Article 8. Event of force majeure

1.         Events of force majeure are the event incurring objectively that each party or parties in Contract cannot predict and overcome to perform their obligation under Contract in spite of applying all necessary measures and capability.

2.         Parties agree that one of the following cases shall be considered as event of force majeure:

a. War or disaster or changes of state lawful policies;

b. Decision, request of state competent authority, card support organization taking part in prevention of money laundering, fraud, etc.

c. Error of line breakdown, electricity, network, device, virus, technical errors, interruption in providing service from provider, the third party providing with service to VPBank, etc unexpected incur, out of VPBank’s control. 

d. Events incurring objectively, unpredictably and irreversibly although VPBank applies all necessary measures and capability;

e. Other cases prescribed by laws.

3.         In case of event of force majeure, VPBank might notify Customer to know, apply maximally measures to limit, settle errors, and ensure to continuously provide with service to Customer to the extent possible. Not depending on regulations of this point, one of Parties affected by event of force majeure causing not to perform their obligation under Contract shall not be considered as violation of obligation under Contract and the evidence for the other party to request compensation, punishment for violation and other rights regulated in Contract.