Article 14. Force Majeure

1.     Force majeure refers to an event which is objective, unpredictable and uncorrectable though all necessary measures have been taken and all possible capabilities are used.

2.     The Parties agree that one of the following circumstances shall be considered a Force Majeure Event

a)     War or natural disacter or changes in the State policies and laws;

b)     Decisions and requests of the State competent authorities, international card institution, international organizations and foreign organizations participating in anti-money laundering and fraud prevention, sanctions, embargoes and anti-terrorist financing, etc.;

c)     Problems on transmission line, electricity, network, equipment, viruses, technical errors, etc., are happened suddenly, beyond the proper control of VPBank or arising out of interruption in the provision of services from suppliers, third parties that provide services to VPBank.

d)     The events that all necessary measures have been taken by VPBank in accordance with the law but cannot be uncorrectable;

e)     Other cases as prescribed by the laws.

3.     When a force majeure event occurs, VPBank shall, to the permitted extent, notify the Cardholder, apply all measures to mitigate, correct the problem and provide services to the Cardholder in a continuous manner. Notwithstanding the provisions of this Clause, one of the Parties/Parties affected by a Force Majeure event resulting in the failure to perform its obligations under this Contract shall neither be considered a breach of its obligations under the Contract or the basis for the other party to request compensation, fines and other rights under the terms of the Contract.