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YOU MUST READ THESE TERMS AND CONDITIONS CAREFULLY BEFORE USING THE SERVICES. BY REGISTERING TO USE THE SERVICES, YOU SHALL BE DEEMED TO HAVE ACCEPTED AND BE BOUND BY ALL THESE TERMS AND CONDITIONS.

TERMS AND CONDITIONS FOR HSBC'S PERSONAL INTERNET BANKING SERVICES

                                                                                                                                                                                                                                                                                                                                                        

1. Services

(a)        The Hongkong and Shanghai Banking Corporation Limited (the 'Bank' which expression shall, where the context allows or requires, include its successors and assigns) shall provide subject to these Terms and Conditions online services and facility from time to time (the 'Services') through any Internet site established, operated and/or maintained by or on behalf of the Bank ('Internet Site') to enable customers (each a 'Customer' which expression shall, where the context requires, include any personal representative or lawful successor of the Customer) to give instructions to and communicate with the Bank for the purposes of conducting banking, investment, financial and other transactions and dealings of various nature and obtaining services, products, information, goods, benefits and privileges from the Bank and/or members of the HSBC Group.

(b)        As part of the Services, the Bank may make available via any Internet Site financial, market or other information and data ('Information') supplied by any person (each an 'Information Provider' which expression shall include any person who supplies any information to an Information Provider) and may provide reports compiled from Information in any form, medium or means ('Reports').

(c)        The Bank has the right to determine and vary from time to time the scope and type of the Services to be made available including, without limitation : -

i.          expanding, modifying or reducing the Services at any time;

ii.          imposing and varying any restrictions on the use of the Services such as minimum and maximum daily limits with respect to the value of any transaction or dealing or any type of transactions or dealings which the Customer may conduct by using the Services; and

iii.         prescribing and changing the normal service hours during which the Services are available and any daily cut-off time for any type of Services or transactions. Any instruction of the Customer received by the Bank after any applicable daily cut-off time shall be deemed to be received on the next business day. The Bank may specify business day and daily cut-off time by reference to the time of various markets operating in different time-zones.

(d)        The Bank may require the Customer to nominate or register specific account(s) for the purposes of the Services.

2. Governing Terms and Conditions

The Services provide an additional means for the Customer to operate accounts, conduct transactions and dealings and obtain services, products, information, goods, benefits and privileges from the Bank and/or other members of the HSBC Group as shall be made available from time to time. Transactions and dealings effected by using the Services are subject to the Terms and Conditions and the Bank's general Disclaimer and Internet Privacy Statement. All other terms and conditions governing the relevant accounts, transactions, dealings, services, products, information, goods, benefits or privileges shall continue to apply but where there is any discrepancy, these Terms and Conditions shall prevail for the purposes of the Services.

3. Use of the Services

(a)        To access the Services for the first time, the Customer is required to register online or in such other manner as the Bank may from time to time specify and indicate his acceptance of all the terms and conditions governing the use of the Services and to provide such information as the Bank may reasonably specify for identifying him.

(b)        By registering to use the Services, the Customer warrants that all information provided by the Customer to the Bank in relation to the Services is true, complete and up-to-date.

(c)        The Services are for the sole and exclusive use by the Customer.

(d)        The Customer shall not use or knowingly allow any other person to use the Services, the Information and/or the Reports for or in connection with any illegal purpose or activity. The Customer shall notify the Bank as soon as practicable if he becomes aware of such use.

(e)        Any exchange rate, interest rate, dealing rate and other prices and information quoted by the Bank on the Internet Site(s) or otherwise in response to an online inquiry is for reference only and is not binding. Any rate, price and information offered by the Bank for the purpose of the relevant transaction shall be binding on the Customer upon the Customer confirming his acceptance irrespective of any different rate, price or information quoted by the Bank.

(f)         The Customer acknowledges that there may be a time lag in transmission of instructions, information or communication via the Internet.

4. User ID and Password 

(a)        The Customer shall follow the guidance provided by the Bank online in designating the user identification code (the 'User ID') and the password (the 'Password') for identifying the Customer for the purposes of the Services.

(b)        The Customer may change the Password at any time but any change shall be effective only if accepted by the Bank. The User ID cannot be changed by the Customer.

(c)        The Bank may, in its sole discretion require a Customer to use a Security Code (a one-time password generated by the Security Device) to access the Services in the event of which it is the sole responsibility of the Customer to apply to the Bank for a Security Device (an electronic device used to generate the Security Code) or a replacement if a Security Device has previously been issued but is subsequently lost or has failed to function as intended.

(d)        The Customer shall act in good faith, exercise reasonable care and diligence in keeping the User ID, the Password, the Security Device and the Security Code in secrecy. At no time and under no circumstances shall the Customer disclose the User ID, the Password and/or the Security Code to any other person or permit the Security Device to come into the possession or control of any other person.

(e)        The Customer shall be fully responsible for any accidental or unauthorised disclosure of the User ID, the Password and/or the Security Code to any other person and shall bear the risks of the User ID, the Password, the Security Device or the Security Code being used by unauthorised persons or for unauthorised purposes.

(f)         Upon notice or suspicion of the User ID and/or the Password being disclosed to any unauthorised person or any unauthorised use of the Services being made, the Customer shall notify the Bank in person as soon as practicable or by telephone at such telephone number(s) as the Bank may from time to time prescribe (and the Bank may ask the Customer to confirm in writing any details given) and, until the Bank's actual receipt of such notification, the Customer shall remain responsible for any and all use of the Services by unauthorised persons or for unauthorised purposes.

5. Customer's Instructions

(a)        The Customer is required to quote the User ID, the Password, the Security Code and any other identifiers as shall be prescribed by the Bank from time to time in order to log-on to the Services and give instructions to the Bank online. Instructions in connection with the Services shall not be considered to be received by the Bank unless they are given in such manner as the Bank may prescribe from time to time and until the Bank has actually received them.

(b)        Any instruction given in connection with the Services by quoting the User ID, The password, the Security Code and such other identifiers of the Customer as prescribed by the Bank, once given, may not be rescinded or withdrawn without the consent of the Bank or the relevant member of the HSBC Group. All such instructions given, as understood and acted on by the Bank or the relevant member of the HSBC Group in good faith, shall be irrevocable and binding on the Customer whether given by the Customer or by any other person purporting to be the Customer. The Bank and the relevant member of the HSBC Group shall be under no duty to verify the identity or authority of the person giving any such instruction or the authenticity of such instruction apart from verifying the User ID, the Password, the Security Code and such other identifiers (if any) of the Customer.

(c)        The Bank will only act on an instruction insofar as it is in the Bank's opinion practicable and reasonable to do so and in accordance with its regular business practices and procedures.

(d)        Advice or confirmation that an instruction has been received and/or a transaction has been effected through the Services will be provided by the Bank online. Such advice or confirmation shall be deemed to have been received by the Customer immediately after transmission and it is the duty of the Customer to check such advice or confirmation. It is also the duty of the Customer to enquire with the Bank if the Customer does not receive an advice or confirmation within the time usually required for a similar advice or confirmation to be received.

(e)        Information relating to any account or transaction made available on the Internet Site(s) are for reference only. The Bank's records of such account and transaction shall be conclusive unless and until the contrary is established.

6. Fees

The Bank reserves the right to charge fees in relation to the use and/or termination of the Services including, without limitation, to impose a charge for its provision of the Security Device and to revise such fees. The Bank shall determine and give reasonable notice to the Customer of the rate of any fee from time to time before they become effective which shall be binding on the Customer if the Customer continues to maintain or use the Services on or after the effective date. Fees may be collected from the Customer in such manner and at such intervals as the Bank may specify.

7. Customer's Undertakings and Responsibilities

(a)        The Customer shall provide such information as the Bank may from time to time reasonably request for the purposes of providing the Services. The Customer shall also ensure that all information provided to the Bank is at all times accurate, complete and up-to-date including, without limitation, the Customer's address and other contact details

(b) The Customer authorises the Bank to disclose and transfer information relating to the Customer, the Customer's account(s) and/or the transaction(s) executed by the Bank on the Customer's behalf to such person(s) as the Bank may be requested (whether or not compelled by law) to do so by any law, rules or regulations of any competent jurisdiction in which the Bank executes transaction(s) on the Customer's behalf or any exchange, government or regulatory authority in such jurisdiction.

(c)        The Customer shall not, and shall not attempt to decompile, reverse-engineer, translate, convert, adapt, alter, modify, enhance, add to, delete or in any way tamper with, or gain access to, any part of the Services or any Internet Site or any software comprised in them.

(d)        The Customer acknowledges that it is the responsibility of the Customer to determine independently market prices and rates for trading purposes through his usual trading channels, to verify any Information and/or Report before relying or acting on it and to seek independent professional advice on legal, tax and other issues in connection with the use of the Services, the Information and the Reports, these Terms and Conditions and any transactions and dealings which may affect the Customer under all applicable laws.

8. Information and Information Providers

(a)        The Customer acknowledges and agrees that the Information, the Reports and their form, format, mode or method of compilation, selection, configuration, presentation and expression (collectively 'Confidential Information') are trade secrets and confidential and proprietary property of the Bank and the respective Information Providers.

(b)        Unless expressly permitted by these Terms and Conditions, the Customer shall not, and shall not attempt to:-

 

i.          sell, transfer, disclose, assign, convey, lease, sub-license, share, loan, distribute, transmit, broadcast, cablecast, put in circulation, download, reproduce, duplicate or otherwise provide or disseminate any Confidential Information in any form or by any means to any other person or commercially exploit any Confidential Information;

ii.          remove, obliterate, erase, relocate or modify in any way any proprietary marking on or appearing with the Confidential Information including, without limitation, any trademark or copyright notice; or

iii.         incorporate or combine the Confidential Information with any other programmes.

(c)        The restrictions on disclosure shall not apply to any Confidential Information: -

i.          where its disclosure is compelled by law but only to the extent required by law and only after written notice of the requirement to disclose has been given by the Customer to the Bank; or

ii.          where the Bank has expressly agreed in writing to its disclosure.

(d)        The Customer agrees that all right, title and interest in and relating to the Confidential Information and any and all related copyright, patent, trademark, service mark, proprietary property, trade secrets and exclusive works are and shall remain the exclusive property of the Bank and the respective Information Providers. No right, title or interest other than the right to access the Information and the Reports subject to these Terms and Condition is conveyed or transferred to the Customer. The Customer shall not make any representation or do any act which may be taken to indicate that the Customer has any such right, title or interest.

(e)        An Information Provider may impose from time to time terms and conditions in relation to the availability of any Information supplied by it. Access to such Information by the Customer on or after the effective date, subject to prior notification, of such terms and conditions shall constitute the Customer's acceptance thereof.

(f)         The Information and the Reports are made available for reference only and are not intended for trading or other purposes. Neither the Bank nor any Information Provider shall be considered an investment adviser to the Customer.

(g)        Neither the Bank nor any Information Provider warrants, represents or guarantees the sequence, accuracy, truth, reliability, adequacy, timeliness or completeness of any of the Information or the Reports or whether it is fit for any purpose. Nor does either of them assume any liability (whether in tort or contract or otherwise) for any reliance on the Information or the Reports by the Customer or any other person.

(h)        The Information will be made available as it is supplied and identifying the Information Provider directly supplying it to the Bank. The Bank does not endorse or express any comment on any Information supplied by any Information Provider nor assume any duty to check or verify any Information.

i.          No warranty, representation or guarantee of any kind relating to the Information and/or the Reports is given or may be implied and no employee or agent of the Bank or any Information Provider is authorised to give any such warranty, representation or guarantee.

9. Liabilities of the Bank

(a)        The Bank will take reasonably practicable steps to ensure that its systems in connection with the Services are installed with adequate security designs and to control and manage the risks in operating the systems, taking into account any law, rules, regulations, guidelines, circulars, codes of conduct and prevailing market practices which may be applicable to the Bank from time to time.

(b)              None of the Bank, any member of the HSBC Group or any Information Provider warrants or represents that the Services, the Information and the Reports are free from virus or other destructive features which may adversely affect the Customer's hardware, software or equipment.

c)                The Bank will make all reasonable efforts to ensure that the Security Device provided to the Customer will perform as necessary to permit access to the Services as and when required.  The Customer must notify the Bank immediately if any Security Device fails to function correctly and the only obligations that the Bank has in respect of such Security Device is to replace the same with a new Security Device at no cost to the Customer but only

(i)                   upon the defective Security Device being returned to the Bank within 90 days of its date of issue and

(ii)                 if the Bank is satisfied that there is no default or negligence on the part of the Customer which results in or contributes to the Security Device's failure to function correctly.  Other than as specified in this Clause 9(c), the Bank shall have no other liability in relation to this Security Device including, without limitation, liability for breach of any implied term as to satisfactory quality, merchantability or fitness for purpose of any Security Device. In addition, the Bank cannot be held liable for any loss or damages incurred or suffered by the Customer arising from the Customer's failure to safe-keep and/or use the Security Device in accordance with the Bank's instructions and recommendations.

(d)        Unless Clause 10(b) applies or due to the gross negligence or wilful default of the Bank, any member of the HSBC Group or their respective officers or employees and only to the extent of direct and reasonably foreseeable loss and damage (if any) arising directly and solely therefrom or the amount of the relevant transaction (whichever is less), neither the Bank nor any member of the HSBC Group assumes any liability or responsibility to the Customer or any other person for the consequences arising from or in connection with : -

i.          use of the Services (including, without limitation, the use of the Security Device) and/or access to any information as a result of such use by the Customer or any other person whether or not authorised;

ii.          any interruption, interception, suspension, delay, loss, unavailability, mutilation or other failure in providing the Services (including, without limitation, any interruption, interception, suspension, delay or failure to generate the Security Code using the Security Device), in transmitting instructions or information relating to the Services or in connecting with the Internet Site(s) caused by any acts, omissions or circumstances beyond the reasonable control of the Bank including, without limitation, failure of any communication network, act or omission of any third party service providers, mechanical failure, power failure, malfunction, breakdown, or inadequacy of equipment, installation or facilities, or any law, rules, regulations, codes, directions, regulatory guidelines or government order (whether or not having the force of law); and

iii.         transmission and/or storage of any information and/or data relating to the Customer, the Services and/or transactions or dealings conducted by the Customer pursuant to the Services through or in any system, equipment or instrument of any communication network provider.

(d)        In no event shall the Bank, any member of the HSBC Group or any Information Provider be liable to the Customer or any other person for any incidental, indirect, special, consequential or exemplary damages including, without limitation, any loss of use, revenue, profits or savings.

10. Liabilities of the Customer

(a)        Unless Clause 10(b) applies, the Customer shall be fully liable and responsible for all consequences arising from or in connection with use of the Services (including, without limitation, the use of the Security Device) and/or access to any Information or Report or any other information as a result of such use by the Customer or any other person whether or not authorised.

(b)        Subject to Clause 4(f) and if, in the reasonable opinion of the Bank, there is no negligence, fraud or fault on the part of the Customer, the Customer shall not be liable for loss or misplacement of funds caused by unauthorised transactions conducted through the use of the Services as a result of : -

i.          a computer crime which should have been prevented by the risks control and management measures had the Bank adopted such measures in accordance with Clause 9(a);

ii.          a human or system error of the Bank; or

iii.         a missed or mis-directed payment caused by the gross negligence or wilful default of the Bank, its officers or employees.

(c)        The Customer shall indemnify the Bank, any member of the HSBC Group, any Information Provider and their respective officers and employees against all liabilities, claims, demand, losses, damages, costs, charges and expenses of any kind (including, without limitation, legal fees on a full indemnity basis) which may be incurred by any of them and all actions or proceedings which may be brought by or against any of them in connection with the provision of the Services, the Information and/or the Reports or the exercise or preservation of the Bank's powers and rights under these Terms and Conditions, unless due to the gross negligence or wilful default of the Bank, any member of the HSBC Group, any Information Provider or their respective officers or employees or unless Clause 10(b) applies.

11. Variation and Termination

(a)        The Bank may, at any time, without giving notice or reason suspend or terminate all or any of the Services or their use by the Customer.

(b)        The Customer may terminate the use of the Services at any time by giving to the Bank prior written notice.

(c)        All provisions of these Terms and Conditions which in order to give effect to their meaning need to survive the suspension or termination of the Services and/or the use of the Services by the Customer shall remain in full force and effect after suspension or termination including, without limitation, Clauses 3(b), 4, 7, 8, 9 and 10. Notwithstanding such suspension or termination, the Customer shall continue to be bound by these Terms and Conditions to the extent that they relate to any obligations or liabilities of the Customer which remain to be performed or discharged.

12. Amendments

The Bank may revise these Terms and Conditions and/or introduce additional terms and conditions at any time and from time to time. Any revision and/or addition to these Terms and Conditions shall become effective subject to the Bank giving reasonable notice to the Customer which may be given by posting it on the Internet Site(s) or by display, advertisement or other means as the Bank thinks fit, and shall be binding on the Customer if the Customer continues to maintain or use the Services on or after the effective date of variation.

13. Communication

(a)        The Bank shall be entitled to prescribe, from time to time, the form of notice (whether written or any other form) and the mode of communication with respect to each type of notice to be given pursuant to these Terms and Conditions.

(b)        Communications delivered personally, sent by post, facsimile transmission, telex or email shall be deemed to have been received by the Customer (where delivered personally) at the time of personal delivery or on leaving it at the address last notified in writing by the Customer to the Bank, (where sent by post) 48 hours after posting if such address is in Democratic Socialist Republic of Sri Lanka and seven days after posting if such address is outside the Democratic Socialist Republic of Sri Lanka or (where sent by facsimile transmission, telex or email) immediately after transmitting to the facsimile or telex number or email address last notified in writing by the Customer to the Bank. Communications sent by the Customer to the Bank shall be treated as delivered to the Bank on the day of actual receipt.

14. Severability

Each of the provisions of these Terms and Conditions is severable and distinct from the others and, if at any time one or more of such provisions is or becomes illegal, invalid or unenforceable in any respect under the laws of any jurisdiction, the legality, validity or enforceability of the remaining provisions shall not be affected in any way.

15. Waiver

No act, delay or omission by the Bank shall affect its rights, powers and remedies under these Terms and Conditions or any further or other exercise of such rights, powers or remedies. The rights and remedies under these Terms and Conditions are cumulative and not exclusive of the rights and remedies provided by law.

16. Miscellaneous

(a)        Where the account in question is a joint account, the reference in these Terms and Conditions to 'Customer' shall be deemed to mean all and each of the joint account holders. All the Customers shall be bound by these Terms and Conditions and be jointly and severally liable for all the transactions and dealings effected by using the Services.

(b)        Unless the context otherwise requires, 'person' includes an individual, firm, company, corporation and an unincorporated body of persons.

17. Governing Law and Jurisdiction

(a)        The Services and these Terms and Conditions shall be governed by and construed in accordance with the laws of the Democratic Socialist Republic of Sri Lanka.

(b)        Each of the Bank and the Customer submits to the non-exclusive jurisdiction of the Courts of the Democratic Socialist Republic of Sri Lanka but these Terms and Conditions may be enforced in the Courts of any competent jurisdiction.

18. Governing Version

The English version of these Terms and Conditions shall prevail wherever there is a discrepancy between the English version and any other version.

TERMS AND CONDITIONS FOR INTERNET BANKING FOR BUSINESS SERVICE

1. About these Terms and Conditions

These Terms and Conditions apply to HSBC Sri Lanka's Internet Banking for Business Service. These Terms and Conditions

operate in conjunction with the General Terms and Conditions for the Operation of Accounts as applicable to Accounts(s) you access using these services including the opening of any new accounts. If there is an inconsistency, these Terms and Conditions prevail for the purpose of Internet Banking for Business Service.

Please read these Terms and Conditions before using these services. If you do not understand any part of them, or if you have any questions, please

speak with a staff member at any branch or call the Bank's BusinessVantage Solutions Centre on 94-11-4-511566.

1.1 Definitions

In these Terms and Conditions, unless the context otherwise requires:

"Account(s)" means any account operated by the Business for which the Business instructs the Bank using the Internet Banking Service.

"Authorised Internet Banking User(s)" means the person who is authorised by the Business to operate the Account(s) through the Internet Banking

 for Business Service.

"Authorised Persons" means the authorised person(s) of the Business who has (have) signed the Bank's Account Opening Form.

"Bank" means HSBC Sri Lanka which expression shall include its successors and assigns.

"Banking Day" means any day on which banks in Sri Lanka are open for business.

"Business" means the customer of the Bank who signs this Agreement, whether they be a Company, Sole Proprietorship or a Partnership.

"Company" means properly constituted limited liability company/public/private joint stock company or any other type of Company under the laws

in the country where the Company is incorporated.

"Confidential Information" means the Information, the Reports and their form, format, mode or method of compilation, selection, configuration,

presentation and expression.

"Electronic Banking Number" (EBN) means the code number for the time being established for the Authorised Internet Banking User for the purpose of identification of the Authorised Internet Banking User in giving Instruction(s) to the Bank through Internet.

"Information Provider" means person(s) who provide any data or financial, market or other information made available on the Internet Site

by the Bank. This expression shall also include any person(s) who supply any Information to an Information Provider.

"Information" means any data or financial, market or other information made available on the Internet Site by the Bank.

"Instruction(s)" means the instruction of the Business given by the Authorised Internet Banking User through Internet Banking for Business

Service.

"Internet Banking Password" means the alpha, numeric, alpha-numeric code number for the time being established for the Authorised Internet

Banking User for the purpose of identification of the Authorised Internet Banking User in giving Instruction(s) to the Bank through Internet.

"Internet Banking for Business Service" means the online services and transactions and facilities offered by the Bank through the Internet to the

Business.

"Security Device" means an electronic device used to generate the Security Code

"Internet Site" means a group of related web pages - established, operated and/or maintained by or on behalf of the Bank.

"Privacy Statement" means the Internet Privacy Statement and Disclaimer issued by the Bank from time to time, a copy of which is attached to these

Terms and Conditions. This includes, in particular, the agreement of the Business to the use and disclosure by the Bank of information relating to

the Business in accordance with the terms of the Privacy Statement.

"Persons" means an individual, Firm, Company, Corporation and/or an unincorporated body of person(s).

"Reports" means the compiled Information in any form, medium or means.

"Terms" mean these terms and conditions, as amended from time to time.

"You", "Your" and "Yours" are references to the person requesting the Internet Banking for Business Service.

Acceptance

When you use the Internet Banking for Business Service, you accept these Terms.

If you have previously used the Internet Banking for Business Service, your first use of the Internet Banking for Business Service after publication of these Terms indicates your acceptance of them.

1.2 Governing Terms and Conditions

The Internet Banking for Business Service provides an additional means for the Business to operate Account(s), conduct transactions and dealings

and obtain services, products, information, benefits and privileges from the Bank as shall be made available from time to time. Transactions and

dealings conducted using the Internet Banking for Business Service are subject to these Terms and Conditions, the Disclaimer and Internet Privacy

Statement contained in these Terms and Conditions and the General Terms and Conditions for the Operation of Accounts

governing the Account(s) (as applicable). However, where there is any discrepancy, these Terms and Conditions shall prevail for the purposes of the Internet Banking for Business Service.

1.3 Use of the Internet Banking Service

(a) To access the Internet Banking for Business Service for the first time, the Business is required to complete an appropriate application form as the

Bank may from time to time specify and indicate its acceptance of all the Terms and Conditions governing the use of the Internet Banking for

Business Service and to provide such information as the Bank may reasonably specify.

(b) By registering to use the Internet Banking for Business Service, the Business warrants that all information provided by the Business and/or

Authorised Internet Banking User(s) to the Bank in relation to the Internet Banking for Business Service are true, complete, relevant and up-to-date.

(c) The Authorised Internet Banking User(s) shall not use or knowingly allow any other person(s) to use the Internet Banking for Business Service, the

Information and/or the Reports for and/or in connection with any illegal purpose or activity. The Business shall notify the Bank immediately if it

becomes aware of such use. Bank will not be liable for any of the transactions allegedly performed by an unauthorised third party.

(d) Any exchange rate, interest/profit rate, dealing rate and other prices and Information quoted by the Bank on the Internet Site(s) or otherwise in

response to an online inquiry is for reference only and is not binding. Any rate, price and Information offered by the Bank for the purpose of the

relevant transaction shall be binding on the Business, upon the Authorised Internet Banking User(s), acting on behalf of the Business, confirming his

acceptance irrespective of any different rate, price or information quoted by the Bank.

(e) The Business acknowledges that there may be a time lag in transmission of Instruction(s), Information or communication via the Internet for which

the Bank shall not be held liable.

1.4 Services

(a) Subject to these Terms and Conditions, the Bank shall provide Internet Banking for Business Sevice through any Internet Site to enable

Authorised Internet Banking User (s) to give Instruction(s) to and communicate with the Bank for the purposes of conducting banking,

investment, financial and other transactions of whatever nature and dealings with the Bank and obtaining services, products, information,

benefits and privileges from the Bank.

(b) As part of the Internet Banking for Business Service, the Bank may make available on the Internet Site Information supplied by any Information

Provider and may provide Reports.

(c) The Bank is authorised to act on any Instruction(s) received at its absolute sole discretion believing it to be issued by the Authorised Internet Banking User(s) for and on behalf of the Business. The Bank will act on Instruction(s) received through the use of EBN, Internet Banking

Password and the Security Device and is not liable under any circumstances to verify the identity/bonafide of the person(s) giving Instruction(s), and for the Information provided to the Authorised Internet Banking User(s).

(d) The Bank has the right to determine and vary from time to time the scope and type of the Internet Banking for Business Service to be made available including, without limitation: -

(i)    Expanding, modifying or reducing the Internet Banking for Business Service at any time;

(ii)  Imposing and varying any restrictions on the use of the Internet Banking for Business Service such as minimum and maximum daily  limits with respect to the value of any transaction or dealing or any type of transactions or dealings which the Authorised Internet  Banking User(s) may conduct by using the Internet Banking for Business Service; and

(iii) Prescribing and changing the normal service hours during which the Internet Banking for Business Service is available and any daily cutoff time for any type of services or transactions. Any Instruction(s) of the Authorised Internet Banking User(s) on behalf of the Business received by the Bank after any applicable daily cut-off time shall be deemed to be received on the next business day. The Bank may specify business day and daily cut-off time by reference to the time of various markets operating in different time zones.

(e) The Bank may require the Business to nominate or register specific Account(s) for the purposes of the Internet Banking for Business Service.

(f) The Bank will require the Business to nominate an Authorised Internet Banking User(s) to use the Internet Banking for Business Service.

1.5 USING THE INTERNET BANKING FOR BUSINESS SERVICE

The Internet Banking for Business Service can be used to:

(i) Obtain the balance of any Account, transfer funds to or from any Account, view your accounts, make standing order payments in relation to any

Account.

(ii) Make a payment transfer from any Account to another Person's account with the Bank within Sri Lanka or another financial institution which

includes the foreign branches of the Bank or to another account you hold with another financial institution.

(iii) Receive and send secure email messages from and to the Bank.

(iv) Obtain e-Statements and e-Advices.

1.6 SECURE EMAIL MESSAGES

(a) If we make this facility available to you, you may send us and we may send you secure e-messages over the Internet Banking for Business Service.

(b) If you send us a message we will aim to respond to you within two Banking Days by email or by telephone as confirmation of receipt of your

message. If this is not possible or we are not able to answer your query or comply with your request with in this timescale or at all we will aim to let

you know this within two Banking Days. No request will be implemented until we have first sent you a message as confirmation. Please be aware

that once you have sent a request we may not be able to reverse it before it is implemented.

(c) You must not send us messages:-

(i) in relation to matters for which there is a specific functionality on the Internet Banking for Business Service e.g. to notify us of a change to

your address or to make a payment;

(ii) which require immediate attention (please telephone us instead);

(iii) which are requests of a transactional nature e.g. share dealing or fund

management instructions;

(iv) reporting the loss or theft of cheques and/or cheque or credit cards (please telephone us instead);

(v) which are offensive, frivolous or otherwise inappropriate.

If you do so we may at our absolute discretion remove the "Email" facility or terminate your use of the Internet Banking for Business Service in accordance with clause 1.18 below.

(d) Under no circumstances should any message sent by us be construed as an offer to provide a product or service to you on particular terms or at all. All products and services are subject to status and terms.

1.7 E-STATEMENTS AND E-ADVICE

Should you choose to activate the E-Statement service, your statements will henceforth be sent to you electronically. On statement due date you

will receive a message informing you that your statement is available. You will need Acrobat © Reader (version 3.0 or above) to view, save or print

your statement. In the event that you do not have this software on your PC, you may download it free of charge from www.adobe.com. If you prefer

the traditional method of us mailing to you paper statements you may deselect the e-statement option.

Should you choose to activate the E-Advice service, you will receive your transaction advices electronically through Internet Banking for Business

Service. Your paper advices will cease to be sent to you.

1.8 SECURITY OF YOUR ELECTRONIC BANKING NUMBER, INTERNET BANKING PASSWORD AND SECURITY DEVICE

• You and your Authorised Internet Banking Users must keep the Electronic Banking Number,Internet Banking Password and the Security Device secure and take steps to prevent unauthorised use of them.

• You and your Authorised Internet Banking Users must not tell or disclose them to another person or allow them to be seen by another

person (including family or friends).

• You and your Authorised Internet Banking Users must not keep a record of them in a way which they can be determined by another

person.

• You and your Authorised Internet Banking Users must not record them together.

• You and your Authorised Internet Banking Users must not select an Internet Banking Password which represents a birth date or

recognizable part of your name.

• The bank may from time to time provide guidelines for ensuring the security of the Electronic Banking Number, Internet Banking

Password and the Security Device.

1.9 LIABILITY FOR UNAUTHORISED TRANSACTIONS

You will be liable for any loss of funds arising from any unauthorized transaction on your Account if the loss occurs before you notify the Bank

that your Electronic Banking Number, Internet Banking Password and the Security Device has been misused, lost or stolen or become known to someone else and if you contribute to the loss because:

(a) your fraud, your failure to look after and keep your Internet Banking Password, Electronic Banking Number and the Security Device secure in accordance with clause 1.14 or your extreme carelessness in failing to protect their security is the dominant cause of your loss; or

(b) your unreasonable delay in notifying the Bank of the misuse, loss or theft of your Electronic Banking Number, Internet Banking Password and the Security Device or of them becoming known to someone else and the loss occurs between the time you did, or should reasonably have, become aware of these matters

and the time you notify the Bank.

(c) your failure to comply with the security measures in Clause 1.13 below or any other measure as notified by the Bank to you either on the Internet site or otherwise.

You will not be liable for losses which are incurred:

(d) before you have received your Electronic Banking Number and/or Internet Banking Password and the Security Device;

(e) if the transaction occurs after you notify the Bank that your Electronic Banking Number, Internet Banking Password and the Security Device has been misused, lost or stolen or become known to someone else;

(f) that is caused by the fraudulent or negligent action of the Bank's employees or agents, of companies involved in networking arrangements

for the electronic transfer of funds or of merchants linked to that system, their employees or agents;

(g) that is related to an access method (including an Internet Banking Password, Electronic Banking Number and the Security Device) which is expired, cancelled, faulty or forged;

(h) that is caused by the same transaction being incorrectly debited more than once to the same Account.

1.10 ELECTRONIC BANKING NUMBER, INTERNET BANKING PASSWORD AND THE SECURITY DEVICE

(a) The Bank will provide the Authorised Internet Banking User(s) an Electronic Banking Number, Internet Banking Password and the Security Device for identifying the Authorised Internet Banking User(s) when using the Internet Banking for Business Service

(b) The Authorised Internet Banking User(s) may change their Internet Banking Password at any time but any change shall be effective only if

accepted by the Bank. The Authorised Persons of the Business cannot change the Internet Banking Password of the Authorised Internet Banking

User unless that change is authorised by that Authorised Internet Banking User. The Authorised Internet Banking User(s) or the Authorised Persons

of the Business cannot change the Electronic Banking Number.

(c) The Authorised Internet Banking User(s) shall act in good faith, exercise utmost care and diligence in keeping the Electronic Banking Number,

Internet Banking Password confidential and the Security Device secret. At no time and under no circumstances shall the Authorised Internet Banking User(s) disclose the Electronic Banking Number, Internet Banking Password and the Security Device to any other person(s).

(d) The Authorised Internet Banking User(s) shall undertake to keep the Electronic Banking Number, Internet Banking Password  and the Security Device strictly confidential at all times and the Business and/or Authorised Internet Banking User(s) shall report to the Bank immediately upon loss of the Internet Banking Password or the Security Device or becoming aware that the Internet Banking Password and the Security Device has fallen into the hands of any unauthorised party. The Bank will continue to be entitled to act on Instruction(s) believed to be from the Authorised Internet Banking User(s), until actual receipt by the Bank of notification that the Internet Banking Password and the Security Device has been acquired unlawfully (or a record of it has been lost accidentally, or the Internet Banking Password has ‘leaked' in some other way).

(e) The Business shall be fully responsible for any accidental/negligent and/or unauthorised disclosure of the Electronic Banking Number and/or the

Internet Banking Password and/or the Security Device provided to the Authorised Internet Banking User(s) of the Business, to any other person(s) and shall bear the risks of the Electronic Banking Number and/or Internet Banking Password and/or the Security Token being used by unauthorised person(s) or for unauthorised purposes or transactions.

1.11 BUSINESS' INSTRUCTION(S)

(a) The Authorised Internet Banking User(s) is required to quote the Electronic Banking Number, Internet Banking Password and the Security Device/Security Token  in order to log-on to the Internet Banking for Business Service and give Instruction(s) to the Bank using the Internet Banking for Business Service online. Instruction(s) given using the Internet Banking for Business Service shall not be considered to be received by the Bank unless they are given in such manner as the Bank may prescribe from time to time and until the Bank has actually received them.

(b) Any Instruction(s) given using the Internet Banking for Business Service quoting the Electronic Banking Number, Internet Banking Password and the Security Token of the Authorised Internet Banking User(s), may not be rescinded or withdrawn without the consent of the Bank. All such Instruction(s) given, as understood and acted on by the Bank in good faith shall be irrevocable and binding on the Business whether given by the Authorised Internet Banking User(s) or by any other person(s) purporting to be the Authorised Internet Banking User(s). The Bank shall be under no duty to verify the identity or authority of the person(s) giving any such Instruction(s) or the authenticity of such Instruction(s) apart from verifying the Electronic Banking Number, Internet Banking Password and the Security Token of the Authorised Internet Banking User(s).

(c) The Bank will only act on an Instruction(s) insofar as it is in the Bank's opinion practicable and reasonable to do so and in accordance with its

regular business practices and procedures.

(d) The Bank will provide online advice or confirmation that an Instruction(s) has been received and/or a transaction has been effected through the

Internet Banking for Business Service. Such advice or confirmation shall be deemed to have been received by the Authorised Internet Banking

User(s) immediately after transmission and it is the duty of the Authorised Internet Banking User(s) to check such advice or confirmation. It is also

the duty of the Business to enquire with the Bank if the Authorised Internet Banking User(s) does not receive an advice or confirmation within

the time usually required for a similar advice or confirmation to be received.

(e) All written Instruction(s) pertaining to Internet Banking Service will be accepted only if they are authorised by Authorised Persons of the

Business.

(f) Information relating to any Account(s) or transactions made available on the Internet Site is for reference only. The Bank's records of such

Account(s) and transaction shall be conclusive unless and until the contrary is established.

(g) The Bank shall not be liable for any computer/cyber crimes such as hacking etc. and shall not be liable for, or bound by, any unauthorised

transactions and/or any transactions carried out by the use of illegal and fraudulent methods.

1.12 FEES

The Bank reserves the right to charge fees in relation to the use and/or termination of the Internet Banking for Business Service and to revise such

fees. The Bank shall determine and notify the Business of the rate of any fee from time to time that shall be binding on the Business if the

Authorised Internet Banking User(s) continues to maintain or use the Internet Banking for Business Service after the effective date for imposing

the fee or the revised fee. Fees shall be collected from the Business in such manner and at such intervals as the Bank may specify.

1.13 SECURITY OF INTERNET BANKING

The bank uses a very high level of encryption to protect your transactions and Accounts from unauthorised access. The use of such levels of

encryption may be illegal in certain jurisdictions. It is your responsibility to ensure that your ability to use the Internet Banking for Business Service

is permitted by local law. You are responsible for acquiring and maintaining any equipment required for your continued access to and use of the Internet Banking for Business Service (such as your telephone or computer), and for your own computer's anti-virus and security measures.

You agree not to interfere with or damage (or attempt to interfere with or damage) any Electronic Banking Number, Internet Banking Password and the Security Device/Token , data or software associated with the Internet Banking for Business Service. Due to the open nature of the internet, the Bank cannot guarantee the complete security of your transactions from hacking, unauthorised access, virus attacks and other deliberate attempts by third parties in breaching the latest security features which have been put in place. You acknowledge by using the Internet Banking for Business Service that you are in compliance and shall continue to comply with any online security guidelines on the Internet Site from time to time.

Apart from the above risks, we also wish to advice that due to unexpected communication network volumes and failures, there may be a time lag in

transmission of information and communication via the Internet. Accordingly your requests or transactions may not be carried out within

the time frames anticipated.

E Mail Scams

No one at the bank will ever ask you for your Internet Banking Password. If someone does ever ask you for it – they do not represent the Bank!

Scam Emails are a method that are used be fraudulent persons to obtain details of your EBN and Internet Banking Password. Recently customers

of other financial institutions were targeted using this method. We ask you to exercise extreme caution. These e-mails typically tempt customers to click a link which then takes them to a fairly realistic looking website representing the Bank. Customers are then asked to input various details including usernames, passwords and other personal details quoting security reasons. We have therefore created the following guidelines that we strongly recommend be adhered to.

(a) Do not respond to emails asking for secure information. The Bank does not use E-mail communication to convey or seek information of a sensitive

nature such as customer user IDs, passwords or confirmation of personal details.

(b) On occasion, we may send e-mails promoting our products and services. You can respond to these but you do not have to key in passwords for such responses.

(c) If you receive any suspicious looking e-mails, do not carry out any of the instructions within them. If you are concerned that you may have disclosed your security details please contact our BusinessVantage Solutions Centre immediately on 94-11-4511566.

1.14 BUSINESS' UNDERTAKINGS AND RESPONSIBILITIES

(a) The Business shall provide such information as the Bank may from time to time reasonably request for the purposes of providing the Internet

Banking for Business Service.

(b) The Bank is automatically authorised to share the information with any other person(s)/entity, including its third party agents as and when

necessary.

(c) The Authorised Internet Banking User(s) shall not, and shall not attempt to decompile, reverse-engineer, translate, convert, adapt, alter, modify,

enhance, add to, delete or in any way tamper with, or gain access to, any part of the Internet Banking for Business Service or any Internet Site or

any software comprised in them.

(d) The Business acknowledges that it is the responsibility of the Business to determine independently market prices and rates for trading purposes

through its usual trading channels, to verify any Information and/or Report before relying or acting on it and to seek independent professional advice

on legal, tax and other issues in connection with the use of the Internet Banking for Business Service, the Information and the Reports, these

Terms and Conditions and any transactions and dealings which may affect the Business under all applicable laws. The Business agrees that all the

Information sought may not be available on the site.

1.15 INFORMATION AND INFORMATION PROVIDERS

(a) The Business acknowledges and agrees that the Confidential Information are the intellectual property rights (copyright, trademark, patent, design,

creation, invention etc.), trade secrets, confidential/proprietary property of the Bank and the respective Information Providers.

(b) Unless expressly permitted by these Terms and Conditions, the Business shall not, and shall not attempt to: -

(i) Sell, transfer, disclose, assign, convey, lease, sub-license, share, loan, distribute, transmit, broadcast, cablecast, put in circulation,

download, reproduce, duplicate or otherwise provide or disseminate any Confidential Information in any form or by any means to any

other person(s) or commercially exploit any Confidential Information;

(ii) Remove, obliterate, erase, relocate or modify in any way any proprietary marking on or appearing with the Confidential

Information including, without limitation, any trademark or copyright notice; or

(iii) Incorporate or combine the Confidential Information with any other programmes.

(c) The restrictions on disclosure shall not apply to any Confidential Information: -

(i) Where its disclosure is compelled by law but only to the extent required by law and only after written notice of the requirement to

disclose has been given by the Business to the Bank; or (ii) Where the Bank has expressly agreed in writing to its disclosure to

the Business. (d) The Business agrees that all right, title and interest in and relating to the Confidential Information and any and all related copyright, patent, trademark, service mark, proprietary property, trade secrets and exclusive works are and shall remain the exclusive property of the Bank and the respective Information Providers. No right, title or interest other than the right to access the Information and the Reports subject to these Terms and Conditions is conveyed or transferred to the Business. The Business shall not make any representation nor do any act which may be taken to indicate that the Business has any such right, title or interest.

(e) An Information Provider may impose from time to time Terms and Conditions in relation to the availability of any Information supplied by it.

Access to such Information by the Authorised Internet Banking User(s) on or after the effective date, subject to prior notification, of such Terms and

Conditions shall constitute the Business' acceptance thereof.

(f) The Information and the Reports are made available for reference only and are not intended for trading or other purposes. Neither the Bank nor any

Information Provider shall be considered an investment adviser to the Business.

(g) Neither the Bank nor any Information Provider warrants, represents or guarantees the sequence, accuracy, truth, reliability, adequacy, timeliness

or completeness of any of the Information or the Reports or whether it is fit for any purpose. Nor does either of them assume any liability (whether

in tort or contract or otherwise) for any reliance on the Information or the Reports by the Business or any other person(s).

(h) The Information will be made available as it is supplied and will usually identify the Information Provider supplying it to the Bank. The Bank

neither endorses or expresses any comment on any Information supplied by any Information Provider nor assumes any duty to check or verify any

Information. The Bank does not accept responsibility for the legality, validity, completeness, effectiveness, adequacy or enforceability of the

data therein.

(i) No warranty, representation or guarantee of any kind relating to the Information and/or the Reports is given or may be implied and no

employee or agent of the Bank or any Information Provider is authorised to give any such warranty, representation or guarantee.

1.16 LIABILITIES OF THE BANK

(a) The Bank will take reasonably practicable steps to ensure that its systems in connection with the Internet Banking for Business Service are installed with adequate security designs and to control and manage the risks in operating the systems, taking into account any law, rules, regulations,

guidelines, circulars, codes of conduct and prevailing market practices which may be applicable to the Bank from time to time.

(b) None of the Bank or any Information Provider warrants or represents that the Internet Banking for Business Service, the Information and the Reports are free from virus or other destructive features, which may adversely affect the Business' hardware, software or equipment.

(c) In no event shall the Bank or any Information Provider be liable to the Business or any other person(s) for any incidental, indirect, special,

consequential or exemplary damages including, without limitation, any loss of use, revenue, profits or savings.

1.17 LIABILITIES OF THE BUSINESS

(a) The Business shall be fully liable and responsible for all consequences arising from or in connection with use of the Internet Banking for Business

Service and/or access to any Information or Report or any other information as a result of such use by the Business or any other person(s)

whether or not authorised.

(b) The Business shall indemnify the Bank, any Information Provider and their respective officers and employees against all liabilities, claims,

demand, losses, damages, costs, charges and expenses of any kind (including, without limitation, legal fees on a full indemnity basis) which

may be incurred by any of them and all actions or proceedings which may be brought by or against any of them in connection with the provision of

the Internet Banking for Business Service, the Information and/or the Reports or the exercise or preservation of the Bank's powers and rights

under these Terms and Conditions, except in the cases of willful default of the Bank, any Information Provider or their respective officers or

employees.

1.18 VARIATION AND TERMINATION

(a) The Bank may, at any time, without giving notice or reason suspend or terminate all or any of the Internet Banking for Business Service or their

use by the Business.

(b) The Business may terminate the use of the Internet Banking Service at any time by giving to the Bank prior written notice.

(c) All provisions of these Terms and Conditions which in order to give effect to their meaning need to survive the suspension or termination of the

Internet Banking for Business Service and/or the use of the Internet Banking for Business Service by the Business shall remain in full force

and effect after suspension or termination including, without limitation, Clauses 1.9(b), 1.10, 1.14, 1.15, 1.16 and 1.17. Notwithstanding such

suspension or termination, the Business shall continue to be bound by these Terms and Conditions to the extent that they relate to any obligations

or liabilities of the Business that remain to be performed or discharged.

1.19 AMENDMENTS

The Bank may revise these Terms and Conditions and/or introduce additional Terms and Conditions at any time and from time to time. Any

revision and/or addition to these Terms and Conditions shall become effective subject to the Bank's notice which may be given to the Business by

posting it on the Internet Site(s) or by display, advertisement or other means as the Bank thinks fit, and shall be binding on the Business if the Authorised Internet Banking User(s) continues to maintain or use the Internet Banking for Business Service on or after giving of notice by the Bank.

1.20 COMMUNICATION

(a) The Bank shall be entitled to prescribe, from time to time, the form of notice (whether written or any other form) and the mode of

communication with respect to each type of notice to be given pursuant to these Terms and Conditions.

(b) Communications delivered personally, sent by post, facsimile transmission, telex or email shall be deemed to have been received by the

Business (where delivered personally) at the time of personal delivery or on leaving it at the address last notified in writing by the Business to the

Bank, (where sent by post) seven days after posting or (where sent by facsimile transmission, telex or email) immediately after transmitting to

the facsimile or telex number or email address last notified in writing by the Business to the Bank. Communications sent by the Business to the

Bank shall be treated as delivered to the Bank on the day of actual receipt.

1.21 SEVERABILITY

Each of the provisions of these Terms and Conditions is severable and distinct from the others and, if at any time one or more of such provisions

is or becomes illegal, invalid or unenforceable in any respect under the laws of any jurisdiction, the legality, validity or enforceability of the

remaining provisions shall not be affected in any way.

1.22 WAIVER

No act, delay or omission by the Bank shall affect its rights, powers and remedies under these Terms and Conditions or any further or other exercise of such rights, powers or remedies. The rights and remedies under these Terms and Conditions are cumulative and not exclusive of the rights and remedies provided by law.

1.23 MISCELLANEOUS

These terms and conditions will automatically stand amended if such amendments are necessitated by law, government regulations or instructions issued by the Central Bank of Sri Lanka or any other statutory body.

All terms and conditions contained herein are subject to the provisions of the Exchange Control Act or any regulations made thereunder from time to time.

1.24 GOVERNING LAW AND JURISDICTION

These Terms and Conditions shall be governed by and construed in accordance with the laws of Sri Lanka without prejudice however to the Bank's right to take legal proceeding under any other law or jurisdiction.