General Terms and Conditions of Bank Service (hereinafter - the Terms and Conditions)

  1. Definitions:

Unless otherwise specified by the Agreement and/or Other Agreement Associated Thereto, or otherwise isrequired by its context, the below definitions have the following meanings in the Agreement and/or Other Agreement Associated Thereto:

1.1.Authorization – a procedure of identification of the Customerthrough the Access Codes on the basis of which the Bankprovides the Banking Product service:

1.1.1.Simple Authorization – Authorizationthrough theUser Name andPassword.

1.1.2.Complex Authorization - Authoriation through theUser Name, Passwordand Digipass orOTAC received through the SMS or electronic email.

1.2.Automatic Payments – Banking Product defined by the Annex#3 to the General Terms and Conditions.

1.3.Extract-the information on the Transactions conducted on the Account.

1.4.Account – account of the Customerin the Bank:

1.4.1.Single-currency Account - Account with funds placed in one specific currency.

1.4.2.Multi-currency Account - Account with funds placed in the several currencies separately, representing one account.

1.4.3.Current Account-Standard Current Account and/or Universal Current Account, on which funds of the Customer are being placed and which are managed by the Customer in order to make Payments or for other purposes.

1.4.4.Standard Current Account- Current Accountfor execution oftheTransactions, and with no Card linked to it.

1.4.5.Universal Current Account - Current Account, with theCard linked to it and which makes possible to execute theTransactions at the moment of the Agreement conclusion.

1.5.Unauthorized Overdraft- negative balance on the Universal Current Account occurring without the Bank’s consent/permission.

1.6.Bank- JSC Bank of Georgia, identification code: 204378869, head office located at the address: 29a Gagarini Str., Tbilisi, Georgia, Website: e-mail: , registration number: 06/5-07.

1.7.Automatic Teller Machine (ATM)- self-serving electronic software-driven device which allows theCustomerto withdraw cash as well as to execute other Transactions defined by the Legislation and the Bank.

1.8.Cash Withdrawal Limit from ATM - maximum amount of cash allowable to withdraw from the ATM within the period (27 hours period unless otherwise decided by the Bank) defined by the Bank.

1.9.Card-main and/oradditionam and/or contactless cardinternational plastic card related to the Universal Current Account:

1.9.1.Main Card-firstCard existing for managingthe Universal Current Account.

1.9.2.Additional Card - Card existing for managingthe Universal Current Accountexcept of the Main Card, additionally issued by the Bank to the Customer for handing over to the Customer and/or other individual nominated by the Customer.

1.10.Card Security Service - Banking Product defined bytheAnnex#12 to the General Terms and Conditions.

1.11.Card 3D Security-Banking Product defined by the Annex#14 to the General Terms and Conditions.

1.12.Card Delivery Service at the Place of Stay - Banking Product defined by the Annex#19 to the General Terms and Conditions.

1.13.Transfer - transfer of sums from the available funds on the Customer’sAccount to the bank account of the Receiverthrough the non-cash payment.

1.14.Application–Customer’s application to the Bank (in the form established by the Bank) about providing and/or suspending/terminating/changing the Banking Product/BankingService according to the conditions specified in the same application.

1.15.Representations and Warrantees – the Customer’s representations and warranties included in the Article 6 of the General Terms and Conditions.

1.16.Order- any instruction and/or order of the Customer given to the Bank within the frameworkprovision of the Banking Product.

1.16.1.Payment Order - Order given by the Customer or the Reveiverto the BankregardingPaymentTransaction.

1.17.Additional Terms and Conditions – terms and conditions set out by the Annex “A” to the General Terms and Conditions(if any) including all changes and amendments.

1.18.Annex – unless explicitly specified otherwise in the Agreement and/or Other Agreement Associated Thereto, Annex(s) to the Agreement and/or Other Agreement Associated Thereto and/or the Application (as the context may require), forming integral part of the Agreement and/or the Other Agreement Associated Thereto and effective in conjunction with them.

1.19.Additional Cardholder–theperson defined by the Customer who holds and uses theAdditional Card.

1.20.Remote BankingService- Internet Banking, Mobile Banking, Telephone Banking, Tskapplication, ATM, Self-servingTerminal, Epay.ge, Esesxi.ge, SMS Banking.

1.21.Elva - Banking Product defined by the Annex#15 to the General Terms and Conditions.

1.22.Electronic Moneybox - Banking Product defined by the Annex#16 to the General Terms and Conditions.

1.23.Website -website(s)used by the Bank.

1.24.Self-serving Terminal - the device allowing the Bank to executethe specifiedTransactions.

1.25.Legislation- effective legislative acts and subordinate acts of Georgia and the international agreements and covenants included in the system of the legislation of Georgia.

1.26.E-mail Banking-the Banking Product defined by the Annex#9 to the General Terms and Conditions.

1.27.Internet Banking-the Banking Product defined by the Annex#7 to the General Terms and Conditions.

1.28.Customer-person whose name, identification data and other information is given in the Application and whose order is executed by the Bank.

1.29.Conversionof Money- purchase of one currency in exchange for another.

1.30.Credit -the Banking Product defined by the Annex#13 to the General Terms and Conditions.

1.31.Courier Service- the Banking Product defined by the Annex #17 to the General Terms and Conditions.

1.32.Limit- financial, quantitative or any other limit/restriction/prohibition established by the Bank for the usage of the Banking Product andexecution ofthe Transactionby theCustomer.

1.33.Other Agreement Associated Thereto (or Other Agreement Associated to the Agreement) – according to the Agreement and on its bases: (a) insurance agreement, security agreement, surety agreement and/or documents drew up between the Bank and the Customer or the Bank/Customer and the Third Party execution and/or the issuance of which is stipulated by the Agreement and/or is carried out on its basis; and/or (b) any other agreements between the Bank and the Customer or the Bank/Customer and the Third Party executed on the basis of terms and conditions of the Agreement in order to use bank service defined by the Agreement and/or for the purpose of security.

1.34.Third Party- any Personexcept the Customer and the Bank.

1.35.Receiver- a Person for the benefit of which the Payment Transaction /Transfer is being implemented.

1.36.Permanent Arbitration Court - Dispute Resolution Center Ltd., identification code: 204547348; website:

1.37.Standing Order - Banking Product defined by Annex#4 to the General Terms and Conditions.

1.38.Banking Service -serviceoffered to the Customer by the Bank in compliance with the Agreement.

1.39.Mobile Banking-the Banking Product defined by Annex#8 to the General Terms and Conditions.

1.40.Party/Parties-the Bank and/or the Customer and/or the Additional Cardholder as the context may require.

1.41.Overdraft- overspendingthefunds existing on the Accountsby the Customer.

1.42.Transaction - any Bank Service provided by the Bankunder the Customer´s Order:

1.42.1.Payment Transaction-deposit, transferor withdrawal of the funds initiated by the Customer or the Receiver.

1.43.Penalty-the amount of money to be paid to the Bankin case of non-performance or improper performance of the financial and/or other obligation by the Customer under the Agreement and/or Other agreement Associated Thereto.The amount and terms are defined by the Agreement and/or OtherAgreement Associated Thereto.

1.44.Person - natural person(s), legal entity(ies) and/or other organizational formation(s) under the jurisdiction of Georgia or other countries, not representing legal entity(ies).

1.45.Banking Day- any day (except Saturday, Sunday or official holidays defined by the Legislation), when the commercial banks are operating in Georgia, are open for their regular activity.

1.46.Banking Product- types of banking products defined by the Article 4 of the General Terms and Conditions, standard conditions of which are posted on the Website.

1.47.Commission Fee- the amount of money payable by the Customer to the Bank for the use of the Banking Product, the size of which is defined by AnnexNo. 1, AnnexNo. 2 to the General Terms and Conditions and/or AnnexNo.13 related to the loan, while the procedure of charging and paying the commission fee is defined in accordance with the conditions established by the Bank.

1.48.Telephone Banking- Banking Product defined by Annex#18 to the General Terms and Conditions.

1.49.Universal Identifiers -combination of data provided by the Bank to the Customer after the registration of the Customer in the CIS, through which the Customer is allowed to use Remote Banking Service:

1.49.1.User Name-one of the parameters automatically defined by the CIS which is unique and necessary for the Authorization, and changable at any time by the Customer througthe Remote Banking Service.

1.49.2.Password - combination of digits generated by the CISused for the Authorization, which shall obligatory change by the Customerafter its first usage.

1.50.Force Majeure - acts of God, fire, cut off of electricity supply, failure of equipment, software fault, hostilities, administrative - legal act and/or other circumstances insurmountable by the Bank and beyond its control which: a) are not related to the Bank’s mistakes or negligence, b) started and developed after entering into force of the Agreement and c) directly affect the whole and/or proper fulfillment of the obligations under the Agreement.

1.51.Money Transfer-Payment Transactionexecutedfor the Customer without opening Accounts forhim/her and/or the Receiverunder which funds are delivered directly to the Receiveror to theother provider, acting on behalf of the Receiver,formaking delivery to the Receiver.

1.52.Centralized Identification System (CIS)-the Bank system in which the methodoftheCustomer’sAuthorization and the Customer’sUniversal Identifiers are registered allowing the Customer to use Remote Banking Services.

1.53.Centralized Remote Banking Services - part of the services (Internet Banking, Mobile Banking, Telephone Banking, Tskapplication) included in theRemote Banking Services which is accessible through Universal Identifiers registered by the Customer in the CIS.

1.54.Affiliates – in relation to the Bank, any company whose stocks, shares and/or less than 50 (fifty)% of votes are directly or indirectly held or otherwise managed by the Bank.

1.55.Purchase Limit - maximum daily limit set out for purchasing goods/services by the Customer at merchans or other service providers.

1.56.Access Codes - any kind of the confidential information provided by the Bank to the Customer for the safe usage of the Banking Product/Banking Service.

1.56.1.One-time Authorization Code (OTAC) - combination of the randomly generated digits used for the performance and confirmation ofthe Transactionsthrough theRemote Banking Servicesand/or for confirmation of the Operations defined by the Bank.

1.56.2.PINCode -personal identification number handed over to the Customer by the Banktogetherwith the Card.

1.57.Spending Limit - total volume of spending funds (including cash withrawal) from the Card.

1.58.Group Company- BGEOGroup Plc (identification/taxregistrationcode: 6232931314569A) or any other enterprise and organizations in which BGEOGroup Plc directly or indirectly holds stocks or shares.

1.59.Agreement- (a) Application submitted by the Customer to the Bank; (b) General Terms and Conditions; (c) AnnexNo.A to the General Terms and Conditions concluded between the Parties (Additional Conditions) in the presence of it; and (d) any additional Annex and/or Application, drawn up between the Parties in the future, including occasional changes and additions to the said documents.

1.60.Digipass–the Banking Product defined by the Annex#20 to the General Terms and Conditions.

1.61.Pay Sticker-the Banking Product defined by theAnnex #11 to the General Terms and Conditions.

1.62.SMS Banking–the Banking Product defined by theAnnex#6 to the General Terms and Conditions.

1.63.Tskapplication - theBanking Product defined by theAnnex#10 to the General Terms and Conditions.

1.64.Financial Number – Mobile phone number under Customer’s ownership, which is registered as a unique number in the System of the Bank by sending One-time Authorization Code(OTAC) on the same number for the purpose to recieve information about usage of Bank Products/Bank Services , also one-time codes and/or Access Codes sent by the Bank.

  1. Subject of the Agreement
  2. According to the Agreement the Bank is obliged to provide the Customer with the Banking Service and/or the service related to the Banking Product in exchange for which the Customer is obliged to fulfill the terms and conditions and pay the BankCommission Fee (if any), in accordance with thisAgreement.
  3. For using a number of the Banking Products or for getting theBanking Services the Customer is obliged to file the relevant Applicationto the Bank. In case the Customer has no any BankingProduct defined by the Annexes of the General Terms and Conditions, relevant Sub-paragraphs(s) of the General Terms and Conditions (their Annexes) shall not apply to the Customer. Such Annex(es)/paragraph(s) shall be activated for the Customer together with the right granting to use the specified BankingProduct.
  1. General Terms and Conditions of the Banking Product/ Banking Service
  2. The National Bank of Georgia supervises the Bank. ItsWebsite is:
  3. The National Bank of Georgia is not responsible for improper performance of the Bankobligations, as the provider.
  4. The Order:
  5. The time of the receipt of the Payment Order is the moment when the Bank receives the Payment Order, regardless of it’s initiator,Customer or the Receiver.
  6. Payment Order submitted to the Bankon a non-banking day, shall be deemed to have been received on the next Banking Day. Therefore, transfers of foreign currency out of the Banksubmitted to the Bankafter 18:00 pm on the Banking Day, as well as the transfers under 10,000 (ten thousand) GEL submitted to the Bankafter 15:45 pm and the transfers over GEL 10,000 (ten thousand) GEL, sybmitted to the Bankafter 16:55 pmshall be deemed accepted on the following Banking Day.
  7. The Bankprovidesexecutionof the Payment Order within 2 (two) days from the date of its submission to the Bank, except for cases provided by the Legislation.
  8. The Payment Order may not be executedupon itssubmission to the Bank, whereas the Bankfully charges the Customer's Account (s) for the corresponding fundswhen receiving saidOrder.
  9. The Orderregarding thePayment Transactionmust contain details specified under the Order No. 8/04 of January 22, 2015 of the President of the Nnational Bank of Georgia on the Rules for the Executionof the Payment Transactions, for itsproper fulfillment.
  10. The electronicPayment Order must definitely contain at least the following requisites:
  11. Account number from which the Payment Ordershall be executed;
  12. Amount of money and it’s currency;
  13. Accountnumber of the Receiver;
  14. Other additional details statedby the Bank,specific for this kind of PaymentOrder.
  15. For the executionof the Transaction the Bank and the Customer must sign theOrder, except of electronic PaymentOrder.
  16. The Bankis entitlednot torecievethe Order for executionand/or to refuse the execution of the Order if:
  17. the Orderdoes not comply with the requirements established by the Legislationand/or the rules and procedures established by the Bank (including the stipulated conditions of the agreement concluded with the intermediary bank in case of international transfers);
  18. the Ordercontains inaccurate information;
  19. the funds existing on the Account, including CommissionFees, are insufficient for the Order execution or allowedOverdraft limit required to execute the Order is spent;
  20. the Bank has not received the Order;
  21. thefundsor a part thereof required for the Order execution is freezed, including freezingsby the Bank;
  22. theTransactionexceeds the Limit set out by the Account (s) or the Bank;
  23. the fundsexisting on the Account are subject to public-law restrictions;
  24. the Bank suspects fraud or illegal action;
  25. there is any such problem/circumstance, as a result of which the Order execution becomes impossible.
  26. The Customer is responsible for the correctnessof each Order.
  27. Remote Banking Service:
  28. The Customeris entitled to use the Remote Banking Service(except for SMS Banking and E-mail Banking) upon his/her registration in the CIS.
  29. The Mobile Banking, Telephone Banking, Tskapplication are automatically activated through the service center and the ATMfrom the moment of the registration of theCustomer in the CIS, as well as all Remote Banking Service activates automatically in case of registration of the Customer in the CISvia the Mobile Banking orthe Internet Banking (from the following Website: ibank.ge).
  30. The Customer activates the Remote Banking Servicethrough the Universal Identifiers.
  31. The Customershould not leave the device for connecting to the Remote Banking Service inadvertently, when it is connected to the network.
  32. During the period of using Remote Banking Service, the Customer undertakes not to leave the corresponding device accessible tothe Remote Banking Serviceand not to allow the usage of this device by ThirdPartytill the Customer completes the usage of the Remote Banking Serviceand persuades that use of it is impossible by Third Parties.
  33. The Customeris responsible for any Transactionperformed through theRemote Banking Services in his/her use.
  34. The Bank is not liable if the Customer is not provided with the Remote Banking Service, for reasons beyond the Bank's control, including the cases of interruption in the Banking System or in the operation of the Remote Banking Services, in order to update and/or improve the system.
  35. The Customergives the Bankauthorization to fulfill all verbal or electronic instructions issued by the Customer (or which appear to have been issued by the Customer) via the Remote Banking Services.
  36. The Customer agrees and gives the Bankauthorization to open the Account for the Customerin accordance with the rules and conditions established by the Bank under the Ordersubmitted by the Customerwithin the scope of the Remote Banking Service.
  37. The Customer’s consent to the conditions of the agreement sent via the Remote Banking Service shall be the equivalent to the Customer’s signature of the same agreement and such agreement shall be deemed effective upon receipt of the Customer’s consent by the Bank via the Remote Banking Service.
  38. When performing the Remote Banking Services, the Bankshall not be responsible for:
  39. any damages caused byany failure as a result of a malfunction of the Customer's devices and software.
  40. a virus or other similar problems that may be related to the usage of Remote Banking Service.
  41. the damage/loss caused or expected as a result of:
  42. incompatibility of the Customer’s software or any type of devices with the Bank system.
  43. damage/destruction of the Customer’s data/documents, software and any type of the devices while using the Remote Banking Services.
  44. unauthorized usage of the Access Codes by any Person;
  45. theThird Partyconnection to the telephone or internet communication between the Customer and the Bank;
  46. if the system associated with the implementation of theRemote Banking Services is malfunctioning, including cases of technical malfunction,might be caused by the Bank.
  47. The registration/recept and/or restoration/replacement of the Universal Identifiers may be carried out by the Customer in the service center and/or ATM (with the Card), via the Internet Banking (only from the Website: ibank.ge) or the Mobile Banking, at the discretion of the Bank.
  48. In order to receive theRemote Banking Services, the Customer can be entrust to perform the SimpleAuthorizationor the Complex Authorization.