Phone banking

Agreement on processing of instructions submitted via telephone (for legal entities)

1. By this Agreement the Customer confirms the acceptance of the terms stated hereunder and instructs HSBC Bank Armenia cjsc (hereinafter the Bank) to act in accordance with instructions of the Customer submitted via telephone which are related to:
   • provision of information on account(s) balance and account(s) transactions.
   • other information comprising banking secrecy of the Customer.

2. The parties hereby agree that the authorized representative(s) under this agreement may only be nominated from the authorized person(s) of Customer’s account(s) held with the Bank. In case the authorities of the authorized person’s authorities against the account(s) held with the Bank are terminated the authorities of the Customer’s authorized representative under this agreement are ceased as well.

   The Customer hereby undertakes to ensure the observance of the terms of this agreement by its authorized representative(s) and confirms that submission of the instructions via telephone by Customer’s authorized representative will constitute an acceptance of the terms of this agreement by the authorized representative(s).

3. The Bank shall process the instructions after making proper identification of the Customer’s authorized representative. For the purpose of proper identification the Customer’s authorized representative shall correctly answer to the questions of the Bank’s staff member and provide the correct password, which shall be filled in by the Customer in the Bank’s operational system. The password provided by the Customer shall be maintained only in electronic manner in the Bank’s operational system.

   The Customer and authorized representative of the latter undertake to ensure the confidentiality of password and other Identification details in order to prevent the unauthorized usage.

   The Customer and authorized representative of the latter acknowledge that any failure in preserving the confidentiality of password and other Identification details may result in access to such details by third parties and unauthorized implementation of transactions by such third parties, as a result of which the Customer may incur loses.

   The Bank shall not compensate the losses of the Customer suffered as a consequence of availability of Customer’s password and other identification details to third parties if it is not proven that such details became available to third parties by the fault of the Bank.

4. The Bank shall have the right to refuse to act upon the Customer’s telephone instruction if:

   a) the Customer’s authorized representative does not respond correctly to the enquiries for the purpose of proper identification of the Customer or its authorized representative,

   b) the Customer’s authorized representative does not provide the password or provides incorrect one,

   c) on any other ground stipulated by the law and other legal acts.

5. The Bank shall bear no liability for the loss incurred by the Customer for processing instructions submitted in accordance with the procedure stipulated in this Agreement and also as a result of misinterpretation of an instruction due to any error, ambiguity or inaccuracy of the instruction.
6. The Customer hereby irrevocably undertakes to indemnify the Bank against any losses or expenses incurred by the Bank of whatever nature due to acceptance and/or acting in accordance with the instructions given under this Agreement and keep the Bank indemnified against any claims arising therefrom.
7. The Customer hereby gives its consent to the recording of its telephone calls to the Bank, as well as calls made from the Bank to Customer.

   The Customer is aware and gives its consent that the Bank’s employees may regularly contact at the phone number(s) specified by the Customer for the purpose of advising the Customer on services provided by the Bank, any changes thereto as well as exchange of information on accounts.

8. This Agreement may be terminated:

   a) by the Customer by filing a written notice to the Bank thereon.

   b) Unilaterally by the Bank by filing a notice thereon.

9. Termination of this Agreement shall not affect in any way the Customers liabilities assumed according to the instructions given under this Agreement.
10. This Agreement shall be effective in addition to the Bank’s “General Terms & Conditions for the Operation of Customer Bank Accounts, Bank Deposits, Electronic Banking and Other Banking services” (for legal entities) (General Terms and Conditions). The relations arising between the Parties in connection with this Agreement which are not regulated by this Agreement, shall be regulated by General Terms and Conditions.
11. This Agreement is made and governed under the legislation of Republic of Armenia. This Agreement is made in two copies in Armenian and English. In case of discrepancies between English and Armenian versions of this Agreement the Armenian version shall prevail.
12. This Agreement shall enter into force within 3 banking days upon signing and shall be effective for indefinite period. This Agreement may be amendment unilaterally by the Bank by sending further notification to Customer.

Agreement on processing of instructions submitted via telephone (for legal entities)