Party A£º×ÔÖú×¢²á
Party B£ºICBC
Party A (A customer of Transferring Account) hereby authorizes Party B (ICBC) to periodically deduct from Party A's Account opened in Party B to pay back amount due in Party A's Peony Card Account under the terms agreed below.
1. Auto-Repayment can be applied to the following types of cards: Peony International Quasi Credit Card and Peony Credit Card.
2. Auto-Repayment by foreign currency for Peony International Quasi Credit Card shall have the options of either using foreign exchange bought by RMB or foreign currency directly. Currency of transferring/receiving account must be identical if foreign currency is used for repayment. Peony International Quasi Credit Card only allows auto-repayment via USD Account.
3. Transferring Account making auto-repayment for Peony International Quasi Credit Card and Peony Credit Card can be: Peony International Quasi Credit Card, Peony International Debit Card, Domestic Peony Credit Card, Domestic Peony Quasi Credit Card, Domestic Peony Money Link Card/Elite Club Card/E-Age Card and Domestic ICBC Current Account.
4. Only owner of Transferring Account/holder of Principle Card can apply for Auto-Repayment.
5. Registration and modification to Auto-Repayment can only be applied by Party A. Party A can apply auto-repayment for account either of his/her own or others. Transferring Account must be a Personal Account should owners of Transferring Account and Receiving Account are not of the same person. Applications for registration, modification and cancellation of Auto-Repayment must be submitted by Party A. 'Auto-Repayment by RMB',
'Auto-Repayment by Foreign Currency bought using RMB' shall start effective on current month if registered between the 1st and the 24th, effective on the next calendar month if registered after the 25th. 'Auto-Repayment by Foreign Currency' shall start effective on current month if registered between the 1st and the 23rd, effective on the next calendar month if registered after the 24th. Party B shall complete all the processing once Party A successfully modify or cancel the auto-repayment. Party B shall not offset any account for Party A.
6. Repayment options for Peony International Quasi Credit Card and Peony Credit Card are 'Full' or 'Minimum'.
(1) Full: Any amount due in last month will be repaid automatically by Party B on behalf of Party A. Repay Amount = arrears in last month's Statement + cash withdrawn from the beginning of the month till Deduction Day/amount for transfer ¨C repayment from the beginning of the month till Deduction Day. Party B will not make any auto-repayment for current month if no amount due in last month but there are spending, cash withdrawal or transfer in this month.;
(2) Minimum: Party B shall make auto-repayment on behalf of Party A according to the minimum repayment stated in last month's Statement.
7. Party B shall make deduction for Peony International Quasi Credit Card and Peony Credit Card on the 25th of each month for 'Auto-Repayment by RMB' or 'Auto-Repayment by Foreign Currency bought using RMB', and make auto-repayment deduction for foreign currency account in International Card using foreign currency account in International Card. Party B shall make auto-repayment deduction on the 24th of each month for foreign currency account in International Card using foreign currency account in non-International Card. Party A must warrant that Transferring Account is in normal status and have enough balance for Party B to make auto-repayment on the Deduction DayNo overdraft in the Transferring Account for the deduction. Party B will stop making any deduction if the balance in the Transferring Account is insufficient to repay Receiving Account in full. Party A must repay before the deadline through other means or inform Receiving Account when the repayment arrives. Party A shall be liable for all losses incurred. In the event that Party B fails to make deduction arising from the abnormal status of Party A's account, Party A must repay before the deadline through other means or inform Receiving Account when the repayment arrives. Party A shall be liable for all losses incurred.
8. Party A that buys foreign currency using RMB to automatically repay shall have exchange rate quoted by Party B on the Deduction Day. Party A that uses foreign currency account in non-International Card to automatically repay foreign currency account in International Card can only specify its Transferring Account as either 'Cash FX' or 'TT FX'. Party B only makes deduction on the type of FX account specified by Party A.
9. When Transferring Account is a Peony International Card, Peony Credit Card or Peony Quasi Credit Card, Party B will process the auto-repayment according to the changed Card No. in case of any new Card No. is issued to replace the lost Transferring/Receiving Account. When Transferring Account is an account of other type, Party A must timely change the information given to Party B in case of any new Account No. /Card No. is issued to replace the lost Transferring/Receiving Account.
10. Party A or holder of Receiving Account must cancel auto-repayment first before canceling the account. Otherwise, all loss incurred shall be borne by Party A.
11. Auto-Repayment Agreement herein shall be and remain in full force unless otherwise amended by Party B, service stopped by Party B, auto-repayment cancelled by customer of Receiving Account.
Declaration: I acknowledge having read, understood and agreed the foregoing Auto-Repayment Agreement. I hereby certify that the information given is true and has been verified against ICBC printed without errors.
