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PaymentAgreement


 

Agreement of Bank of China Limited on E-Payment Service for Personal Customers

In accordance with the relevant state laws and regulations and for the purposes of guaranteeing the interests of both parties and standardizing the behaviors thereof, Party A and Party B enter into the following agreement concerning the customer (hereafter Party A) using the e-payment service (hereafter the E-Payment) provided by Bank of China Limited (hereafter Party B) on the principles of free will, equality and mutual benefit.

Article 1 The E-Payment service provided by Party B means that after Party A becomes an online banking customer of Party B upon contracting, he/she opens the function of E-Payment, purchases goods or services on the e-commerce websites and then sends the payment instruction to Party B through the Internet so as to realize the payment and transfer of money.

Article 2 The prerequisite for Party A to apply for using the E-Payment function of Party B is that he/she must have successfully become an online banking customer of Party B and apply for the online banking certification instruments designated by Party B. As to all such E-Payment transactions of Party B that are certified by the said certification instruments, Party B shall deem all these transactions are handled by Party A in person. And Party A shall not request for changing or canceling the electronic payment instruction already submitted.

Article 3 Having signed this agreement, Party A shall follow business requirements of Party B to designate a lawful account for the use of E-Payment.

Article 4 Party A shall secure the paying capacity of account designated for E-Payment function and comply with laws and regulations relating to payment and settlement business in a strict manner.

Article 5 Should the closure, abnormal status (loss-reporting or freezing) or shortage of balance of the account designated by Party A result in failure of Party B to perform the agreement, the latter shall not assume any liability therefore.

Article 6 The trading disputes between Party A and any third party (excluding Party A and Party B, but including the third-party payment platform, the seller of goods or services purchased by Party A and the distributor of goods, etc.) shall have nothing to do with Party B. And Party B will not accept the complaint of Party A against any other third party.

Article 7 Party B is entitled to add, delete or change the cooperative merchants of it according to business development needs.

Article 8 Party A opens the E-Payment function by means of agreeing with this agreement on line and being certified by the certification instruments; and if Party A intends to terminate use of the payment service provided by Party B, he/she can revoke such service by clicking cancel on the relevant page.

Article 9 The agreement shall serve as a supplement instead of a replacement to the Service Agreement of Online Banking Personal Customers of Bank of China Limited and other established agreements and contracts and have the same legal effects. When using the service provided by Party B, Party A shall observe the e-banking charters, business rules, all related agreements already signed and other business regulations concerned.

Article 10 When Party A finds the E-Payment instruction is not or improperly executed or delayed for execution due to his/her rule-breaking operation or other personal reasons, he/she shall inform Party B by dialing service hotline or visiting a business outlet. And Party B shall make active investigation and notify Party A of the investigation results.

Article 11 Should Party B fail to execute the E-Payment instruction sent by Party A correctly or the service is interrupted due to force majeure or other non-Party B reasons (e.g. equipment failure, communication line fault or power cut), Party B shall not take any liability therefore.

Article 12 If any dispute arises out of performing the agreement by both parties, Party A and Party B shall resort to negotiation for settlement. Otherwise, the dispute will be settled through the means agreed upon in the Service Agreement of Online Banking Personal Customers of Bank of China Limited already signed by the said two parties.

Article 13 The conclusion, entry into force, performance and interpretation of the agreement are governed by the applicable laws of the Peoples Republic of China; and if there are no explicit legal stipulations, the generally-accepted financial practices shall be applicable.

Article 14 The agreement shall become effective upon the agreement of Party A and his/her opening of the E-Payment function after being certified by certification instruments and expire as of revoking the service. All the time points are subject to those recorded by the online banking system of Party B. The expiration of the agreement shall not mean that the prior transaction instruction already sent but not executed is cancelled or any legal consequence arising out of the prior transaction is terminated.

Article 15 The interpretation and amendment right of the agreement shall be reserved by Party B.

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