| Terms
and Conditions
1. DEFINITIONS
- “Bank" means Askari Bank Limited, a company
incorporated under the Companies Ordinance 1984 having its
registered office at AWT Plaza, The Mall, Rawalpindi.
- “Card" means the applicable Askari MasterCard/'
issued by the Bank to the Cardholder and includes supplementary
and replacement Cards.
- “Card Centre" means the Credit Card Division,
Askari Bank Limited, 4th Floor, AWT Plaza, I.I. Chundrigar
Road, Karachi, Pakistan.
"Cardholder" means the Primary Card applicant,
named in the application excluding any Supplementary Cardholder
who is issued a Card and for whom the Card Account is first
opened by the Bank.
- “Supplementary Cardholder" means the person
who is issued a Supplementary Card.
- “Card Account" means the Askari MasterCard
Account opened by the bank for the purpose of entering debits
incurred by or for the amount of, and credits received by
or for, the Cardholder and Supplementary Cardholder, if
any, under these terms and conditions and includes, without
limitation, all debits incurred resulting from any Charges
and/or Liabilities arising out of or in connection with
any Card Transaction or otherwise.
- “Merchant" means any person supplying goods
and/or services who accepts the Card or the Card numbers
as a means of payment or reservations by the Cardholder
or Supplementary Cardholder.
- “Cash Advance" means and includes any amount(s)
sanctioned and advanced by the Bank at the request of the
Cardholder, whether in cash or other form of payment. The
determination of such “Cash Advance" shall, however,
be at the exclusive and uncontrolled discretion of the “Bank".
- "Card Transaction" means any Cash Advance or
the amount charged by the Bank or any Merchant for any goods,
services. benefits or reservations obtained by the use of
the Card or the card numbers or in any other manner by the
Cardholder and/or Supplementary Cardholder, including without
limitation, mail, telephone or facsimile orders or reservations
authorized or purported to have been authorized or made
by the Cardholder and/or Supplementary Cardholder, regardless
of whether a sale or other voucher or form is signed by
the Cardholder or Supplementary Cardholder.
- "Charges" means the amounts of all and any purchases
charged and all amounts payable by the Cardholder and as
applicable, Supplementary Cardholder, arising from the issue
or use of the Card and/or all and any purchases charged
by use of the Card number and includes, without limitation,
all Card Transactions and costs and disbursements in connection
therewith.
- "Closing balance" means the total balance outstanding
on the Card Account payable to the Bank by the Cardholder
(including Supplementary Cardholder in accordance with the
Bank's records on the date the Statement of Account is issued
including all Charges.
- "Credit Limit" means the maximum limit permitted
by the Bank on the Card Account for the applicable Card,
if any, and notified to the Cardholder from time to time.
- "Liabilities" means any or all amounts payable
whatsoever by the Cardholder and/or Supplementary Cardholder
to the Bank pursuant hereto (liability) including every
type of exchange or other premium fees, import duties and
levies of whatever kind and/or amount such as payment fees,
delayed payment fees, stamp duties, excise duties, capital
value tax, sales tax, or other taxes as well as losses incurred
or sustained by the Bank, if any, arising or resulting front
any governmental actions or policies which effectively prevent
repayment of foreign currency charges of the Cardholder
and/or Supplementary Cardholder and further including, without
limitation, fines, costs, expenses, damages (Liquidated
or otherwise and legal costs and disbursements) charged
or incurred in connection with application and/or enforcement
hereof.
- "Month" means calendar month.
- "Rupee" means Pakistani currency for the purpose
of these terms and conditions.
- "Statement of Account" means the Bank's monthly
or other periodic Statement of Account sent to the Cardholder
showing particulars of the receivable on the account of
the Cardholder and any Supplementary Cardholder and payable
to the Bank.
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2. COLLECTION OF THE CARD
2.1 It is understood and agreed
that prior to use of Askari MasterCard® Card, the Cardholder
shall execute and deliver all the requisite documents required
by the Bank in connection with the issuance and use of the
Card in terms specified herein.
2.2 The Card maybe collected
by the Cardholder from the branch of the Bank where he submitted
his application or may be couriered to the Cardholder at the
discretion of the Bank (pursuant to such conditions as are
or may be specified by the Bank).
2.3 The Card and the Supplementary
Card, if any, must be signed by the Cardholder and/or the
Supplementary Cardholder, as the case may be, immediately
on receipt thereof in the space so provided for signature.
2.4 In order to activate use
of the Card and the Supplementary Card, it any, the Bank may
In its sole discretion require the Cardholder and/or the Supplementary
Cardholder, as the case may be, upon receiving the Card, to
communicate agreement to activation thereat by telephone or
in such other manner as the Bank may specify at its discretion.
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3. USE OF THE CARD/CARD HOLDER'S PARTICULARS
3.1 The Card is not transferable
and no person other than a Cardholder (or any duly authorized
Supplementary Cardholder) is permitted (and the Cardholder
and the Supplementary Cardholder will not permit any other
person) to use the Card or Card numbers for Charges and/or
Card Transaction(s) or for identification or for any other
purpose. The Cardholder and/or the Supplementary Cardholder
will not use the Card before the effective date or after the
validity of the Card.
3.2 The Cardholder and Supplementary
Cardholder shall be liable for all Charges and Liabilities
in respect of each Card Transaction and any other costs and
expenses and it is agreed that the Card may only be used by
the Cardholder (or any approved Supplementary Cardholder)
only:
- for Card Transactions authorized by the Bank.
- to obtain the facilities, benefits and services made
available by the Bank or any Merchant from time to time,
and
- within the Credit Limit permitted by file Bank unless
the Bank's prior written approval is obtained.
3.3 The Bank reserves its rights
at any time or from time to time to reduce or increase the
credit limit of the Card holder, during any period.
3.4 Notwithstanding that the
Cardholders Credit Limit has not been exhausted, the Bank
in its absolute discretion shall have the right, at any time
and without notice and without giving any reason and without
liability to the
Cardholder, the Supplementary Cardholder or any other party,
to withdraw or restrict the Cardholder's or Supplementary
Cardholder's right to use the Card or to refuse to authorize
any Card Transaction.
3.5 The Cardholder and Supplementary
Cardholder shall respectively notify the Bank of any change
or imminent change in any particulars stated in the Card Application
Form or other information provided to the Bank (including
any name change) and respectively agrees to provide any other
information or particulars if requested by the Bank at any
time.
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4. THE CARD ACCOUNT
4.1 The Bank shall debit to
the Card Account all Charges and Liabilities and any other
costs or expenses incurred by the Bank for the account of
the Cardholder and Supplementary Cardholder and all losses
or damages incurred or sustained by the Bank arising from
or relating to the issue or use of the Card (or any indemnity
herein or otherwise given) or a breach of these terms and
conditions, by the Cardholder and/or Supplementary Cardholder.
4.2 All non-US Dollar Charges
(excluding any Rupee Charges) incurred or arising out of Card
Transactions shall be converted to US Dollars at the rate
of exchange applicable for such purpose in accordance with
the applicable rules or business practice of MasterCard®
and the Cardholder and Supplementary Cardholder waive any
and all right to dispute or question or challenge any rate
of exchange so applied.
4.3 The Bank shall convert
the amount of all original and/or converted US Dollar Charges
(i.e. non-US Dollar Charges converted into US Dollar Charges
under the above Clause) arising out of or relating to Card
Transactions and Charges of the Cardholder and Supplementary
Cardholder at the rate of exchange specified for such purpose
in accordance with the applicable rules of the Bank or, in
the absence thereof, as the Bank in its discretion may determine.
The Cardholder and Supplementary Cardholder waive any and
all rights to dispute or question any rate of exchange so
applied by the Bank.
4.4 The Cardholder and Supplementary
Cardholder shall be jointly and severally liable to pay all
Charges, Liabilities and other amounts debited to the Card
Account by the Bank, (including those specified under the
"SUPPLEMENTARY CARD" Clause 8) hereinafter.
4.5 The Cardholder hereby irrevocably
authorizes the Bank to open such Rupee/ Foreign Currency PLS
/ Current account (accounts) as the Bank may deem appropriate."
4.6 The Bank may at any time
or from time to time in its sole discretion discharge its
entire liability with respect to any Account(s) by mailing
to the Cardholder at the address on file, its draft in the
currency of the Account(s) without recourse to the Bank as
drawer and payable to the order of the Cardholder in the amount
of the existing credit balance in the Account(s) deducting
there from the amount of any claims that the Bank may have
on such funds.
4.7 All the Account(s) opened
by the Cardholder shall be governed by the terms hereof, in
addition to the standard terms and conditions of the Bank
applicable to the Account(s). In the event of a conflict between
the standard terms and conditions and these terms and conditions
the latter shall prevail.
4.8 The Cardholder shall not
close his Account(s) or sever business with the Bank till
all Liabilities, Charges, Costs, etc. relating to the Card
or any Supplementary Card are settled and the Card is returned
to the bank (except in cases of lost / stolen).
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5. PAYMENTS
5.1 The Bank will send a monthly
statement of the account directly to the Cardholder and on
receipt of the same, the Primary Card Applicant (Cardholder)
would be required to pay at least the minimum payment indicated
in the statement on or before the due date which shall be
approximately 20 days from the date of issuance of statement.
5.2 Where the Cardholder and/or
the Supplementary Cardholder fails to make the minimum payment
on or before the due date, a Compensation Charge 10% (minimum
charge Rs. 550/-) of the due minimum payment will be charged
to the Cardholder's account and recovered from the Primary
Card Applicant (Cardholder). This Compensation Charge would
be in addition to other Charges and Liabilities in respect
of the pertinent Card Transactions.
5.3 Subject to any limitation
imposed by statute, all amounts due under this Agreement will
be immediately payable in full on the commission of an act
of bankruptcy by or on the death of the Primary Card Applicant
(Cardholder) or at the Bank's discretion should there be any
breach of this Agreement by a Cardholder or the Card is withdrawn
either by the Bank or by the Cardholder.
5.4 Any payment to the Bank
will only take effect when received at the address notified
by the Bank and credited to the Card Account.
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6. CHARGES
6.1 If the whole of the balance
(whether on account of purchases, cash advances or otherwise)
outstanding on the monthly statement date, is not repaid in
full by the due date, mark-up and service charges will be
charged at the rate of upto 3.5% per month on the daily outstanding
balances, commencing from transaction date till the date of
final adjustment.
6.2 The Bank shall also charge
service fee on each Cash Advance from the date of each Cash
Advance until the date of full payment upto 3.5% charge fee
per month or such other rate as the Ban k may determine from
time to time, in addition, the Cardmember shall also be liable
to pay a Cash Advance fee of 3 % on the amount of each Cash
Advance obtained from the Bank or Rs. 500/- whichever is higher.
In case the Cash Advance is obtained from any other participant
bank or financial institution that accepts the card, the Cardmember
shall also be liable to pay whatever fee the participant bank
or financial institution charges for the Cash Advance.
6.3 All payments becoming payable
by the Cardholder to the Bank shall be in Pakistani Rupees.
Accordingly, for non-Rupee Liabilities and Charges incurred
by the Cardholder, the Cardholder hereby irrevocably authorizes
the bank to effect debit to the Account(s) and appropriate
the proceeds therein and apply the same to purchase Foreign
Currency from authorized money changers and/or Foreign Exchange
Bearer Certificates and/or equivalent currency permissible
under law And retire all outstanding non Rupee Charges and
liabilities and all costs and expenses incurred in connection
therewith. In the event the Government of Pakistan declines
to permit continued convertibility of Rupee currency through
the services of authorized money changers or by way of Foreign
Exchange Bearer Certificates at any time, the Cardholder agrees
to make payment to the bank in Rupees of all non-Rupee charges
converted at such rate of exchange as the Bank shall specify
for this purpose.
6.4 In the event the Credit
Limit fixed by the Bank in favour of Cardholder is unauthorisedly
exceeded by the Cardholder by reason of excessive use of the
Card, the Bank shall be entitled, without prejudice to other
available rights, to additionally charge, to the extent of
amount unauthorisedly overdrawn and for every day of delay,
an amount not exceeding the rate that is applicable to commercial
finances allowed by it under the normal course of business.
The Cardholder expressly agrees that such additional charges
would be a reasonable compensation on account of inconvenience
that may be caused to the Bank as a result of Cardholder's
breaking the fixed “Credit Limit”.
6.5 All overdue payments received
by the "Bank" from the Cardholder or Supplementary
Cardholder may be applied in and towards payment of unpaid
fees, Charges, Liabilities, service fees and other costs and
expenses in previous or current Statement of Account in such
order of priority as the Bank may deem fit.
6.6 The Bank's rights against
the Cardholder and/or Supplementary Cardholder shall not be
detrimental to, affected or prejudiced by any of his actions
and all amounts payable to the Bank, actual or contingent
or joint or several shall immediately become due or payable
upon the death, bankruptcy or insanity of the Cardholder and/or
Supplementary Cardholder, and the Cardholder and/or Supplementary
Cardholder shall immediately return to the Bank all Cards
cut into half and make full payment as required by the Bank.
6.7 At the Bank's absolute
discretion, it shall be entitled to demand return of the Card
and/or immediate payment of all amounts outstanding under
the Card Account at any time without giving any reason or
notice and without liability to the Cardholder.
6.8 The Bank shall only credit
the Card Account with a refund in respect of a Card Transaction
in accordance with its usual practice if and when the Bank
receives such refund in Pakistan, provided however; the Bank
assumes no liability or responsibility for procuring the refund
from any sources whatsoever.
6.9 The bank also provides
optional credit premium shield at a very low premium rate
i.e. Rs. 0.40 per Rs. 100/- on the monthly closing balance
on your Askari MasterCard@ credit card. Please contact the
customer services on 111 000787.
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7. SECURITY
The Cardholder hereby guarantees payment to the bank as his
or her own debt any and all amounts due and payable to the
bank by the Supplementary Cardholder including every and all
types of Charges and Liabilities and all other costs and expenses
payable by the Supplementary Cardholder to the Bank. The Cardholder
hereby agrees that the Bank may in its sole discretion, compound
with or otherwise vary or release the obligations of the Supplementary
Cardholder to the Bank without releasing, discharging or diminishing
the liability of the Cardholder to the Bank as guarantor for
the Charges and Liabilities of the Supplementary Cardholder
and, further, until the Cardholder has fully discharged his
or her liability to the bank hereunder, the Cardholder will
not claim or prove in competition or be entitled to any set-off
or other right in respect of any payment made to the Bank
by the Cardholder in respect of the Charges and/or Liabilities
of the Supplementary Cardholder.
The Cardholder shall be deemed to have hereby executed an
Hypothecation Agreement which reads as follows:
HYPOTHECATION AGREEMENT
In consideration of Askari Bank Limited ("The Bank"),
agreeing to consider my request for providing me the facility
of MasterCard`@ ("Facility"), on the terms and conditions
set out by the Bank for the Facility. I, the Card Holder unconditionally
agree and expressively undertake as follows:
a. I do hereby Hypothecate
and declare hereunder, that all present and future house hold
goods owned by me, including furniture fittings, electronic
items, vehicles, hereinafter called "Hypothecated Property",
more fully described in the schedule, shall henceforth be
the security, for payment of any and all dues owning to the
Bank or which may at any time hereafter become due to the
Bank from me up to the limit of Facility, plus all service
charges and all costs, charges and expenses payable to and/or
incurred by the Bank.
b. While maintaining the Hypothecated
Property in good condition, I shall not without prior permission
from the Bank in writing at any time so long as there shall
be any amount due by me under the Facility, sell or cause
or
permit to be sold or charge or encumber or divert or otherwise
deal with the Hypothecated Property which may be detrimental
to the interests of the Bank, whereby Bank's security in any
way is prejudicially affected.
c. The bank, or its agents,
and/or nominees shall be entitled at all times, and without
notice to examine the Hypothecated Property and inspect and
take charge of the same and without prejudice to the generality
of the foregoing if, I :
(a) fail to maintain the Hypothecated Property in good condition
(b) fail or neglect to pay you on demand the balance than
due
(c) commit breach of any of the terms contained herein
(d) commit any act of insolvency within the meaning of any
law for the time being enforce or become or be adjudged bankrupt
or insolvent.
d. I further authorize the
Bank or its representative to effect sale of the same either
by private agreement or public auction, for such an amount
and at such price as the Bank may deem proper and satisfactory.
e. I hereby assume full liabilities
as principal debtor for all amounts becoming due and payable
to the Bank by the Supplementary Card Holder, if any, nominated
by me including every and all types of charges and liabilities
and all other costs and expenses payable by the Supplementary
Card Holder to the Bank.
g. I, upon setting my hands
at the end of terms and conditions hereof, do hereby, confirm
execution of this agreement on the day, month and year written
there against and unconditionally agree to furnish to the
Bank, schedule of Hypothecated Property and other documents
relating there to including receipts thereof, duly endorsed
in favour of the Bank and shall on demand by the Bank, agree
to deliver to the Bank, possession of the said Hypothecated
Property.
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8. SUPPLEMENTARY CARD
8.1 The Bank may issue a Supplementary
Card to any person, not below the age of 18 years nominated
by the Cardholder and approved by the Bank. If a Card is issued
to the Supplementary Cardholder, the Cardholder and the Supplementary
Cardholder are jointly and severally bound by these terms
and conditions and are jointly and severally liable to the
Bank for all Charges and Liabilities and other costs and expenses
incurred or payable by the Cardholder and/or the Supplementary
Cardholder. The Credit Limit assigned to the Cardholder is
inclusive of the Credit Limit of the Supplementary Cardholder
and the Cardholder and the Supplementary Cardholder shall
not permit the total of the Charges incurred under or through
their respective Cards to exceed the said Credit Limit. The
Cardholder and Supplementary Cardholder accordingly agree
and undertake to ensure that the balances maintained in the
Account(s) will cover, at all times, the amount of the applicable
Credit Limit assigned to their respective
Cards and their respective Charges incurred pursuant thereto.
8.2 The undertakings, Liabilities
and obligations of the Cardholder and the Supplementary Cardholder
to the Bank and the Bank's rights herein shall not be affected
in any way by any dispute or counter claim or right of set-off
which the Cardholder and the Supplementary Cardholder may
have against each other. As provided under the "Security"
Clause (7) herein above, the Cardholder shall be independently
liable to pay the Bank for all Charges and Liabilities incurred
by the Supplementary Cardholder (not withstanding any legal
disability or incapacity of the Supplementary Cardholder which
would otherwise preclude such liability).The Cardholder
hereby indemnifies the Bank against any losses, damages, liabilities,
costs and expenses, whether legal or otherwise, incurred or
suffered by the Bank by reason of any legal disability or
incapacity of the Supplementary Cardholder to make any required
payments pursuant hereto and/or any breach of these terms
and conditions by the Supplementary Cardholder. For all intents
and purposes, the Cardholder shall be deemed to be the guarantor
of the Supplementary Cardholder and an indemnifier in respect
of all losses, damages, liabilities, costs and expenses incurred
or suffered by the Bank due to any acts or omissions on part
of the Supplementary Cardholder, including breach of all or
any of the terms and conditions contained herein.
8.3 Any payment made by the
Cardholder or the Supplementary Cardholder to the Bank shall
be allocated towards reduction of the debit balance in the
Account(s) but the Cardholder and the Supplementary Cardholder
shall continue to remain liable for any outstanding post-payment
debit balance, it any, in the Account(s).
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9. LOSS OF CARD
9.1 If the Card is lost or
stolen, the Cardholder or Supplementary Cardholder shall immediately
notify the said loss, theft or disclosure with all material
particulars including Card numbers to the Bank. Until such
notification is received by the Bank and the Bank suspends
the operation of the Card the Cardholder shall be liable for
any unauthorized use of the Card. Within three days of such
notification to the Bank, the Cardholder shall send to the
Bank a written confirmation of the loss, theft of disclosure
together with such particulars thereof, including copy of
relevant police report, as may be required by the Bank and
thereafter the Cardholder's liability shall be limited as
provided in Clause (9.2) herein below.
9.2 The Cardholder agrees that
the Bank has the right to recover all unauthorized charges
resulting from the loss, theft or other unauthorized use of
the Card up to the point of the suspension of the Card by
the Bank upon receiving the notification mentioned in Clause
9.1 above. However the Cardholder's, liability in the event
of loss or theft of the Card shall be limited to the payment
of a deductible amount which shall be determined by the Bank
in its sole discretion and the Cardholder can inquire as to
the deductible amount in his case from Asked Bank Ltd. Card
Centre. The Cardholder's liability shall be limited as aforesaid,
in addition to all accrued Charges and Liabilities and all
other costs and expenses in relation thereto; provided the
Cardholder has followed the above procedure for notification
of loss or theft as stated in the preceding Clause and the
loss or theft of the Card has not been due to any negligence
or lack of care on the part of the Cardholder.
9.3 Any lost or stolen Card,
subsequently recovered by the Cardholder or Supplementary
Cardholder, shall immediately be returned to the Bank without
further use.
9.4 The Bank may, in its absolute
discretion, issue a replacement Card for any lost or stolen
Card on these terms and conditions or such other terms and
conditions as the Bank may deem fit, including objection of
an indemnity from the Cardholder and/or the Supplementary
Cardholder.
9.5 Card replacement lost/stolen charges Rs. 250.
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10. SUSPENSION/TERMINATION OF THE CARD
10.1 In case the Card operations
are suspended twice, the Card shall be rendered cancelled.
10.2 The Cardholder may, at
any time, inform the Bank of intention to close the Card Account
and to terminate the use of all Cards by giving prior notice
in writing and returning all Cards cut into half to the Bank.
The Card account shall be closed only after the receipt by
the Bank of all cards cut in half and after full payment to
the bank of all Charges and Liabilities and all other costs
and expenses in relation to the card account.
10.3 The Cardholder or any
Supplementary Cardholder may at any time terminate the use
of any Supplementary Card by giving notice in writing and
returning the relevant Supplementary Card cut into half to
the Bank. In such event, the Cardholder, including the Supplementary
Cardholder whose use of the Card has been terminated, shall
continue to remain jointly and severally liable to the Bank
for all Charges and Liabilities and all other costs and expenses
in relation thereto in accordance with these terms and conditions,
except that the Supplementary Cardholder, whose use of the
Card has been terminated, shall not be liable for all Charges
and Liabilities incurred by the Cardholder and other Supplementary
Cardholder (if any) after the Bank's receipt of such Supplementary
Card.
10.4 The Bank may, at any time,
recall and cancel all or any Card(s) with or without giving
any prior notice to the Cardholder or Supplementary Cardholder.
The Cardholder and Supplementary Cardholder shall immediately,
after such recall and cancellation, return such (Card(s) cut
in half to the Bank and make full payment of all Charges and
Liabilities and all other costs and expenses in relation thereto
to the Bank.
10.5 If the use of all or any
Card(s) is terminated in terms hereof, all Charges and Liabilities
of the Cardholder and/or Supplementary Cardholder, whether
actual or contingent, shall become immediately due and payable
to the Bank.The Cardholder and the Supplementary Cardholder
shall be fully liable to the Bank for all Charges and Liabilities
and all costs and expenses in relation thereto, until the
Bank's receipt of all Cards cut in half and full payment from
the Cardholder and/or the Supplementary Cardholder for all
outstanding Charges and Liabilities and other costs and expenses
in connection therewith. The Bank shall not be liable to refund
the annual membership fees or any part thereof to the Cardholder
in the event of the termination of use of the Card(s) and
the relevant Card Account(s).
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11. EXEMPTION/EXCLUSION
11.1 The Bank shall not be
liable for any loss or damage, howsoever incurred, or suffered
by the Cardholder or Supplementary Cardholder by reason of
the Bank or a Merchant or other party refusing to allow a
Card Transaction or accept the Card or the Card numbers.
11.2 The Bank is not liable
in any way for the quality, quantity, sufficiency, acceptability
of goods and/or services reserved or purchased by the use
of the Card or Card numbers or for any breach or non-performance
of any Card Transactions by a Merchant, in the event of any
dispute between the Cardholder and the bank or any Merchant
or any other person the Cardholder's liability to the bank
shall not in any way be affected or reduced or suspended by
such dispute or any counter claim or right of set-off which
the Cardholder may have against such Merchant or other person.
The Merchant shall under no circumstances be regarded as an
agent or representative of the Bank and neither the Bank shall
be responsible or liable in any manner for any acts or omissions
or breach of representations on part of the Merchant.
11.3 The Bank is not liable
in any way to the Cardholder or Supplementary Cardholder for
any loss, damage of whatever nature due to or arising from
any disruption or failure of communication system of facilities
or data processing system or transmission link or due to or
from any industrial or other dispute or any other thing or
cause beyond the control of the Bank.
11.4 The Cardholder and the
Supplementary Cardholder hereby confirm that the Charges and
Card Transactions executed and paid pursuant to these terms
and conditions are and will continue to be in accordance with
all applicable laws, regulations, rules, circulars, and directives
as may be amended from time to time governing the use of credit/charge-Cards
for the time being in force in Pakistan and further hereby
indemnify the Bank against any fines, losses, and/or damages
incurred or suffered by the Bank in the event of contravention
of such laws, regulations, rules.
11.5 Circulars and/or directives
by the Cardholder and/or Supplementary Cardholder at any time.
11.6 Except as otherwise prescribed
by law, Asaloi Bank Ltd. shall have no responsibility, or
liability for any act or omission or inability or perform
any of its obligations hereunder which results from any cause
beyond Askari Bank Ltd. control.
11.7 In the event that any
one or more of the provision set out herein above shall be
held by a court of competent jurisdiction to be invalid, illegal
or unenforceable in any respect, the validity, legality or
enforceability of the remaining provisions shall not be affected
or impaired thereby.
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12. VARIATION OF TERMS
12.1 The Bank reserves the
rights to add/amend these terms and conditions, at its sole
discretion, which shall be binding on the Cardholder or Supplementary
Cardholder.
12.2 The Bank may at any time
or from time to time change any of these terms and conditions
including, without limitation, the terms of payment, percentage
rates, Charges and fees, and accordingly notify the Cardholder
by inclusion in the Statement of Account or otherwise. Such
changes shall be effective from the date specified by the
Bank for such modifications or, if contained in the Statement
of Account, from the date of the Statement of Account.
Retention by the Cardholder of the Card after the Cardholder's
receipt of any changes in these terms and conditions pursuant
to the preceding Clause shall constitute notice of the Cardholder's
acceptance of such amended terms and conditions without reservations.
12.3 In the event of Cardholders
non-acceptance of such terms and conditions as amended, the
Cardholder must immediately terminate the use of the Card
in accordance with "Suspension/Termination of the card"
Clause (10) herein above.
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13. DISCLOSURE
The Cardholder hereby irrevocably authorizes the Bank to
disclose and/or obtain information relating to the card account
and/or any other account, the use of the card, the particulars
and financial affairs of the cardholder to and/or from any
merchant, bank, financial institution or any of the Bank's
branches and related or affiliated concerns or any member
of the MasterCard International and VISA Card Network or any
person or authority as the Bank may, in its sole discretion,
deem appropriate.
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14. NOTICES
All Cards, notices, Statements of Account, demands or any
other communication under these terms and conditions (hereinafter
collectively called "Communications") may be delivered
personally or by courier or be sent by ordinary post to the
last known billing or other address of the Cardholder and
such Communications shall be deemed to have been served on
the Cardholder on the day of delivery, if delivered by hand
and on the next business day after dispatch, if sent by courier
and on the third business day after posting if sent by registered
post. All Communications under these terms and conditions
sent to the Cardholder or the Supplementary Cardholder shall
be deemed to be Communications sent also to the Supplementary
Cardholder.
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I5. INDEMNITY
The Cardholder undertakes and agrees to indemnify the Bank
and hold it harmless against any loss, damage, liability,
cost and expense, whether legal or otherwise, which the Bank
may incur by reason of these terms and conditions or any breach
thereof or the enforcement of the Bank's rights as herein
provided (including any loss incurred or suffered by the Bank
in the event of any governmental restrictions imposed on payment
by the Cardholder in foreign currency by way of cash or through
Foreign Currency Accounts or otherwise). Accordingly, all
costs and expenses including legal costs and disbursements
of every expense incurred by the
Bank in enforcing or seeking to enforce or applying these
terms and conditions or otherwise, shall be debited to the
Card Account and shall be paid as Liabilities by the Cardholder.
The Cardholders further indemnifies, claims, costs, damages,
and expenses resulting directly or indirectly or arising from
or in connection with the use of Askari Bank Ltd. MasterCard®
and/or Supplementary Askari Bank Ltd. MasterCard® which
shall survive even on the termination of Askari Bank Ltd.®
and / or Supplementary Askari Bank Ltd. MasterCard®
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16. RIGHT OF SET-OFF
The Bank may at any time or from time to time and without
notice or liability in any way to the Cardholder or Supplementary
Cardholder, combine or consolidate or merge or amalgamate
any one or all accounts of the Cardholder and/or Supplementary
Cardholder with the Bank or any affiliate or subsidiary (whether
current or deposit or of any other nature and in whatever
currency and whether in Pakistan or elsewhere) and/or set-off
or apply any money standing to the credit of anyone or all
of such account in or towards satisfaction of the outstanding
balance of the Card Account. Where such combination, consolidation
and/or set-off requires the conversion of one currency into
another, the Bank shall be entitled to effect such conversion
at such rate of exchange prevailing on the day of such combination,
consolidation and/or set-off as the Bank may apply in accordance
with the Bank's usual practice in such connection and all
exchange risks, losses, premiums, commissions and other bank
Charges shall be exclusively borne by the Cardholder.
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17. WAIVER
The Bank may at any time waive either unconditionally or
otherwise any of these terms and conditions or any default
or breach of the Cardholder provided that such waiver is given
in writing by the Bank and save as aforesaid, no condoning
or excusing of and no neglect or forbearance on the part of
the Bank of any default or breach of any of these terms and
conditions shall operate as a waiver of the Bank's rights
and powers and no waiver shall be inferred from or implied
by anything done or not done by the Bank unless expressed
in writing by the Bank. Any waiver shall operate only as waiver
of the particular matter to which it relates and shall not
operate as a waiver of any of these terms and conditions.
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18. FULL FROCE AND EFFECT
These terms and conditions shall remain in full force and
effect until the Bank acknowledges receipt of all Cards cut
in half and full payment of all Cardholder and Supplementary
Cardholder Charges and Liabilities and other costs and expenses
relating thereto.
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19. SEVERANCE
Each of these terms and conditions shall be severable and
distinct from one another and if, at any time, anyone or more
of such terms and conditions is or becomes invalid, illegal
or unenforceable, the validity, legality or enforceability
of the remaining provision shall not in any way be affected
or impaired thereby.
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20. TAXES AND OTHER GOVERNMENT LEVIES/OUTIES
The Cardholder and Supplementary Cardholder agree to reimburse
the Bank for payment of any stamp duties and/or excise or
other similar taxes or levies or imports or taxes payable
in connection with the use of the Card or the Card Account.
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21. ASSIGNMENT: TRANSFER OF INTEREST
The Cardholder and Supplementary Cardholder hereby agrees
that the bank may, in its sole discretion, assign, discount
or otherwise transfer part
or all of its interests herein to any third party for such
consideration or otherwise as the Bank deems appropriate.
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22. ARBITRATION
That in the event of any dispute, doubt or question arising
between the Bank and Cardholder touching interpretation, meaning
or effect of any of aforesaid terms and conditions or any
part thereof, or their respective rights and liabilities hereunder,
the same shall be referred to arbitration under the Arbitration
Act, 1940 and the award of the arbitrator or arbitrators or
the umpire, as the case may be, shall be based on MasterCard®
by-laws and rules and shall be binding on the parties thereto,
the cost of which proceedings shall however be borne by the
losing party.
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23. GOVERNING LAW
These terms and conditions are governed by and shall be
construed in accordance with the laws of Pakistan and the
Cardholder and Supplementary Cardholder hereby submit to the
jurisdiction of the Banking Tribunals & Courts established
in Pakistan under and in terms of the Banking Tribunals Ordinance,
1984 or any other law for the time being in force.
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24. HEADINGS
The headings herein are for guidance but not for interpretation
or construction of these Terms and Conditions.
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25. RIGHTS
Reward Program may be changed, extended or withdrawn at
any time without notice and may be combined with any other
promotion offer.
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