Terms and Conditions for services and products of Timo

TERMS AND CONDITIONS

Terms and conditions that members need to know when using Timo products and services.

TIMO MEMBERSHIP AGREEMENT

Timo is a customer centric channel providing Timo Services operated by Vietnam Prosperity Joint Stock Commercial Bank (“VPBank”) through its technical cooperation with Global Online Financial Solutions Limited (“GOFS”) and/or other partners appointed by GOFS. Any reference to Timo as an entity hereby means the VPBank Timo Channel.

Your use and access to Timo Services are subject to the Contract, which consists of: your Member Application Form (Contract of Opening and Using Account/Debit Card/Digital Banking); the Timo Membership Agreement (this document); the Timo Terms and Conditions for Current Account/Debit Card/Digital Banking, the Terms and Conditions for additional product/service that you may apply for from time to time, and the Timo Member Fee Schedule.

You confirm that you have read, understood and will comply with these Terms and Conditions.

I. General

These Terms and Conditions are deemed valid when you register for Timo Services and expire upon the termination of Timo Services.
Timo has discretion to accept or reject your registration in compliance with these Terms and Conditions and National Laws and Regulations.
By completing the registration process, you will be able to perform account, payment and savings transactions using the following account types: Timo Spend, Timo Goal Save and Timo Term Deposit. A Timo Debit card will be issued immediately and will be valid for the duration of the Contract.
When accessing Timo at a later date, you will be eligble to apply for other additional accounts/services which Timo offers from time to time by providing your digital authorisation Security Codes. You hereby agree that every application to additional products/services sent to Timo with your Security Codes shall mean you agree to the product/service’s Terms and Conditions, has the same legal value as the application with your wet signature and shall form a binding contract between you and Timo, given that Timo accepts such application.
You may receive an OTP when performing certain Timo transactions, either via a Push Notification sent directly to your mobile App, or Short Message Service (SMS) to your mobile phone number, or email to your email address registered with Timo. Delivery time of the OTP is dependent on the service level of your subscribed Internet Service or Mobile Network Provider. If you request for an OTP more than once, the previously requested OTP will be rendered invalid and the latest request will be the valid OTP for use on Timo.
Your use and access to Timo Services shall not be transferred, pledged or otherwise used by any other person.

II. Your Rights

You may use all Timo Services including registered services and future services which will be provided by Timo.
If your information has changed or is incorrect, you may edit sections of your profile using the App, or request to change your personal information by contacting Timo.
You may participate in Member programs that are offered by Timo from time to time.
You may opt out of receiving promotional emails and text messages from Timo by following the instructions in those messages. Please note that if you opt out, Timo may still send you transactional or relationship messages, such as those about your account or our ongoing business relations.
You may disable the collection of location information by Timo within the mobile App, through your device operating system settings or through your online account settings. The standard uninstall process to remove the mobile App from your device will also disable the collection of location information.
You may set your browser to remove or reject browser cookies. Please note that if you choose to remove or reject cookies, this could affect the availability and functionality of Timo Services.
You may request Timo to provide support regarding any matter of concern, including but not limited to: failure in accessing Timo Services; suspicion of exposure of your Security Codes; resetting of Security Codes; fixing of bugs; or technical problems related to the security of Timo Services.
Other rights under the National Laws and Regulations.

III. Your responsibilities

You shall ensure that all information provided is accurate and correct, and to update and notify Timo of any changes to your information.
You shall take all precautions to ensure and prevent unauthorised and fraudulent use of any Timo Services and your Security Codes, including but not limited to the following:
- Security Codes must be kept secret, not accessible to any person and not written down in any form or manner which may be deciphered by anyone or kept together or disclosed or exposed to any person (including the employees of Timo) under any circumstances and at any time. Any advice sent to you containing the Security Codes must be destroyed immediately after you have received and read it. Any e-mail, Push Notification or SMS requesting your Security Codes should be reported to Timo immediately;
- Ensuring that your device or web browser you are using will not allow recording of your Security Codes or activities, and that the necessary anti-spyware and firewalls are installed;
- If any Security Code is exposed or suspected of being exposed to any person, you shall immediately change that Security Code, as the case may be to protect your own interest. Timo shall not be held responsible or liable for any loss or damages suffered in such circumstances;
- Logging out of the web App and/or closing the mobile App when you finish using Timo Services;
- Being careful when using public computers, public wireless network to access Timo Services.
You shall not interfere with Timo Services or use Timo Services in an unauthorised manner; you agree that you will not:
- Use any robot, spider, scraper, deep link or other similar automated data gathering or extraction tools, program, algorithm or methodology to access, acquire, copy or monitor Timo Services or any portion of Timo Services, without Timo’s expressed written consent, which may be withheld at Timo’s sole discretion
- Use or attempt to use any engine, software, tool, agent, or other device or mechanism (including without limitation browsers, spiders, robots, avatars or intelligent agents) to navigate or search Timo Services, other than the search engines and search agents available through Timo Services and other than generally available third-party web browsers
- Post or transmit any file which contains viruses, worms, Trojan horses or any other contaminating or destructive features, or that otherwise interfere with the proper working of Timo Services
- Attempt to decipher, decompile, disassemble, or reverse-engineer any of the software comprising or in any way making up a part of Timo Services.

Other responsibilities under the National Laws and Regulations.

IV. Timo’s Rights

All transactions carried out through your Security Codes, wet signature or electronic signature shall be deemed as instructions and authorisations given by you to Timo. Such requests shall be irreversible and irrevocable once delivered. Timo is hereby authorised to rely upon and act in accordance with the instructions given by or on behalf of you without inquiry on its part as to the identity of the person giving or purporting to give such instructions or as to the authenticity of such instructions and that Timo may in no way be responsible for any misuse or unauthorised use of messages or instructions given to Timo. All costs and expenses incurred in respect to amendments, reversals, cancellations and/or refunds shall be solely borne by you.
Timo may decide and apply account and transaction limits.
Timo has discretion to reject your request if you failed to provide correct identification information.
Timo shall be entitled to impose service fees, commissions and other charges for the Timo Products & Services you utilise. Timo reserves the right to vary such service fees and charges from time to time by way of updating the Timo Member Fee Schedule posted on the Timo website. By continuing to use Timo Services after the date of such updates, you thereby give your consent to such changes. You hereby authorise Timo to debit your Account for such fees, commissions, charges and taxes.
Timo may request you to provide personal information, which includes ID/Passport, signature and other information required for Timo procedures, National Laws and Regulations and VPBank regulations.
Timo may collect personal information you provide when you apply to Timo Services, when you use the App, or when you communicate with us.
As you use Timo Services to perform financial transactions, Timo may collect information in connection with each transaction, including transaction time, transaction value, location, and merchant details. In the future, Timo may also collect photos, memos or other information that you attach to your transactions.
When you access and use Timo Services, Timo may automatically collect device, log, location, and tracking information about you.
Timo may use your information, including personal information, for the following purposes:
- To verify your identity when using Timo and prevent fraud;
- To provide, maintain and improve Timo Services;
- To provide and deliver the products and services you request, process transactions and send you related information, including confirmations;
- To send you technical notices, updates, security alerts and support and administrative messages;
- To respond to your comments, questions and requests and provide customer service;
- To communicate with you about products, services, offers, promotions, rewards, and events offered by Timo and others, and provide news and information Timo thinks will be of interest to you;
- To monitor and analyze trends, usage and activities in connection with Timo Services;
- To personalise and improve the products and services and provide advertisements, content or features that match user profiles or interests;
- To process and deliver contest or promotion entries and rewards;
- To link or combine with information Timo gets from others to help understand your needs and provide you with better service.
Timo may collect, disclose, report relevant information relating to current and former members, including personal information, to affiliates and non-affiliated third parties, such as:
- Financial service providers, e.g. those who sell through the Timo channel;
- Other Timo users, e.g. payees to whom you send money;
- Non-affiliated non-financial companies, e.g. email, marketing, security service providers;
- Authorities, e.g. for fraud and anti-money laundering investigations;
- Other authorities as specified under FATCA.
Timo’s authorised employees or agents of Timo have the right (but not responsibility) to monitor and record all or portions of your telephone conversations (if any) with Timo for quality control, customer service, employee training, security, and other lawful purposes. You agree that you consent to monitoring and recording calls between you and Timo. Your consent will be ongoing and need not be confirmed prior to, or during such monitoring or recording, except otherwise required by law.
Timo may send you Push Notification, SMS, or e-mail messages using details you registered with Timo for: OTP, service notifications, promotion information, fees and charges. You agree that you are aware that such content may be viewable by anyone who has access to your email or mobile device. If your email address or your mobile device changes, you are responsible for informing Timo of that change.
Timo may use your feedback, suggestions, or ideas in any way, including in future modifications of Timo Products & Services, other products or services, advertising or marketing materials.
Timo may allow service providers to serve advertisements on our behalf across the Internet. If you click an advertisement, the service providers may also collect information, which may be used by Timo or the service provider to, analyze and track data, determine the popularity of certain content, deliver targeted advertising and better understand your online activity.
Timo Services may enable social sharing features for common social networks to let users share information with your friends or the public, depending on the settings you establish with the network that provides the social sharing feature.
Timo may validate your Security Codes before granting you access to Timo Services.
Other rights under the National Laws and Regulations.

V. Timo’s responsibilities

Timo shall endeavour to ensure that all information pertaining to your Account is presented as accurate as possible. Notwithstanding this, you acknowledge that Timo does not warrant the accuracy of the information. Should you have reason to believe that the information is inaccurate, therefore, Timo shall have the responsibility to provide you with your account information upon request.
Timo shall automatically convert incoming foreign currency transfers into Vietnam Dong using the conversion rate for the day of settlement. You hereby authorise Timo to make such conversion.
Timo takes reasonable measures to help protect all confidential information about you from loss, theft, misuse and unauthorised access, disclosure, alteration and destruction. Additionally, Timo implements policies designed to protect the confidentiality and security of your non-public personal information. Timo limits access to your non-public personal information to employees that have a business reason to know such information, and implements security practices and procedures designed to protect the confidentiality and security of such information and prohibit unlawful disclosure of such information in accordance with its policies. Timo shall only disclose your information upon authorised and lawful requests.
Other than the cases stated in these Terms and Conditions or permitted by National Laws and Regulations, Timo shall not sell, disclose or leak your information without your consent.
Timo protects your information safely in a high security data centre, adhering to stringent security controls, measures and protocols to safeguard the privacy of your information. While Timo shall use its best efforts to ensure that the privacy of all information is kept secure, please note that it is an accepted fact that no data transmission conducted over the Internet and/or through other electronic channels can be guaranteed to be wholly secure. As such, please ensure that your information is not accessible or disclosed to anyone. Further thereto, Timo shall neither be held responsible nor liable for any damages or losses which you may suffer, whether directly or indirectly, as a result of the said information being stolen, tampered with, copied, abused, misused or otherwise violated.
Timo shall respond promptly to your complaints and inquiries related to Timo Services, and endeavour to resolve promptly.
Other responsibilities under National Laws and Regulations.

VI. Termination

You may terminate the Contract with Timo and request to close all your accounts by calling Timo Care or visiting Timo Hangout (details of which are to be found on Timo’s website). Upon withdrawing all your funds and closing your account, you hereby agree to provide Timo with the local bank account details where remaining interest should be deposited.
Timo may suspend/terminate your access to Timo Products and Services or any part of Timo Products and Services in, but not limited to, the below reasons:
You violate any terms in the Contract; or these Terms and Conditions; and/or any National Laws and Regulations;
Any restriction or prohibition on the use of Timo Products and Services by any laws or regulations of any country from where you access Timo Products and Services;
Suspicion of fraudulent use of Timo Products and Services;
Evidences of money laundering activities; or
Other events not under control of Timo, for example, Force Majeure.
In the event of service termination, any transaction instructed before the termination may remain valid and bound to these Terms and Conditions.

VII. Legal Clauses

The contents of Timo Apps, including the logo, text, graphics, software, multi-media content, and UI/UX, is protected under both the Vietnamese laws and foreign laws. Unauthorised use of our content may violate copyright, trademark and other laws. You have no rights to use this content except as permitted by this agreement without prior written consent from us. The trademarks, service marks and logos used in the Timo Apps are registered marks. Nothing should be construed as granting, by implication, or otherwise, any license or right to use these marks without our prior written permission specific for each such use.
You shall be responsible and liable for any unauthorised transaction that is processed using your Security Codes.
You commit not to make any claim, complaint against, or hold Timo responsible in any way for its act of collecting, using, disclosing your information in accordance with this Terms and Conditions.
You shall be responsible and liable for any loss or damage caused by disclosure, thief, or compromise of your Security Codes under any circumstances, unless caused by Timo.
You shall be responsible to inform Timo of any breach or violation of National Laws and Regulations in the use of Timo Services. Timo will not be held liable for any loss, damage or expense suffered by you or anyone else for instructions given by you to Timo that do not comply with National Laws and Regulations.
Timo shall not be responsible or liable, without any limit, for any of your losses or damages suffered by any transactions that breach or fail to comply with any of these Terms and Conditions or any relevant procedures set by Timo; or for your inability to perform any of the transactions due to limits set by Timo from time to time; or reasons beyond Timo’s control including but not limited to the Force Majeure.
These Terms and Conditions shall be governed by and construed in accordance with the laws of Vietnam and Foreign Account Tax Compliance Act (FATCA), guidelines from authorities, cross-governmental treaties or relevant cross-governmental cooperative agreement.
These Terms and Conditions shall be made in English and Vietnamese. If there is any discrepancy between English version and Vietnamese version, Vietnamese version shall prevail.
Timo shall be entitled to change, amend and/or supplement these Terms and Conditions by way of updating the Terms and Conditions posted on the Timo website. By continuing to use Timo Services after the date of such updates, you thereby give your consent to such changes.
If any provision which is determined to be illegal, invalid, prohibited or unenforceable in any respect under any law, such provision shall be ineffective to the extent of such illegality, invalidity, prohibition or unenforceability without invalidating in any manner whatsoever the remaining provisions in these Terms and Conditions.
If parties fail to resolve disputes through negotiation and conciliation, the parties may submit the dispute to the competent court in Vietnam.

VIII. Definitions

The following terms and expressions shall have the meanings assigned to them unless the context otherwise requires:

“Timo Services” are the products and services provided to you through Timo, including but not limiting to account service, payment, financial management… using an internet-enabled device, and other non-digital services which are offered from time to time.
“Account” means any banking account which you have or may have linked to Timo at any time and from time to time.
“Member” or “you” means the person who is registered with Timo.
“Registration” means the enrolment to Timo Services which enables you to access your bank accounts through Internet or mobile with the Security Codes defined and verified by you during the registration process.
“Contract” means your Member Application Form (Contract of Opening and Using Account/Debit Card/Digital Banking), the Timo Membership Agreement, the Timo Terms and Conditions for Current Account/Debit Card/Digital Banking, the Terms and Conditions for additional product/service that you may apply for from time to time and the Timo Member Fee Schedule.
“Security Codes” means the security credentials used to identify you when you access and utilise Timo comprising of the Username, Password, One Time Password, Quick Code and includes any other security codes Timo may issue from time to time.
“Timo Spend Account” means Timo current account, opened on VPBank’s system via the initialization request through Timo App, and issued together and linked with a Timo debit card.
“Timo Goal Save” means Timo non-term savings account, opened on VPBank’s system via the initialization request through Timo App, and based on the basis that Member has successfully created a Timo Spend Account.
“Timo Term Deposit” means Timo savings account with term, opened on VPBank’s system via the initialization request through Timo App.
“Username” means a name selected or created by you comprising of alphanumeric characters during the registration of Timo. It is required by Timo to validate your Security Codes before granting you access to Timo Services.
“Password” means a list of alphanumeric characters created by you during registration for Timo Services. It is required by Timo to validate your Security Codes before granting you access to Timo Services.
“OTP” means One Time Password, which is a security feature implemented to provide a second layer of protection for online and mobile banking transactions in addition to the Username and Password. It is a unique 6-digit code that needs to be entered for specific online transactions including but not limited to connection creation between accounts, payment registration to a third party, change of the transaction limit in a day, change of the account information related to personal data of you.
“Quick Code” is 4-digit code set by you that needs to be entered for quick access to the Timo mobile application or for specific online transactions.
“Website” is the official website of Timo Services that can be found at getplus.vn.
“App” is the web or mobile application which provides access to Timo Services for Timo Members.
“Redeem” means the closure of Member’s term deposit and transfer of available balance on this account to Member’s Spend account.
“Redeem date” means the last day of term deposit tenor. If it falls on a non-existent day, the redeem date is determined as the last day of the month the deposit matures.
“Force Majeure” means an event which occurs objectively and unpredictably and cannot be overcome though all necessary measures have been applied and all the permitted capabilities have been used, including but not limited to fire, earthquake, landslide, flood, epidemic, natural catastrophe accident, riots, civil disturbance, industrial disputes, act of public enemy, embargo, war, act of God or any failure or disruption to telecommunications, electricity, water, fuel supply.
“FATCA” is the United States Foreign Account Tax Compliance Act.
“National Laws and Regulations” are the laws and regulations of Vietnam.

A reference to a singular includes a plural and a plural includes a singular. Where a word or expression is given a particular meaning other parts of speech and grammatical forms of that word or expression have corresponding meanings.

GENERAL CONDITIONS OF TERM DEPOSIT BY ELECTRONIC MEANS VIA TIMO APPLICATION (Applied from July 05th, 2019)

The General conditions are applicable to individual customers engaging in term deposits by electronic means via the Timo Application. These conditions are an inseparable and integral, appendix attached to the Term Deposit Agreement signed between the Customer and VPBank.

By signing the Term Deposit Agreement:

(i) The Customer confirms that terms stated in the General Conditions are well read and understood.

(ii) VPBank and Customers hereby accept and commit to complying with the terms and conditions hereof.

Article 1. Interpretation of terms

Customer/Timo Customer: Any individual customer belonging to Timo Channel whose deposit at VPBank with information stated in the Term Deposit Agreement.
VPBank: Vietnam Prosperity Joint-Stock Commercial Bank with detailed information in the Term Deposit Agreement. VPBank shall be understood to include all Branches/Transaction Offices of Vietnam Prosperity Joint Stock Commercial Bank.
Timo Channel: VPBank’s Digital Banking channel that allows Timo customers to conduct banking transactions after identifying, opening Spend account and registering e-banking services in accordance with the regulations.
Term Deposit Agreement: The Term Deposit Agreement that is established between VPBank and the Customer depositing via Timo Application, which covers agreements between VPBank and the Customer relating to the sending and receiving of Customer’s Deposit via Timo application.
General conditions of term deposit by electronic means via Timo Application (hereinafter referred to as “General conditions”): Stable terms that are published by VPBank from time to time for all individual customers who engage in term deposits by electronic means via Timo Application. The general conditions are provided by VPBank to the Customer for reading, researching and confirming his or her consent when making any deposit via Timo Application. The general conditions are at the same time publicly announced by Timo Channel in accordance with the provisions of the law.
Timo term deposit (hereinafter referred to as “Timo term deposit”/“Deposit”/“Timo deposit”): The amount of money that is deposited by the Customer at VPBank via Timo Application as recorded in the Term Deposit Agreement.
Electronic Means: Means that operate based on technology in electricity, electronics, digital, magnetic, wireless transmission, optics, electromagnetic or similar technology. At VPBank, the digital include but are not limited to: Timo channel, VPBank Online; VPBankTimo Plus; VPBank Dream; ATM; CDM.
Due date: The closing date of the Deposit duration as specified in the Term Deposit Agreement. In case the Due date of the Deposit coincides with the weekend or public holidays according to VPBank's regulations, the Deposit shall be due on that day.
Customer verification document: Documents that can identify the characteristics and identity of the Customer. These documents are determined according to VPBank’s regulations from time to time.
Spend Account/Timo Spend Account: The account that is used by the Customer to send and receive the term deposits. Details of the Customer’s Payment account are specified in the Term Deposit Agreement.
Timo Application/Application: Timo software program that allows users to perform financial transactions provided by VPBank on smartphones or Internet browsers.
Digital banking service agreement: The Agreement between VPBank and the Customer on VPBank’s provision and use of e-banking services. The Digital banking service agreement made includes paper, digital banking service registration data of the Customer and Terms and Conditions/General transaction terms of digital banking service published on http website: //www.vpbank.com.vn and https://www.getplus.vn from time to time.

Article 2. Agreement of sending and receiving term deposit

The Customer shall agree to open term deposit and VPBank shall agree to receive the Customer’s Deposit with information on Deposit amount, Deposit currency, Deposit term, Deposit date, Due date, Interest rate, Interest payment method, Deposit settlement method as agreed by the Parties in the Term Deposit Agreement.
It is agreed by the Customer that, in the event that any contents of the General Conditions are different from those of the Term Deposit Agreement, the latter shall prevail.

Article 3. Interest, Interest Calculation Method

Interest:

The interest calculation period shall be determined from the day following the day when VPBank receives the deposit until the end of the day when VPBank pays all the Deposit to the Customer; and
The actual balance for interest calculation shall be the beginning balance in the interest calculation day.

The interest rate applicable to the Deposit shall be mutually agreed upon by the Parties in the Term Deposit Agreement and fixed during the Deposit duration.
The interest rate specified in Clause 1 of this Article shall be applied for the purpose of interest calculation according to the interest calculation method specified in Clause 2 hereof. These interest rates shall be EQUAL to the corresponding annual interest rate (converted interest rate) according to the interest rate calculation method used:

For clarification, this converted interest rate shall not be applied for interest calculation according to the interest calculation method specified in Clause 2 hereof.

Interest calculation method:

Interest period and time to determine the balance for interest calculation: The interest period shall be determined from the date VPBank receives the deposit until the end of the day preceding the day when the deposit is fully paid (including the first day, but excluding the last day of the interest period) and the time to determine the balance for interest calculation shall be the end of each day during the interest period.
The interest shall be calculated on a yearly basis of 365 days. The amount of interest that VPBank has to pay each period shall be calculated by the formula (=) ∑ (Actual balance multiplied by (x) Actual days of the balance multiplied by (x) Interest rate) divided by (/) 365, in which: (i) Actual balance: The balance at the end of the interest calculation date of the deposit balance payable by VPBank to the Customer that is used to calculate the interest as agreed in this General Conditions and the provisions of the law.(ii) Actual days of the balance: The number of days that the actual balance at the end of the day remains unchanged. (iii) Interest rate: The interest rate that is applied to the Deposit according to the Term Deposit Agreement or the interest rate for early withdrawal as agreed between VPBank and the Customer in case the Customer is paid ahead of time. The interest rate shall be calculated at the rate of %/year for a year of 365 days.
For deposits of which the term calculated from the time when VPBank receives the deposit until the Customer withdraws the money is less than one day: The interest period and the actual days of the balance shall be determined as 01 (one) day, the actual balance used for interest calculation shall be the balance at the end of the day during the interest period. In case the Customer deposits and withdraws money on the same working day, the Customer shall not be entitled to interest.

Principle of rounding interest

The decimal part shall not be taken and the interest shall be rounded up if the first number of the decimal part is greater than or equal to 5, rounded down if the first number of the decimal part is less than 5.

Article 4. Payment of Principal, Interest on Term Deposit and Extension of Deposit Duration

The Customers shall be allowed to request VPBank to pay ahead of time with respect to the entire Deposit, but not a part of the Deposit, in this case, the interest rate applicable to the Deposit shall be the lowest interest rate for non-term deposit of VPBank in the currency deposited by the Customer at the time the Customer is paid before maturity for the actual entire deposit duration of each Deposit from the Deposit date to the date VPBank pays the deposit ahead of time.
On the Due date (including the case when the Due date coincides with the weekend or holidays according to VPBank's regulations), VPBank shall automatically pay the Timo Deposit, transfer the entire principal and interest of the Timo Deposit to the Timo Spend Account. The Customer shall not be allowed to extend the deposit duration of the Deposit on the Due Date.

Article 5. Handling In Case Of Blocked, Closed, Temporary Locked of Spend Account and Cases of Changed of Customer’s Spend Account Status

1- At the time of VPBank’s payment of principal and interest of the Term Deposit, if the Customer’s Spend Account is closed, blocked, temporarily locked or changed in term of status for any reason, the Parties shall handle as follows:

In case the Spend Account is closed or temporarily locked or blocked or changed in term of status without being credited with the principal and interest of the Deposit amount into the Spend Account in accordance with VPBank’s regulations and/or provisions of the law: The entire principal and interest of the Deposit amount under the Term Deposit Agreement shall be managed by VPBank until the Customer and VPBank have any written agreement on the change of payment account information to receive the payment of principal and interest of the Deposit amount. .
In case the Spend Account is closed or temporarily locked or blocked or changed in term of status with permission of credit entry of the principal and interest of the Deposit amount into the Spend Account in accordance with VPBank’s regulations and/or provisions of the law: The entire principal and interest of the Deposit amount under the Term Deposit Agreement shall still be paid by VPBank to the Customer's Spend Account.

2- During the time that VPBank manages the principal and interest of the Deposit amount as stipulated in Clause 1 of this Article, all the managed amounts shall not be subject to interest calculation and payment.

Article 6. Inquiry And Notification In Case of Changes of Term Deposit

1- The Term deposits can be searched by the Customer by the following measures:

The information search can be done by the Customer via Timo Application; Timo care call center (1800 6788) or other search channels implemented by VPBank and/or Timo Channel from time to time.
Upon request to look up information of the Term Deposit according to the methods mentioned above, the Customer may be requested by Timo Channel to provide information related to the Customer and/or Deposit, sign related papers and documents for the purpose of verifying the Customer, deposit information before conducting the search and provision of information to the Customer. It shall be agreed by the Customer to provide information, documents, sign documents and perform related procedures according to regulations of VPBank at the time of requesting for lookup.

2- Notification method when there is any change of the Deposit: Debit and credit transactions arising from the deposit placement and payment transactions shall be notified by Timo Channel to the Customer via email or other notification methods implemented by VPBank and/or Timo Channel from time to time

Article 7. Handling Cases of Wrinkled up, Torn, Lost The Term Deposit Agreement

The Parties hereby agree that cases of wrinkled up, torn, lost the Term Deposit Agreement shall not be mentioned as it is established by the Parties in the form of electronic documents.

Article 8. Rights and Obligations of the Customer

1- Rights of the Customer

To be entitled to insurance on deposit in accordance with the law;
To be paid in full and on time with respect to the interests and principal as prescribed in the Term Deposit Agreement and the General Conditions;
To transfer the ownership of the Deposit in case of obtaining the consent of VPBank. The ownership of Deposit shall be transferred in accordance with VPBank's regulations at the time of transfer;
To pledge the Deposit for the purpose of borrowing at VPBank or other credit institutions (if approved by VPBank, credit institution); to use the Deposit as collateral for obligations of the Customer and/or third party at VPBank in accordance with VPBank's regulations from time to time;
To have other rights as prescribed by the law.

2- Obligations of the Customer

To be responsible for the legality and other related issues to the origin of Deposit in VPBank;
To strictly implement committed agreements with VPBank and avide by VPBank’s regulations from time to time;
To provide VPBank with all information, documents and information according to the reasonable request of VPBank from time to time;
To give advance notice of prior withdrawal request according to the Term Deposit Agreement and General Conditions and VPBank’s regulations;
To pay fees (including the transfer fee), costs incurred (if any) from the implementation of the Term Deposit Agreement, General Conditions in accordance with VPBank’s regulations and mutual agreements of the Parties in the Term Deposit Agreement and General Conditions;
To ensure that the deposit account and deposit receiving account are of the Customer’s own with accurate information as stated in the Term Deposit Agreement;
Not to make any change of Deposit information, Due date earlier than the Due Date specified in the Deposit Agreement, except for cases that VPBank notifies and requests the Customer to perform early payment or not to continue to extend the Deposit duration as stipulated in the Term Deposit Agreement; General Conditions;
To be responsible for resolving all disputes, complaints and claims related to the Deposit at VPBank;
When there is any change in the Customer’s information, including but not limited to Customer-related information such as: Customer Verification Document number, permanent address, telephone number, etc., the Customer must go to the Timo Channel's transaction points to register for amendments/additions to information as soon as there is any change;
To fulfill other obligations as stipulated in the Term Deposit Agreement, General Conditions, Digital banking service agreement, VPBank’s regulations and provisions of the law of Vietnam.

Article 9. Rights and Obligations of the Customer

Rights of VPBank:

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,
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;
To request the Customer to provide relevant information in each period for the purpose of Customer management;
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;
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;
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;
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;
To request the Customer to take full responsibilities for resolving all disputes, complaints and claims related to the Customer’s Deposit;
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;
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;
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);
To have the right to temporarily seize and block the Customer’s Deposits upon written requests of the competent state agencies;
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:

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;
To keep the Customer’s deposit balance confidential in accordance with the provisions of laws and VPBank’s regulations;
To ensure safety for deposits of the Customer;
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.

Article 10. Other Terms

Validity period of Term Deposit: If the Customer opens theTerm Deposit during VPBank's actual working time (from 8:00 - 17:00 Monday to Friday and from 8:00 - 12:00 Saturday, excluding days off, holidays according to VPBank's regulations and other force majeure cases) then the Deposit date shall be recorded on the date of transaction execution. If the Customer opens theTerm Deposit outside the actual working time of VPBank or on holidays in accordance with VPBank’s regulations, then the Deposit date shall be recorded on the next working day of VPBank. In any case, VPBank's system shall automatically deduct the Deposit from the Timo Spend Account into the deposit account at the time of arising the transaction. VPBank may change the Trading time from time to time and notify the Customer via notification methods according to VPBank’s regulations from time to time.
Location of Deposit Placement and Payment

The term deposit shall be placed and received by the Customer via Timo Application.

Irrevocable Transaction

The Customer shall acknowledge, irrevocably and take responsibilities for all term deposit transactions made using the username and password or card number, PIN of the Customer via Digital banking of VPBank. The Customer must not cancel, deny, refuse, change or abolish transactions for any reason.

Article 11. Information Exchange

The Customer shall register to receive information, products, services, programs, incentives, etc., from VPBank and/or VPBank’s partners in accordance with the methods specified in Clause 2 Article 11 hereof.
It is mutually agreed that VPBank shall have the right to amend and supplement contents hereof on the basis of ensuring amendments and supplements in accordance with relevant provisions of law. The Customer shall be notified by the Timo Channel in terms of amendments related to the contents hereof, amendments, supplements, adjustments in VPBank’s policies for Term Deposit by Electronic means as well as products, services, programs, incentives, etc., of VPBank and/or VPBank’s partners with unlimited quantity and time by one of contact methods implemented by Timo Channel from time to time, including any written notice to the Customer’s address; calling, sending SMS to the Customer’s phone number; sending any email to the Customer; posting at Timo Sales Points or on the official website of Timo Channel.. For the contents notified by VPBank to the Customer in writing according to the General Conditions, relevant documents or legal provisions, the Parties agree that the notice may be made and sent by a paper version or by data messages via SMS, email, etc., to the Customer in accordance with this Article.
It is mutually agreed that the Customer’s address, telephone number and email address shall be the address, telephone number and email address registered by the Customer and stored on VPBank's system. The Customer shall be deemed to have received the notice from VPBank when any notice is given by the Timo Channel by the above methods to the Customer’s address, phone number and email address or posted at Timo Channel’s transaction points or announced on Timo Channel website. VPBank shall not be obliged to verify whether the Customer has received the notice or not. In case of changing the address, phone number, email address, the Customer must notify Timo Channel in writing; otherwise, Timo Channel shall have the right to send any notice to the old address, phone number and email address and assume that the Customer has received the notice and the contents in the notice shall be valid for binding the Customer.
The Customer shall be deemed to approve all amendments as notified by VPBank if the Customer continues to maintain the Deposit after the time that Timo Channel announces.

Article 12. Compliance with FATCA

It is confirmed by the Customer that: The Customer has been notified by Timo Channel about the Terms and Conditions of FATCA compliance for individual customers on the Timo Channel website (“TERMS AND CONDITIONS OF COMPLIANCE WITH FATCA”). The Customer has read, understood, agreed and committed to fully complying with the contents in the TERMS AND CONDITIONS OF COMPLIANCE WITH FATCA. At the same time, it is agreed by the Customer that VPBank shall have the right to change the contents of the TERMS AND CONDITIONS OF COMPLIANCE WITH FATCA from time to time without prior notice or receiving the Customer’s consent.

GENERAL TERMS AND CONDITIONS FOR ISSUANCE AND USE OF TIMO LIFE CREDIT CARD

These General Terms and Conditions are applied for all Personal Members of Timo approved to issue the VPBank credit card and signed the CREDIT CARD APPLICATION CUM CONTRACT FORM (For Personal Members of Timo).

These General Terms and Conditions are integral appendix of the CREDIT CARD APPLICATION CUM CONTRACT FORM.

By signing the CREDIT CARD APPLICATION CUM CONTRACT FORM, VPBank and client are hereby committed to the following Terms and Conditions:

Article 1. Definitions

1.“VPBank/The Bank/Bank”: refers to Vietnam Prosperity Joint Stock Commercial Bank. VPBank covers its Branches and Transaction Offices.

2. “Service”: refers to the Timo Life credit card, an international unsecured credit card (hereinafter referred to as “Credit card”/ “Timo Life credit card”). The credit card has only the primary card without supplementary card.

3.“Timo channel/Timo”: refers to the digital banking channel of VPBank which the Timo member are enabled to perform banking transactions after they are identified, current account is opened and digital banking is registered as prescribed.

4.“Client/Timo Member/Member/Cardholder”: refers to a Personal Member of Timo whose information are specified at the CREDIT CARD APPLICATION CUM CONTRACT FORM

5.“Timo Application”/ “Application”: refers to Timo software programs that allow users to perform banking transactions provided by VPBank on the web browser or smart mobile devices.

6. “Application/ CREDIT CARD APPLICATION CUM CONTRACT FORM”: refers to the CREDIT CARD APPLICATION CUM CONTRACT FORM (For Personal Member of Timo) that the Client has signed and/or confirmed to open and use the Timo Life credit card issued by VPBank.

7.“Merchant”: refers to the institution and individual accepting payment for goods and services by Card under the Card Payment Contract signed with the Acquirer.

8.“ATM (Automated Teller Machine)”: refers to equipment that the Cardholder may use to transfer, deposit, withdraw, make payment for goods and service invoices, change PIN inquiry information on Card transaction or other services.

9. “POS (Card acceptance device at point of sale)”: refers to a card reader or terminal installed and used at the Merchants which the Cardholder may use the card to make payment for goods and services. POS can be installed at the branch and the transaction office of Acquirer to provide the cash for the Cardholder as agreed between Acquirer and Card Issuer.

10. “mPOS”: refers to a card reader or terminal installed and used at the Merchants which the Cardholder can use the card to make payment for goods and services.

11. “PIN”: refers to a security code initially issued by VPBank and then changed by Cardholder to use in the card transactions in accordance with the determined process.

12. “Minimum payment”: refers to the minimum amount to be paid by the Cardholder to VPBank after each Statement period. This minimum amount is complied with VPBank’s regulations from time to time.

13.“Due date”: refers to the final day of payment period which the outstanding principal, related interest and fees incurred during the statement period must be paid to VPBank, provided that the payment shall be, at least, equal to the Minimum Payment described in the Bank Statement. In the event that the due date is fallen on the non-business day/public holiday as prescribed by the laws and/or VPBank, the due date shall be the next Business Day.

14.“Business Day”: refers to VPBank’s actual working time from 8:00 to 17:00 from Mondays to Fridays and 8:00 - 12:00 on Saturdays, except for Sundays, public holidays as stipulated by VPBank and any days when VPBank is allowed or required to close as prescribed by the State competent authority or due to Force Majeure events.

15.“Credit Limit”: refers to maximum outstanding debt that the Cardholder may use during a Statement period.

16.“Credit term”: refers to the period which the Credit Limit is effective.

17.“Statement period”: refers to the interval between two consecutive statement dates.

18.“Statement date”: refers to the date specified by VPBank from time to time.

19.“Statement”: refers to a detailed list of transactions initiated by the Cardholder in the statement period. The statement, including expenditures, payments to goods, services, cash advance, interest and fee, is periodically delivered to the Cardholder after the statement date by VPBank.

20.“Installment payment”: refers to total amount of installment for each spending transaction (onsite or online payment for goods and services), cash withdrawal successfully registered by the Cardholder in the Timo Life credit card installment program.

21.“CVV/CVC”: refers to security code printed on the Card.

22.“MOTO”: refers to the method of card payment provided by the International Card Institution whereby payment may be made by calling or emailing to the Merchant.

23.“Contract”: refers to the Contract for credit card Issuance and Use, including the Application, Acceptance of VPBank and these General Terms and Conditions.

24.“FATCA (Foreign Account Tax Compliance Act)”: refers to the Act ratified on 18/3/2010 by U.S Government that generally requires that foreign financial institutions report on the foreign assets held by their U.S. account holders or be subject to withholding tax with respect to any payment of US source income and proceeds from the sale of equity or debt instruments of US issuers. On 1st April 2016, the Joint-Governmental Agreement between the US Government of and Vietnamese Government on compliance with FATCA (IGA Agreement) was signed and took into effect since 7th July 2016.

25.“These General Terms & Conditions”: refers to the General Terms and Conditions for issuance and use of Timo Life credit card. The General Terms and Conditions (T&C) include stable terms released and generally applied to personal clients to issue and use Timo Life credit card at VPBank and publicly posted at the head office and/or on the website of Timo. If the Application is signed, the Client shall be deemed to accept these General T&C.

26.“Timo Care”: refers to the call center of Timo (by telephone number 18006788 or other number reported by Timo from time to time) to support the customer care and services as per request of the Cardholder.

Other capitalized terms uncovered herein shall be construed and interpreted in accordance with provisions in the Application, Services involved by the Client on basis of compliance with the relevant legal regulations.

Article 2. Rights and obligations of the Cardholder

1. Rights of the Cardholder

a) To use the Card to withdraw cash, make online payment for goods and services at the Merchants, on the interenet and/or to use other services offered by VPBank (if any) within the Card’s Credit Limit and Credit Term granted for consumable purposes of the Cardholder. The scope of Card is detailed at Article 5 herein. The transactions may be initiated within the Credit Limit till the final day of the granted Credit Term.

b) To submit the reconciliation request and make complaints about Card-based transactions as stipulated by these T&C and the laws.

c) To take back the full unused amount available at the Card set forth at Article 11 herein.

d) To request VPBank to reissue the Card/PIN, suspend/terminate use of the Card, extend the Card, change the Credit Limit, change daily spending limit, deactivate/activate the online payment feature as prescribed by VPBank.

e) To request VPBank close/unlock/temporarily lock to use the Card in accordance with VPBank’s regulations.

f) To request VPBank to automatically debit the Cardholder’s current account opened at VPBank as registered by the Cardholder to pay for the outstanding balance on the Statement and fees as prescribed by VPBank.

g) To receive the monthly Statement from VPBank.

h) To participate in incentive programs offered to the Cardholder by VPBank and/or its partners if the conditions prescribed by VPBank and/or its partners from time to time are satisfied.

i) To request VPBank to provide information on card transaction history, available limit of the Card and other card use-related information in accordance with Article 11 herein.

j) To use the Card within the limit, including Credit Limit, payment limit, cash withdrawal limit and other limits during the Card is used in accordance with Article 5 herein.

k) Other rights in accordance with the regulations of these General Terms and conditions, VPBank and the laws.

2. Obligations of the Cardholder

a) To fully and accurately provide, update and inform VPBank about changes in registration information upon Card application or during the Card is used. In the event that no notice is released by the Cardholder, if any risks or losses are arisen, the Cardholder shall take all responsibilities for errors, benefits or frauds during service use at his fault or caused by absence of true, complete, correct and timely information; take all risks, including arisen financial losses and costs due to the provided incorrect or inconsistent information.

b) To secure the Card and keep confidential the Card related information, especially PIN during the Card is used in accordance with these General Terms and Conditions and the legal regulations. The Card is not transferrable.

c) To register to receive the Card/PIN by post/express delivery. In this case, the Cardholder agrees and certifies that VPBank is deemed to successfully complete delivery of the Card/PIN to the Cardholder when the Card/PIN are sent to the address registered with VPBank. The Cardholder is also committed to all incurred risks because the Card/PIN is lost or taken advantage and/or risks caused by the Cardholder fails to directly sign or a forged signature is made to receive the Card/PIN in this manner.

d) To accept and use the Card within the Credit Limit and Credit term granted by VPBank. In the event that the Cardholder uses excessive limit or VPBank can prove the transaction beyond the Credit Limit arisen from the concerned Card, then the Cardholder shall pay for arisen transactions in addition to the payable costs and otherwise (if any) as prescribed by VPBank when the Card’s issued limit is exceeded.

e) To make payment to VPBank for all incurred card transactions (including transactions with or without signatures, PIN or with signature different from the one of the Cardholder at the Card’s reverse side) in accordance with the regulations on the Scope of Use and Payment Obligations of the Cardholder specified in Article 5 herein.

f) Not to use the Card for any unlawful transactions for purposes of money laundering, terrorism financing, fraud, forgery and other actions. Be responsible to VPBank and the law for acts of money laundering, terrorism financing, fraud, forgery committed by the Cardholder and card transaction involving money laundering, terrorism financing, fraud, forgery and other actions.

g) To be fully aware of and committed to risks where the Cardholder’s payment transactions are confiscated, sealed or suspended by any foreign organization or country (due to involving in factors of embargo, crime, terrorism, terrorism financing, money laundering, subjects applicable to court orders, overseas offices or other reasons).

h) To make full and timely payment to VPBank for outstanding balance on the Statement released and delivered to the Cardholder by VPBank. Where the Cardholder fails to receive the Statement delivered by VPBank, full and timely payment of payable accounts must be still made to VPBank during the period.

i) On a monthly basis, within the period from the statement date to the due date, the current account designated by the Cardholder shall be automatically debited to pay for the balance on the Statement as per pro-rata registered with VPBank. The Cardholder shall ensure this account always has the required balance for VPBank to debit during the abovementioned period. Otherwise, the Cardholder shall contact VPBank to pay for the rest and bear costs and interest incurred if any.

j) To timely notify VPBank when errors or mistakes are found on his/her card account or the card account is found to be taken advantage of.

k) To resolve Card-related disputes with the Merchant/paying bank/Card Institution without delaying the payment of statement on due date.

l) To immediately and unconditionally refund to VPBank excessive amounts withdrawn by the Cardholder, withdrawal/payment beyond the Credit Limit, transactions incorrectly credited to the Cardholder’s account and other mistaken transactions which the Cardholder fails to prove his/her legal ownership. To allow VPBank to automatically debit these amounts without notice to the Cardholder (current account, Card Account, savings deposit account, term deposit account and other accounts) and deductions for other deposited assets at VPBank.

m) To set signature specimen with a ball pen on the signature strip on the Card’s reverse side upon receipt of the Card. Upon performing transactions at the Merchant, the Cardholder shall sign payment receipts/vouchers with the same signatures as this signature specimen, except for transactions where signatures of the Cardholder are not required

n) Not to use the Card declared to be lost or misplaced and return VPBank the concerned Card upon finding.

o) To make full and timely payment to VPBank for Card used-related principal, interest and fees, etc.

p) The Cardholder assumes liability for fund use by issuing the Card with right purpose as prescribed herein and takes responsibility the laws and VPBank for its fund use.

q) Where the Cardholder buys insurance products sold by VPBank as an insurance agent, VPBank is allowed to debit the Cardholder’s account to pay for premium payable to the insurer. This amount shall be treated as outstanding balance of the respective statement period.

r) By signing the Application, the Cardholder agrees that the Cardholder’s request on registering any Services or Programs launched by VPBank in the manner of the Cardholder’s registration and participation via calling Timo Care, Timo Application, or any other electronic method implemented by VPBank shall be complied with VPBank’s regulations on Phone Banking, e-banking services via phone or internet, other e-banking services as specified in the General Terms and Conditions/General Terms and Conditions on e-banking services and/or relevant regulations applied for services and programs that are involved by the Cardholder.

s) To activate the Card by the method deployed by VPBank as of card activation date. To comply with the terms and conditions specified herein and regulations on card issuance and use approved by VPBank, card institutions/associations and the laws. The Cardholder agrees that when the Timo Life credit card is requested to be activated, the Cardholder simultaneously activates the e-commerce payment function. The Cardholder thoroughly understands and accepts the Card use-related risks in e-commerce transactions and commits not to make any complains or claims against VPBank in case of incurred risks.

t) To provide VPBank with all necessary information and documents at proper request of VPBank in order to comply with regulations on anti-money laundering, anti-terrorism financing, sanctions and embargoes.

u) The Client commits all funds used to discharge Client’s contractual financial obligations are formed from legal sources and free from any violations to any applicable laws (including the provisions on money laundering and terrorism financing).

v) Other obligations in accordance with the regulations of the T&C, VPBank, the laws and domestic/international Card Institutions that VPBank is a member from time to time

Article 3. Rights and obligations of the Bank

1. Rights of the Bank

a) To be exempted from liabilities in case data processing or communication system failure or for any reasons beyond the proper control of VPBank makes the Client’s Card or PIN unable to transact, causes losses, advantages or if VPBank Timo fails to send or sends but not but the Client fails to receive messages or notices related to Card’s account balance changes or other Card-related details due to system error, transmission error, technical error, problems of service provider/VPBank or for any other objective reasons; in other cases of Client’s faults.

b) To be exempted from liabilities for: (i) any losses, theft, proper or improper use of the Card or disclosure of the Cardholder’s PIN and Card details (ii) Any acts of fraud or forgery incurred by VPBank due to the Client’s violations or faults (iii) Any harm to the Cardholder’s prestige, image and reputation related to VPBank recovery or request that the Cardholder should stop/suspend.

c) To bear no responsibility for delivery and quality of goods and services paid by the Card. Not to involve in the dispute settlement between the Cardholder and the Merchant and to be entitled to debit the Card Account the value of goods and services whether or not goods and services have been delivered or carried out.

d) To handle the Cardholder’s reconciliation and complaints under the method, documents, and reconciliation request submission time as prescribed by VPBank and the domestic/international card institution which VPBank is a member from time to time.

e) To be held harmless in case complaints and reconciliation requests submitted by the Cardholder are not successfully handled by the paying bank/domestic/international card institutions under their provisions.

f) To change the limit of Card use in accordance with the VPBank policies from time to time.

g) To request the Cardholder to make full payment for Card-based expenditures, relevant interests and fees in the period not later than the due date.

h) To perform remote debt reminder, including, but not limited to, the form of sending debt recovery notice, SMS direct call, etc. In case the Cardholder fails to make full payment for his payable obligations, debt recovery measures may be taken to request the Cardholder to fulfill the payment obligations under the Contract.

i) If the Cardholder fails to make timely payment to VPBank as prescribed, VPBank is entitled to collect the debt from the Cardholder’s collaterals or other assets, including the deposit balance on any accounts opened at VPBank (term deposit, non-term deposits) and other Cardholder’s deposited assets at VPBank without the Cardholder’s signature/confirmation. If debt is collected from the Cardholder’s current account and/or savings account and/or term deposit account to pay the incurred debts, such deposits will be considered to be pre-maturely withdrawn and interest will be calculated in accordance with VPBank’s pre-mature withdrawal regulations at of deduction date. In that case, VPBank is released from liability for changing the Cardholder’s deposit term. In the event that foreign currency current account, savings account, and term deposit account, the exchange rate shall be transformed as released on conversion date by the Bank.

j) VPBank may collect and verify any Cardholder-related information from any units that VPBank is deemed to be fit (including but not limited to any credit institutions or any other institutions or companies established for the purpose of assessing the credit rating for individuals and/or banks or credit institutions in Vietnam or elsewhere).

k) To provide the authorized parties with information on the Cardholder, the Card Account for reconciliation, claims on the Card transactions in accordance with the laws and/or for other purposes as prescribed herein.

l) To terminate the Cardholder’s use of the Card by cancelling or withdrawing the Card or closing/locking the Card on the system if the Cardholder violates conditions and terms of the Card use under these General Terms and Conditions and/or VPBank’s regulations, uses the forged Card or suspected Card.

m) To use the information of the Cardholder, his/her credits, account balances, transactions, including all information from documents and recorded provided by the Cardholder; contracts and documents made and entered by and between the Cardholder and VPBank to offer to the credit information service providers and/or credit rating entities legally operating in Vietnam, or the competent authorities with information as prescribed by the law or related parties in cooperation with VPBank to develop and provide products and services.

n) To temporarily lock, extract, close (the Cardholder’s current account, Card Account, savings deposit account, term deposit account and other accounts) opened at VPBank, other deposits, other deposited assets at VPBank or prepare the receipt order, requesting the credit institutions to open the account for the Cardholder to extract money to VPBank to make: (i) payment of due and overdue debts, interests, and other financial obligations during the Card use; (ii) payment and compensation of the Cardholder’s due and overdue debts, interests and other financial obligations at VPBank and handle other cases as agreed by the Cardholder and VPBank.

o) To notify the Cardholder about the concerned products, services, promotions, risk warnings during launching the Service, and other notices on Service Use in the manner that Timo channel deems to be appropriate (including but not limited to sending SMS, emails, notices on the website, etc.) with unlimited quantity and time.

p) To actively decide application and non-application of incentives (accumulative points, refunds, accumulative points for miles, etc.) for the Cardholders in accordance with VPBank’s regulations from time to time.

q) To amend and/or adjust any terms and conditions hereof from time to time that VPBank deems appropriate at its sole discretion. The mode of sending and receiving notices on amending and supplementing the General Terms and Conditions between VPBank and the Cardholder shall be complied with Article 17 herein. The Cardholder is considered to accept all contents of the amendment and adjustment according to VPBank’s notice if the Cardholder continues using VPBank Services.

r) Other rights in accordance with the T&C and the laws.

2. Obligations of the Bank

a) To respect the Cardholder’s rights and benefits prescribed herein.

b) To make timely and fully payment orders after legality and validity of the payment orders are successfully checked and controlled.

c) To keep confidential the Cardholder’s Card information as specified herein.

d) To compensate for actual damages arising out of the VPBank’s violations to the regulations on supplying services as prescribed in these T&C and the laws.

e) Other obligations as prescribed by these T&C and the laws.

Article 4. Security measures

VPBank agrees to offer loans to the Client in accordance with its financial capability and personal reputation without loan securities.
The Client agrees that if any event occurs which, at sole discretion of VPBank, is likely to affect or potentially affect the Client’s loan repayment capability or cause the Client dissatisfy with the conditions on issuance and use of unsecured Credit Card as prescribed by VPBank during the validity of Credit Limit, within 15 working days since date of VPBank’s request, the Client shall mortgage, pledge or deposit its assets or the third party’s assets for VPBank. Such mortgaged, pledged and/or deposited assets must have sufficient value (at VPBank’s valuation) to cover the entire payment obligation of principal, interest and other costs incurred by the Client to VPBank. Such assets must be approved by VPBank. All expenses on fulfilling loan security procedures (notarization, security transaction registration, etc.) as prescribed by the laws shall be borne by the Client. If the Client fails to perform or improperly performs the obligation to supplement collaterals and/or arranges other security measures in accordance with this provision within the aforesaid timeframe, VPBank may terminate the Credit Limit, request the Cardholder to make pre-mature loan repayment, temporarily lock or close, invalidate and withdraw the card of the Cardholder as prescribed herein.

Article 5. Scope and Credit Limit of the Card

1. Scope of the Card and payment obligations of the Cardholder:

a) The Card may be used to withdraw cash at CDMs/ATMs/POSs of VPBank and ATMs/POSs in the coalition of NAPAS, and at CDMs/ATMs/POSs with the symbol of an international card institution (for international cards) or withdraw by other methods offered by VPBank from time to time, to pay for goods and services at the Merchants, via Internet, email, telephone, etc., and use other services offered by VPBank and other banks directly or indirectly associated with VPBank through one or more intermediary organizations.

The Cardholder agrees that upon card payment transactions, depending on each card transaction and requirements/provisions of VPBank and/or the International Card Institution and/or by the Merchant in accordance with the regulations of the law and International Card Institution, card transactions may be authenticated using one of following methods, including but not limited to:

- The Card and Cardholder present at the Merchant; and/or

- Signature of the Cardholder on the card transaction invoice; or

- Entering the PIN upon transaction; or

- Card details (Card name/Card number/CVV/CVC codes, etc.) provided via email, telephone, internet, etc.; or

- Calls from Client to VPBank call center; or

- Any other authentication method registered with VPBank by the Cardholder; or

- Any other authentication method specified by VPBank, International Card Institutions and the Merchants.

b) The Cardholder is fully aware and understands that when the card payment transactions are initiated for which the Card and/or Cardholder is not present in person at the Merchant or VPBank’ headquarter (e.g. MOTO transaction, online payment transaction, phone call transactions etc.,) and when the Cardholder fails to keep confidential card details, his Card may be taken advantage for payment transactions which in-person presence of the Card and/or Cardholder is not required at the Merchant. By signing this Application, such risks are fully acknowledged and accepted by the Cardholder.

c) The Cardholder assumes liability for paying VPBank Timo for all transactions incurred and authenticated by any method mentioned in point (a) above. The Cardholder agrees that the Statement delivered by VPBank will be the evidence, confirming transactions, costs, and interest (if any) and debits and credits in the Statement are true and valid. The Cardholder shall make payment for all transactions, costs and interest shown on the Bank Statement in accordance with the deadline in the Bank Statement, except for VPBank’s faults.

d) Upon successful activation of the Card, the Cardholder is permitted to use the Card’s online payment features. In the event that such features are not required, the Cardholder will contact with Timo channel to deactivate such features.

2. Credit Limit of the Card and Credit Limit change:

a) The Card is used within the use limits. The use limits include Card Credit Limit, payment limit, cash withdrawal limit and other limits as prescribed by VPBank.

b) Cardholder’s use of loan is accepted within the Credit Limit to perform permitted card transactions as prescribed herein.

c) By activating the Card, the Cardholder is considered to receive full notice on Credit Limit and Credit Term from VPBank and have accepted the Credit Limit and Credit Term granted by VPBank. Such Credit Limit is also shown in the monthly Statement delivered to the Cardholder as prescribed by VPBank.

d) VPBank has the right to periodically review under VPBank’s regulations or irregularly review and re-evaluate the Credit Limit and the Credit Term issued to the Cardholder under the Contract. VPBank is entitled to adjust and terminate the Credit Limit and/or the Credit Term in accordance with VPBank’s review and evaluation results. In this case, the Cardholder shall be informed by the method that VPBank considers to be reasonable and suitable with these General Terms and Conditions. The Cardholder agrees and undertakes to perform the Contract.

e) In case the Cardholder is issued with multiple Credit Limits with various cards, the Cardholder may (i) request VPBank to change (increase or decrease) Credit Limit between Credit Limits within the total limit of the issued Credit Limit; (ii) request VPBank to allow the Cardholder to use the Credit Limit associated with that Card or any other Credit Limit available at VPBank. The method of request, conditions and procedures to fulfill the requests as described in this Clause are complied with VPBank’s regulations from time to time.

f) Upon the expiry of the Credit Limit, the Credit Limit shall be reassessed as prescribed by VPBank. The Cardholder shall be issued with the new Credit Limit equal to the previous one if conditions are satisfied as prescribed by VPBank. VPBank is entitled to request the Cardholder to provide additional documents to evaluate the Credit Limit where necessary. By signing this Application, the Cardholder agrees to request VPBank to re-valuate and consider to issue a new Credit Limit to the Cardholder.

g) Within the Credit Limit validity, a request on changing Credit Limit, Daily Cash Limit of the Card, etc., may be submitted to VPBank Timo and VPBank’s regulations on changing Credit Limit must be complied. The Cardholder is considered to agree with the changed Credit Limit if the Card use is assumed without any notice, complaint or grievance to VPBank. In case VPBank receives a request on Credit Limit change, Daily limit ... via Timo Care or directly at the VPBank service facilities after the Cardholder is verified as stipulated by VPBank and relevant limits have been changed at the request, the Cardholder agrees to take complete responsibility to VPBank for the proposed new limit and any risks (if any).

h) Depending on the VPBank’s policy from time to time, card use limits may be changed by VPBank. In this case, the Cardholder shall be informed by one of several modes specified herein.

Article 6. Interest rate, method of interest calculation and interest collection

1. Interest rate and method of credit card interest calculation:

a) The interest rate applicable to the credit card’s outstanding balance under the Contract shall be complied with interest rate schedule released by VPBank from time to time, which shall be publicly published on Timo website and Timo Application. Depending on each type of credit card, the interest rate can be adjusted in accordance with the market, monetary policy and interest rate of the State Bank of Vietnam (SBV). The adjusted interest rate is calculated with following formula: Adjusted interest rate is equal to (=) Applicable interest rate as of adjustment date plus (+) specific interest rate (released on VPBank’s official website by VPBank from time to time). The Cardholder is notified as prescribed in case the applicable interest rate is adjusted. The specific interest rate stated on the statement is delivered to the Cardholder.

b) The method of interest calculation for due interest, overdue interest on principal shall be described as follows:

(i) Interest is calculated on a one-year basis by 365 days. The interest of a statement period is calculated as follows:

*Interest amount =*	∑ *(Actual balance x Number of days maintaining actual balance x Interest rate)*
	*365*

Where:

- Actual balance: Refers to the balance as of the final interest day of the due principal outstanding balance, overdue principal outstanding balance that the Cardholder has to pay to VPBank is used to calculate the interest as agreed in the Contract and the regulations of the laws;

- Number of days maintaining actual balance: Refers to the number of days that the actual balance at the end of each day is not changed;

- Interest rate: Refers to due interest rate, overdue interest rate as specified in the Contract and related documents. Interest rate is calculated by % on a yearly basis by 365 days and by the method of “calculating the first day, leaving the last day of the interest period”.

- Interest period and time for determining balance for interest calculation: The interest period shall be determined since the date of facility disbursement till the end of the consecutive day before all outstanding balances are successfully paid to VPBank and balance for interest calculation is calculated at the end of each day during the interest period where, the date of facility disbursement is determined as follows:

✓ For cash withdrawal transactions: The withdrawal date is updated to VPBank’s card management system;

✓ For payment transaction of goods and services: The payment date of goods and services is posted to VPBank’s card management system.

(ii) If the term since the Cardholder receives the facility disbursement until the amount disbursed by VPBank is paid is less than one day, the Parties agree that the interest period and the number of days maintaining actual balance for interest calculation purposes is one (01) day, the actual balance is the balance at the end of the day in the interest period or the balance as of loan repayment date whichever comes first.

c) The due interest rate as specified at Item a) Clause 1 of this Article shall be applied to calculate interest in accordance with interest calculation method as prescribed at Item b) Clause 1 of this Article, which is equal to the interest rate of the corresponding year (convertible interest rate) under the applicable interest method:

(i) The interest period is determined from the following day when the loan is disbursed until the end of the day that all outstanding balances are successfully paid to VPBank; and

(ii) The actual balance for interest calculation is the opening balance of interest date

For purpose of clarification, this convertible interest rate is not applied to calculate interest under the interest calculation method as stipulated in Item b, Clause 1 of this Article.

2. Interest collection cases:

a) Where cash withdrawal or cash advance is initiated by the Cardholder: The Cardholder shall bear interest on the amount withdrawn/advanced and withdrawal fees (if any) until all debts are paid to VPBank. The interest from the transaction date to the first statement date shall be shown on the statement of the same period. If the Cardholder fails to pay or pays part of the outstanding balance withdrawn/advanced in the period (including interest and fee), the remaining outstanding balance (principal, interest, and fee) shall be assumed to apply interest as prescribed herein until it is fully paid and it shall be shown on the Statement of the next period.

b) Where payment transactions of goods and services is conducted by the Cardholder:

(i) If full outstanding balance on the statement (including the balance of the previous period, balance of cash withdrawal and payment for goods, services, interest, fee of such statement period) is paid before or on due date, VPBank will not collect interest on the entire payment transaction of goods and services in such statement period;

(ii) If the Cardholder fails to pay or pay only a part of the outstanding balance at the end of the statement period (including the balance of the previous period, balance of cash withdrawal and payment for goods, services, interest, and fee of such statement period) or make loan repayment which is at least the Minimum Payment, interest shall be charged on all payment transactions for goods and services in the statement period, unpaid transactions/outstanding remaining balance will continue to be charged until it is paid and will be reflected in the next statement period.

c) Reconciliation transaction: Interest for reconciliation transactions unpaid by the Cardholder shall also be calculated on the principle of cash advance/withdrawal transactions and payment transactions for goods and services as specified at Items a), b) of this Clause and the interest calculation method as prescribed at Item b) Clause 1 of this Article. Interest shall be refunded to the Cardholder for the transactions with correct complaint and reconciliation.

3. Overdue interest rate and default fees:

a) If the Cardholder fails to make Minimum Payment within 60 working days since the due date, the unpaid Minimum Payment shall be applied with default fee and overdue interest of 150% of applicable term interest rate. The remaining outstanding balance after deducting the Minimum Payment is still applied with the applicable term interest rate.

b) If the Cardholder fails to make full Minimum Payment upon 60 days since the first due date, the whole unpaid outstanding balance shall be applied with overdue interest rate of 150% of the applicable term interest rate.

c) Additionally, VPBank shall be further paid with default fee as prescribed by VPBank from time to time.

4. The Client agrees that all timely unpaid fees, penalties (if any) incurred during Credit Card is used by the Cardholder shall be included in the Credit Card’s outstanding balance. The interest rate applied to this outstanding balance shall be complied with this Article.

Article 7. Fee schedule

1. During the Card is used, the Cardholder assumes liability for paying to VPBank any fees specified in VPBank’s card fee schedule as prescribed by the laws, including but not limited to:

a) Card issuance fee: refers to fee that shall be paid upon registration of Card issuance, including: the first issuance fee, reissuance fee.

b) Annual fee: refers to fee that shall be annually paid by the Cardholder during the Card use.

c) Fee to change card type: refers to fee that shall be paid by the Cardholder upon registration to change the Card type.

d) Fee of international card transaction: refers to incurred fees when non-VND transaction is initiated.

e) Duplicate statement fee: refers to fee that shall be paid by the Cardholder when the Bank is required to issue the statement for transaction(s)

f) Reconciliation fee: refers to fee that shall be paid by the Cardholder incorrect or inaccurate reconciliation request is made on performed card transactions.

g) Fee of handling ATM-based card transaction: refers to fee that shall be paid by the Cardholder to make transactions at ATM.

h) Fee of changing card status: refers to fee that shall be paid by the Cardholder to request to open/lock the ATM Card.

i) Service fee or administrative fee for any Card Account-related requests, services or added utilities provided or performed by VPBank at the request of the Cardholder.

j) Other fees are complied with the laws and specified at VPBank’s Card Service Fee Schedule.

2. The Fee Schedule is specified by VPBank and publicly posted on Timo official website and Timo Application and/or at VPBank transaction outlets from time to time.

3. In case the Fee Schedule is changed, a notice shall be delivered to the Cardholder by one of methods as prescribed herein. Fee changes shall be valid and enforceable to the Cardholder upon 07 working days since notice is released by Timo channel and full payment shall be made to VPBank under new Fee Schedule.

4. Depending on the VPBank’s policy from time to time, the Cardholder may be entitled to one or some fees when the Card is opened or during a certain period of time during the Card use. Upon the expiry of the preferential terms or when the conditions for incentives are not satisfied by the Cardholder, the fee shall be collected in accordance with the normal fee schedule and the Cardholder is responsible for paying the service fee to VPBank.

Article 8. Payment and repayment

1. The Cardholder is responsible for payments of:

a) Transactions arising on the Cardholder’s Card Account with signature and PIN required or not or to be authenticated in other forms as prescribed by the International Card Institutions, VPBank and by laws as specified at Article 5 herein. On a monthly basis, the Monthly Statement shall be prepared and sent to the Cardholder via email registered on the Application which lists all transactions initiated by the Cardholder (including primary and supplementary Cardholder) arising in the statement period according to transaction dates posted in VPBank’s system, transactions on the Statement which have been converted into VND at exchange rate released by the international card institutions or VPBank as of date shall be posted in VPBank system. Where the Cardholder’s non-VND transaction is conducted, fee of international card transaction or other fees shall be charged as prescribed by VPBank from time to time.

b) The Cardholder is obligated to make full payment for principal, interest, fees, penalties and other financial obligations mentioned in the monthly Statement delivered by VPBank.

c) Upon receipt of the Statement, the Cardholder shall check and make payment to VPBank of the amount equal at least to the Minimum payment as shown in the Statement and/or within the term notified by Timo channel by one of some methods prescribed herein (due date).

d) Where the Cardholder fails to receive the monthly Statement for any reason beyond the proper control of VPBank, the Cardholder shall still make concern payments in the period and notify Timo channel to check and find the root causes.

e) The Cardholder is committed to making unconditional payment for all transactions listed in the Statement.

2. The Cardholder shall notify VPBank in writing or via Timo Care Call Center or other channels regulated by VPBank regarding the card transaction-related complaints within the term as prescribed in these T&C and VPBank’s regulations from time to time. If no complaint is received by VPBank beyond such period, the Cardholder shall be implicitly considered to have agreed with all transactions and accruals shown in the Statement. VPBank shall have no responsibility to settle card transaction-related complaints and grievances from the Cardholder beyond such period.

3. Method of payment: The Cardholder may make payment for obligations incurred on the Statement by one of the following methods: (i) in cash at the Bank; (ii) by automatic debiting the current account by VPBank; (iii) by transfer from current account opened at VPBank or other banks. The outstanding balance may be early paid by the Cardholder.

4. The Cardholder’s payments for the Statement shall be applied with priority order as prescribed by VPBank.

5. In the event that Card Account is transferred with the amount greater than that to be paid as specified in the periodic Statement, the Client agrees that the remaining amount after VPBank’s debt collection will be managed and used to pay off the outstanding balance of the next statement period, which will not be entitled to interest.

Article 9. Reissuance, renewal, rejection and recovery of the Card

1. Reissuance and renewal of the Card:

a) The Cardholder may request VPBank to reissue the Card in the event of lost/stolen Card, Card expiry, change of Card type or request on new Card issuance in replacement of old or damaged card ... and/or renewal of the Card when the Card expires.

b) When VPBank’s conditions are required by VPBank, VPBank will consider to reissue or renew the Card to the Cardholder. Fees of Card renewal and reissuance shall be borne by the Cardholder.

2. Recovery of the Card: The Card shall be recovered in the following cases:

a) Forged card.

b) Unauthorized card.

c) For purpose of investigation, handling criminals as stipulated by the laws.

d) The Card is named in Black Card, expired card list.

e) Others to be recovered as prescribed by VPBank from time to time.

3. Card reissuance fees shall be borne by the Cardholder. The Cardholder’s Card Account shall be debited with related fees as prescribed by VPBank.

4. Rejection of the Card: The Card shall be rejected when:

a) The Card is named in Black card list.

b) The Card expires.

c) The Card is locked.

d) The card is damaged, scratched, or warped;

e) The card is forged or related to the forged transactions.

f) The balance of the primary cardholder is insufficient for payment.

g) The Card is notified to be lost by the Cardholder.

h) The Card is used to perform prohibited transactions or actions as prescribed by the laws and VPBank.

i) The Cardholder violates regulations of these General Terms and conditions and VPBank regulations on Card use.

j) The Card is related to transactions covered by embargo or sanction.

k) The Cardholder fails to fully pay fees or financial obligations under the Fee Schedule and/or regulations published on VPBank official website and/or at transaction outlets from time to time.

l) The Cardholder violates the regulations on card payment of Acquirer and SBV.

m) The Card is not registered or not licensed for relevant services.

n) The Card is used to pay for transactions involving individuals or organizations in the black list, warning list, list of anti-money laundering and anti- terrorism financing issued and/or recommended by the competent authorities and/or the Card is used to pay for transactions subject to sanctions or embargoes.

o) Others as prescribed by VPBank and the laws.

5. The Cardholder agrees that, according to the VPBank’s policy from time to time (card security policy, card development policy, etc.); VPBank may consider requesting the Cardholder to change Card series (type) which the Cardholder is using to a new series (type). Prior to implementing the new card line (type), the Cardholder shall be notified about such change by one of the contact methods as defined herein. If the Cardholder fails to perform, improperly or incompletely performs at the request of VPBank, the Cardholder will be considered to breach its obligations hereof. Then, VPBank shall be entitled to consider and apply the appropriate settlement measures specified herein.

Article 10. Suspension, termination of the Card

1. The Cardholder’s Card may be suspended or closed, invalidated and recovered by VPBank in following cases:

a) The Card has expired but no request of renewal is submitted by the Cardholder;

b) The Cardholder fails to make full Minimum Payment after 30 working days since the first due date over that Minimum Payment;

c) The Card is not activated within 10 months since its date of issuance in VPBank’s system. Such date of issuance in the system shall be determined and notified to the Cardholder by VPBank;

d) The Credit Limit is exceeded without VPBank consent;

e) The Cardholder violates regulations herein and/or regulations of VPBank/law/payment institutions related to the issuance and use of VPBank card. In this case, VPBank shall be exempted from liabilities for any harm to the Cardholder’s honor and prestige during the Card;

f) The Cardholder refuses to provide documents as prescribed by VPBank in periodically reassessing the Credit Limit;

g) Cases are related to card forgery and risk management;

h) At the request of the competent authorities or International Card Institutions on suspending the Card use;

i) At the request of the Cardholder;

j) VPBank cannot contact with the Client after notice is delivered to the Client in accordance with one of the methods hereunder;

k) The Cardholder is named in black list, warning list, list of anti-money laundering and anti-terrorism financing issued and/or recommended by the competent authorities and/or applied at VPBank;

l) Others under these General Terms and Conditions and VPBank’s regulations and the laws from time to time.

When the required conditions are satisfied and the Cardholder needs, VPBank will re-open the suspended Card for the Cardholder. Request may be initiated on the Timo Application or at any Timo customer care transaction outlets or calling Timo Care to support opening the Card in accordance with VPBank regulations from time to time.

2. Termination:

a) VPBank is entitled to terminate the Card use in the following cases:

- After 90 working days from the first due date, if the Cardholder fails to make the Minimum Payment shown on the latest Statement, VPBank has the right to terminate the use of the Card and recover debt (including the concerned collaterals, if any).

- The Cardholder violates the regulations on credit issuance and Card use of VPBank, International Card Institutions or the laws.

- The Cardholder has arisen other overdue loans or others that are early withdrawn at VPBank or at other credit institutions;

- Documents and information provided by the Cardholder, the Guarantor (if any) are found to be inaccurate, untruthful and untrue.

- Cases related to forgery and risk management and/or regulations on anti-money laundering and anti- terrorism financing.

- At the request of the competent authorities or International Card Institutions on Card use.

- Cases that VPBank deemed to be necessary.

- At the request of the Cardholder.

- The Cardholder violates terms applicable to other loans offered by VPBank.

- The Cardholder dies, declared to be dead. VPBank cannot contact with the Client after a notice is delivered to the Client in accordance with one of the methods herein.

- Others under these General Terms and Conditions and regulations of VPBank and the laws from time to time.

b) The Cardholder may request the Card termination, provided that it fully meets the provisions of these General Terms and conditions and fulfills its financial obligations with VPBank as prescribed by the laws.

c) The card termination shall be effective and approved by VPBank only when the Cardholder has fully implemented his/her obligations and responsibilities to VPBank as follows:

- Termination of Card and Card Account shall be effective only when VPBank approves and performs card locking in the system. Accordingly, upon termination of the Card, VPBank shall be fully paid with entire outstanding balance (principal, interest, etc.), accruals (if any) and financial obligations related to the Card opening and use.

- The Card must be returned to VPBank and not used to make online, telephone-based or mail payment for the purchase of goods/services. Any transaction made by Card or PIN (whether by Cardholder or not) before the Card is returned to VPBank, the Cardholder is still responsible for paying for such transactions to VPBank.

- In case the Card is not returned, the Cardholder must pay for VPBank the lost card fee (if any) according to VPBank’s published regulations. At the same time, the Client is responsible for all outstanding debts initiated by the card after it is locked in the system.

- Notwithstanding the Cardholder’s request of Card termination, within 30 working days since the date of request and/or the date of card locking by VPBank, if the Cardholder’s Card Account is subject to transactions, the Cardholder shall be still responsible for paying for arisen transactions.

Article 11. Providing information, refunding unused money on Card

1. The Cardholder is entitled to request information provision on Card Account balance, card transaction history and other necessary information related to the Card use. For such purpose, the Cardholder may request on the Timo Application, go to Timo channel transaction outlets or call Timo Care. The Cardholder is obliged to comply with the regulations, requirements and pay fees (if any), etc., in accordance with VPBank’s regulations when information request is submitted. Upon receipt of the valid request from the Cardholder, Timo will provide information to the Cardholder in accordance with the provisions of law. The information will be provided in the manner agreed by VPBank and the Cardholder when the request is submitted by the Cardholder as prescribed by the laws. The Cardholder agrees that VPBank can provide a variety of ways of providing information to the Cardholder (in writing, via phone, via email, SMS...), phone, email and SMS messages can have potential risks in the event of disclosed personal information, account or Card of the Cardholder. The Cardholder hereby confirms and is fully aware of these risks and undertakes to bear all risks (if any).

2. In all cases, the Cardholder’s money will be managed in the Card Account so that VPBank may collect debts and other financial obligations from the Cardholder. The unused money on the Cardholder’s Card after being deducted to fulfill the Cardholder’s financial obligations at VPBank (if any) will be refunded to the Cardholder upon closing the Card as prescribed by VPBank.

Article 12. Safety and confidentiality during the Card use

1. In order to ensure the safety and confidentiality during the Card use, the Cardholder shall:

a) Keep the Card confidential, secure PIN, other Cardholder identification codes, card information, transaction information, and not to disclose the card information, etc.

b) Not allow other people to use the Card, transfer the Card to others, make pledge/mortgage of the Card to any institutions or individuals.

c) Comply with the confidentiality instructions and procedures provided by VPBank and/or related institutions (Card Payment Institution, Card Switching Institution, the Merchants, etc.) when the card transactions are initiated by the Cardholder. Depending on each transaction or service performed by the Cardholder, the Cardholder may be requested to use one or a number of security elements, corresponding to his/her authentication method, including but not limited to information on card number, password, user name, OTP, security question, security code, phone number, and email that the Client has registered with VPBank. The Cardholder assumes liability for keeping the aforesaid security elements confidential and takes reasonable measures to prevent the unauthorized use of such security elements. The Cardholder is liable for damages caused by disclosed, stolen, abused security elements, etc., in accordance with Clause 3 of this Article.

d) The Car holder is responsible for maintaining the electronic equipment used to connect to the VPBank system and perform Card transactions (computer, telephone, etc.). The Cardholder is required to log out the system, transaction screen when leaving the equipment that the Cardholder has made a transaction.

e) Timely notify and coordinate with VPBank to handle the Card security and confidentiality-related matters during the Card is used. Protect the safety of the Cardholder’s assets and transactions, the Cardholder requests VPBank to take appropriate measures such as locking or temporarily locking the Card, refusing card transactions when the Cardholder’s security elements are checked and responded to be incorrect by the system upon some certain access times.

f) Comply with other obligations and responsibilities as prescribed by the law on keeping safe and confidential during the use of Card.

2. To maintain the Card safety and confidentiality, VPBank shall:

a) Take measures to ensure safety and prevent risks for Card transactions according to the principles and provisions of the laws.

b) Keep confidential information related to Card activities; ensure the infrastructure and techniques for managing the Card issuance and payment safely and smoothly.

c) Set up and maintain 24/7 call center to promptly receive and handle information from the Cardholder.

d) Comply with other obligations and responsibilities as prescribed by the laws on keeping safe and confidential during the Card issuance and payment.

3. Where the card is stolen, lost or the PIN is disclosed, the Cardholder shall promptly notify to Timo Care or directly notify at the VPBank transaction offices and confirm by written notice to Timo right after. Where the Card is taken advantage due to a theft, displacement, PIN disclosure, and other frauds/forgeries before a legally valid written notice or message on VPBank’s handling the card loss notice is released by VPBank, the Cardholder shall bear all losses for all card transactions caused by the concerned Card. The Card is locked in the system right after VPBank receives the notice from the Cardholder and completes the handling within 05 business days for the Card with BIN issued by SBV or 10 business days for the Card with BIN issued by the International Card Institution since the notice is received from the Cardholder as prescribed in this Clause.

Article 13. Reconciliation, handling complaints during the Card use

1. Method of receiving reconciliation requests and complaints from the Cardholder

a) When reconciliation and complain on card transactions are arisen, the Cardholder can go to the transaction outlets of Timo channel or call Timo Care or via other means applied to Timo channel and notified the Cardholder from time to time. If the Cardholder requests to reconcile and complain through Timo Care, as necessary, VPBank shall request the Cardholder to submit the request (in the form accepted by VPBank) for the specified term by the Bank as the official basis to handle the request for tracer and complaint. The Cardholder shall comply with the VPBank regulations, requirements and procedures when conducting reconciliation and complaints in accordance with the law. In the event that other persons are authorized to request the reconciliation and complaint, the authorization regulations of VPBank and the laws shall be complied.

b) In case VPBank is notified about any suspicion of fraud or losses, in order to timely limit any losses, the Cardholder agrees to allow VPBank to consider locking card. In that case, the Cardholder shall be notified and be liable for all incurred financial losses due to the Card use upon the Card lockout.

2. Term of handling reconciliation and complaints

Depending on each type of card (Card with BIN issued by SBV, by the International Card Institution) and each type of Card transaction performed by the Cardholder (card transaction within the VPBank, Interbanking transaction, payment transaction, cash withdrawal at ATM, etc.), VPBank will resolve and respond to the Cardholder’s request on reconciliation and complaint within the term, corresponding to the nature of each transaction on the basis of compliance with the time for handling reconciliation and complaint by the laws.

3. Handling the results of reconciliation and complaints

The handling of the Cardholder’s reconciliation and complaint results will be implemented by VPBank within the time limit prescribed by the laws and the following principles shall be complied:

a) In case of losses incurred and causes identified not due to the Cardholder’s fault and/or not under Force Majeure as specified in the Contract, the Cardholder shall be reimbursed within 05 business days since the reconciliation and complaint results are notified to the Cardholder. In case of incurred losses at fault of related parties (Acquirer, Card Switching Institution, International Card Institution, the Merchants, etc.), VPBank shall be reimbursed by the defaulting party as agreed by the Parties in accordance with the legal regulations.

b) In case of any losses incurred and causes identified due to the Cardholder’s fault: VPBank is not obliged to compensate damages incurred by the Cardholder.

c) If the time limit for handling the reconciliation and complaint is reached as agreed in the Contract without any determined reason or fault of any Party, within the next 15 business days, the solution or agreement on the temporary compensation for damage incurred by the Cardholder shall be agreed by VPBank and the Cardholder until the final conclusion released by the competent authority clearly determine the fault and responsibility of the parties.

d) In event of criminal signs, VPBank shall notify the State competent authorities in accordance with the legal regulations on criminal procedures and report to the State Bank (the Payment Department, branches of SBV at provinces and cities in the area); and give a written notice to the Cardholder on the status of the handling of tracer and complaint. The handling of reconciliation and complaints shall be covered by the State competent authorities. In case the State competent authorities announce the result without criminal signs, within 15 business days since the conclusion is released by the State competent authorities, a common agreement on handling the reconciliation and complaint results shall be reached by VPBank and the Cardholder.

e) In case VPBank, Cardholder and related parties cannot reach an agreement and/or disagree with the process of tracer, complaint, the settlement of the dispute shall be conducted in accordance with the legal regulations.

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.

Article 15. Terms and conditions of Installment Plan for credit card transactions

During the credit card is used, the Cardholder can apply for the Installment Plan for Timo Life credit card transaction at VPBank (“Plan”), where VPBank and Cardholder determine and agree that the amount of interest payable plus the installment payment principal will be equally divided by the number of months that the Cardholder registers to make installment payment. When the Cardholder participates in the Installment Plan for credit card transactions, the Cardholder agrees to comply and is fully bound by the whole contents of the following terms and conditions:

1. Conditions of the Plan:

a) In order to participate in the Installment Plan for credit card transactions, the Cardholder must meet VPBank’s required conditions as of registration date and during the Installment Plan.

b) VPBank reserves the right to refuse application to participate in the Installment Plan for credit card transactions when Cardholder fails to meet VPBank’s conditions and terminate the provision of the Installment Plan when the Plan conditions are no longer satisfied by the Cardholder.

2. Contents of the Plan:

a) Amount of initial installment payment:

- For spending transaction: The amount that Cardholder uses Timo Life credit card to purchase goods and/or use services at the merchants or online transactions. The Cardholder registers full installment payment (the entire spending transaction), but for partial installment payment.

- For cash withdrawal transaction: The amount that the Cardholder withdraws from the Card Credit Limit, excluding the fee and interest arising out of the transaction. The Cardholder registers full installment payment (the entire cash withdrawal transaction), but for partial installment payment

b) Installment term: For each transaction of the Plan, the Cardholder is entitled to register 3-month, 6-month, 12-month installment terms or other period as stipulated by VPBank from time to time, provided that this period shall not exceed the remaining validity of the Card.

In the Installment Term, the Cardholder is not allowed to close the Credit Card unless the Installment is fully paid or in case the Cardholder is required to close the credit card by the laws or approval on Card closing is obtained from VPBank.

c) Installment interest rate, monthly installment amount, pre-mature payment fee and other fees:

i) Installment interest rate:

- Depending on each cooperation program with partners and/or other criteria, the installment interest rate for payment transactions of goods and services and the cash withdrawal transactions are regulated by VPBank and announced from time to time on Timo official website and Timo Application. The installment interest rate for each installment amount registered by the Cardholder is fixed during the Installment Term for such amount.

- The installment interest rate for cash withdrawal transactions is calculated when VPBank approves the successful registration of installment payment by the Client and gives a notice to confirm that the installment payment has been successfully registered by the Cardholder as prescribed herein. Since the cash withdrawal transaction is successfully completed (by message or email or other methods from time to time for the Cardholder to successfully withdraw the cash from the Card) until before the Client is approved to successfully register the installment, the cash withdrawal transaction will still be charged with interest and fees in accordance with VPBank’s regulations on cash withdrawal transaction from time to time.

ii) Interest calculation method: The installment interest is calculated by the following formula: Installment interest by (=) Amount of registered transaction multiplied with (×) Interest rate multiplied with (×) Installment Term.

Where:

Amount of registered transaction: The amount that the Cardholder registers the installment for each spending, payment, and cash withdrawal transaction.

Interest rate: Calculated by %/ month by the method of “calculating the first day, leaving the last day of the interest period”.

Installment Term: The term that the Cardholder registers the installment payment to the transaction.

iii) The installment interest rate described in Point i) of this Item shall be applied to calculate the interest in accordance with the interest calculation method as prescribed in Point ii) of this Item. In order to clarify, the interest rate of the corresponding year in accordance with the interest calculation method as stipulated in Clause 1, Article 5, Circular No. 14/2017/TT-NHNN dated 29/9/2017 on defining the interest calculation method on depositing and credit extension transaction between credit institution and Client, calculated and announced by VPBank corresponding to each installment interest rate and publicly available on Timo’s official website.

iv) Monthly installment amount

Monthly installment amount = (Initial registered amount + (Interest rate x Installment Term x Initial registered amount)/ Installment Term

v) Pre-mature payment fee for installment amount and other fees, if any: complied with VPBank regulations from time to time.

d) Repayment of monthly installment amount:

i) Payment date: The monthly installment amount is recorded on the Statement along with the regular spending transactions in the statement period. The monthly installment amount is a part of the Minimum Payment amount that the Cardholder must pay for such Statement. The date of installment payment is the Minimum payment date as prescribed in the Credit Card Statement.

ii) Debt collection order: When the Minimum payment is made by the Cardholder, VPBank system will collect the following debts: installment payment for cash withdrawal transactions, installment payment for payment transactions of goods and services, cash withdrawal transactions, normal payment transactions of goods and services. This order can be changed according to the provisions of VPBank from time to time

iii) Where the Cardholder fails to pay all monthly installment amounts:

- In the event that the Cardholder fails to make or partially make the monthly installment payment on final due date of the Statement Period, the remaining of such installment in such statement period will be categorized as overdue debts and incurred with the following fees and interest:

- Overdue interest rate for overdue principal: equal to the applicable interest rate for regular transactions using Timo Life credit card (Transactions are not subject to the Installment Plan);

- Fee for delayed interest payment: equal to the applicable interest rate to transactions not involving in the Installment payment transactions calculated on basis of the balance of delayed interest corresponding to the delayed payment time

- Other fees as prescribed by the Contract.

iv) The principal, interest, and overdue interest, delayed payment fees will be shown in the next statement periods until full payment is made by the Cardholder.

v) The installment amounts in next months are still paid under registered payment schedule.

e) Pre-mature settlement by the Cardholder:

i) The Cardholder makes settlement of installment payments on the Timo Application under the detailed instructions on the Application screen

ii) The Cardholder can only make pre-mature repayment of the whole amount of the installment payments. In this case, the Cardholder is responsible for paying all outstanding principal and interest of the installment payment on the Statement, but not yet paid up (if any) and the outstanding principal without Statement together with the pre-mature repayment fee (settlement) as prescribed by VPBank from time to time.

iii) The pre-mature installment payments must be transaction qualified with pre-mature settlement in accordance with VPBank’s regulations from time to time.

iv) After the Cardholder has settled the successful/unsuccessful installment payments at VPBank, a phone message or notice by other forms may be delivered to the Cardholder as agreed in the Contract to confirm the successfully/unsuccessful settlement by Timo channel.

f) Termination of the Plan application

i) VPBank reserves the right to cancel or terminate the Installation Plan by notifying the Cardholder and requesting the Cardholder to immediately pay all outstanding balance of the Installment in the following circumstances:

The Cardholder violates the payment obligations of installment payments or breaches of obligations under the Agreement

The Cardholder no longer meet conditions as stipulated at Item a) Clause 1 of this Article.

The Cardholder’s credit card is closed, locked, temporarily locked, cancelled, etc.

Other cases VPBank deems to be necessary.

ii) Upon the Plan termination, the entire remaining balance of the Installment (including interest and fees (if any) of the remaining periods) shall be immediately due, payable and automatically debited to the Cardholder's Credit Card Account. Such payment of credit card is implemented in accordance with VPBank regulations. The Cardholder may have to pay fees and expenses related to the Plan termination determined by VPBank as the case may be.

3. Method of Installation Plan subscription:

a) The Client can apply for installment payment for successfully spending transactions, cash withdrawal transactions using Timo Life credit card under the method as specified in Item b, Clause 3.

b) After successful transaction, the Client subscribes the Installment Plan with VPBank via Timo Application by the following methods:

- The Cardholder should log in Timo Application, initialize the Application to subscribe installment payment for Timo Life credit card transaction, accept the General Terms and Conditions of Installment Plan for use of Timo credit card as instructed on the Application screen and the process of subscribing and handling installment payments for Timo Life credit card transaction on the Timo Application from time to time;

- After the conditions for the Plan engagement are successfully satisfied by the Client and agreed by VPBank, the Cardholder shall comply with all terms and conditions of the Plan as prescribed herein and other relevant regulations of VPBank;

- Once the Cardholder successfully registers via the Timo Application, Timo will send a notification on Application and email or by others according to the provisions of these General conditions to the Cardholder to confirm the successful registration by the Cardholder and/or an email stating the terms and conditions of the Plan.

4. Other provisions of the Plan:

a) VPBank is exempted from responsibility for force majeure events during the Plan that causes the Cardholder’s transactions to be wrong from leading to the unsuccessful registration of installment payment by the Cardholder.

b) In case of any changes related to the Plan, VPBank Timo will notify the Cardholder via email or SMS or notice on Timo’s website or others according to VPBank’s regulations from time to time

c) At VPBank’s discretion, VPBank reserves the right to refuse the Cardholder’s request to participate in the Installment Plan.

Article 16. Compliance with FATCA

The Client acknowledges that (i) the Client has been notified by VPBank about the Terms and Conditions on Compliance with FATCA for Individuals on the VPBank website (www.vpbank.com.vn and www.getplus.vn) (“FATCA Terms and Conditions”); (ii) thoroughly read, understood and committed to fully comply with the provisions of this FATCA; (iii) agreed that VPBank reserves the right to change (amend, add or replace) the contents of the FATCA Terms and Conditions from time to time at sole discretion of VPBank without prior notice or the Client’s consent.

Article 17. Exchange, provision of information and amended, supplemented terms

1. The Client agrees to receive information, products, services, programs, incentives from VPBank and/or its partner. The Client shall be informed about any issues related to the Services as well as other VPBank’s products and services, including any amendments, supplements and adjustments to VPBank’s policy to the service, program, incentives, etc. of VPBank and/or VPBank’s partner by one of contact methods applied by the Timo channel from time to time with unlimited quantity and time, covering the method of sending a written notice to the Client address, calling, sending SMS to the Client’s phone, sending email, listing at the service outlet of Timo channel or notice on the Timo website and other methods as defined by the laws. For the contents that the Cardholder is informed in writing as prescribed by the Contract, relevant documents or regulations of the laws, the Parties agree that the text may be made by the Timo channel and sent by printout or by SMS, email, etc., to the Cardholder in accordance with this Clause.

2. Parties agree that the Client’s address, phone number and email as mentioned at Clause 1 above are the address, phone number and email registered by the Client in the Application. The Client is deemed to receive the notice from Timo channel when Timo channel gives a notice by the methods above to the Client’s address, phone number and email or posted at Timo channel outlets or on Timo website, VPBank is not responsible for confirming if Cardholder received such notice.

In case of any changes on address, phone number and email, the Client shall notify to Timo channel in writing or by changing personal information on Timo application; unless Timo is entitled to notify to the old address, phone number and email and the Client is deemed to receive the notice when Timo notifies to this address, phone number and email and contents of these notices are bound to the Client.

3. Where the Client wishes to receive the Contract for the issuance and use of the credit card, Customer can request through Timo Care to be provided or receive the Contract in other ways as Timo channel deploys each period.

4. Any notices, requests from the Client shall be sent to VPBank by one of the following methods: via Application, nearest transaction point of Timo channel or via Timo Care as stipulated by VPBank from time to time. Depending on transaction requested by the Client, upon receiving the Client’s notice via the methods above, VPBank may request the Client to complete relevant procedures in accordance with the laws.

Article 18. Governing law

1. These General Terms and Conditions are governed by the applicable laws of the Socialist Republic of Vietnam.

2. If any term or condition in these General Terms and Conditions or any part or provision herein is declared invalid or unenforceable by the State competent agency, validity of other terms and conditions, parts and items of these General Terms and Conditions shall not be affected.

3. Contents uncovered by these General Terms and Conditions shall be subject to regulations on products and services of VPBank and the relevant laws.

4. Any disputes arising out of or in connection with this Contract shall be solved through negotiation, conciliation and mutual respect. Where conciliation does not work or the Parties do not want a conciliation, such dispute shall be put forward to the People’s Court with jurisdiction in Vietnam for final settlement. The Parties agree that the address as stated at the Application for registration is the address used so that the Court may define authority to resolve disputes as stipulated by the laws. In case the Client changes address without giving a written notice to VPBank, the Client is deemed to hide address, avoid obligation and VPBank is entitled to request the Court to handle the case under the normal procedures

Article 19. Language

These General Terms and Conditions shall be made in Vietnamese.

Article 20. Validity

1. The regulations herein are valid and enforceable since the date mentioned at the first section herein. Since the effective date of these General Terms and Conditions, the terms and conditions are applied to all Timo channel Personal Cardholders who are issued and covered with Timo Life credit card (including clients issued with Timo Life Credit card, previously).

2. By signing the Application, the Client confirms that VPBank has provided all information about method of interest calculation, applicable interest rate, principles and factors to determine the adjusted interest rate (in case VPBank applies the adjusted interest rate) in accordance with the laws before this Application is signed.

3. The Client confirms to have read, understood and strictly adhered to Terms and Conditions of Service in these General Terms and Conditions, other Service regulations of VPBank and the applicable laws of Vietnam.

TERMS AND CONDITIONS OF INSTALLMENT PLAN FOR TRANSACTIONS WITH TIMO MASTERCARD LIFE

Detailed Terms and Conditions

Article 1. Purpose, subject and scope of application:

1. Purpose: It aims to specify the Terms and Conditions of the Installment Plan for transactions with Timo Mastercard Life and related matters upon the Client’s engagement.

2. Subject: It is applicable to the Primary Account Holder of Timo Mastercard Life.

3. Scope of application: This document is applicable to entire VPBank Timo system.

Article 2. Definitions and abbreviations:

1. Credit card/ Timo Mastercard Life: An unsecured Timo Mastercard Life is released under the Decision No. 302/2016/QD-TGD of the Chief Executive Officer dated 10 June 2016 on issuance of unsecured credit card, Timo Life, and its amendments, supplements and substitution (if any) from time to time.

2. VPBank: Vietnam Prosperity Joint Stock Commercial Bank.

3. Timo app/Application: Timo app helps the Timo cardholders to perform the banking transactions regarding the types of their accounts/ Cards opened at VPBank (through VPBank Timo) on smart phone or web browsers.

4. Timo/VPBank Timo: VPBank’s digital banking channel makes the Timo cardholders able to perform the banking transactions upon identification, opening of payment account and registration of using the e-banking services as regulated.

5. Client/Cardholder: Primary Account Holder of Timo Mastercard Life;

6. Plan: Installment plan for transactions with Timo Mastercard Life as prescribed hereunder;

7. Transaction: All in-store or online transactions with Credit Card (to purchase goods or services) and/or cash withdrawal transactions with Timo Mastercard Life have been successfully posted into VPBank system.

Article 3. Introduction about the Installment Plan with Timo Mastercard Life:

1. Upon participation, the concerned cardholders may register the payment or cash withdrawal transactions made by Timo Mastercard Life (eligible for the Plan's conditions) as an outstanding installment balance.

2. The installment balance will be divided into the equal portions by the number of months registered by the Cardholders.

3. A monthly portion (the installment amount) is recorded into your Credit Card Statement and become a part of the minimum amount payable in that statement period. The remaining amount will be reflected in the next statement periods until the installment (including principal, interest, and fee) is fully paid by the Cardholders.

4. Outstanding credit card balance must be fully paid by the Cardholders, including the installment balance in accordance with VPBank’s applicable regulations on Credit Card Balance Payment.

Article 4. Eligibility for the Plan:

1. In order to join the Plan, the following conditions shall be simultaneously satisfied by the Cardholders:

a) To be the Primary Cardholder of Timo Mastercard Life.

b) To make the in-store or online credit card-based transactions to purchase goods or services and/or to withdraw cash with the value of VND 3,000,000/transaction or more. To make the registered cash withdrawal transactions, excluding the transaction fee. The withdrawal fee is applied when withdrawal is initiated by the Cardholder and such fee is recorded into the credit card statement of the corresponding month, not accounted to the outstanding installment balance.

c) Registered installation transaction must be successfully posted into VPBank system and not printed to the statement.

d) The credit card account is in delay status for minimum payment as prescribed by VPBank from time to time at which the Plan is registered by the Cardholder.

e) The cardholder’s credit card is active (status “Card OK” or similar status on VPBank system). The installments will be deducted from the available credit limit of the Card and total value of all next transactions shall not exceed the rest of available limit from time to time. With the rest of available limit, if the Cardholder wants to register for the next installment(s), it must be greater than or equal to the value of the registered transactions(s) and interest of the installments paid by the Cardholder in accordance with VPBank's provisions from time to time at which the Cardholder registers for the Plan.

f) The remaining validity period of the Card must be greater than or equal to the term of registration.

g) Other conditions as regulated by VPBank from time to time.

2. The cardholders who are eligible for the conditions specified at Clause 1 of this Article may join various installment transactions at the same time.

3. VPBank has the right to cancel the unqualified Cardholders' application for the Installment Plan on Timo Mastercard Life transactions as per the conditions specified in Clause 1 of this Article or terminate the services offered to such Cardholders.

Article 5. Procedure of Plan registration:

1. Installment payment may be registered for payment and cash withdrawal transactions made successfully with Timo Mastercard Life in the manner mentioned in Clause 2 of this Article.

2. After the transaction is successfully performed, the cardholder may apply for the Installment Plan with VPBank through Timo App as follows:

- The Cardholder signs up Timo App, registers the installment payment for the successful transactions with Timo Mastercard Life, accepts the terms and conditions of Timo Mastercard Life-based Installment Plan at the General Terms and Conditions on issuance and use of Timo Mastercard Life (hereinafter referred to as the Terms and Conditions of the Installment Plan) as detailed on the screen of Timo App and the Procedure of registration and settlement of the installments for transaction with Timo Mastercard Life on Timo App from time to time;

- After the Timo App registration is successfully initiated, the Cardholder will be delivered with VPBank Timo's confirmation message via the App and email or otherwise from time to time and/or an email that specifies the terms and conditions of the Plan.

Article 6. Contents of the Plan:

1. Initial registered amount:

a) For the payment transaction: The amount is used to purchase goods and/or services via the in-store or online transactions with Timo Mastercard Life. The full installment payment (all payment transactions) is registered by the Cardholder, rather than partial registration.

b) For the cash withdrawal transaction: It refers to the amount to be withdrawn from Card’s Credit Limit, excluding the transaction’s fees and derivative interest. The full installment payment is registered for the transaction (all the single withdrawal transactions), rather than the partial registration.

2. Installment tenor: For each Plan-based transaction, the Cardholder is entitled to register the installment tenors of 3 months, 6 months and 12 months, provided that this tenor must not exceed the Card’s remaining validity. During the installment tenor, the Cardholder is not allowed to close the Credit Card unless the installment transaction is fully paid or initiated in accordance with the legal regulations. The Cardholder must close the Credit card or obtain VPBank's approval on closing Credit Card.

3. Installation interest, interest method, monthly installment amount, prepayment penalty for installment and others:

a) Installation interest: Installation interest will be fixed for such installment during the installment tenor, in which:

i) Installment interest for goods/services sales: 1%/month or in accordance with the regulations of VPBank from time to time.

ii) Installation interest for cash withdrawal transactions: 1.69%/month or in accordance with the regulations of VPBank from time to time. This interest rate is calculated since the Plan registration is successfully approved by VPBank and a confirmation notice is delivered by VPBank Timo in the manner specified in Clause 2 of Article 5 hereof. Since the successful cash withdrawal transaction (as specified in the message or email notification or otherwise on cash withdrawal sent to the Cardholder) till the time prior to VPBank's approval on registration of installment plan, the interest and related fees have been still applied for each transaction in accordance with VPBank’s regulations on cash withdrawal transactions from time to time.

b) Interest method: It is complied with the interest method specified in the Decision No. 96/2018/QD-TGD dated 01 January 2018 on amending and supplementing the Installment Plan for VPBank credit card transaction and Installment Plan for VPBank credit card-based withdrawal transactions.

c) Monthly installment amount:

Monthly installment amount = (Initial registered amount + (Interest on installment x Installment tenor x Initial registered amount))/ Installment tenor.

d) Prepayment penalty for installment is equal to 2% multiplied (x) by the remaining installment balance unbilled. Such penalty will be governed by VPBank regulations from time to time.

The Cardholder is obligated to make payment for such penalty to VPBank at the nearest statement period after the prepayment transaction.

e) Other fees if applicable: it is complied with VPBank regulations from time to time as prescribed by the laws.

4. Payment of monthly installment amount:

a) Payment time: Monthly installment amount is recorded in the bank statement with the normal spending transactions in the statement period. Installment amount is a part of Minimum Payment payable by the Cardholder in such statement period. Installation payment time refers to the time to pay the minimum payment as specified in the bank statement.

b) Order for debt collection: When the minimum payment is successfully made by the Cardholder, the debt will be collected by VPBank in accordance with the following order: the installments for cash withdrawal, goods and services transactions, expenditures for cash withdrawal and normal goods and services transactions.

c) If the Cardholder fails to make any payment or full payment the monthly installment on final due date of such statement period, the portion payable/the remaining of installment in such statement period will be overdue and incurred with the following fees and interests:

- Overdue interest on the installment’s principal repayment: equal to the interest applicable for the normal transactions (uncovered by the Plan) with Life Timo credit card;

- Default fee for late installment interest: equal to the interest applicable for the transactions uncovered by the Plan; it is calculated on the balance of overdue interest corresponding to the delay period.

- Other fees as specified in the Agreement on Issuance and Use of Timo Mastercard Life.

d) The installment’s principal, interest and overdue interests, default fees will be reflected in the next statement periods until full payment is made by the Cardholder.

e) Installment amount of the next months will be assumed to be paid in accordance with registered schedule.

5. If the premature payment of installment is made by the Cardholder:

a) The Cardholder makes full payment via Timo App under the detailed instructions on the App screen and the Procedure of Registering and Settling Transaction Installments with Timo Mastercard Life on Timo App from time to time.

b) The remaining of the installment may be early paid by the Cardholder, rather than making the partial prepayment. The Cardholder will make full payment for the concerned outstanding principal and interests which are have not been settled (if any) yet and the off-statement sums together with prepayment (settlement) fees as per the level prescribed in Point d, Clause 3 of Article 5 hereof.

c) The remaining of the installment can be fully paid by the Cardholder at any time, except for settlement of final installment period. Where the Cardholder has successfully settled but received no notice on transaction result from VPBank while the installment amount of such transaction has been listed on the statement already, his request on installment prepayment will be rejected.

d) After the transaction is successfully settled at VPBank, VPBank Timo may, at VPBank's own discretion, deliver a telephone-based text message or other manners to the Cardholder to confirm the successfully settlement as specified in the Agreement on Issuance and Use of Timo Mastercard Life for confirmation.

6. Termination of the Plan

a) The Plan may be cancelled or terminated by sending a notice to request the Cardholder to immediately settle all outstanding balances of the Installment when one of the following cases occurs:

- The Cardholder fails to pay the installment or breaches the obligations under the Agreement on Issuance and Use of Timo Mastercard Life signed with VPBank.

- The Cardholder has no longer satisfied the conditions as stipulated at Article 4 hereof.

- The Cardholder’s credit card is closed, blocked, temporarily locked, invalidated, etc., or under other circumstances as VPBank shall deem appropriate.

b) Upon termination of the Plan, all outstanding balances of the Installment (including related interest and fees (if any) in the remaining periods) will be automatically debited to the Cardholder's credit card and recorded on the statement together with normal spending transactions in the nearest period. Deb payment is complied with VPBank’s regulations. The Plan termination-related fees and costs may be covered by the Cardholder as decided by VPBank as the case may be.

Article 7. Miscellaneous

1. At its sole discretion, VPBank has a right to cancel the Cardholder’s application for Installment Plan;

2. During the Plan, VPBank is exempted from any responsibilities for the failed transactions caused by Force Majeure, leading to the Cardholder’s unsuccessful registration.

3. By involving in this Plan, the Cardholder accepts all the signed or verified Terms and Conditions of the Installment Plan by the method agreed by the Client and VPBank.

4. Any changes in the Plan or VPBank Timo shall be sent to the Cardholder via email or SMS or posted in VPBank Timo website or other ways at sole discretion of VPBank Timo from time to time.

TERMS AND CONDITIONS OF FATCA

COMPLIANCE WITH FATCA

Contents of Additional Terms and Conditions with Application form and Contract between Customer and Vietnam Prosperity Joint Stock Commercial Bank (VPBank) constitute a complete “Contract” between Customer and VPBank. By signing Application form and Contract between Customer and VPBank, Customer and VPBank commit to comply with contents of Additional Terms and Conditions.

I. Definitions

Foreign Account Tax Compliance Act (FATCA) issued on 18/3/2010 by U.S governement generally requires that foreign financial Institutions report on the foreign assets held by their U.S. account holders or be subject to withholding tax with respect to any payment of US source income and proceeds from the sale of equity or debt instruments of US issuers. On 01/4/2016, Agreement between the Government of the United States and the Government of the Socialist Republic of Viet Nam to Improve International Tax Compliance and to Implement FATCA was signed and took into effect since 07/7/2016. According to this Agreement, Vietnam Prosperity Joint Stock Commercial Bank (VPBank) as a foreign financial institution (FFI) complying with FATCA, needs to collect information given by the taxpayers (Customer) who wish to open or maintain financial account with VPBank (whether the Customer is a U.S. taxpayer or not) to report Internal Revenue Service (IRS) via data transmission port of State Bank of Vietnam. Collected information will be used to meet the requirements of FATCA compliance only and will not be used for any other purpose.
The term “United States” means the United States of America, including the States, the District of Columbia thereof, but does not include the U.S. Territories (Guam, Puerto Rico, U.S. Virgin Islands, Northern Mariana Islands and American Samoa).
“Additional information” means any document and/or information in addition to Personal Tax Information of Financial Information that VPBank holds or VPBank may reasonably require from Customer in order to comply with VPBank’s Tax Reporting and Accounting Obligations.
“Tax Information” means any documentation or information relating to the Customer, the Customer’s identity or tax status including but not limited to the Customer’s name(s), residential address(es), age, date of birth, place of birth, nationality, citizenship, tax residence, domicile for tax purposes, tax identification number (if applicable) personal and marital status. For purposes of FATCA, it shall also include where applicable Forms W9 and W8-BEN, as issued by the Internal Revenue Service of the United States of America as amended, supplemented or substituted from time to time, or a self-certification form as defined under the laws.
“Financial Information” means any financial or other documentation or information relating to the Account including but not limited to the Account name(s), number(s) and reference(s), values, gains, losses, credits, withdrawals, balances, transfers and associated instructions from time to time.
“Legal” means domestic legislation and abroad legislation, instruction of managing department, inter-governmental convention or inter-governmental cooperation agreement.
“Tax Authority” means any domestic or foreign regulatory or tax revenue, fiscal or monetary authority.
“Tax Reporting and Accounting Obligations/ Responsibilities” means any obligation/responsibility of any sort that VPBank has or may become subject to in future: - To provide any documentation or information to a Tax Authority;- To take any other action that may be required by a Tax Authority; - Whether in accordance with the provisions of any law which VPBank is subject to or as assumed by VPBank voluntarily contractually or otherwise by reason of VPBank’s financial, commercial, business or other interests in or related to the jurisdiction of the relevant Tax Authority or otherwise including but not limited to FATCA.
“U.S. TIN” means a U.S. federal taxpayer identifying number.
“United States Resident” here is a foreign national who has not been granted green card but has physically presented in the U.S at least (i) 31 days during current year and (ii) equal or exceed 183 days over a three-calendar-year period including the current year and the 02 years immediately before (All days of physical presence during current year + 1/3 of the days of the last year + 1/6 of the days of year before current year the 02 years ago).

II. Specific terms and conditions

The Customer agrees that VPBank can verify the provided information from any source.

The Customer understands that a false statement or concealment of the U.S. individual tax status could lead to sanctions/ penalties under U.S. tax law, including FATCA
The Customer agrees to notify, provide, update tax and financial information within 30 (thirty) days if any tax and financial information provided previously becomes incorrect, outdated, insufficient or under VPBank’s written request.
VPBank does not give any tax advice to Customer. Customer has full responsibility to fulfill Customer’s worldwide tax reporting and filing obligations in relation to the Accounts.
The Customer agrees that VPBank may gather, store, use, process, disclose and report to any such Tax Authority or another authoritiy any Tax Information, Financial Information or Additional Information of Customer that the VPBank holds or that the Customer provides to VPBank pursuant to FATCA regulations and related Legal regulations.

If the Customer fails to submit/ to submit in time any required Information in FATCA related-forms, Requests of VPBank, or fails to complete other requirements (if any) under the requests of VPbank from time to time, Customer agrees that VPBank has the right to report any related information of Customer to Tax Authority or another authority and/or to apply the following punishments according to FATCA regulations and/or relevant legal regulations without any responsibility with Customer:

Refuse to open account, provide service for Customer;
By notifying Customer in writing, withhold tax on certain payments of US source income which are received or settled by VPBank in the compliance with FATCA and the relevant laws;

Close Customer’s account, suspend or terminate providing service for Customer or terminate Customer’s relationship with VPBank.

GENERAL TRANSACTION TERMS AND CONDITIONS ABOUT ISSUANCE AND USE OF TIMO DOMESTIC DEBIT CARD

The content of General Transaction Terms and Conditions about issuance and use of Timo Domestic Debit Card and Application Form cum Contract for opening and use of Account, issuance and use of debit card, E-banking service signed by Customer create a complete Contract for issuance and use of Debit Card (“Contract”) between Vietnam Prosperity Joint Stock Commercial Bank and Customer.

By selecting to use Service and signing Application Form for Membership cum Contract for opening and use of Account, issuance and use of Debit card, E-banking Service, VPBank and Customer hereby undertake to comply with the following Terms and Conditions:

Article 1. Definitions

1. “VPBank/Bank”: is Vietnam Prosperity Joint Stock Commercial Bank. VPBank includes Branches, Transaction Offices and other sale channels of Vietnam Prosperity Joint Stock Commercial Bank.

2. “Timo Channel/Timo”: is the channels for e-banking services of VPBank, which allow Customer to perform banking transactions after being identified, open spend account and register e-banking services in accordance with regulations.

3. “Service”: Is the service of debit card provided by VPBank to Customer.

4. “Customer/Card holder/Timo Member”: is individual customer subject to Timo Channel, whose information is specified in Application Form for Membership cum Contract for issuance and use of Account, issuance and use of Debit card, E-banking Service.

5. “Card merchant acquiring”: are organizations, individual accepting to pay goods and services via card according to Contract for card payment signed with Card Payment Organization.

6. “CDM/ATM (Automatic teller machine)”: is the device that Card holder can use to perform transactions such as: depositing, withdrawing cash, transferring, paying invoice of goods, service, querying account, changing PIN, searching card information or other transactions.

7. “POS (Point of Sale)”: is the card reader, a terminal device installed and used at Card merchant acquiring that Card holder can use card to pay for goods, services. POS can be installed at branches, transaction offices of Card payment organization to provide cash to Card holder under agreement of Card payment organization and Card issuance organization.

8. “CVV/CVC”: is the security code printed in the Card.

9. “NAPAS”: is National Payment Corporation of Vietnam.

10. “Application Form”: is Application Form cum Contract for opening and use of Account, issuance and use of Debit Card, E-banking Service signed and/or confirmed by Customer to open and use Timo Debit Card issued by VPBank.

11. “Contract”: Is Application Form for Membership cum Contract for opening and use of Account, issuance and use of Debit Card, E-banking Service signed between Customer and Bank, including General Transaction Terms and Conditions.

12. “Card/ Timo Debit Card”: is Timo Domestic Debit Card opened for Customer on the basic of Contract by Bank.

13. “General Transaction Terms and Conditions about issuance and use of Timo Domestic Debit Card/General Transaction Terms and Conditions about issuance and use of Debit Card/ Terms and Conditions about use of Debit Card” (Hereinafter called as “General Transaction Terms and Conditions”): is the fixed terms notified by VPBank in each period to apply for individual customer opening and using Timo Debit Card at VPBank. General Transaction Terms and Conditions are publicly announced under regulations of laws. If Customer signs Application Form, Customer shall be deemed to accept this General Transaction Terms and Conditions

14. “Timo Application/ Application”: is the Timo software program which allows Customer to perform financial transactions provided by VPBank on Smartphone or internet browsers.

15. “Timo Care”: is Call Centre of Timo (telephone number: (+8428) 7300 8466 (overseas) /18006788 (fee free) or other telephone number noticed by Timo in each period) to support customer care and service and serve demands of Card holder.

16. Other capitalized terms not explained in this General Transaction Terms and Conditions shall be construed and interpreted according to the respective contents in Application Form, products, services participated in by Timo Member in order to ensure to comply with relevant provisions of laws.

Article 2. Rights and obligations of Card holder

1. Rights of Card holder

a. Use Card to withdraw cash and purchase goods and services in the scope of card account balance/spend account/overdraft limit (if any) in spend account at VPBank and the scope of using Card as regulated in Clause 3 of this Article.

b. Use Card in limits including payment limit, transfer limit, cash withdrawal limit, other limits during using Card under regulation of VPBank noticed publicly on the official website and/or at Timo’s transaction points in each period.

c. Request VPBank to re-issue PIN, card, suspend or terminate to use card, change daily payment limit under regulations of VPBank.

d. Receive preferentials for Card holder of VPBank and/or provided by partners of VPBank in each period.

e. Claim, request VPBank to investigate card transactions of Card holder. The cases of investigation, method, time of submiting investigation request, duration of replying investigation under regulations of laws and VPBank shall be notified publicly on the official website and/or at Timo’s transaction places serving customer in each period.

f. Be provided with information about card transaction history and balance of card account, limits related to use of card and other necessary information under regulations of VPBank.

g. Receive deposit balance in spend account connected with Card under regulations of laws.

h. Request VPBank to close/unlock/lock temporarily using Card in accordance with regulations of VPBank.

i. Take part in preferential program for Customer opening Timo Debit Card under regulations of VPBank in each period.

j. Other rights under regulations of laws.

2. Obligations of Card holder

a. Directly come to Timo’s transaction points to receive Card/PIN or request VPBank to send Card/PIN via post (not applying for the first issuance of card). In case of registering to receive Card/PIN via post, Card holder agrees and confirms that VPBank shall be considered to complete delivery of Card, PIN when Card, PIN is delivered to the address that Card holder registered at VPBank. Card holder undertakes to bear all risks arising from registration of receiving Card, PIN via this method, unless VPBank’s fault causes such risks.

b. Take responsibility about Card management and security for the information related to their Card, especially PIN. Not allowed to assign Card to the other people.

c. Take responsibility to pay for all transactions arising in card account of Card holder (including transactions with or without signature, PIN or transactions with the signature different from Customer’s signature at the overleaf of Card) if VPBank provides with evidence that Card of Card holder is used to perform transaction in accordance with regulations about Scope of using Card at Clause 3 of this Article.

d. Not allowed to use Card for any transaction or any illegal purpose. Take responsibility against Bank and laws for fraud, counterfeiting Customer’s Card and Card/Account transaction regarding fraud, counterfeiting.

e. Customer is the main card holder who is obligated to open Spend account at Bank.

f. Refund immediately and unconditionally to VPBank for the amounts that Card holder withdraws redundantly, withdraw/pays exceeding balance of spend account, wrong Credit transaction into Account of Card holder and other wrong transactions that Card holder cannot prove legal ownership. Agree with VPBank on automatically debiting these amounts.

g. When Card is lost, stolen or PIN is disclosed, Card holder must notice promptly Timo Care Call Center or the nearest Timo’s transaction points and then immediately officially confirm such notice in writing for Timo. In case Card is misused due to loss, stealing, disclosure of PIN, other counterfeiting/fraud before VPBank submits a written notice or legal data message that VPBank handled loss card notice from Card holder; Card holder shall bear and compensate damages for all transactions of Card caused by misuse of Card, except for VPBank’s fault. VPBank shall lock card immediately when receiving the notice of Card holder and handle the notice received from Card holder not later 5 working days for BIN Card issued by SBV or 10 working days for BIN Card issued by Card International Organization from the date of receiving Card holder’s notice under regulations of this Point.

h. Sign a specimen signature by ballpoint pen in the overleaf of Card immediately receiving Card. When performing transaction at Card merchant acquiring. Card holder’s signature on invoice/payment document must be similar with the specimen signature unless such transactions do not request signature of Card holder.

i. Not allowed to use card noticed to be lost, stolen and return lost, stolen Card if found at Timo’s transaction points

j. Fully and promptly pay to VPBank all costs arising from use of Card.

k. Comply with terms and conditions at the General Transaction Terms and Conditions and regulations of VPBank, Card organization/Association and law on issuance and use of Card.

l. Activate Timo Debit Card via Timo Application or via other methods deployed by VPBank in each period or before using Card.

m. Other obligations under provisions of laws.

3. Scope of using Card and payment obligation of Card holder:

a. Card holder is entitled to use Card to withdraw cash at CDM/ATM/POS of VPBank/Card payment organization and CDM/ATM/POS in NAPAS league; pay for goods, services at Card merchant acquiring, via internet, email, telephone, etc and use other services due to VPBank and other Banks directly or indirectly connecting to VPBank via one or some intermediate organizations.

Card holder agrees that when entering into payment transaction by Card, depending on each card transaction and request/regulation of VPBank and/or Card merchant acquiring in accordance with laws and Card Support Organization, such card transaction might be verified by the methods including:

- Card and Card holder must be presented at Card merchant acquiring; and/or

- Signature of Card holder on invoice of card transaction; or

- Enter PIN when performing transaction; or

- Card information (Card name/Card number/CVV code/CVC, etc) provided via email, telephone, internet, etc; or

- Any other verification method registered at VPBank by Card holder; or

- Any other verification method regulated by VPBank, Card Support Organization and Card merchant acquiring.

b. Card holder fully understands and conceives that when Card holder performs card payment transaction, but Card and/or card holder are not present at Card merchant acquiring (i.e: payment transaction on internet, etc) and Card holder does not protect card information, the card of Card holder might be misused for such payment transactions without Card and/or Card holder’s presence at Card merchant acquiring. By signing in Application Form, Card holder confirms and completely accepts all risks.

c. Card holder commits taking responsibility to pay to VPBank for all transactions arising and verified by any method stated at point (a) above. Card holder agrees that Account Statement shall be the evidence to confirm transactions, charges, interest (if any) and all debit, credit amounts in the Statement is true and valid and Card holder shall pay all transactions, charges, interest shown in the Statement within the deadline prescribed in the Statement, unless wrongly accounted by VPBank.

Article 3. Rights and obligations of VPBank

1. Rights of VPBank

a. Terminate Card holder’s use of Card by canceling or revoking Card if Card holder violates the terms and conditions about use of Card in the General Transaction Terms and Conditions, use Card counterfeited and/or suspected to be counterfeited.

b. Be exempt when Card is misused to withdraw cash, pay goods, services and perform other transaction in case Card is lost/stolen/fraud and/or counterfeited, except for VPBank’s fault.

c. Not be responsible for delivery of goods, quality of goods, services paid by Card. Have right to debit Card account for value of goods, services whether such goods, services are delivered or performed or not.

d. Be exempt in case Customer’s claim, request of inspection is not paid by Bank or settled by Card Support Organization under regulations of such organizations, except for VPBank’s fault.

e. Change limits of using Card in accordance with VPBank’s policy in each period.

f. Other rights 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 order after checking, controlling legality, validity of such payment order.

c. Protect Customer’s Card information, not allowed to collect, use, transfer Customer’s information to the third party without Customer’s approval unless required by state competent authority and/or specifically regulated in the General Transaction Terms and Conditions.

d. Compensate all actual damages arising due to VPBank violates regulations about providing debit card services under the agreement and provision of laws.

e. Other obligations prescribed by laws.

Article 4. Fee schedule

1. During using Card, Card holder shall pay VPBank for fees according to Fee Schedule for card services in accordance with regulations of laws, including the following fees:

a. Fees regarding opening and use, management of Account/Card prescribed by VPBank in each period.

b. Fee of Card issuance: is the fee that Card holder must pay when register to issue Card; including: fee of the first issuance, fee of card re-issuance.

c. Fee of transaction statement: is the fee that Card holder must pay when requesting VPBank to issue a statement for transaction(s).

d. Fee of investigation: is the fee that Card holder must pay when requesting to investigate about any inaccuracy of performed Card transaction.

e. Fee of handling card transaction at ATM: is the fee that Card holder must pay when performing card transactions at ATM.

f. Fee of changing card status: is the fee that Card holder must pay when request to open/lock ATM card.

g. Service fee or administrative fee for any request, any service or additional utility provided by VPBank or performed at the request of Card holder regarding Card Account of Card holder.

h. Other fees prescribed by laws and specified at VPBank’s Fee Schedule for card services.

2. Schedule of Fees for card services shall be regulated and announced publicly on Timo Application, the official website and/or at Timo’s transaction points in each period.

3. In case of any fee in Schedule of Fees for card services, Timo shall notify Card holder in one of the forms regulated in Article 9 of the General Transaction Terms and Conditions. Change of fees shall take into effect to apply for Card holder after 07 days from the date that Timo notifies and Card holder must pay VPBank fully according to new Schedule of Fees.

Article 5. Collecting and keeping, exchanging, extending, re-issuing Card and refusing to accept Card

1. Card might be collected and kept by VPBank in the following cases:

a. Fake card

b. Card illegally used

c. Serving for inspection, processing crime under provisions of laws.

d. Other cases that it is allowed to collect and keep card under regulations of VPBank.

2. Card holder shall have right to request VPBank to exchange, re-issue Card and must pay charge of exchanging, re-issuing Card under regulations of VPBank.

3. When Card expiries, if Card holder wishes to extend and meet the condition according to VPBank’s request, VPBank might extend duration of using Card.

4. All costs related to exchange, extension, re-issuance of Card are paid by Card holder. VPBank is entitled to debit card account of Card holder for relevant charges under regulations of VPBank.

5. Refuse to accept Card: Card shall be refused to pay when:

a. Card is listed in Card Blacklist.

b. Card has expired.

c. Fake card or card related to counterfeiting transaction.

d. Deposit balance of spend account of main Card holder is not enough to make payment.

e. Card is notified to have been lost and VPBank has confirmed to have received such notification.

f. Card holder violates regulations of the General Transaction Terms and Conditions and other stipulations of VPBank about use of Card.

g. Card holder fails to fully pay charges or other financial obligation according to schedule of charge and/or public regulation on Timo Application, on the official website and/or at Timo’s transaction points.

h. Card holder violates regulations about card payment of card payment organization and State Bank of Vietnam.

Article 6. Termination of using Card

1. VPBank is entitled to suspend or close, cancel validity and revoke Card of Card holder in the following cases:

a. Card has expired: Prior to expiry date of Card 01 month, Timo shall send a notice to Card holder about issuance of new Card. If within 15 (fifteen) days from the date of notice, VPBank fails to receive any reply from Card holder, VPBank shall consider that Card holder would not request to keep on using Card.

b. Card holder violates the regulations of the General Transaction Terms and Conditions and/or VPBank/laws related to issuance and use of VPBank’s card. In this case, VPBank shall be exempt from any harm of honor, reputation of Card holder at the request of revoking card.

c. Cases regarding counterfeiting and risk management.

d. Terminate use of Card in case there is no card transaction arising during the continuous period of 12 months or more and handle balance in spend account connected to debit card of Card holder under regulations of the General Transaction Terms and Conditions and laws.

e. Customer does not maintain enough the minimum balance in card account under regulations of VPBank announced publicly on the official website and/or at Timo’s transaction points in each period.

f. At the request of state competent authority.

g. Other cases under the General Transaction Terms and Conditions and regulations of VPBank in accordance with laws and publicly announced on the official website and/or at Timo’s transaction points in each period

2. Termination at the request of Card holder

Customer shall have right to request to terminate use of Card when meeting fully regulations of the General Transaction Terms and Conditions and performing all financial obligations to VPBank prescribed by law. Method of request for termination of using Card is according to regulations of VPBank at the time that Customer desires to terminate use of Card.

3. Termination of using card at the request of Card holder shall be valid and accepted by VPBank only when Card holder fully performs obligations and responsibilities to VPBank as follows:

a. Termination of using Card, Card Account/Spend Account shall take into effect only when VPBank accepts and lock the Card in the system. Accordingly, when terminating use of Card, Card holder is obligated to pay VPBank all costs arising (if any) and financial obligations related to opening and use of Card.

b. Card holder must return blank card to VPBank and terminate use of card to pay transaction of sale and purchase of goods/service via internet, telephone and mail. Not including such termination, before card is returned to VPBank, any transaction performed with card or PIN (whether by Card holder or not) is still considered that Card holder performs such card transaction, Card holder must pay for all such arising transaction to VPBank.

c. In case Card holder fails to return blank card, Card holder must pay VPBank charge of card loss (if any) under regulations announced publicly by Bank.

d. Not depending on Card holder’s request about termination using Card, within 30 days from the date that Card holder requests to terminate use of card and/or the date that VPBank locks card, if card account of Card holder arises any transaction, Card holder must still pay for such transaction to VPBank. Such transactions are the transactions performed by Customer before requesting VPBank to terminate use of Card but payment obligations arise after the time of terminating use of Card.

Article 7. Investigating, handling claim during using Card

1. Method of receiving request of investigating, claim of Card holder

a. When desiring to investigate, claim Card transactions, Card holder might directly come to Timo’s transaction points or contact to Timo Care Call Center and Timo Application (if any) or via other methods deployed by VPBank in each period. In case Card holder requests to investigate, claim via Call Center of Timo, Card holder must be responsible to supplement request form of investigate, claim (according to form of VPBank) in the duration regulated by VPBank in each period. Card holder should fully comply with regulations, requirements and procedures of VPBank when investigating, claiming under provision of laws.

b. In case Card holder notices VPBank about suspicion of fraud or loss, in order to promptly limit possible loss, Card holder agrees VPBank to consider locking card. In case of locking card, VPBank shall notice Card holder to know and take responsibility for the whole financial loss for Card holder due to use of Card after locking Card.

2. Duration for VPBank to handle investigation, claim:

Depending on each type of Card, (in this case Card is issued BIN by State Bank of Vietnam) and type of Card transaction performed by Card holder (Card transaction in the system, interbank card transaction, payment transaction, cash withdrawal transaction at ATM, etc), VPBank shall settle and reply to Card holder’s requests of investigate, claim in the duration respectively to nature of each transaction on the basic of complying with the legal period of handling inspection, claim prescribed by laws. Duration to settle and reply request of investigate, claim shall be announced publicly by Timo.

3. Handling result of investigation, claim: Handling result of investigation, claim of Card holder shall be performed in the duration under regulations of laws and ensure the following rules:

a. In case of damage arising not due to Card holder’s fault and/or no event of force majeure under regulation of the General Transaction Terms and Conditions, maximally within 5 working days from the date of noticing result of investigation, claim to Card holder, VPBank shall compensate and refund to Card holder according to written agreement between VPBank and Customer. In case of damages arising due to relevant parties’ fault (Card payment organization, card switching organization, card support organization, card merchant acquiring, etc), faulty party shall compensate and refund to VPBank under agreement between parties in accordance with regulations of laws.

b. In case of damage arising due to Card holder’s fault: VPBank is not obligated to compensate and refund damage for Card holder.

c. In case the duration of handling request of investigation, claim under agreement in the General Transaction Terms and Conditions is over but it fails to determine the reason or which party causes fault, within 15 next working days, VPBank and Customer shall negotiate in writing plan of handling investigation, claim or negotiate about refunding temporarily to Card holder until competent authority’s conclusion clarifies fault and responsibility of parties.

d. In case there is any sign of crime, VPBank shall notice state competent authority under provisions of law on criminal procedure and report State Bank of Vietnam (Payment Department, state bank of local province, city); moreover, Card holder notice in writing about status of handling request of investigation, claim. Handling result of investigation, claim shall be performed by state competent authority. In case state competent authority notices that result of handling is no crime factor, within 15 working days from the date that state competent authority concludes, VPBank and Card holder shall negotiate plan of handling investigation, claim.

e. In case VPBank, Card holder and relevant parties fail to negotiate and/or agree with process of request of investigation, claim, dispute settlement shall be performed under regulations of laws.

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.

Article 9. Exchanging, providing information and Provisions of amendment, supplementation

1. Customer agrees to register to receive information, product, service, program, promotion, etc from VPBank and/or partners of VPBank. Timo shall notice Customer about amendments, supplementations, adjustments of other product, service policy of VPBank including amendments, supplementations, adjustments of VPBank for Service and programs, promotions, etc of VPBank and/or partners of VPBank by one of contact forms deployed by Timo in each period with unlimited quantity and time including but not limited to the form of sending written notice to Customer’s address, phone call, sending SMS to Customer’s phone number, sending email to Customer, notice on the official website of Timo.

2. Parties agree that the address, phone number and email of Customer stated in Clause 1 above is the address, phone number and email registered in Application Form by Customer. Customer shall be deemed to receive notice of Timo when Timo has noticed via the above forms to the address, phone number and email of Customer or noticed/listed at Timo’s transaction points or on the website of Timo. In case Customer changes the address, phone number and email, Customer must notice Timo in writing; if Customer fails to notice, Timo shall have right to notify to the old address, phone number and email and default that Customer has received the notice when Timo inform to such address, phone number and email and the content of the notice has value of binding Customer.

3. Unless otherwise regulated in the General Transaction Terms and Conditions, Customer shall be deemed to accept the whole content of amendment according to the notice of Timo if Customer keeps on using Service at VPBank after 01 day from the date of Timo’s notice. If Customer disagrees with the amended, adjusted content of VPBank, Customer shall be entitled to terminate to use Service before due date and not to pay charge of terminating use of Service before due date to VPBank.

4. VPBank is allowed to use the information about Customer, credits, account, transaction of Customer including the information from documents provided by Customer; contracts, documents signed between Customer and VPBank to provide to the agencies which have function of credit information provision and/or credit rating, operating legally in Vietnam, or provide competent authorities requiring information provision under regulations of laws or provide relevant partners during co-operating with VPBank to develop, provide products, services of VPBank.

5. All notices, requests of Customer must be submitted to VPBank in one of the following forms: In writing, via Timo Care Call Center or the nearest Timo’s transaction points Depending on each transaction required by Customer, after receiving notice of Customer in the above forms, VPBank may request Customer to complete relevant procedures to ensure to comply with regulations of laws.

Article 10. Governing Laws

1. The General Transaction Terms and Conditions are governed by applicable laws of Socialist Republic of Vietnam.

2. If any terms or conditions or any part or any clauses of the General Transaction Terms and Conditions is declared invalid or unable to be forced execution by state competent authority, such terms or conditions shall not make other terms and condition, parts or clauses of the General Transaction Terms and Conditions invalid.

3. The content not regulated in the General Transaction Terms and Conditions shall be performed according to regulations of VPBank’s product, service notified publicly and relevant provision of laws.

4. The disputes arising from or related to the Contract shall be negotiated to settle on the basic of cooperation, equality and mutual respect. In case Parties fails to negotiate or do not want to negotiate, one of Parties shall have right to submit to competent People’s Court to settle under regulations of laws. Parties agree that the address of Parties stated in Application Form is the address for the Court to determine the authorization to settle dispute under regulations of laws. In case Customer changes the address without noticing to Timo in writing, this means that Customer deliberately hide the address, avoid obligation and VPBank shall be entitled to request the Court to process and settle the case according to common procedures.

Article 11. Language

The General Transaction Terms and Conditions are prepared in Vietnamese.

Article 12. Validity

1. Regulations of the General Transaction Terms and Conditions shall enter into effect from the applied date stated the first part of the General Transaction Terms and Conditions. The terms and conditions of the General Transaction Terms and Conditions shall be applied for all Timo Debit Card transactions performed by Individual Customer of Timo from the effective date of the General Transaction Terms and Conditions (including Customers who issued Timo Debit Card previously).

2. Customer acknowledges to have read, understood clearly and commits strictly performing the Service Terms and Conditions in the General Transaction Terms and Conditions, other regulations of VPBank related to Service and relevant applicable regulations of Vietnamese laws.

GENERAL TRANSACTION TERMS AND CONDITIONS ABOUT OPENING AND USE OF TIMO SPEND ACCOUNT

The content of General Transaction Terms and Conditions about opening and use of Timo Spend Account and Application Form cum Contract for opening and use of Spend Account, issuance and use of debit card, E-banking service signed by Customer create a complete Contract for opening and use of Spend Account (“Contract”) between Vietnam Prosperity Joint Stock Commercial Bank and Customer.

By selecting to use Service and signing Application Form for Membership cum Contract for opening and use of Spend Account, issuance and use of debit card, e-banking service, VPBank and Customer hereby undertake to comply with the following Terms and Conditions:

Article 1. Definitions

1. “VPBank/Bank”: is Vietnam Prosperity Joint Stock Commercial Bank. VPBank includes Branches, Transaction Offices and other sale channels of Vietnam Prosperity Joint Stock Commercial Bank.

2. “Timo Channel/Timo”: is the sale channels for e-banking services of VPBank, which allow Customer to perform banking transactions after being identified, open spend account and register e-banking services in accordance with regulations.

3. “Service”: is the service of Spend Account provided to Customer by VPBank.

4. “Customer/Member”: is the individual customer subject to Timo, whose information is specified in Application Form for Membership cum Contract for opening and use of Spend Account, issuance and use of debit card, e-banking service.

5. “Application Form”: is Application Form for Membership cum Contract for opening and use of Spend Account, issuance and use of debit card, e-banking service signed by Customer.

6. “Contract”: is Application Form for Membership cum Contract for opening and use of Spend Account, issuance and use of debit card, e-banking service signed between Customer and VPBank including General Transaction Terms and Conditions.

7. “Account/Spend Account”: is Timo Spend Account opened to Customer by VPBank on the basic of Contract.

8. “General Transaction Terms and Conditions about opening and use of Timo Spend Account/ General Transaction Terms and Conditions about opening and use of spend account/Terms and Conditions about use of spend account” (Hereinafter called as “General Transaction Terms and Conditions”): is the fixed terms notified by VPBank in each period to apply for individual customer opening and using Timo Spend Account at VPBank. General Transaction Terms and Conditions are publicly announced by Timo under regulations of laws. If Customer signs Application Form, Customer shall be deemed to accept this General Transaction Terms and Conditions.

9. “Timo Application/ Application”: is the Timo software program which allows Customer to perform financial transactions provided by VPBank on Smartphone or internet browsers.

10. Other capitalized terms not explained in this General Transaction Terms and Conditions shall be construed and interpreted according to the respective contents in Application Form, products, services participated in by Customer in order to ensure to comply with relevant provisions of laws.

Article 2. Rights and obligations of Customer

1. Rights of Customer

a. Use the amount in spend account to perform legal, duly payment orders.

b. Select to use payment instruments, services and payment utilities provided by VPBank in accordance with requirement, ability and regulations of laws.

c. Authorize other to use spend account under regulations of Bank.

d. Use Spend account to pay, withdraw cash and request VPBank to perform payment orders arising legally and validly within Debit balance and overdraft limit (if allowed).

e. Request VPBank to provide information about payment transaction and balance of their spend account.

f. Request VPBank to close, temporarily lock or change method of using spend account if necessary on the basic of complying with provisions of laws and relevant regulations

g. Send notice to VPBank about any dispute of common spend account arising between common spend account holders (if any).

h. Participate in preferential programs for Customer opening Spend account under regulations of VPBank.

i. Receive interest rate on the amount in Spend account according to interest rate stipulated by VPBank, depending on characteristics of Account, balance of Account and in accordance with interest rate management regime of State Bank of Vietnam in each period.

j. Other rights under the General Transaction Terms and Conditions and provisions of laws.

2. Obligations of Customer

a. Keep track of the balance in their spend account; compare with Debit advice, Credit advice or notice of balance account sent by Bank if Customer registers to us services of balance account notice at Bank.

b. Promptly notify VPBank if Customer finds out any mistake, inaccuracy of their account or suspects that their account has been misused. Notices, claims, request of investigation related to Account and Account transaction are performed in the duration as regulated in Article 8 of the General Transaction Terms and Conditions. After this duration, if Customer fails to notify VPBank, Customer shall take full responsibility, bear all damages arising and agree to accept all possible consequence.

c. Refund or co-operate with VPBank to refund the amount Credited in their spend account due to mistake, inaccuracies.

d. Provide fully, clearly, exactly all information related to opening and use of spend account as well as other information at the request of VPBank in each period. Promptly notify and submit to Timo relevant documents in case there is any change of the registered information when requesting to use service or during using service. In case of no notification, if there is any risk, damage arising, Customer shall take full responsibility for mistake or misusing, cheating when using service due to their fault or not fully, rightly, exactly, promptly provide any change of information; commit bearing all risks including financial damage, costs arising due to providing wrong or inconsistent information.

e. Not allowed to use account to perform transactions on such purposes such as: money laundering, terrorism financing, cheating, fraud and other law violations. Take responsibility before Bank and laws about money laundering, terrorism financing, fraud, counterfeiting, and other law violations of Customer and Account transactions related to money laundering, terrorism financing, fraud, counterfeiting, and other law violations.

f. Fully conceive and commit bearing risks in case payment transaction, remittance of Customer are confiscated, sealed, suspended by any competent organization or authority in any country or any international organization (due to regarding factors such as embargoing/punishment, crimes, terrorism, terrorism financing, money laundering, objects applied court order, authority at foreign country or other reason under notice of the above authority/organization).

g. Register the specimen signature used in transaction documents performed at Timo’s transaction points.

h. Pay to VPBank all charges regarding opening and use of account, account management, issuance of debit card, use of e-banking service in accordance with regulations of VPBank in each period and provisions of laws. The schedule of charges shall be notified publicly on the website of Timo and Timo Application by VPBank.

i. Ensure enough money in the account to perform prepared payment order. In case of overdraft agreement with VPBank, Customer shall perform relevant obligations when their payment excesses Credit balance in the account.

j. Maintain the minimum balance in spend account under regulations of VPBank.

k. Take responsibility for mistake or misusing, cheating when using payment service via account due to their fault.

l. Comply with guidance of VPBank about preparing payment order and using payment instruments, performing payment transaction via account; using, transferring, filing transaction documents; ensuring safety solutions in payment stipulated by VPBank.

m. Not lease, lend their account, or use their account to perform payment transactions for the amount that is proved about illegal origin.

n. Comply with all terms and conditions in the General Transaction Terms and Conditions and other provisions of laws related to opening and use of Spend account.

o. Other obligations under the General Transaction Terms and Conditions and provisions of laws.

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.

Article 4. Handling in case Account of Customer arises no transaction regularly

1. Based on active frequency of Account, the status of Customer’s Account shall be divided into: Active, Sleep, Inactive or other status under regulations of VPBank in each period. Condition, form and other matters related to the status of Customer’s Account shall be publicly noticed on the official website and/or transaction places of VPBank in each period.

2. VPBank is entitled to collect charges to manage, maintain Customer’s Account according to the schedule of charge and rule of charge collection regulated by VPBank in each period. The schedule of charge shall be publicly noticed on the website of Timo and/or Timo Application in each period.

3. VPBank has right to freely close Customer’s Account when Customer’s Account does not meet the conditions under regulations about management of Spend Account Status stipulated by VPBank and noticed publicly on the website of Timo and/or Timo Application in each period.

4. Timo is obligated to notify Customer when transferring the status of account, closing Customer’s Account under agreement in this Article. Depending decision of Timo at the time of notification, Timo may notify Customer in one or some of the following forms: public notice on the website of Timo and/or Timo Application notice via email and/or message to address, phone number registered by Customer at VPBank and/or other forms registered by Customer and accepted by VPBank in each period, complying with regulations of laws.

Article 5. Interest and Fee regarding opening and use of Spend Account

1. Interest: The balance in Spend Account of Customer (with the condition that the balance is larger than the Minimum Balance under regulation of VPBank) is entitled to receive non-term deposit interest rate. The non-term deposit interest rate shall be fixed, announced and listed publicly by VPBank on the website of Timo and/or Timo Application in each period. The interest rate may be adjusted on the basic of market and on the principle of not exceeding the maximum non-term deposit interest rate under regulations of State Bank of Vietnam in each period. At the time of adjusting interest rate, Timo shall send a notice to Customer in the forms regulated in the General Transaction Terms and Conditions. In case the deposit balance in Spend Account of Customer is temporarily locked, blocked or deposited for certain purposed, applied interest rate shall be performed under regulations of VPBank or agreement between VPBank and Customer (if any).

2. Method of calculating non-term depostion interest

a. Factor of calculating interest:

(i) Duration of calculating interest: is determined from the day that VPBank receive the deposit to the close of the day before the day that VPBank pays fully the deposit (including the first day, excluding the final day of duration of calculating interest). The time to determine the balance to calculate interest is at the end of each day in the duration of

(ii) Actual balance: is the daily closing balance of the deposit balance that VPBank must pay to Customer, used to calculate under agreement in Contract.

(iii) Number of days to maintain actual balance: is the number of days that the actual balance at the end of each day unchanged.

(iv) Interest rate of calculating interest is on the basic of percentage (%)/year (annual interest rate); one year is three hundred sixty five days.

b. Formula of calculating interest: For each deposit, the interest shall be calculated according to the following formula:

Interest amount =	∑ (Actual balance x Number of days to maintain actual balance x Interest rate of calculating interest)
	365

c. For each deposit, in case the duration from the day when VPBank receives the deposit to the day when Customer withdraw the deposit is under one day, Parties agree that Duration of calculating interest and Number of days to maintain actual balance is determined 01 (one) days, Actual balance to calculate interest is the balance at the end of day in Duration of calculating interest. To clarify, Parties agree that in case Customer deposits then withdraws in the same working day, there shall be no interest to paid to Customer.

d. Converting interest rate

Parties agree that the interest rate of calculating interest stated in Clause 1 of this Article shall be equal to the respective annual interest rates according the method of calculating interest using Duration of calculating interest determined from the next day of the day receiving the deposit to the close of the day paying fully the deposit (excluding the first day, including the final day) and the balance to calculate interest is the balance at the beginning day of calculating interest. To clarify, converting interest rate under this Point d is intended to make clear interest rate, not to apply to calculate interest according to the method of calculating regulated in Clause 2 of this Article.

3. Customer shall be responsible to pay to VPBank fees in Schedule of fees for account service of Timo in accordance with laws, including the following fees:

a. Fees related to opening and use, management of Account according to regulations of VPBank in each period.

b. Fee of transaction statement issuance: is the fee that Customer must pay when requesting VPBank to issue statement of transaction(s).

c. Fee of confirmation for account balance: is the fee that Customer must pay when requesting VPBank to confirm the balance in Spend Account.

d. Other fees in accordance with regulations of laws and specified at Schedule of fees for account service of VPBank.

4. In case Schedule of fees for account service changes, VPBank shall list publicly on the website of Timo and/or Timo Application. The new schedule shall be applied from the date of Timo’s notice.

Article 6. Providing and noticing information about Spend Account

1. Customer shall have right to request to provide the information about Account balance, transactions arising on Account and other necessary information related to use of Account during using Account. Customer may submit a request of providing information directly to Timo’s transaction points or via Timo Care Call Center according to phone number: (+8428) 7300 8466 (overseas) /1800 6788 (Fee Free) /other number under notice of Timo or via other forms deployed by Timo in each period. Customer is obligated to comply with regulations, requirement and pay all fees, etc of VPBank when requesting VPBank to provide information. When receiving reasonable request of Customer, Timo shall provide Customer with information in accordance with regulations of laws. Provision of information shall be performed in the forms agreed by Customer and Timo at the time of Customer’s request in accordance with laws by Timo.

2. In case Customer and VPBank sign agreements, contracts (banking service contract via internet, phone, email, etc), including agreement of account balance notice service, transactions of account, etc, notification shall be performed by Timo under agreement, contract signed with Customer.

3. In case VPBank blocks Account, Timo shall notice Customer about blocking, the form of notice in case of blocking shall performed by VPBank in accordance with agreement between Timo and Customer about exchanging, providing information in the General Transaction Terms and Conditions.

Article 7. Safety and security assurance during using Account

1. To ensure safety and security in use of Account, Customer must be responsible to:

a. Protect the information about Customer’s Account, not transfer Customer’s Account to the third party unless required by state competent authority and/or regulated specifically in Contract.

b. Not allow other to use Account, not transfer Account to other, pledge/mortgage Account to any organization, individual.

c. Comply with guidance, transaction process of VPBank when performing Account transaction. Customer must sign in accordance with the specimen signature at VPBank when performing Account transaction required Customer’s signature. Customer agrees that to ensure safety for asset and transaction of Customer, Customer shall request VPBank to perform necessary measure of verification and/or temporarily lock, refuse transaction when VPBank finds out the Customer’s signature on transaction document does not match the specimen signature registered at VPBank.

d. In case Customer performs transaction via Card connected with Account or via electronic instruments, depending on each transaction, service performed by Customer, Customer shall require to use one or some of security factor respectively with customer verification method that such transaction, service requires including but not limited to information of account number, name of account holder, telephone, email registered by Customer at VPBank. Customer must be responsible to protect the above security factors, as well as take appropriate measures to prevent illegal use of such above security factors. Customer shall take responsibility for damage due disclosed, stolen, misused, etc security factors.

e. Customer shall take responsibility to preserve electronic devices used to connect to the system of VPBank and perform account transactions (computer, telephone, etc), Customer should not leave such devices that Customer uses for transaction in any time or allow any other person to use such devices until Customer signs out the system, transaction interface.

f. Notice and co-operate promptly with VPBank to handle the matters related to safety and security assurance of Account during using Account. To ensure safety of asset and transaction of Customer, Customer requests VPBank to perform reasonable measures such as temporarily locking Account, refusing account transaction when security factors of Customer are checked and replied inaccuracy after some certain accesses by the system.

g. Comply with other obligations, responsibilities under regulations of law on safety assurance and information security during using Account.

2. To ensure safety and security in use of Account, VPBank must be responsible to:

a. Perform measures of safety assurance, risk prevention for account transaction under rules, regulations of laws

b. Secure the information related to account activity in accordance with the General Transaction Terms and Conditions and provisions of laws.

c. Comply with other obligations, responsibilities under regulations of law on safety assurance and information security during using Account.

3. When the information about Account, about security factors of Account are disclosed, misused, Customer must promptly inform Timo via phone number (+8428) 7300 8466 (overseas) /1800 6788 (fee free) /other number under notice of Timo in each period or the nearest Timo’s transaction points. Customer requests VPBank to temporarily lock Account immediately when receiving notice of Customer or apply other measures of risk prevention and co-operate with relevant parties to perform other necessary professional measures to prevent possible damages.

Article 8. Investigating, handling claim when using Account

1. Method of receiving request of investigating, claim of Customer

a. When Customer wishes to investigate, claim Account transaction, Customer shall directly request on Timo Application, come to Timo’s transaction places or contact to VPBank via Timo Care according to phone number: (+8428) 7300 8466 (overseas) /1800 6788 (fee free) /other number under notice of Timo or via other forms deployed and noticed to Customer by Timo in each period. In case Customer requests to investigate, claim via Timo Care Call Center, Customer must be responsible to supplement request form of investigate, claim (according to form of VPBank) in the duration regulated by VPBank in each period. Customer should fully comply with regulations, requirements and procedures of VPBank when investigating, claiming under provision of laws. In case Customer authorizes the other person to request to investigate, claim, Customer must perform according to regulations of VPBank and law on authorization.

b. Customer is entitled to investigate, claim within 60 days from the date of investigation, claim request.

2. Duration for VPBank to handle investigation, claim: Maximum within 30 days from the date of receiving the first request of investigation, claim, VPBank shall handle Customer’s request of investigation, claim.

3. Handling result of investigation, claim: Handling result of investigation, claim of Customer shall be performed in the duration under regulations of laws and ensure the following rules:

b. In case of damage arising due to Card holder’s fault: VPBank is not obligated to compensate and refund damage for Customer.

d. In case there is any sign of crime, VPBank shall notice state competent authority under provisions of law on criminal procedure and report State Bank of Vietnam (Payment Department, Banking inspection authority, state bank of local province, city); moreover, notice in writing Customer about status of handling request of investigation, claim. Handling result of investigation, claim shall be performed by state competent authority. In case state competent authority notice that result of handling is no crime factor, within 15 working days from the date that state competent authority concludes VPBank and Customer shall negotiate plan of handling investigation, claim.

e. In case VPBank, Customer and relevant parties fails to negotiate and/or agree with process of request of investigation, claim, dispute settlement shall be performed under regulations of laws.

Article 9. Handling remaining balance after closing Account

1. Handling remaining balance after closing Account: The remaining balance (the amount) after closing Account shall be used to pay for due financial obligations of Customer at VPBank, the remaining amount not fully used has VPBank (i) paid at the request of Customer ; (ii) guardian, legal representative of Customer in case Customer (account holder) is under 15 years old, limited civil capacity, lost civil capacity, difficult in awareness, controlling behavior; or (iii) inheritor, inheriting representative in case Customer dies, is stated to die; or (iv) paid under decision of Court. Depending on request of VPBank, Customer/legal beneficiary of the balance in Account must sign relevant documents when receiving the amount.

2. In case Customer, legal beneficiary of balance in Account have been noticed but not received, the whole balance after closing Account (if any) shall be managed by VPBank and not receive interest or handled under regulations of laws in each period.

Article 10. Exchanging, providing information and Provisions of amendment, supplementation

2. Parties agree that the address, phone number and email of Customer stated in Clause 1 above is the address, phone number and email registered in Application Form by Customer. Customer shall be deemed to receive notice of Timo when Timo has noticed via the above forms to the address, phone number and email of Customer or noticed/listed at business place serving Timo Customer or on the website of Timo. In case Customer changes the address, phone number and email, Customer must notice Timo in writing; if Customer fails to notice, Timo shall have right to notify to the old address, phone number and email and default that Customer has received the notice when Timo inform to such address, phone number and email and the content of the notice has value of binding Customer.

5. All notices, requests of Customer must be submitted to Timo in one of the following forms: In writing, via Timo Care Call Center according to phone number (+8428) 7300 8466 (overseas) /1800 6788 (Toll free) /other number under notice of Timo in each period or the nearest Timo’s transaction places. Depending on each transaction required by Customer, after receiving notice of Customer in the above forms, VPBank may request Customer to complete relevant procedures to ensure to comply with regulations of laws.

Article 11. Governing Laws

1. The General Transaction Terms and Conditions are governed by applicable laws of Socialist Republic of Vietnam.

Article 12. Language

The General Transaction Terms and Conditions are prepared in Vietnamese.

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