Article 9. Rights and Obligations of the Customer

Rights of VPBank:

  1. To refuse the receipt and payment of Deposit in accordance with the Term Deposit Agreement, General Conditions if the Customer fails to follow terms as specified in the Term Deposit Agreement, General Conditions, regulations of VPBank from time to time and/or agreements with VPBank,
  2. To have the right to refuse any payment of Deposit in accordance with the Term Deposit Agreement, General Conditions in case the Term Deposit Agreement has been taked advantage of but not due to VPBank’s fault;
  3. To request the Customer to provide relevant information in each period for the purpose of Customer management;
  4. To have the right to notify and request the Customer to make the settlement before the due date or not to continue prolonging the Deposit duration of the Term Deposit Agreement, General Conditions as prescribed by law;
  5. To provide agencies and organizations with information related to the Customer’s Deposit and Customer himself or herself in accordance with provisions of laws, regulations of VPBank and/or related inter-governmental agreements;
  6. To use the information related to the Customer’s Deposit and Customer himself or herself including information from documents, papers provided by the Customer; contracts, documents signed between the Customer and VPBank in the course of providing such information for entities specializing in providing credit information and/or credit rating services legally operating in Vietnam, or the competent authorities requiring the provision of information in accordance with law or relevant partners with VPBank for the purpose of developing, providing or relating to the supply of VPBank’s products and services;
  7. To request the Customer to transfer or maintain sufficient deposit balance on the Spend Account so that VPBank is able to deduct the Deposit according to mutual agreements in the Term Deposit Agreement and General Conditions;
  8. To request the Customer to take full responsibilities for resolving all disputes, complaints and claims related to the Customer’s Deposit;
  9. To have the right to suspend or block (temporarily suspend all active transactions from the Customer for a part or all of the Term Deposit of the Customer under the Term Deposit Agreement; General Conditions), deduct, or terminate the temporary custody and blockade of Customer’s Deposit upon written request of competent state agencies according to the provisions of laws or other requests/agreements with the Customer;
  10. To have the right to automatically deduct from the Customer’s Spend Account opened at VPBank, the Deposit subject to the Term Deposit Agreement, General Conditions for the purpose of paying fees and charges that the Customer must pay to VPBank as specified by the Term Deposit Agreement, General Conditions;
  11. To obtain other rights as stipulated in the Term Deposit Agreement, General Conditions and other written agreements between the Parties and provisions of the relevant laws (including provisions of the Law on preventing and combating money laundering and terrorism financing);
  12. To have the right to temporarily seize and block the Customer’s Deposits upon written requests of the competent state agencies;
  13. To obtain other rights as stipulated in the Term Deposit Agreement, General Conditions, and provisions of laws (including provisions of the Law on preventing and combating money laundering and terrorism financing, regulations on adherence to sanctions, and FATCA compliance) and other relevant regulations of VPBank.

Obligations of VPBank:

  1. To pay the principal and interest on time and in full according to the agreements with the Customer in the Term Deposit Agreement, General Conditions;
  2. To keep the Customer’s deposit balance confidential in accordance with the provisions of laws and VPBank’s regulations;
  3. To ensure safety for deposits of the Customer;
  4. To fulfill other obligations as stipulated in the Term Deposit Agreement, General Conditions, and provisions of laws (including provisions of the Law on preventing and combating money laundering and terrorism financing, regulations on adherence to sanctions, and FATCA compliance) and other relevant regulations of VPBank.