General Terms and Conditions

A1	INTRODUCTION

These terms and conditions refer to the Internet Banking being offered at Dashen Bank and the general rules of good banking business. As partners we will guide you through all the possibilities that we make available to you. Our staff will help you in all your financial endeavors and we will make it our top priority in defining for you business solutions that you can only get at Dashen Bank. We thank you for having chosen Dashen Bank and assure you of complete confidentiality. However, it is apparently clear that the bank cannot waive its legal obligations to disclose information related to a customer’s account and its financial transactions where it is required by law or the competent authority.

General Terms and Conditions

l.1 These are the Terms and Conditions of your agreement with Dashen Bank in relation to the Internet Banking. They apply to the account(s) you designate to be accessed through the internet banking.

1.2. Your agreement with us is contained in:

· the Account Application Form (completed and signed by you, the customer);

· these Terms and Conditions, as changed by us from time to time depending on new products and new regulations; and accessible online

· any additional Terms and Conditions which comprise those relating to our charges, interest rates, notice periods, maximum and minimum balances and other features for each type of account or service.

We will tell you about any additional Terms and Conditions when you open an account or apply for a new service. They are also set out in leaflets which you can ask for at any time or pick up in our branches.

1.3. 1.3.1. Individuals are personally responsible for any money owed to us.

1.3.2. Joint account holders/partners of partnerships are individually and jointly liable for money owed to us, even if one of you has subsequently ceased to be a partner unless we have agreed otherwise in writing.

1.3.3. Unless otherwise agreed between us, individuals or trustees authorised to give instructions on accounts of clubs, charities, associations are individually and jointly liable for money owed to us.

1.3.4. The authorised signatories to a limited company’s account are not normally personally liable for money owed to us, unless they have entered into a separate agreement with us.

1.4 The Internet Banking transactions between the Bank and you (its Clients) are subject to these general terms and conditions as well as other specific/supplementary agreements, The Banking Business Proclamation, the Financial Intelligence Center Establishment Proclamation, The Counter Terrorist Financing and Money Laundering Regulation and all other applicable laws of the country.

1.5. We will use the address and any other contact details held in our records to contact you, unless otherwise agreed. All statements and notices sent to a client in relation to the internet banking is deemed to have been received by the client as soon as we send it or the client can view details on the bank’s web-site.

1.6. You may contact us using the address and other contact details we give you when you open your account internet user account & posted online. A written notice via e-copy & posts online will be provided to you if any changes occur.

1.7. The Bank will display these GENERAL TERMS AND CONDITIONS at its branches, and on the Bank's online web site. Any changes to the GENERAL TERMS AND CONDITIONS are immediately displayed at the branches and are available on the online web site.

B2	INSTRUCTIONS

2.1. You can give us instructions either in writing or by telephone or facsimile, unless we tell you that instructions can only be given in a limited way on a particular account or service.

2.2. If you choose to give us telephone instructions (including facsimile) we will agree security procedures for authenticating those instructions and require you to sign an indemnity form.

2.3. We may apply limits to telephone instructions from time to time. We may vary these limits at any time with immediate effect.

2.4. You agree to keep all security procedures, codes and your personal identification codes secret, never to disclose them to anyone and take all reasonable care to prevent their unauthorised or fraudulent use.

2.5. You authorise us to act on instructions given:

a) on documents bearing your original signature(s); or

b) by telephone (including facsimile), provided that we have followed the security procedures agreed between us, whether or not such telephone or facsimile instructions were given by you.

2.6. if you know or have any reason to suspect that someone else knows your codes or personal identifiers, you must immediately contact us. Until you do so, you will continue to be liable for all instructions that we receive and act on in accordance with Condition 2.5. Unless it is shown that you acted fraudulently or with gross negligence or in breach of Condition 2.4, , however, the scenario (reverse) reading of this stipulation is that the Bank will be held liable for any transaction undertaken after the client notified the bank. The mere fact the client has contacted the Bank will relieve him of any liability without a need to demand suspension of transactions or closure/deactivation of the account or the services.

2.7. We may ask you to provide written confirmation and to co-operate with us if we have received instructions relating to your account which were not given by you.

2.8. We can refuse to act on any instruction if:

a) we have good reason to believe that you did not give us the instruction; or

b) we doubt the authenticity of the instruction or do not consider it to be sufficiently clear; or

c) we believe that by carrying out the instruction we might be in breach of any law, regulation, contractual obligation, code or other duty which applies to us; or

d) we may also refuse to act on an instruction under Condition C2.8.

2.9. You will be responsible for all instructions received by us from an authorized signatory even if the authorized signatory does something which makes you break these Terms and Conditions. If you wish to cancel any authorization at any time you must inform us in writing.

B3	FEES, COMMISSIONS, CHARGES AND OTHER RELATED EXPENSES

Bank Fees or charges are levied on the Client's account for use of Bank facilities, either as a fixed sum or as a percentage of the amount of the transaction. The Client's account is debited for any additional expenses incurred during the processing of Client Orders, e.g. courier fees, third party charges and commissions.

Relevant banking service Fees are specified in the Bank's Tariff guide, the Bank’s website or is available upon request. If a particular agreement contains a special regime of interest and/or charges and commissions different from those indicated in the Bank's web site, these conditions can only be modified in such manner as is defined in the Agreement.

3.1. The amount and time of payment of charges for our most frequently used services are detailed in the Dashen Bank schedule of charges. A copy is available on request. We may vary at our discretion all charges payable by you. We will be pleased to supply you with details of our charges for other services when you request them.

3.2. You authorise us to deduct our charges from your account(s).

3.3. We may vary the interest rate you pay to us or we pay to you for any of the following reasons:

a. as a result of prevailing market conditions;

b. as a result of changes in our overall costs of providing services to you;

c. as a result of prudent management and practice of our business;

d. to reflect changes in law or regulatory requirements;

e. for any other valid reason.

B4	CLOSING AND TRANSFERRING YOUR ACCOUNT

4.1. If required, you may give us written instructions to close any account; the authority must be signed in accordance with the Mandate signed by you and given to the Bank. In the case of joint accounts all account holders must sign.

4.2. Dashen Bank S.C may cancel this Agreement and terminate your use of Internet Banking for any reason, at any time, but the customer’s right to cancel the agreement should be subject to the Terms and Conditions of the Internet Banking and other provisions of the user agreement.

4.3. We may take actions to close your account immediately if we reasonably believe that:

a) you are no longer eligible to operate an account;

b) you have given us false information on the Customer Relationship Form when applying for the opening of an account;

c) you or someone else is using the account illegally; or

d) you have been in serious or persistent breach of this Agreement or any additional conditions which apply to an account.

B5	PROVISION OF ACCOUNTS AND SERVICES AND VARIATIONS

5.1 We reserve the right to refuse to take a deposit or to decline to open an account or to provide a service or require an account holder to close their account(s) without giving any reason for our decision.

5.2. We may at any time vary these Terms and Conditions and add to, vary or withdraw features of our services. We will give you reasonable notice of any changes. We will use our reasonable endeavours consistent with good banking practice, to ensure that if the change is material (as determined by us in our absolute discretion) the notice period we give you is sufficient to ensure that you have an opportunity to take any action, as appropriate

5.3. Unless we tell you otherwise, notice will be given in writing or by putting messages on your statements.

B6	LIMITING OUR LIABILITY

6.1. We will not be liable to you for any loss you may suffer if we do not act on your instructions for any reason referred to in Conditions B2.8 or C2.8 or we cannot provide, or are delayed in providing you with, any banking or other services as a direct or indirect result of anything outside our reasonable control. This includes but is not limited to:

a) industrial dispute;

b) failure or fluctuation of power or telecommunication supplies;

c) breakdown in computer hardware or other equipment or error in any software;

d) any error or discrepancy in your instructions;

e) any failure or delay in the supply of services to us by any third party.

6.2. We will not be liable for any indirect or consequential losses including (but not limited to) any loss of or damage to goodwill, profits or anticipated savings if we fail to act on your instructions for the reasons referred to above or any other reason whatsoeverexcept as specifically set forth herein or where the law requires a different standard, we shall not be responsibility for any loss, damage or injury or for any direct, indirect, special, incidental, exemplary or consequential damages, including (but not limited to) lost profits, loss of data, files, profit or goodwill or the costs of procurement of substitute goods or services, arising from or related to the service, the inability to use the service, or otherwise in connection with this agreement, even if there may be a prior advise of the possibility of such damages.

6.3. Our liability for any loss, injury or damage resulting from any failure, delay or error in carrying out your instructions (however caused) shall be to the lower of:

a) the amount of such loss, injury or damage;

b) the amount of any interest you may fail to earn or interest you may incur as a result of any such failure, delay or error less a sum equal to any interest which you would not have been entitled to receive, or would have been obliged to pay, if no such failure, delay or error had occurred.

6.4. No claim may be made against any member of the Dashen Bank unless written notice of such claim, giving reasonable details shall have been received by us within three months after the event or omission giving rise to any such claim.

6.5. We will not be liable in any circumstances for any losses which are not directly caused by our actions or which we could not reasonably have foreseen.

6.6. The Bank is not liable for any damages that arise from the loss or mutilation, nor from loss of a PIN Code or an Internet Bank Login and Password, nor for any indiscretions on the part of a Client. The Bank is not liable for Client losses that arise due to Clients negligence.

6.7 To prevent and combat money laundering and terrorist financing, the Bank enforces the rules and regulations defined in applicable international treaties, the Financial Intelligence Center Establishment Regulation, The Counter Terrorist Financing and Anti-Money Laundering Proclamation, The Banking Business Proclamation and other relevant laws of Ethiopia.

DATA

7.1. You agree that we may use, hold and process, by computer or otherwise in any location whatsoever any information given by you in your dealings with us, or obtained by us in connection with, or as a result of, these Terms and Conditions and any information relating to your accounts.

7.2. You agree that we may:

a) Use Data for banking and credit assessment, statistical analysis including behavior and credit scoring, and to identify products and services (including those supplied by otherz third parties) which may be relevant to you; and

b) Store and process information obtained by us or given by you in your dealings with us on Dashen Bank computers and in any other way.

7.3. We will disclose Data only:

a) for fraud prevention purposes;

b) to licensed credit reference agencies (in relation to the conduct of your account(s));

c) under a strict code of secrecy to subcontractors or persons acting as our agents;

d) to any person who may assume our rights under these Terms and Conditions; and

e) if we have a right or duty to disclose or are compelled to do so by law.

B8	JOlNT ACCOUNTS

8.1. We cannot accept telephone or electronic instructions if you have told us only to accept instructions given by more than one of you.

8.2. As joint account holders, you are individually and jointly liable to repay any money owed to us and we may demand repayment from either, any, or all of you.

8.3. where upon the death of any joint account holder dies, following liquidation of the deceased’s property (estate), his/her portion will be transferred to his/her heirs or legatees, allowing the survivor joint account holder to make payments from the specific joint account before the conclusion of the liquidation process shall entail responsibilities to the Bank.

B9	BANK STATEMENTS

9.1. We can check & see your statements periodically showing all entries on your account transactions or any payment order or transaction whether made electronically or otherwise.

9.2. You agree to check your statements carefully and contact us as soon as possible if your account includes an item which appears to you to be wrong or not made in accordance with your instructions.

9.3. We will correct any entries we make to your account by mistake as soon as possible after you tell us about them or we notice them.

9.4. We will supply additional statements on request. A charge may be made for supplying these.

B10

APPLICABLE LAW

11.1. Any banking Terms and Conditions implied by law will also apply to our relationship with you unless varied or amended by any specific Terms and Conditions relating to an account or service or by these Terms and Conditions.

11.2. Applicable law concerning interpretation and enforcement of the provisions of these GENERAL TERMS AND CONDITIONS is the Ethiopian legal system. Ethiopian Courts will have jurisdiction to adjudicate cases arising from or related to these general terms and conditions.

B11

COMPLAINTS PROCEDURES

If you have a complaint, you should contact us, at your earliest convenience, at our Head Office at Beklo Bet, Debrezeit Road, e-banking services Department, and 6th floor or phone us on 0114-672055. The Bank will do all its best to rectify anything that may have gone wrong, on our part.

C1	AUTHORIZATION

1.1. Right of disposal of Account Holders

Before executing payment Orders and other instructions, the Bank shall check the validity of the Client as follows:

In the case of the Internet Bank facility, the Order authority will be verified by the Client Login and Password as well as by the Digital Signature generated by the Internet Bank system. If the Client's entitlement to operate an account has been cancelled, the relevant Internet Login and Password and specimen signature of the Client cannot be used for further Orders. The Bank shall not be liable for any consequences resulting from the execution of any false or forged Order if it is shown that, even after diligent examination, it was impossible to discover the falseness or forged nature thereof.

1.2. Authorised Persons

Account Holders may grant the right to manage their account to any person so AUTHORISED by them, provided that such delegation is made in the Application. An Account Holder is entitled to withdraw the authorization at any time, in writing. In the event of the Account Holder's death, all authorizations will be null and void from the date the Bank is duly informed of the death unless push by law. The AUTHORISED Person and the Account Holder shall hold joint and individual liabilities for all Orders and instructions given to the Bank.

1.3. Processing of Orders

1.3.1 Receipt of Orders

All Orders given to the Bank dealing with Client Accounts should be made through the Internet Bank, on the Bank's Standard Order service or other agreed method. All Orders must have the name and number of the bank accounts, both the Client's and the target account. The Bank is not responsible for the correctness of the data concerning the target account, and is in no way responsible for verifying the correctness of the said data, thus the Bank can in no way be liable for any loss or damage that may arise due to incorrect target account names or numbers. The content and time of the Order or other instruction given by a Client is as follows:

1.3.2 Forwarding of Orders, involving a Corresponding Bank

Unless specified in the Order itself, the Bank chooses the method of forwarding Orders. Forwarding is executed at the expense and risk of the Client. The Bank is entitled to use a Correspondent Bank in the execution of Orders, but if the Client nominates a Correspondent Bank, the Bank is not liable for any subsequent losses.

1.3.3 Forwarding of Orders, involving a Corresponding Bank

Debit Orders are processed on the next banking day following receipt of the Orders. Credit Orders in the Client's favor are processed on the next Banking day following the credit amount being lodged with the Bank.

The Bank will only process debit Orders if there are sufficient funds in the Client's account to cover the Order and all related charges, and costs. The Bank does not execute partial payments. Costs and losses arising from non-execution due to insufficient funds are charged to the Client in full.

1.3.4 Communication

All communication between the Bank and its Clients should be via online (e-mail) or through telephone. Both parties must answer questions raised by each other and draw each other's attention to any mistakes or negligence that may be observed. Instructions for account transactions can be done via the Internet, instructions by Letter, Fax instructions (Letter of discharge to be signed prior). Customers can carry out Counter Transaction and can use their debit cards.

Written notices from the Bank shall be deemed as delivered to the Client after the usual delivery period provided that they were sent to the Client's usual address, registered or otherwise known to the Bank, notwithstanding that the address belongs to a third party AUTHORISED to receive documents on behalf of the Client.

In certain circumstances information concerning a Client's account can be disclosed over the telephone if and only if the Client uses their Client Identification Code.

1.3.5 Modification and Withdrawal of Orders and other instructions

No Order given through the Internet Bank can be withdrawn or modified. The only way to rectify an incorrect Order is to send a new contra Order, which must be done via the Internet Bank. In the event that loss or damage results from incorrect or false data or information supplied by the Client, then the Client is liable to the Bank and to any other banks collaborating and processing relevant bank data.

D1	TERMS OF BANKING OPERATIONS (products Offered)

The terms and conditions refer to Dashen bank existing products and all those products that the Bank will provide its clients from time to time.

A bank customer can perform non-transactional tasks through online banking, including -

1.1 Viewing account balances

1.2 Viewing recent transactions (Mini Statement)

1.3 Downloading Bank Statements

1.4 viewing latest exchange rate

1.5 Ordering cheque books

1.6 Download periodic account statements

1.7 Stop payment instructions on cheques

1.8 Send and view bank correspondence

Bank customers can transact banking tasks through online banking, including -

2.1. Fund Transfers between the customer's linked accounts

2.2. Paying third parties, including bill payments and third party fund transfers

2.3. Salary upload

2.4. utility bill payment

E1	MISCELLANEOUS PROVISIONS

The Bank automatically debits the Current Account with all the Fees and charges pertaining to Account transactions. All other Fees relating to this Agreement are specified in the Tariff schedule.

1.1 Claims

In the event that an Account Holder disagrees with the Current Account balance or information concerning Transactions, the Bank must be informed immediately. If necessary the Account Holder, along with the co-holders for that account, should send a written claim to the Bank enclosing the necessary documents if, for instance one of the following situations arises:

A non-acknowledged transaction

A failed transaction

A problem concerning the settlement of a transaction

A legal problem

It is in the Account Holder's own interest to inform the Bank about any damage as soon as possible after the event. The claim should be lodged with the Bank at the latest in thirty (30) days after the transaction; otherwise the Bank is not obliged to act. The Bank will examine the claim within thirty (30) days after its receipt.

F1	ADDITIONAL CONDITIONS

1.1 Performance of Due Diligence by the Bank

While the Bank has an Agreement with the Client, the Bank has the right to verify that the Client is entitled to initiate the requested transaction, and to check the data registered with the Bank. Provided these requests are reasonable the Client cannot object to these control procedures. If the Client does not comply with such a request for supplementary information or verification, the Bank is entitled to refuse any order and may, if it thinks fit, terminate the Agreement with extraordinary notice.

1.2 Privacy Policy

All information given to Dashen Bank by its clients is kept in the strictest confidence; this includes all application forms, declaration of Source of Funds and all other communication between the client and the bank.

Certain information can only be divulged to certain legally empowered authorities in accordance with the laws of the country. It is strictly forbidden by law for anyone who performs his duties or exercises his functions to disclose any information thus received.

1.3 Amending General Terms and Conditions

Any changes that are made to these GENERAL TERMS AND CONDITIONS are found on the 'News' page of the Bank's website. An updated form of the GENERAL TERMS AND CONDITIONS are displayed at the Bank's branch and Representative Offices. Clients are deemed to be apprised of and bound by these changes. Nevertheless the Client is entitled to object to these amendments in respect of his or her own Agreement with the Bank, however he or she must notify the Bank in writing within 30 days of the amendments being published, or the Client looses the right to object.