Article 3. Rights and obligations of VPBank Timo

3.1. Rights of VPBank Timo

  1. To be exempt from liabilities in case processing system or communication system failing or for any reason beyond the control of VPBank Timo makes the Card or PIN of the Card holder unable to perform transactions, causes losses or and advantages; or in case VPBank Timo fails to send or has sent, but not received by the Card holder, messages and notices related to fluctuations of the account balance or notices on other issues related to the card account of the Card holder due to system failures, communication line failures, technical errors, incidents of the service provider/of VPBank Timo or due to any objective reasons; and in other cases of fault of the Card holder.
  2. To be exempt from liabilities for: (i) any missing, theft, proper or improper use of the Card or disclosure of the PIN or card details of the Card holder (ii) Any acts of fraud or forgery caused to VPBank Timo or any CAU (iii) Any harm to credit, image and reputation of the Card holder related to Card withdrawal or request by VPBank Timo of Card return or suspension/stop.
  3. To bear no responsibility for delivery, quality of goods and services paid by card. To be entitled to debit on the card account the value of goods and services whether or not goods and services have been delivered or carried out.
  4. To handle tracer and complaints from the Card holder according to the manner, documents and time of tracer request under provisions of VPBank Timo and domestic/international card institutions in which VPBank Timo is a member from time to time.
  5. To be held harmless in case complaints and tracer requests of the Card holder are not handled by the paying bank/domestic/international card institutions under their provisions.
  6. To request full payment by the Card holder of card expenses and related profits and costs in the period by the due date.
  7. To take measures of remote reminding including but not limited to sending written notice of debt collection, sending messages by phone, making phone calls, and implementing measures to collect debts when the Card holder fails to fulfill all payment obligations under this Agreement.
  8. Where the Card holder fails to make timely payment to VPBank Timo as prescribed, VPBank Timo may collect debt from the security property or any other property of the Card holder without a certifying signature or seal of the Card holder. If VPBank Timo collects debt from deposit account or savings book of the Card holder to pay for debts incurred, that account or savings book shall apply the interest rate as prescribed by VPBank Timo. In that case, VPBank Timo is not liable for the change of deposit term of the Card holder.
  9. VPBank Timo may collect and verify any information related to the Card holder from any agency that VPBank Timo see fit (including but not limited to any credit institutions or any other organizations or companies establishment to assess credit rating of individuals, from staff of the Card holder or other relevant staff and/or VPBank Timo or credit institutions in Vietnam or in any other places).
  10. To automatically debit on the Card holder’s account costs, interest and payments related to Card transactions.
  11. To provide competent parties with details of the Card holder and transaction account for the purpose of tracer and complaint of card transactions in accordance with the law.
  12. To terminate use of the Card by the Card holder by cancelling or withdrawing the Card if the Card holder violates conditions and terms of use of the Card under this Agreement, uses the forged Card or Card suspected forged.
  13. To use details and credits of the Card holder, including all information from documents provided by the Card holder; contracts and documents signed between the Card holder and VPBank Timo to provide to agencies with function to provide credit information services and/or credit rating legally operating in Vietnam, or provide to competent agencies requesting information in accordance with the law.
  14. To automatically extract the Card holder’s account in the following cases: (i) Payment of due and overdue debts, interest, and other valid costs incurred during use of the Card (ii) Compensation of obligations of the Card holder at VPBank Timo and to handle other cases as agreed between the Card holder and VPBank Timo.
  15. To make notice of products, services and promotional programs of VPBank Timo and make warning of risks upon performing services and other notices serving the use of services to the Card holder in the manner deemed fit by VPBank Timo (including but not limited to sending messages, email, etc.)
  16. Other rights under this Agreement and provisions of law.

3.2. Obligations of VPBank Timo

  1. To be committed to regulations on issuance and payment of international credit cards of international card institutions and the law.
  2. To respect rights of the Card holder under this Agreement.
  3. To keep details of the Card holder unless otherwise stated.
  4. To handle tracer requests and complaints from the Card holder; to comply with tracer and complaint handling regulations of domestic and international card institutions.