Article 3. Rights and Obligations of VPBank

1. Rights of VPBank

a.    Be exempt in case of force majeure such as error of process system, communication system or any reason out of VPBank’s control causing the fact that Customer’s Account cannot perform transaction, may be misused due to loss, being stolen or other cases of Customer’s fault.

b.    Be exempt for: (i) use on right or wrong purpose of Customer’s Account; (ii) All fraud or counterfeiting causing VPBank Timo due to violation or fault of Customer; (iii) Any harm affecting reputation, image and fame of account holder when VPBank requests Customer to terminate/stop using account due to violations or fault of Customer.

c.    Not take responsibility about delivery, quality of goods, services paid via account (if any).

d.    Have right to refuse to perform payment order of Customer in case: (i) Customer fails to fully implement requests of payment procedure; payment order is unduly; not compatible with registered factor or agreements between VPBank and Customer; (ii) Customer has not enough balance in the account to perform payment order or exceeds overdraft limit to perform payment order in case of overdraft agreement between VPBank and Customer; (iii) A written request of state competent authority or evidence about payment transaction involving in money laundering, embargoing, punishment, terrorism financing according to provisions of law on money laundering prevention and regulations of VPBank; (iv) Spend account is temporarily locked, entirely blocked or spend account is closed, temporarily closed or partially blocked but unlocked or blocked part is not enough balance.

e.    In case VPBank finds out that Customer violates current regulations or the General Transaction Terms and Conditions, or any signs of lawful violation, VPBank shall be entitled not to perform Customer’s request of using payment services, keep exhibit and promptly notice competent authority to consider and handle.

f.     Have right to use the information about Customer and credits of Customer, including the information from documents provided by Customer; contracts, documents signed between Customer and VPBank to provide competent authorities requiring providing information under regulations of laws.

g.    Provide competent parties with the information about service of Transaction Account to serve investigation, claim of account transaction under laws.

h.    Have right to temporarily lock, close spend account in cases: (i) Customer request and perform fully obligations related to spend account; (ii) Customer die, miss or has no civil capacity; (iii) VPBank suspects about mistake, inaccuracy in performance of transactions related to Account; (iv) there is any dispute regarding Account; (v) Customer violates regulations related to VPBank’s policy of Account maintenance, management; (vi) Customer violates regulation of opening and use of spend account in the General Transaction Terms and Conditions; (vii) To ensure payment obligation, debts, other financial obligations of Customer to VPBank; (viii) Other cases notified publicly on the website of Timo and/or Timo Application and under regulations of laws. In case Account is temporarily locked at the request of Customer, VPBank shall stop temporarily locking Account at the duly request of Customer. In other case of temporarily locking, VPBank shall stop temporarily locking under decision of competent authority or until termination of the event causing temporarily locking according to evaluation of VPBank.

i.      Have right to block a part of or the whole amount in spend account in cases: (i) a written request of competent authority under regulations of laws; (ii) VPBank finds out any mistake, inaccuracy when Crediting wrongly in Spend Account of Customer or at the request of refunding from organizations providing remittance payment service due to mistake, inaccuracy in comparison with payment order of remitter. The amount blocked in spend account does not exceed the mistaken, wrong amount; (iii) other cases under regulations of laws. Immediately after blocking Spend Account, VPBank shall notify Customer or guardian or legal representative of Customer about reason and blocking scope of Account in the form in accordance with the General Transaction Terms and Conditions. Termination of blocking shall be performed under regulations of laws by VPBank.

j.      Freely transfer money (Debit) in the following case: (i) Collect due, overdue debts, interest and other costs arising during managing account and providing payment service according to agreement with Customer and under provisions of laws; (ii) At the request of State competent authority in forcing to execute decision of administrative violation punishment, decision of judgment execution, decision of tax collection or performing other obligations under laws; (iii) Adjust items accounted incorrectly, or not complied with the using content of spend account under laws and notice Customer to know; (iv) When finding out Crediting incorrectly into Customer’s Account or at the request of canceling Credit Remittance Order of organization providing remittance payment service because such organization discovers inaccuracy in comparison with payment order of remitter; (v) Make regular, periodical payment under agreement of account holder and organization providing remittance payment service; (vi) Offset obligations of Customer at VPBank and handle other case under agreement between Customer and VPBank.

k.    Notify changes of Service, promotion programs of Service, warn the risks when performing Service and other notice serving for use of Service to Customer in the forms that Timo finds suitable (such as send message via telephone, email, document, via website, at Timo’s transaction points and media).

l.      Request Customer to provide relevant information when using payment service under regulation.

m.  Request Customer to compensate all actual damage arising from Customer’s violation of regulations about use of account under this agreement and stipulations of VPBank and provisions of laws.

n.    Refuse the request of temporarily locking, closing spend account of Customer or not block common spend account according to regulations of laws when Customer has not implemented payment obligation under forcing decision of state competent authority or not paid fully all payable debts to VPBank.

o.    Regulate the minimum balance in spend account and notify publicly, guide specifically for Customer to know.

p.    Regulate and apply measures to ensure safety and security during opening and using spend account in accordance with provisions of laws.

q.    Other right under the General Transaction Terms and Conditions and laws.

2. Obligations of VPBank

a.       Respect rights and benefits of Customer under the General Transaction Terms and Conditions.

b.      Fully and promptly perform payment orders after checking, inspecting legality, validity of such payment orders.

c.       Protect the information about Account of Customer, not transfer the information of Customer to the third party without approval of Customer unless required by state competent authority and/or regulated specifically in the General Transaction Terms and Conditions.

d.      Compensate the actual damage arising from VPBank’s violation of regulations about providing account service under this agreement and regulations of laws.

e.       Other obligations under provisions of laws.