Internet, E-mail, Fax and Telephone AGREEMENT

TERMS AND CONDITIONS

For Internet, E-mail, Fax and Telephone Channels

You agree that your use of any FirstCaribbean International Bank electronic banking channel will be in accordance with the following Terms and Conditions of these Internet, E-mail, Fax and Telephone Agreement (the “Agreement”) and that your use of any FirstCaribbean International Bank electronic banking channel signifies both your acknowledgement and acceptance of the terms and conditions below. YOU AGREE TO BE BOUND BY THE TERMS AND CONDITIONS OF THIS AGREEMENT.

In this Agreement, “you” means the individual agreeing to this Agreement or the corporation, partnership, association, sole ownership or other legal entity on behalf of whom the individual is agreeing to this Agreement; the term “Communications” means any instructions or information from, or purporting to be from, you or your e-mail address.

In exchange for FirstCaribbean International Bank (Barbados) Limited or FirstCaribbean International Wealth Management Bank (Barbados) Limited or FirstCaribbean International Finance Corporation (Leeward and Windward) Limited or FirstCaribbean International Bank (Bahamas) Limited or FirstCaribbean International Bank (Cayman) Limited or FirstCaribbean International Finance Corporation (Netherlands Antilles) N.V. or FirstCaribbean International Bank (Curacao) N.V. or FirstCaribbean International Bank (Jamaica) Limited or FirstCaribbean International Bank (Trinidad & Tobago) Limited or and such other subsidiaries or affiliates of FirstCaribbean International Bank Limited as may from time to time hereafter come into existence and any successors or assignees of these companies (each known as “FirstCaribbean International Bank”) agreeing to accept instructions in accordance with this Agreement, you agree to the terms and conditions of this “Agreement”.

THIS AGREEMENT DOES NOT SUPERCEDE OR AMEND ANY OTHER AGREEMENT THAT YOU HAVE WITH FIRSTCARIBBEAN INTERNATIONAL BANK. YOU WILL CONTINUE TO BE BOUND BY EACH SUCH AGREEMENT. THIS AGREEMENT SOLELY RELATES TO YOUR USE OF THE TRANSFER SERVICE.

1. Instructions and Authorized Methods of Instructions.

Any reference in this Agreement to “instructions” or “your instructions” refers to any instructions received from you through any means whatsoever, including mobile banking, e-mail, telephone or fax instructions.

You authorize FirstCaribbean International Bank to accept any method of instructions from you:

1. to provide account and transaction information;
2. to transfer funds between your accounts;
3. to transfer funds from any account in your name to any individual, firm or corporation;
4. to deal in any manner with stocks, bonds or other types of securities held in or to be purchased for your account;
5. to issue stop payment orders;
6. relating to foreign exchange transactions; or
7. relating to transactions in connection with any existing credit arrangement between FirstCaribbean International Bank and you.

You understand that FirstCaribbean International Bank reserves the right to first obtain verbal or written confirmation before executing any such instructions.

FirstCaribbean International Bank may act on instructions and information from, or purporting to be from, you as if you had given FirstCaribbean International Bank such instructions or information in writing, until FirstCaribbean International Bank has received written notice to the contrary.

2. Use of e-mail.

If you use e-mail to communicate with FirstCaribbean International Bank, you authorize FirstCaribbean International Bank to reply to you by e-mail. This includes sending your confidential information to you at your request. If you are an individual, FirstCaribbean International Bank will not be required to act on instructions or communications sent by e-mail unless they are sent from an e-mail address that you have designated for e-mail communications. If you are a corporation, partnership, or unincorporated association or other legal entity, FirstCaribbean International Bank will not be required to act on any instructions or communications sent by e-mail unless they are sent from an e-mail address that you have designated for e-mail communications and that bears both your name (company name) as well as the name of your authorized signatory (individual name).

3. Passwords.

You will need a username and password, or other FirstCaribbean International Bank approved security and authentication controls, to access your accounts and any services FirstCaribbean International Bank offers through electronic channels. You may also have to answer personal verification questions when accessing your accounts or services through these electronic channels.

You agree to keep your password and the personal verification questions confidential. You will not disclose your password or the personal verification questions to others (including to individuals close to you such as family members, or to bank representatives or public officials). You must carefully select your password and personal verification questions such that they cannot be easily guessed or reverse engineered by others.

FirstCaribbean International Bank may set standards for your username and password.

FirstCaribbean International Bank recommends that you change your password regularly, and select a unique username and password combination for use only with each account you have, or service you receive from, FirstCaribbean International Bank.

You understand that if you have enabled touch identification or any other biometric fingerprinting recognition feature as your password to log on to any FirstCaribbean International Bank electronic banking channel, any fingerprint stored on your cellular phone or other electronic device will be able to access any of those electronic banking channels. You agree that you will not be able to assign or restrict which fingerprint(s) stored on your device can access any of FirstCaribbean International Bank’s electronic banking channels.

You are responsible for any losses whatsoever that result from your own use of your password or personal verification questions as well as any use of same by a third party. You must notify FirstCaribbean International Bank immediately if you believe that: 

• your password may have been lost or stolen or otherwise compromised, or
• your mobile device you use to access your accounts at, or services offered through, FirstCaribbean International Bank has been lost, stolen or compromised.

4. Risks of using mobile devices and e-mail.

You understand that mobile devices and e-mail are not secure means of communication and that FirstCaribbean International Bank does not use encryption or digital signatures for incoming or outgoing e-mail. You also understand that FirstCaribbean International Bank recommends that customers do not share confidential information with anyone via the use of a mobile device or e-mail or share their Internet access or share their passwords with others. If you nonetheless choose to do so, you assume full responsibility for the risks of doing so. These risks include the possibility that:

• someone could intercept, read, transmit, retransmit or alter your messages and/or instructions;
• e-mail messages could be lost, delivered late, or not received;
• computer viruses could be spread by e-mail causing damage to computers, software or data, and FirstCaribbean International Bank therefore recommends that all customers use up-to-date virus-checking software; and
• someone could access your account and perform transactions using your account.

5. Confirmation of telephone and e-mail instructions.

You acknowledge that FirstCaribbean International Bank may request that you provide confirmation of telephone and e-mail instructions to FirstCaribbean International Bank on the day that they are given by mailing to the FirstCaribbean International Bank office a written confirmation signed by you. FirstCaribbean International Bank may, but need not, notify you of any discrepancy between the instructions as understood by it and the written confirmation from you, provided that the failure to so notify you will not amount to negligence, gross negligence or willful misconduct or breach of any other duty or obligation.

6. Validity of Communications.

All your Communications that FirstCaribbean International Bank accepts and acts upon will be considered to be valid and authentic. This will be the case even if, among other things, they did not come from you, were not properly understood by FirstCaribbean International Bank (except for FirstCaribbean International Bank’s gross negligence or willful misconduct) or were different from any of your previous or later Communications.

7. Doubts as to your Communications.

FirstCaribbean International Bank does not have to act upon any of your Communications if it is unsure whether they are accurate or are really from you or if FirstCaribbean International Bank does not understand them.

8. FirstCaribbean International Bank’s liability.

FirstCaribbean International Bank will not be responsible for any losses, costs, damages, demands or expenses that you may incur due to FirstCaribbean International Bank’s acting or failing to act upon your Communications (except for FirstCaribbean International Bank’s gross negligence or willful misconduct). In the event of FirstCaribbean International Bank’s gross negligence or willful misconduct, FirstCaribbean’s liability will be limited to the amount involved in your Communication. FirstCaribbean International Bank will not in any event be liable for any special, incidental, consequential, exemplary, punitive or indirect damages, or for loss of profit.

In addition, FirstCaribbean International Bank will in no event be liable for any losses, costs, damages, demands or expenses resulting from your failure to comply with any of your obligations under this Agreement.

9. Indemnity clause.

You will indemnify and save FirstCaribbean International Bank harmless from any claims, damages, demands and expenses that FirstCaribbean International Bank incurs (other than due to its own gross negligence or willful misconduct), including among other things all legal fees and expenses, arising from FirstCaribbean International Bank acting, or declining to act, on any of your Communications given under this Agreement, and any breach by you of any of the terms or conditions of this Agreement. This indemnity is in addition to any other indemnity or assurance against loss provided by you to FirstCaribbean International Bank.

10. Corporations, Partnerships and Associations.

If you are a corporation, partnership or association, FirstCaribbean International Bank may only accept your Communications when they are from, or purport to be from, your signing officer(s) who is/are authorized to sign in accordance with your General Banking Resolution or Resolution-Re: Banking and Security, signing authorities and the terms of this Agreement. If you are a corporation, you confirm that you have obtained the approval of your board of directors or shareholders, as applicable; to enter into this Agreement and your will provide FirstCaribbean International Bank an appropriately signed resolution to this effect from your board of directors.

11. Storing information.

FirstCaribbean International Bank may record and store all information relating to your account in such form and by such means as FirstCaribbean International Bank sees fit. You acknowledge that FirstCaribbean International Bank is not required to retain or return original items (other than to retain and return to you the items normally returned in accordance with FirstCaribbean International Bank’s general practice) or to provide you with copies of any account statements, items or other documents. You understand that FirstCaribbean International Bank may, in its discretion and subject to availability, provide you with copies of account statements, items or other documents at your request.

If you request copies of any items or other documents and the originals have been transferred to some other storage medium and destroyed, you will accept copies made from that storage medium. You acknowledge that FirstCaribbean International Bank is not required to produce copies of any items or other documents if neither the originals nor any copies exist at the time your request is processed. You will pay FirstCaribbean International Bank its applicable charges for any searches you request. You acknowledge that FirstCaribbean International Bank may, however, require you to pay part of such search fees in advance.

12. Consent.

You understand that FirstCaribbean International Bank protects all of your Information but there are instances where FirstCaribbean International Bank will need to provide Information to third parties and FirstCaribbean International Bank requires your consent in order to do so.

You hereby consent to the collection, use, disclosure, transfer and sharing by FirstCaribbean International Bank (including its parent, CIBC, subsidiaries, related entities or affiliates or their respective successors and assigns) (the “Bank Group”) of Information about you collected during the course of your relationship with FirstCaribbean International Bank with any member or members of the Bank Group, in whichever country such member conducts business. You also consent to FirstCaribbean International Bank collecting, using, disclosing, transferring and sharing Information about you with any domestic or foreign: (a) governmental, regulatory (including bank regulators), tax, judicial, law enforcement, administrative or self-regulatory authorities, agencies or departments (b) financial institutions (including correspondent or intermediary banks) (c) entities providing outsourcing services to FirstCaribbean International Bank (d) credit bureaus or similar reporting agencies, or (e) authorities, agencies, departments or other parties as may reasonably be required for the purposes of (i) identifying you or anyone acting on your behalf; (ii) qualifying and providing you with products and services; (iii) processing your transactions; (iv) verifying Information you may provide; (v) managing FirstCaribbean International Bank’s or the Bank Group’s business; (vi) protecting you, FirstCaribbean International Bank or the Bank Group from error and illegal activity; (vii) facilitating domestic or foreign tax, regulatory or other reporting; (viii) contemplating or entering into business transactions such as selling or securitizing assets; (ix) complying with legal or regulatory obligations including responding to requests made pursuant to applicable treaties; or (x) informing you about other products or services.

FirstCaribbean International Bank will only be liable for direct damages resulting from FirstCaribbean International Bank’s negligent acts or omissions arising from the performance of its obligations under this Agreement.

For the purposes of this clause, “Information” means any information or data in any form, including paper, electronic, video or voice recording, and includes (but is not limited to) personal information (such as name, address, contact details, age, marital status, education, employment history, identification numbers, financial information and credit records) or any information or record either (a) related to any product or service provided by the Bank Group to you or an account over which you have signing authority or a legal or beneficial interest or ownership or (b) to transactions (including those between you and FirstCaribbean International Bank) in respect of these products or services.

13. Money Laundering.

Money laundering legislation requires that FirstCaribbean International Bank verify the source of funds before accepting deposits or processing transactions and must report suspicious transactions to the relevant authorities. You hereby provide consent to FirstCaribbean International Bank to disclose this information to money laundering prevention and control officers within FirstCaribbean International Bank, for the purpose of ensuring FirstCaribbean International Bank complies with money laundering legislation. You will indemnify FirstCaribbean International Bank for its out of pocket expenses, including reasonable legal fees and court costs for any investigation or potential investigation under applicable money laundering legislation regarding your account, including but not limited to seeking direction from a court of competent jurisdiction on FirstCaribbean International Bank’s rights and obligations in such matters.

14. Authorization.

You understand that by entering into this Agreement you authorize FirstCaribbean International Bank to accept and irrevocably honor any and all instructions set out in Section 1 of this Agreement.

15. Intellectual Property and Technology.

You can use the services that FirstCaribbean International Bank offers through its electronic banking channels but FirstCaribbean International Bank will own all intellectual property rights relating to them. FirstCaribbean International Bank owns and will own all trademarks, logos, works (including texts, images, illustrations, software, codes, audio clips and video) appearing on any of FirstCaribbean International Bank’s electronic channels. This includes all intellectual property rights subsisting in each web page offered by FirstCaribbean International Bank. You cannot reproduce, republish, download, post, transmit, distribute, modify or reverse engineer, in whole or in part, in any form whatsoever, any of the foregoing without FirstCaribbean International Bank’s express written consent.

To use any of the electronic banking channels offered by FirstCaribbean International Bank, you must obtain and maintain, at your expense, any required hardware, mobile device, operating system and software required for such use.

You must also implement and maintain reasonable security measures for your hardware and devices, such as virus scanning software and a firewall system and keep them up-to-date.

15. Accessing FirstCaribbean International Bank electronic banking channel.

You acknowledge and agree that while you may access FirstCaribbean International Bank’s electronic banking channels from other jurisdictions outside of the jurisdiction in which this Agreement was made, some aspects of those banking channels may not be available to you in those other jurisdictions. If you access FirstCaribbean International Bank’s electronic banking channels from outside the jurisdiction in which this Agreement was made, you do so at your own risk, and bear all responsibility and liability for compliance with any local, provincial, national and international laws applicable.

17. Suspicious Activity and Cooperation

You will notify us immediately if you become aware of any unusual, unauthorized, suspicious or fraudulent activity in any of your accounts with FirstCaribbean International Bank.

You must cooperate and assist in any investigation that we initiate into any such activity, and such cooperation may include filing a report with law enforcement authorities.

18. Online Statements.

“Online Statements” means the statements for each of your accounts or credit cards accessible to you through Internet Banking.

“Internet Banking” means FirstCaribbean International Bank’s banking services available by internet.

This clause governs your relationship with FirstCaribbean International Bank in relation to your access to Online Statements.

1. Cessation of printed statements. By registering for Internet Banking, you understand and agree that FirstCaribbean International Bank will not mail or otherwise deliver printed statements, unless FirstCaribbean International Bank in its sole discretion deems it appropriate to do so.
2. Accessing of your Online Statements. You agree to examine each of your Online Statements at least once every 30 days. You agree to notify FirstCaribbean International Bank of any errors, omissions or irregularities or suspicious or irregular activity in writing within 30 days after the date on which the relevant entry was posted to your account. You acknowledge that your banking activity that occurred prior to your Internet Banking registration will not appear in your Online Statements.
3. Failure to Notify FirstCaribbean International Bank. If you fail to notify FirstCaribbean International Bank of an error, omission or irregularity in any of your Online Statements in writing and within the time period in clause 18(b) above, then you agree that:
   1. all entries and balances are correct;
   2. all instruments paid from your account are genuine, duly authorised and properly signed;
   3. all amounts charged to your account are properly chargeable to you;
   4. you are not entitled to be credited with any amount that is not shown in the Online Statements; and
   5. you release FirstCaribbean International Bank from all claims in connection with the relevant account or credit card.

You will be bound by clauses 18(b) and 18(c) of this Agreement even if you do not review your Online Statements at least once every 30 days.

In the event of any conflict between the provisions in this clause and provisions contained in any agreement in relation to FirstCaribbean International Bank’s obligation to mail or send you statements, then the provisions of this clause 18 will prevail.

19. Wire Transfers.

In sending wire transfers via Internet Banking, you agree:

1. FirstCaribbean International Bank will not be liable to me under any circumstances for any loss, injury or damage as a result of FirstCaribbean International Bank acting on your instructions, or instructions purporting to be from you (including any direct, indirect, consequential, exemplary, incidental, punitive or special damages arising from any cause of action, including fraud).
2. to indemnify FirstCaribbean International Bank and keep FirstCaribbean International Bank indemnified at all times and hold FirstCaribbean International Bank harmless from and against any and all claims and demands, actions and proceedings, damages, (whether direct, indirect, consequential, exemplary, incidental, punitive or special damages even if you have been advised of the possibility of such damages in advance), losses, costs and expenses, including but not limited to all legal costs, of whatsoever nature and howsoever suffered or incurred by FirstCaribbean International Bank arising out of or in connection with FirstCaribbean International Bank acting on your instructions, or instructions purporting to be from you.

20. Modified Devices (e.g., Rooted or Jail Broken Phones)

You must not use any of FirstCaribbean International Bank’s electronic banking channels on any device or operating system that has been modified outside the hardware or software vendor supported or warranted configurations (herein referred to as a “Modified Device”). For clarity, a Modified Device includes a mobile device that has had its security mechanism bypassed or has been "jail-broken", "rooted” or otherwise freed from the limitations imposed on it by your mobile service provider, the manufacturer of the mobile device or the licensor of your operating system, without the approval of the mobile service provider, the manufacturer of the mobile device, or the licensor of your operating system, respectively.

When you enroll to use any of FirstCaribbean International Bank’s electronic banking channels or when you permit others to whom you have delegated to act on your behalf to use or access any of FirstCaribbean International Bank’s electronic banking channels, you represent and warrant to FirstCaribbean International Bank each time such channel is used that the device you are using in connection with the electronic banking channel being accessed is not a Modified Device. Accordingly, you acknowledge that if you use a Modified Device, it will be a default by you of the terms and conditions contained in this Agreement and as a result, FirstCaribbean International Bank may choose in its sole discretion to terminate this Agreement and any services provided in connection with this Agreement.

You acknowledge and understand that the use of FirstCaribbean International Bank’s electronic banking channels on a Modified Device may compromise the security of your device and facilitate or lead to fraudulent transactions. You further acknowledge that your use of FirstCaribbean International Bank’s electronic banking channels (including but not limited to the use and downloading of FirstCaribbean International Bank’s mobile app) on a Modified Device is done entirely at your own risk and you agree that you will be solely liable, and will indemnify FirstCaribbean Internal Bank, for any losses, damages, costs and expenses whatsoever (including but not limited to legal costs) incurred by you, FirstCaribbean Internal Bank or any third-party resulting from your use of a Modified Device.

21. FirstCaribbean T&C – Adding and Operating Non-FirstCaribbean Bank Accounts

In this Section 21,

“ACH” means Automated Clearing House;

“FirstCaribbean Account(s)” means your FirstCaribbean International Bank chequing and/or savings account(s);

“Non-FirstCaribbean Financial Institution(s)” means the local financial institution(s) at which your Non-FirstCaribbean Accounts are maintained;

“Non-FirstCaribbean Account(s)” your chequing and/or savings account(s) at other local Non-FirstCaribbean Financial Institution(s).

21(a). Description

FirstCaribbean International Bank’s bank-to-bank transfer service (“Transfer Service”) lets you transfer funds from your:

• FirstCaribbean Account(s) to your Non-FirstCaribbean Account(s); and
• Non-FirstCaribbean Account(s) to your FirstCaribbean Account(s).

You acknowledge that if your FirstCaribbean Account(s) or any service provided in connection with this Agreement are terminated for any reason, you will have no further rights in respect of, or access to the use of, the Transfer Service.

⁠21(b). Information Authorization for Non-FirstCaribbean Accounts

FirstCaribbean International Bank may verify the Non-FirstCaribbean Account(s) that you add to the Transfer Service. You authorize FirstCaribbean International Bank to validate the Non-FirstCaribbean Account(s) in any manner selected by FirstCaribbean International Bank, including a test transfer in which one or more low value payments is credited or debited to your Non-FirstCaribbean Account by FirstCaribbean International Bank. Once the test transfer is complete, FirstCaribbean International Bank may ask you to access the Non-FirstCaribbean Account and report to FirstCaribbean International Bank the amount of the test credit or debit or any additional information reported by your Non-FirstCaribbean Financial Institution in connection with the test transfer. FirstCaribbean International Bank may also verify Non-FirstCaribbean Account(s) by requiring you to submit proof of ownership of such Non-FirstCaribbean Account(s).

⁠21(c). Accounts

Each time you use the Transfer Service, you represent and warrant to FirstCaribbean International Bank that:

• You are either the owner, or an authorized signatory of each of the applicable FirstCaribbean Account and Non-FirstCaribbean Account and have the right to debit or credit each such account without any authorization from any individual or entity;
• The FirstCaribbean Account and Non-FirstCaribbean Account involved in the Transfer Service are each local accounts;
• The consent of the Non-FirstCaribbean Financial Institution is not required in order for FirstCaribbean to transfer  funds to or from the Non-FirstCaribbean Financial Institution, or where such consent is required, you have obtained such consent;
• The terms, conditions and applicable law that govern the use of your Non-FirstCaribbean Account involved in the Transfer Service permit the transfer of funds as carried out by the Transfer Service;
• You have the right to authorize and permit FirstCaribbean International Bank to access each of your FirstCaribbean Account and Non-FirstCaribbean Account for the purposes of: (i) completing the transfer of funds, or (ii) for any other purpose as authorized by this Section 21;
• You are not violating any third-party rights by authorizing FirstCaribbean International Bank to access information pertaining to each of your FirstCaribbean Account and Non-FirstCaribbean Account and completing the transfer of funds as authorized by this Section 21; and
• All of the information you have provided to FirstCaribbean International Bank is true, current, accurate, and complete.

You authorize and permit FirstCaribbean International Bank to use the information you submit to make transfers and to configure the Transfer Service to be compatible with your Non-FirstCaribbean Account.

At all times your relationship with each Non-FirstCaribbean Financial Institution is independent of FirstCaribbean International Bank and your use of the Transfer Service. FirstCaribbean International Bank will not be responsible for any acts or omissions by the Non-FirstCaribbean Financial Institution, including any modification, interruption or discontinuance of any Non-FirstCaribbean Account by such Non-FirstCaribbean Financial Institution or by any other third party, or any fees (including overdraft) that the Non-FirstCaribbean Financial Institution may charge you during the validation process described in Section 21(b) above.

Not all types of accounts are eligible for the Transfer Service. You acknowledge that FirstCaribbean International Bank will have the right to decline the use of any Non-FirstCaribbean Account for any reason, including that it believes may present a risk to you and/or FirstCaribbean International Bank. Be sure to check with your Non-FirstCaribbean Financial Institution for restrictions regarding transfers among your various account types (e.g., chequing, savings, etc.).

⁠21(d). Transfer Types and Limitations

Type of Transfers. From time to time FirstCaribbean International Bank may add new features to the Transfer Service, including a next-day service and a higher limit service. You will be approved or declined for any such additional service at FirstCaribbean International Bank’s discretion and additional terms and conditions may apply. FirstCaribbean will notify you in accordance with Section 22e. of such additional terms and conditions and your use and continued use of such additional service will constitute your acceptance of such additional terms and conditions. FirstCaribbean International Bank may at any time decline a fund transfer that FirstCaribbean International Bank believes may violate applicable laws or regulations or FirstCaribbean International Bank’s policies.

Frequency of Transfers. The account agreement for the relevant Non-FirstCaribbean Account may provide limits on the number of fund transfers you may make. FirstCaribbean International Bank may from time to time limit the number of fund transfers, the frequency and the dollar amount of transfers you can make using the Transfer Service or place limits on same.

Excess activity fees may apply if you exceed your local ACH mandated transaction limits for savings accounts or chequing accounts, including any additional limits that may be set by your Non-FirstCaribbean Financial Institution. If the limit is exceeded on more than an occasional basis, your Non-FirstCaribbean Financial Institution may be required to take any action they deem necessary.

Dollar Amount of Transfers. You may not make fund transfers in excess of FirstCaribbean International Bank’s dollar limits for the Transfer Service. FirstCaribbean International Bank reserves the right to change the dollar amount of fund transfers you are permitted to make using the Transfer Service. In the event that your use of the Transfer Service has been suspended and reinstated as provided below (see Section 21(g) Suspension, Reinstatement, and Termination), you understand and agree that your use of the Transfer Service thereafter may be subject to lower dollar amount limitations than would otherwise be permitted by FirstCaribbean International Bank.

Transfers subject to the Rules of your FirstCaribbean Account and Non-FirstCaribbean Accounts. All fund transfers are subject to the rules, laws, and regulations governing your FirstCaribbean Account and Non-FirstCaribbean Account, as applicable. You may not initiate any fund transfers from or to your FirstCaribbean Account and Non-FirstCaribbean Account that are not allowed under the rules, laws, or regulations applicable to such FirstCaribbean Account and Non-FirstCaribbean Account including rules, laws, or regulations designed to prevent the transfer of fund in violation of the Office of Foreign Asset Control (OFAC) regulations.

Failure or Rejection of Transfers. Upon learning that the fund transfer could not be completed, FirstCaribbean International Bank may, but is not required to, make reasonable efforts to complete the transfer again. If the fund transfer fails, FirstCaribbean International Bank will notify you via your transaction history. You will then have to contact your Non-FirstCaribbean Financial Institution to learn more about the failure.

FirstCaribbean International Bank reserves the right to decline: (i) any fund transfer, (ii) to submit fund transfer instructions (“FTI”) or orders, or (iii) to carry out change or cancellation requests.

Each time you use the Transfer Service, you represent and warrant to FirstCaribbean International Bank that you have enough money in the applicable Non-FirstCaribbean Account to make any funds transfer you request that FirstCaribbean International Bank make on your behalf through the Transfer Service. If FirstCaribbean International Bank receives a transfer request against any of your Non-FirstCaribbean Accounts and there are not enough available funds in such Non-FirstCaribbean Account to cover the transfer, FirstCaribbean International Bank may at its discretion decline the transfer.

If there are not enough available funds to cover the transfer as contemplated above, fees may be charged and will vary depending on the action FirstCaribbean International Bank takes. Any negative balance on a FirstCaribbean Account is immediately due and payable, unless FirstCaribbean International Bank agrees otherwise in writing, and you agree to reimburse FirstCaribbean International Bank for the costs and expenses (including attorney fees and expenses) FirstCaribbean International Bank incurs in recovering the negative balance (including overdraft and associated fees).

Your Right to Cancel a Transfer. Payments that are in process cannot be cancelled or stopped. When the Transfer Service offers recurring and/or future one-time transfers, you may cancel any transfer as long as FirstCaribbean International Bank receives the request before the process date of the one-time transfer or the next scheduled recurring transfer and with sufficient time before such date in order for FirstCaribbean International Bank to cancel the transfer. For recurring transfers, you may cancel only the next scheduled transfer or the entire recurring transfer schedule. After the entire recurring transfer schedule is cancelled, all future transfers will be cancelled and you must reschedule it if you want transfers to be made in the future. 

You may cancel a transfer by logging on to the Transfer Service or by contacting FirstCaribbean International Bank at the telephone number found at www.cibcfcib.com

⁠21(e). Authorization

You agree that your FTIs are the authorization for FirstCaribbean International Bank to complete the fund transfer. You authorize FirstCaribbean International Bank to execute your FTIs, through the ACH. You will be bound by the rules, laws, and regulations that govern the applicable fund transfer systems. 

FirstCaribbean International Bank will make all reasonable efforts to process your transfer requests in a timely manner; however, FirstCaribbean International Bank reserves the right to hold funds pending settlement or for such period of time as FirstCaribbean International Bank deems necessary to cover items which may be returned unpaid. In addition, there may be a delay in processing your request and you are responsible for accounting for any such delay; FirstCaribbean International Bank will not be responsible for any losses incurred by you or any third party in connection with such delays. For FirstCaribbean Accounts, any interest earned on such funds during the hold period will remain the property of FirstCaribbean International Bank.

To complete your fund transfer, FirstCaribbean International Bank may utilize ACH transfers, which will result in a debit to one of your Non-FirstCaribbean Account and a credit to your FirstCaribbean Account, or a debit to your FirstCaribbean Account and a credit to your Non-FirstCaribbean Account, as applicable. All FirstCaribbean International Bank ACH transfers go through a FirstCaribbean International Bank transfer account. For ACH debit entries (which debit your Non-FirstCaribbean Account and credit your FirstCaribbean Account), FirstCaribbean International Bank typically holds funds for a number of “business days” (the definition of which varies by country) to make sure that the item will not be returned unpaid before FirstCaribbean International Bank will credit your FirstCaribbean Account or make a bill payment. If the ACH transaction is returned for any reason and the payment has been credited to your FirstCaribbean Account, you authorize FirstCaribbean International Bank to debit your Non-FirstCaribbean Account, in whole or in part, for the amount of the returned item and for any returned item fee.

⁠21(f). Transfer Service Changes

Depending on the type of transfer or the type of FirstCaribbean Account, FirstCaribbean International Bank may charge fees for the use of the Transfer Service, and for any additional services or features that FirstCaribbean International Bank may introduce. If you choose to proceed with the transaction, you authorize FirstCaribbean International Bank to debit your FirstCaribbean Account in the amount indicated by FirstCaribbean International Bank. You agree to pay all fees associated with the use of the Transfer Service or replacements made by FirstCaribbean International Bank from time to time.

⁠21(g). Suspension, Reinstatement, and Termination

Without limiting any other right or remedy that FirstCaribbean International Bank may have under this Agreement or otherwise, FirstCaribbean International Bank reserves the right to suspend your right to use the Transfer Service, immediately and without prior notice to you, if FirstCaribbean International Bank encounters a problem with your use of the Transfer Service or determines, at its discretion, that there may be suspicious activities or any other activity that may compromise the Transfer Service or its integrity or security. FirstCaribbean International Bank may do so if, for example, there is a failure in attempting to debit any of your Non-FirstCaribbean Accounts or to collect any of your fund transfers as described above. You understand and agree that such action is reasonable for FirstCaribbean International Bank to take in order to protect FirstCaribbean International Bank from loss. In the event of such suspension, you may request reinstatement of your service by contacting FirstCaribbean International Bank at Customer Care at the telephone number found at www.cibcfcib.com.

FirstCaribbean International Bank may grant or deny reinstatement of your use of the Transfer Service. If FirstCaribbean International Bank agrees to reinstate you, FirstCaribbean International Bank may initially reinstate your Transfer Service subject to lower per-transaction and monthly dollar limits and/or with other restrictions. Based upon your subsequent usage of the Transfer Service, FirstCaribbean International Bank may restore your ability to complete transfers subject to such higher limits as may then be in effect.

Subject to applicable law or regulation, FirstCaribbean International Bank may immediately terminate your right to use the Transfer Service at any time and for any reason, including but not limited to where FirstCaribbean International Bank believes you:

• Engaged in conduct or activities that violate any of the terms of this Agreement or the rights of FirstCaribbean International Bank; or
• Provided FirstCaribbean International Bank with false or misleading information; or
• Interfered with other users or the administration of the Transfer Services.

 

FirstCaribbean International Bank will have the right to discontinue the Transfer Service at any time and without notice.

⁠21(h). Account Number Policy

If the instructions for a transfer under the Transfer Service identify a bank or beneficiary by name and account number, FirstCaribbean International Bank or the relevant Non-FirstCaribbean Financial Institution may execute those instructions by reference to the account number only, even if the account number does not correspond to the name. You agree that neither FirstCaribbean International Bank, nor the relevant Non-FirstCaribbean Financial Institution will have responsibility to investigate discrepancies between the names and account numbers.

⁠21(i). Your Responsibility for Errors

FirstCaribbean International Bank will rely on the information you provide, and you authorize FirstCaribbean International Bank to act on any instruction, which has been or reasonably appears to have been sent by you or your authorized representative, to submit FTIs on your behalf. Non-FirstCaribbean Financial Institutions receiving the fund transfer instructions may rely on such information. FirstCaribbean International Bank is not obligated to take any further steps to confirm or authenticate such instructions and will act on them without getting further confirmation. You agree to notify FirstCaribbean International Bank of any errors, including incorrect information in your FTI and to do so in  writing within 48 hours of you sending FirstCaribbean International Bank your FTI. If you or your authorized representative provide FirstCaribbean International Bank with incorrect information or if there is any error in your instructions, FirstCaribbean International Bank will make all reasonable efforts to reverse or delete such instructions, but you accept full responsibility for losses resulting from any of your errors, duplication, ambiguities, or fraud in the information that you provide. If any information you provide is untrue, inaccurate, not current, or incomplete, without limiting other remedies, FirstCaribbean International Bank may recover from you any costs or losses incurred as a direct or indirect result of such information.

FirstCaribbean International Bank is not responsible for errors, delays and other problems caused by or resulting from the action or inaction of Non-FirstCaribbean Financial Institutions holding the Non-FirstCaribbean Account, unless otherwise required by law or regulation. Although FirstCaribbean International Bank will try to assist you in resolving any such problems, you understand that any such errors, delays, or other problems are the responsibility of the relevant Non-FirstCaribbean Financial Institution. Any rights you may have against a Non-FirstCaribbean Financial Institution for such errors, delays, or other problems are subject to the terms of the agreements you have with such Non-FirstCaribbean Financial Institution, including any time limits during which complaints must be made.

⁠21(j). FirstCaribbean International Bank Liability

If FirstCaribbean International Bank:, (i) causes an incorrect amount to be debited removed from your Non-FirstCaribbean Account, or (ii) causes funds from your Non-FirstCaribbean Account to be transferred to any account other than the Non-FirstCaribbean Account specified in the applicable FTI; in each case FirstCaribbean International Bank will be responsible for returning the improperly transferred funds and/or for directing any misdirected funds to the proper Non-FirstCaribbean Account.

FirstCaribbean International Bank is not liable for any costs, fees, losses or indirect, special, consequential, exemplary, incidental or punitive damages of any kind incurred, including without limitation, as a result of:

• Its debit and/or credit or inability to debit and/or credit your FirstCaribbean Account(s) and Non-FirstCaribbean  Account(s) or any other accounts in accordance with your FTIs;
• The Transfer Service; or
• Inaccuracy, incompleteness, or misinformation contained in the information retrieved on the Non-FirstCaribbean Accounts or any other accounts; or
• Charges imposed by any Non-FirstCaribbean Financial Institution or by applicable law or regulation; or
• Fund transfer limitations set by the Non-FirstCaribbean Financial Institution(s) or applicable law or regulation; or
• Insufficient funds in your Non-FirstCaribbean Account(s) to make the fund transfer; or
• Transfers exceeding the credit limit on any applicable overdraft line; or
• System failures at a Non-FirstCaribbean Financial Institution and the inability of FirstCaribbean International Bank to complete the transfer; or
• Third-party causes, including causes of your Non-FirstCaribbean Financial Institution.

⁠21(k). Security Procedures

You acknowledge that your Non-FirstCaribbean Financial Institution may contact FirstCaribbean International Bank to verify the content and authority of FTIs and any changes to those instructions. In connection with the Transfer Service, you agree that FirstCaribbean International Bank may provide to that Non-FirstCaribbean Financial Institution such information to verify the instructions and the verification may constitute a valid security procedure under the rules governing your Non-FirstCaribbean Account(s).

21(l). Merchant Disputes

If you pay bills using the Transfer Service, you must settle directly with the Merchant any dispute or claims you may have. FirstCaribbean International Bank will not be responsible for any problems or disputes with merchants, including if a merchant does not credit you for a bill payment, refund any amount to you, imposes any additional charges on you (for example late fees or interest), or takes any other action.

21(m). Bill Payment

When funds are withdrawn from your FirstCaribbean Account or Non-FirstCaribbean Account to make a bill payment, not all merchants may treat payment as being received that day. As such, you must provide bill payment instructions several business days in advance of any due date or any date on which you wish a bill payment to be effective. FirstCaribbean International Bank will not be responsible for any processing delays nor any losses incurred as a result of such delays.

22. General.

1. Business hours. FirstCaribbean International Bank will act on any of your Communications during the usual business hours of the FirstCaribbean International Bank office at which they are received on the earliest banking day possible.
2. Monitoring facilities. FirstCaribbean International Bank will use reasonable efforts to monitor its communications facilities to determine if it has received any instructions or information from its customers. Since FirstCaribbean International Bank’s ability to act on your Communications depends upon the normal functioning of various communication facilities, FirstCaribbean International Bank is not liable for any delay or failure to receive your Communications.
3. Admissibility. If it wishes, FirstCaribbean International Bank may enter any photocopy, computer-generated copy, reproduction, tape recording or transcript of tape recording or other electronic media that FirstCaribbean International Bank has of your Communications into evidence in any legal proceeding as if it were an original document. That copy will be sufficient and valid proof of the information contained in it.
4. Changes to list of authorized Signatories. You may from time to time notify the FirstCaribbean International Bank office of changes to the list of authorized signatories. No change to that list is effective until the FirstCaribbean International Bank office has received written notice of the change.
5. Notices. FirstCaribbean International Bank may provide you notices by email, posting on FirstCaribbean International Bank’s internet sites, posting on FirstCaribbean International Bank’s internet banking, or ATM screens, any other manner of notification provided by you to FirstCaribbean International Bank or any other method of notification FirstCaribbean International Bank considers appropriate.
6. Valid agreement. This Agreement is a valid and binding obligation by you, enforceable in accordance with its terms.
7. Severability. If any clause of this Agreement is found by a court to be void or unenforceable, that clause will be severed without affecting any other provisions of this Agreement.
8. Interpretation. Where this Agreement refers to FirstCaribbean International Bank having a right or “discretion” including the right to deem an act or omission necessary, such discretion or right will be interpreted to mean that FirstCaribbean will have sole and unfettered discretion, including the right to make a decision arbitrarily, without an implied obligation to act reasonably or in good faith or to justify the decision to you.
9. This agreement additional. This Agreement is in addition to, and not in substitution for, the terms of any other agreement between FirstCaribbean International Bank and you. If any conflict arises between these and any other agreement with you, the terms of this Agreement will prevail.
10. Governing Law. This Agreement will be construed in accordance with and governed by the laws of the jurisdiction where the FirstCaribbean Account is opened and operated.
11. Changes to this Agreement. Subject to requirements of applicable law, FirstCaribbean International Bank may, from time to time, change the terms of this Agreement by providing you notice of any such changes. If you do not agree to the changes to this Agreement, you can terminate this Agreement by giving written notice to FirstCaribbean International Bank.