General Terms and Conditions Governing Accounts These General

General Terms and Conditions Governing Accounts

These General Terms and Conditions Governing Accounts

("Terms") of ICICI Bank Limited, Bahrain Branch ("Bank")

contain the terms and conditions applicable to the

establishment and operation of accounts with the Bank

which may be opened from time-to-time by the customer(s)

with the Bank. The Terms shall be read in conjunction with

the relevant account opening form(s) of the Bank, the terms

of which are incorporated herein by reference.

1. Establishing a Relationship

Applicant(s) desiring to open a Relationship with the Bank

need(s) to execute such agreements/ forms and provide

and furnish such documents as may be required by the

Bank. The documents listed in the application forms are not

an exhaustive list of requirements and the Bank reserves the

right to require submission of such other documents as may

be determined by the Bank on a case to case basis.

The Relationship shall be opened only when the documents

submitted to the Bank are complete in all respects to the

satisfaction of the Bank. Acceptance of documents by the

Bank does not confer any right to the applicant to open the

relationship. The applicant or the customer as the case may

be, is bound to furnish any further documents or

rectification of the documents already submitted to the Bank

as and when required by the Bank. The Bank is entitled to

hold back or suspend the relationship or part or whole of

the services offered / provided or to be offered or provided

to the applicant or customer till receipt of the documents or

rectification as sought by the Bank.

The Bank will review the documents submitted by you

periodically and in any event every 3 years or such other

period as may be decided by the Bank. At the end of the

review period, you are under an obligation to provide the

latest copy of your valid documents (e.g. the Residence

Permit, Identity Proof, Address Proof etc.) or updated

versions of such documents submitted by you earlier or any

other document as may be determined by the Bank from

time to time. The Bank reserves the right to freeze your

account, upon failure to submit the aforementioned

documents.

Please visit our Manama Branch with the relevant

documents to reactivate any frozen account.

Each Relationship with a customer is represented by a

Customer Identification No. ("Cust ID"). For e.g. a

Relationship in single name is different from a Relationship

in joint names. Each combination of

Relationship is distinct and unique and hence is identified

by a separate Cust ID.

2. Operating Accounts

Relationships can be opened in the names of:

a) An individual in his/ her own name;

b) A minor (person less than 21 years of age) under

guardianship;

c) Two persons in their joint names. More than two persons

may be permitted to open account(s) in their joint names

at the discretion of the Bank;

A company, partnership firm, trust, association or other

entity (registered or constituted inside Bahrain) as may be

permitted by the Bank in their respective names. The Bank

may permit fiduciary accounts in the name of a trust, firm of

solicitors or accountants or such other intermediaries as

may be determined by the Bank subject to satisfaction of

the ‘Know Your Customer’ (“KYC”) and Anti- Money

Laundering requirements.

All the accounts under a relationship (Cust ID) will be

compulsorily operated as per mode of operation as

specified in the account opening form.

In case of joint accounts, any change in operational

instructions/ signing conditions or any other information

with regard to the application form is to be given by all the

joint account holders irrespective of mode of operation.

Each of the Individuals constituting the customer hereby

authorizes and empowers the other to endorse for deposit

and deposit or withdraw with the Bank any or all cheques,

notes or other instruments for the payment of money,

payable and purporting to belong to both/all of them.

Should any such instruments be received by the Bank

without having been so endorsed, then the Bank is hereby

authorized to endorse any such instrument on behalf of the

customer and to credit the same to the account.

Any overdraft or other obligations incurred on the account

or otherwise shall be the joint and several liabilities of each

and every individual constituting the customer.

Accounts in the names of a company, partnership firm,

trust, association or other entity shall be operated by the

authorised signatory (ies) of the respective entities as

specified in the application form/resolution submitted by

such entity at the time of opening the account. Changes to

authorised signatories of such entities shall be recognized

only upon due submission of the requisite authorisations/

resolutions approving such changes to the satisfaction of

the Bank.

The Bank may send through courier or post from time to

time to the mailing address furnished by the customer,

statements of account, balance confirmation certificates,

and/or such other items relevant to the account. Hence, it is

incumbent upon the customer to inform the Bank of any

changes in mailing address immediately. The Bank will not

be responsible for any loss, damage or consequences for

wrong delivery of the above items arising out of the

customer not informing the Bank of its change in mailing

address.

The Cust ID is common for all accounts opened in the same

name and capacity, in addition to unique account number

for each account. Cust ID, once allotted, needs to be quoted

when opening any further accounts in the same name and

capacity. The Cust ID and account number is to be quoted

in pay-in-slips issued by the customer and in all

correspondence.

The customer (or guardian, in case of minor accounts or the

trustee in case of trust accounts or the relevant intermediary

in case of any other fiduciary account or the authorised

signatories in case of corporate accounts) is expected to

examine the entries in any statement of account or balance

confirmation certificate that may be sent to it by the Bank

and within 14 days of receipt of the same, to draw the

attention of the Bank to any errors or omissions that might

be discovered. If no such notification is received by the Bank

after the expiration of the said 14day period, the details and

information contained in such statement of account or

balance confirmation certificate shall be conclusive

evidence of the correctness of the contents and entries

therein against the customer or any person claiming under

or through the customer without the requirement for any

further proof. The Bank does not accept any responsibility

for any loss arising out of failure on the part of the customer

to examine the entries in the statements and report, within

the fourteen-day period stated above, any errors or

omissions to the Bank.

A minimum deposit may be prescribed for opening any

account under a relationship. A minimum average balance

during a month may also be required to be maintained in

accounts. Failure to maintain the prescribed average

minimum balance will attract additional service charges as

may be stipulated by the Bank from time to time.

The Bank shall not be responsible for any unauthorised

interception of e-mail or any other communication through

whatever mode to or from ICICI Bank.

3. Conduct of Account

Operations in the account shall be permitted only after the

activation of the account and the customer who has opened

an account with the Bank should get a confirmation from the

Bank as to the activation of the account. An account shall

not be activated unless all procedural formalities in this

regard are completed. The Bank shall not be responsible or

liable for any consequences or losses suffered to the

customer on account of any operation or attempted

operation of the account prior to the activation of the

account.

Transactions are entertained normally during banking hours

at the Bank.

If any payment instruction is required to be dishonoured for

insufficient balance in the account or for being in excess of

arrangements, a penalty/charge will be levied. Similarly, if

any cheque or other instrument deposited by the customer

is returned unpaid, a service charge will be imposed.

No overdrawing is permissible in accounts unless an

overdraft facility has been specifically sanctioned by the

Bank.

Standing instructions are subject to service charges

stipulated by the Bank from time to time. Bank has authority

to debit the accounts to recover any amount credited

erroneously

4. Collection Facility

Cheques, drafts, bills, dividend / interest warrants and other

instruments issued in favour of customers may be accepted

for collection to their account subject to service charges.

The Bank shall not accept A/C payee cheques of

nonaccount holders for collection. Collection services may

be provided by availing of similar services of other banks.

The Bank does not accept any responsibility for loss, delay,

mutilation or interception of the instruments in postal or

courier transit or by such other banks. The Bank does not

accept or share any responsibility for realisation of such

instruments or for the genuineness, validity or correctness

of the signatures or endorsements thereon. Withdrawals

against such instruments are permissible only on realisation

by the Bank. The Bank shall not accept for collection any

cheques made out to a payee who is not the customer, and

marked “A/c Payee” or words to similar effect.

The Bank has the authority to debit the accounts to recover

any amount credited erroneously.

Local cheques, etc., may be required to be tendered for

collection sufficiently early in the day as required vis-a-vis

the local clearing house timings. The clearing of cheques

and withdrawals against cleared cheques will be normally

permitted only against cleared balances as per the Bank's

prevailing practices.

5. Closure of Relationship or Account and Service

Charges

The Bank reserves the right to terminate the Relationship or

close the account(s) at any time and for any reason after at

least 15 days’ prior notice to the customer at its last known

address without assigning any reasons thereof and without

any liability.

However, the Bank reserves the right not to give any such

notice where in the opinion of the Bank there exist certain

exceptional circumstances which necessitate closure of

account (e.g. where the account is used for criminal,

terrorist or anti money laundering activities or where the

account is required to be terminated to comply with the

regulatory/statutory requirements etc.).

The Bank may discharge its entire liability with respect to an

account which it closes by deducting a service charge as

may be imposed by the Bank from time to time and mailing

to the customer's last known address a draft or cheque in

the currency (ies) of the account without recourse to the

Bank as drawer, payable to the customer's order in the

amount of the then credit balance in the account.

The Bank further reserves the right to close or freeze the

account(s), after due notice to the customers for reasons

which may include, but are not limited to, the following:

a) In case any of the documents furnished towards Identity

and address proof are found to be fake / forged / defective;

b) In case fraudulent / forged / fake bank drafts or any such

instruments are attempted to be cleared / cleared through

the account;

c) In case of frequent returns of inward / outward cheques

in the account;

d) In case a debit balance for reasons, including but not

limited to, non-repayment in case of facilities offered by

the Bank, where repayment is to be made through

customer’s account; reversal of wrong credit, etc., is

allowed to continue for more than 90 days in the account;

e) Improper conduct of the account in terms of volume /

type of transactions;

f) For unsatisfactory conduct of the account.

The customers shall be solely liable for return of cheques/

dishonouring of any instruments consequent to such

closure and all costs / charges arising out of such closure /

freezing of the account(s). Upon closure of the account(s)

for any of the reasons specified above or otherwise, the

customer shall take steps to collect the balance amount in

the account, if any, and till such time the customer collects

such amounts, the Bank reserves the right to keep such

amounts in a special office account without any interest

being payable on the same.

6. In event of Demise of a Customer and Deceased

Claims

In accordance with the guidelines issued by the Central

Bank of Bahrain, in the event of demise of a customer who

holds a single/joint account with the Bank, the Bank will

freeze the accounts of that customer upon receipt of the

information regarding the death of any of the applicants to

the account the Bank shall stop all drawings from the

account until the legal successors of the deceased appoint

their representative in accordance with the Order (as

defined below). In the event of the death of any of the

individuals constituting the account holder in case of a joint

account, the surviving individual(s) shall notify the Bank of

the death of the deceased individual within 10 days from the

date thereof.

Such information can be received mostly in the following

manner:

a) Any person can approach the Bank with an information

about the death: The Bank will ask for a death certificate.

But in case the death certificate is not provided, a written

information to be obtained, along with copy of the CPR of

the person providing the information.

b) An information is received through any other source –

News Paper, Television/media reports etc.

c) Claimant approaches the Bank with a death certificate

and a court order issued by the Ministry of Justice.

d) Central Bank of Bahrain (CBB) or a local Court or authority

in Bahrain informs the Bank about the death of a customer.

The Bank shall not be under any obligation to release

monies standing to the credit of a deceased account

holder's account, save on production of the following

documents:

a) Valid death certificate of the relevant customer issued by

a government authority.

b) A duly certified and translated copy of an order or

judgment, etc. issued by the Ministry of Justice in the

Kingdom of Bahrain (the “Order”) in this regard. The Order

must (a) certify the demise of the account holder; (b) name

the exclusive legal successors of the deceased account

holder; (c) confirm that the person(s) seeking withdrawal of

the monies are entitled to do so; and (d) if applicable, state

the manner and proportion in which such monies may be

divided amongst the legal successors. In case, the Order

allows a certain individual to act collectively on behalf of the

certified legal successors, then the Order must also record

the consent of all the legal successors named therein that

such an individual may act on their collective behalf.

c) The duly filled and signed application Form can be

obtained from Bahrain Branch, requesting for settlement of

accounts and stating that there are no pending instructions

(Pending instructions are those which have been issued by

the deceased prior to their demise and are yet to be

executed by the Bank), signed by all the claimants.

d) Identity documents - CPR along with Passport or Driving

License of the claimant(s) named in the Order. A copy of all

such documents are to be provided to the Bank.

Once all the required documents are received, the Bank will

initiate the settlement process.

In case the Order is for multiple beneficiaries and the

claimant wants the funds / monies to be settled in the name

of single beneficiary, such requests will be declined and the

Bank will settle the deceased claim as per the Order.

If any debit instructions are received for any of the accounts

under the relationship, the Bank or any branch of ICICI Bank

Limited shall check whether the instructions were issued

before the date of demise (as per the Death Certificate /

Public Notice) or after the date of demise. Branch will

reserve the right to decline such instructions in absence of

satisfactory evidence.

Any instruction issued / received on or after the date of the

death will be rejected. The disposition of any credit balance,

security or property available under the account, and

provided that they are unencumbered, shall be governed by

and carried out in accordance with the Order after

recovering any outstanding loan/overdraft amount(s). In

case of joint account, the surviving holder/s is/are under an

obligation to clear the outstanding amount(s) as and when

specified by the Bank.

In cases where an inheritor is a minor, the disposition of the

credit amount will be done as per the instruction(s) specified

in the Order, provided that the Order specifically refers to

their inheritance.

The treatment of credits received for the account which is

frozen in event of death notification will be at the Bank or

any of ICICI Bank Limited branch’s discretion.

The Bank may decline any withdrawal from an account

(whether sole or joint) where the customer has died till the

Bank has received satisfactory evidence as to payment of

estate duty costs, fees, duties taxes (as applicable) and such

other matters as it may reasonably require, unless

otherwise specified in the Order.

Premature closure charges in case of deposits shall be

waived for deceased cases settlement. However, the

currency conversion charges, or any out-of-pocket

expenses as applicable when the settlement amount is

remitted to the executor / claimant/ administrator's account,

shall be borne (deducted out of settlement amount) by the

claimant/ executor / administrator.

7. Banker's Lien and Right of Set Off

The Bank shall have the right of lien, irrespective of any

other lien or charge, present as well as future on all the

deposits held/ balances lying in any all the accounts of the

customer, whether in single name or joint name(s), to the

extent of all outstanding dues, whatsoever, arising as a

result of any of the Bank's services extended to and/or used

by the customer or as a result of any other facilities that may

be granted by the Bank to the customers. The Bank is

entitled without any notice to the customer to settle any

indebtedness whatsoever owed by the customer to the

Bank, whether actual or contingent, or whether primary or

collateral, or whether joint and/or several, including without

limitation indebtedness under any indemnity given by the

customer to the Bank hereunder or under any other

document/ agreement, by adjusting any deposit(s) or

transferring monies lying to the balance of any account(s)

held by the customer with the Bank, notwithstanding that

the deposit(s)/ balances lying in such account(s) may not be

expressed in the same currency as such indebtedness. The

Bank's rights hereunder shall not be affected by the

customer's bankruptcy, death or winding up.

Further, the Bank is also entitled without notice to the

customer to sell any of the customer's securities or

properties held by the Bank on deposit or otherwise by way

of public or private sale without any judicial proceeding

whatsoever and retain from the proceeds derived therefrom

the total amounts outstanding to the Bank from the

customer, including costs and expenses in connection with

such sale.

In addition to the Bank's rights of set-off, combination and

consolidation of the customer's account(s), lien or any other

right which it may at any time be entitled whether by

operation of law, contract or otherwise, the customer

authorises the Bank to apply (without prior notice to the

customer) any credit balance (whether or not then due) to

which the customer is at any time beneficially entitled

(whether singly or jointly) on any account, in the customer's

name or jointly with any other person or persons, with any

branch or office of ICICI Bank Limited (whether in Bahrain or

elsewhere) towards the satisfaction of any or all of the

customer's liabilities (whether such liabilities be present or

future, actual or contingent, primary or collateral, or several

or joint) under the Terms or for the customer's account(s) or

under the terms of any other facilities that may be granted

by the Bank to the customers. For this purpose, the Bank is

authorised to use all or part of such credit balance to

purchase (at prevailing exchange rates quoted by the Bank)

other currencies as may be necessary to effect the

application, provided always that the Bank shall not be

under any liability to the customer whatsoever in respect of

any loss arising from any conversion of any amount from

one currency to another or fluctuations in the rate of

exchange for which any currency is for this purpose

converted into any other currency.

In respect of a joint account, the Bank shall be entitled to set

off any sums standing to the credit of such joint account

against the debit balance in other accounts which may be

held by one or more holders of such joint account.

The Bank shall not be under any obligation to exercise any

of its rights under this Clause.

The abovementioned rights of the Bank are without

prejudice to the obligations of the customer to pay to the

Bank when due all its indebtedness and without prejudice

to any other rights that the Bank may have against the

customer for recovery of outstandings from customer to the

Bank.

The Bank shall be entitled to withhold payments out of the

customer's account or dishonour the customer's

instructions in case any amounts outstanding from the

customer to the Bank are not paid when due.

8. Electronic Instructions

The Bank does not normally act on fax and other electronic

instructions from its customers. However, the customer

may authorise the Bank to execute their instructions by

email, fax and/or other electronic means of communications

upon specifically indemnifying the Bank for carrying out fax

and/or other electronic instructions in a form and manner

acceptable to the Bank. Even with such indemnity, the Bank

reserves the right not to act on any fax or electronic

instructions in its sole discretion. In any case relationship

and account opening documents, KYC documents and

address change instructions given by fax or other electronic

form must be mailed in original hard copy to the Bank by

the customer on the same day of receipt by the Bank of such

fax or other electronic instruction. The Bank may, in its sole

discretion, insist for submission of documents in original

and in physical form for customers’ instructions on a case

to case basis.

9. Indemnity and Default Interest

The Bank shall not be liable for any failure to perform any

obligation contained in the Terms or for any loss or damage

whatsoever suffered or incurred by the customer

howsoever caused and whether such loss or damage is

attributable (directly or indirectly) to any dispute or any

other matter or circumstance whatsoever.

The customer shall indemnify the Bank as collecting banker

for any loss or damage the Bank may incur or suffer by

guaranteeing any endorsement or discharge on a cheque,

bill or other instrument presented for collection and such

guarantee as given by the Bank shall be deemed to have

been given in every case at the customer's express request.

In the event that the Bank agrees, at its sole discretion, to

collect/ purchase/ negotiate/ discount cheques (including

without limitation any USD cheque or cheques drawn on

American banks or other financial institutions in the United

States of America (“USA”)) drafts, bills, dividend / interest

warrants and other instruments issued in favour of the

customer ("Instruments"), in consideration of the Bank

agreeing as aforesaid and/or crediting or agreeing to credit

the proceeds thereof to the customer's account or any

account and/or purchasing, discounting, negotiating or

agreeing to purchase discount or negotiate Instruments

from the customer, the customer will indemnify the Bank

against all moneys, liabilities, losses, costs, damages,

demands, proceedings, claims and expenses of whatsoever

nature (whether actual or contingent) including legal costs

on a full indemnity basis paid incurred or suffered by the

Bank under or arising from or in connection with the

Instruments or the enforcement of the rights herein,

whether or not the same results from the commission of any

breach of contract or duty on the customer's part or the part

of any party to the Instruments and whether or not the Bank

shall have any legal right to claim or have availed itself of

the Bank's legal remedies against the customer or any party

to the Instruments and notwithstanding that the Bank may

have received the proceeds of the relevant Instrument

whether on collection or otherwise or paid the proceeds

thereof to the customer or that the customer has altered the

customer's position after receipt of the proceeds thereof.

The customer shall keep the Bank indemnified at all times

against, and save the Bank harmless from all actions,

proceedings claims, losses, damages, costs and expenses

(including legal costs) which may be brought against or

suffered or incurred by the Bank in resolving any dispute

relating to the customer's account with the Bank or in

enforcing the Bank's rights under or in connection with the

terms and conditions contained herein, or which may have

arisen either directly or indirectly out of or in connection

with the Bank performing its obligations hereunder or

accepting instructions, including but not limited to, fax and

other telecommunications or electronic instructions, and

acting or failing to act thereon.

If any sum due and payable by the customer is not paid on

the due date, including without limitation any moneys

claimed under this Clause 9, the customer shall be liable to

pay interest (both after as well as before any judgment) on

such unpaid sum at such rate or rates as the Bank may from

time to time stipulate from the date payment is due up to

the date of payment.

The customer shall solely be responsible for ensuring full

compliance with all the applicable laws and regulations in

any relevant jurisdiction in connection with establishment

of his/her/its relationship with the Bank and shall indemnify

and keep indemnified the Bank from all actions,

proceedings claims, losses, damages, costs and expenses

(including legal costs on a solicitor and client basis) which

may be brought against or suffered or incurred by the Bank

in connection with any failure to comply with any such

applicable laws/ regulations.

The indemnities as aforesaid shall continue notwithstanding

the termination of the account.

10. No Encumbrances

The customer shall not permit any encumbrance or third

party interest over or against any account(s) without the

Bank's express prior written consent.

11. Declaration

The products and services of the Bank entail only a

relationship between the customer and the Bank in Bahrain

and not with any other office or branch of ICICI Bank

Limited. The customers hereby waive any right of action

against any of the other offices or branches of ICICI Bank

Limited. The other offices of ICICI Bank Limited shall not in

any manner be liable for any delays, losses, damages,

claims or expenses of whatsoever nature arising in relation

to any customer’s relationship with the Bank. The

customers further waive any claims or actions that the

customers may have in any jurisdiction outside Bahrain.

With specific reference to customers in the United Arab

Emirates, the customers hereby agree and confirm that ICICI

Bank Representative Office, Dubai, UAE is only a marketing

office and shall not be liable or responsible for any delays,

losses, damages, claims or expenses of whatsoever nature

and the customers have no right of action against ICICI Bank

Representative Office, Dubai, UAE and the customers

expressly waive any claims or actions in the United Arab

Emirates.

The customers who are residents of the USA hereby

acknowledge that they are subject to the laws applicable for

the time being in the USA and undertake to make such

filings and reportings as are required under the applicable

laws of USA or other relevant jurisdiction in relation to the

deposit accounts with the Bank and/or any of the Indian or

offshore branches of ICICI Bank Limited, including, if

required, the Report of Foreign Bank and Financial Accounts

to be submitted to the US Department of Treasury. The

customers confirm that the disclosure to the authorities of

any applicable jurisdiction, if required by any applicable law

or order, of any information pertaining to their relationship

with the Bank and/or the other branches of ICICI Bank

Limited, would not constitute a violation of any applicable

banking secrecy laws or practices and expressly release the

Bank and the other branches of ICICI Bank Limited from any

liability arising from such disclosure.

The non-resident Indian customers who are residents of

Bahrain hereby declare and confirm that they are Non

Resident Indians as defined in the Foreign Exchange

Management Act (Deposits) Regulations, 2000 of India. The

corporate customers (banks and financial institutions) who

are resident in Bahrain hereby declare and confirm that they

are licensed by the Central Bank of Bahrain.

12. Account Dormancy

The Bank may classify accounts of the following types as

inactive for reasons mentioned hereinbelow:

a) Call and Current accounts: These shall be classified as

dormant if there are no customer-induced transactions in

these accounts for a period of 12 months.

b) Savings accounts of any type: These shall be classified

as dormant if there are no customer-induced transactions

(debit or credit) for a period of 24 months.

c) Fixed deposit accounts: These shall be classified as

dormant if there are no claims or renewal requests for a

period of 6 months from the maturity date of the deposits.

Customer-induced transactions shall mean any credit or

debit transactions done by the customer in the account

through the following modes:

a) Withdrawals using cash withdrawal slips

b) Cash or Cheque Deposit

c)Withdrawal through ATM/POS

d)Transaction through Internet

e) Application made by the customer in relation to standing

instruction, Money 2 India, or any other customer

instruction through a letter etc.

f) Clearing of Inward / Outward Bill

The Bank may in its sole discretion deny services and / or

transactions in the account of a customer, which has been

classified as dormant.

A dormant account will be closed within six months from

the date the account becomes dormant and its balance

become zero.

To activate dormant account please visit our Manama

Branch with your Central Population Register Identity

document (CPR ID) or valid identity and address proof.

13. Outward Remittances and International Trade

Related Transactions

While undertaking international transactions (trade or

remittance), the Bank:

a) Shall be bound by the laws, rules, regulations,

notifications, directions or orders of the Kingdom of

Bahrain as applicable from time to time, including but

not limited to the primary legislation (Amiri Decree Law

4 of 2001 with respect to the Prevention and

Prohibition of Laundering of Money) relevant to

AML/CFT and the rules and regulations issued by the

Central Bank of Bahrain as part of the Financial Crimes

module, which is updated from time to time.

b) Shall be deploying services of correspondent banks

who are bound and guided by the statutes, rules,

regulations, notifications, directions and guidelines

applicable to their respective jurisdictions;

c) Accepts no liability whatsoever, direct or indirect, for

non-compliance with the laws of any country other

than that of Bahrain;

d) Will not be liable for any direct, indirect or

consequential loss/ liability that arises on account of

any action or inaction on the part of the correspondent

bank and/or from circumstances beyond the control of

the Bank

e) Shall have the discretion to return or refuse to accept

all or any part of a deposit or credit to an account or

process a transaction, at any time and will not be liable

for doing so or any consequences therefrom.

14. OFAC and other Sanctions

Neither the customer nor any other person benefiting in any

capacity in connection with or from the account(s) or these

Terms and/or any instruments and/or payments thereunder

is a Specially Designated National or otherwise sanctioned

under the sanctions promulgated by the Office of Foreign

Assets Control of the US Department of Treasury (OFAC),

India, United States, United Nations, European Union or any

similar restriction by any authority, agency or body having

similar powers (collectively, the "Sanctions").

The Bank may choose not to, or may be unable to, proceed

with any transaction and/or instructions if, in the Bank’s sole

discretion, they (or any intermediary through which any

payment may be made) are or maybe subject to, or may

attract in future, any Sanctions or restrictions and any

amount remitted or to be remitted (if any) by the Bank may

not be made available to the intended recipient if such

person or entity is subject to any Sanctions or restrictions.

The Bank will not be responsible for any losses or liabilities

which arise as a result of or in connection with any

Sanctions or restrictions, including, without limitation, any

act or refusal to act by the Bank as a consequence of any

Sanctions or restrictions, and any action or omission of any

correspondent or other intermediary bank and/or any delay

in the realisation of cheques deposited. Deposits shall only

be made if accompanied by proper supporting documents

as required by the Bank, and the Bank shall have such rights

as have been specified in these Terms.

15. Outsourcing

The Bank shall have the right to outsource or sub-contract

any part of the banking operations to such third party

(including but not limited to any party outside Bahrain on

such terms as the Bank deem fit in its sole discretion. Such

operations shall include but not be limited to, creation,

maintenance and archiving of documents and records.

16. Grievance Redressal Policy

It is ICICI Bank’s policy to ensure that:

a) All customers are treated fairly at all times.

b) All complaints, critical requests and issues raised by

customers are dealt with courtesy and resolved on

time.

c) Customers are made completely aware of their rights

so that they can opt for alternative remedies if they are

not fully satisfied with our response or resolution to

their complaint.

For Private Banking Customers:

The Bank’s Grievance Redressal Policy for Private Banking

customers will be available to customers on request and is

available on the Bank’s website

http://www.icicibankprivatebanking.com> About us

section > Grievance redressal.

At ICICI Bank, we strive to deliver a convenient and

hasslefree customer service experience in keeping with our

‘Khayaal Aapka’ philosophy. If you have a grievance, please

follow the below process to facilitate resolution of the issues

faced by our Private Banking customers.

Step One: In case your expectations are not met by

any of the products/services, we request you to

approach your Relationship Manager (RM)

immediately for required clarifications/solutions.

Step Two: In the unlikely event that you are

dissatisfied with the clarifications/ solutions

provided by your Relationship Manager or you

have not received it, you may write to us at

headprivatebankin[email protected].

Step Three: You are unsatisfied with the response

given by the Bank. In this unlikely event, you may

write to the respective Regulator/Banking

Ombudsman.

For further details please refer to the detailed policy

provided on the above link. A copy of this policy is also

provided separately along with this form for your reference.

For Retail Banking Customers:

The Bank’s Grievance Redressal Policy applicable for other

customers will be available to customers on request and is

available on the Bank’s website

http://www.icicibankbahrain.com/bh_complaints.htm.

A. Multi-channel customer service strategy: The Bank’s

customer service strategy is to enable customers to

avail of services through multiple channels. The

various channels available to customers for redressal

of issues are as follows:

Private Banking customers can write to their

Relationship Manager in case of any concern. In case

the concerns are not acknowledged, they can write to

headprivatebankin[email protected] with details of

their grievance.

Retail banking customers can contact on following

touch points:

I. Customer care: Customers can contact our

Customer Care officers at +973-17576161 over the

phone for redressal of issues.

II. Branch: Customers may send an e-mail to

bahraincomplaints@icicibank.com or send a letter to

P.O. Box 1494, Manama, Bahrain.

III. E-mails & letters: Customers may send an e-mail/

letter to the mail ids/addresses displayed in the posters

at the Bank and on the Bank’s website.

IV. Complaint Officer: If the customer’s issue is not

resolved even after contacting various complaint

resolution channels, he/she can write to the Complaint

Officer at:

The Complaint Officer,

ICICI Bank Limited, Bahrain Branch,

Manama Centre, Manama,

Kingdom of Bahrain

Or send e-mail addressing the same to Compliant

Officer at: bahraincomplaints@icicibank.com.

A detailed escalation matrix is available online at

http://www.icicibankbahrain.com/bh_complaints.htm

B. Time frame for response: The Bank will respond to a

complaint within 4 weeks of acknowledging the

complaint.

I. On receipt of customer complaints by any

channel, the Bank acknowledges in writing to the

customer within 5 working days of receipt of the same.

II. Customer Complaint Officer Bahrain will respond

suitably to the customer within 4 weeks post

acknowledgment in writing explaining our position

and how we propose to deal with the complaint of the

customer.

C. Escalation to regulator: If the customer is not happy

with the solution provided by the Bank and/or the

manner in which the Bank handled the complaint, the

customer can escalate the complaint to the Central

Bank of Bahrain. The details of Central Bank of Bahrain

are available at the Bank and on the Bank’s website.

17. Disclosure

The customer hereby irrevocably authorises and consents

to the Bank to disclose, as and when the Bank is required to

do so by applicable law or when the Bank regards such

disclosure as necessary or expedient (including but not

limited to disclosures for the purpose of credit review of any

account of the customer with the Bank or any branch or

subsidiary of ICICI Bank Limited whether singly or jointly

with others or otherwise), any information relating to the

customer, its account(s) or other assets held on the

customer's behalf to:-

A. its head office, affiliates or any other branches or

subsidiaries of ICICI Bank Limited;

B. its auditors, professional advisers and any other

person(s) under a duty of confidentiality to the Bank; C.

vendors, installers, maintainers or servicers of the Bank’s

computer systems;

D. any exchange, market, Courts, or other authority or

regulatory body having jurisdiction over the Bank, its head

office or any other branch or subsidiary of ICICI Bank

Limited or over any transactions effected by the customer

or for the customer's account;

E. any party entitled to make such demand or request; F.

any person with whom the Bank contracts or proposes to

contract with regard to the sale or transfer or sharing of any

of its rights, obligations or risks under the Terms; G. any

person (including any agent, contractor or third party

service provider) with whom the Bank contracts or

proposes to contract with regard to the provision of

services in respect of the customer's account(s) or in

connection with the operation of the Bank's business; H.

any person employed with, or engaged as an agent by, the

Bank or its head office or affiliates, including any

relationship officers, whether in Bahrain or elsewhere, for

the purposes of or in connection with interactions with the

customers or providing services to the customers or

processing transactions pertaining to the customers’

accounts; and

I. to enable the Bank to centralize or outsource its data

processing and other administrative operations) to the

Bank’s head office, its affiliates or third parties engaged by

the Bank (whether within or outside Bahrain) for any such

services/operations.

Any customer with an account with any branch of ICICI Bank

Limited located outside Bahrain hereby agrees to provide

on a voluntary basis all his/her/its personal and account

information and records to the Bank which, together with

any information generated or received by the Bank, may be:

a) collected and kept by the Bank (including any

agent or subcontractor appointed by the Bank) in any

country (as the Bank may consider appropriate) for the

purposes of the Bank maintaining its relationship with

the customer and offering or providing services on

accounts or investments made with or through the

Bank or other future services or products;

b) used by the Bank to carry out matching

procedures whether or not for the purpose of taking

adverse action against the customer(s) or maintain a

credit history (whether or not the relationship with the

Bank is terminated) for the Bank’s present or future

reference.

The customer hereby agrees and consents that the Bank

shall be entitled, in connection with the customer’s

application for any account, facilities or services provided

by the Bank, or during the course of the customer’s

relationship with the Bank, to obtain and procure

information pertaining to the customer or any of his/ her/ its

accounts, legal or financial position from whatever sources

available to the Bank.

18. Safe Keep of Passwords

The customer shall be solely responsible for the

safekeeping and the confidentiality of the statements of

account, balance confirmation certificate, user id and

passwords relating to internet banking (if applicable) and

such other items relevant or pertaining to the account.

19. General Provisions

The Terms as amended from time to time as aforesaid

together with other rules of the Bank pertaining to specific

products shall constitute a binding contract between the

customer and the Bank and the customer represents and

warrants that these Terms will be legal, valid, binding on

and enforceable against the customer, his/her/its executors,

administrators, successors and/or other legal

representatives.

All credit balances in the name of or held for the account of

the customer with the Bahrain branch of ICICI Bank Limited

shall be repayable and collectible only at the Bahrain branch

of ICICI Bank Limited. Neither the head office of the Bank nor

any other office, branch or affiliate of ICICI Bank Limited

shall in any event assume liability for repayment of monies

or deposits placed with the Bank and the customer shall

have no claim or action outside Bahrain against such

persons. The customer shall have no right of recourse or

setoff against the assets of ICICI Bank Limited or any of its

branches outside of Bahrain and all such claims, actions and

rights of recourse or setoff shall be waived.

The Bank has been granted a Conventional Retail Banking

license by the Central Bank of Bahrain (CBB). The CBB has

granted license to the Bank for establishing a Retail Banking

Unit (RBU) with a permission to provide banking services to

all nationalities in the Kingdom of Bahrain. As a RBU, the

Bank is expected deal with residents only to the extent

permitted by CBB. As part of the retail banking services the

Bank is permitted to offer banking services to individuals of

all national’s resident in Bahrain. The Bank is now part of the

clearing system of Bahrain and is subject to the terms on

which the Bank has been admitted as a member of the local

clearing system. For more information about the Bank, you

may approach any branch or office of ICICI Bank Limited.

Neither the Bank nor any of its agents, employees or

servants shall be responsible or liable in any way for any

direct or consequential loss suffered by the customer, its

agents, employees or servants in any of the following

situations: -

a) as a result of taking or omitting to take any action

pursuant to any orders or instructions given or

purported to be given by the customer or its duly

authorised representative(s) or any person whom the

Bank believes to be the customer or its duly authorised

representative(s), save in the case of wilful default or

gross negligence;

b) in respect of the authenticity, regularity, validity or

value of any documents handled by the Bank on the

customer's behalf or the correctness of any translation

or the interpretation of any terms appearing in any

such documents;

c) for any failure to take, or delay in taking, any

action required to be taken hereunder in the event that

and to the extent that the taking of such action is

prevented or delayed by war (whether declared or not

and including existing wars), revolution, insurrection,

fire, explosion, stoppage of labour, strikes or other

disputes with employees, laws, regulations, orders or

other acts of any governmental authority, or any other

cause whatsoever beyond the Bank's control;

d) for any loss or damage sustained by the customer

resulting directly or indirectly from its reliance on any

statement of account or balance confirmation

certificate which the customer has, or is deemed to

have, verified to be accurate pursuant to these Terms;

e) if, for any reason beyond the Bank's control, the

operation of the customer's account or the Bank's

ability to account to the customer for any monies in the

customer's account is restricted or otherwise affected;

f) if the value of the funds credited to the customer's

account shall diminish due to taxes, deductions,

withholdings, imposts or depreciation; and

g) if the customer is unable to obtain payment of

funds from its account(s) due to restrictions on

convertibility, involuntary transfers, foreign exchange

controls, distraints of any character, or any other

causes whatsoever which are beyond the Bank's

control whether arising in Bahrain or in any place in

which the Bank has deposited such funds.

The customer undertakes and agrees to indemnify the Bank

on a full indemnity basis against all present and future

stamp duties, taxes (but excluding taxation on the Bank's

profits), levies, losses (direct or consequential), costs,

charges, expenses (including legal fees on a full indemnity

basis) and other liabilities incurred by the Bank as a result of

or in connection with the execution, delivery, registration,

performance or enforcement of the Terms or losses and/or

damages which the Bank may incur in giving effect to the

customer's instructions, including but not limited to losses,

damages, costs, expenses and/or charges

arising from:-

a) the operation of the customer's account(s) or the

provision of services hereunder;

b) any breach of trust or other fiduciary obligation

binding on the customer;

c) acting on instructions or orders purportedly given

by the customer or of person or persons who purports

to have been authorised by the customer;

d) acting or not acting on the basis of any

information or instructions given by the customer

where, in either case, the Bank believes in good faith

the information or instructions to be given in breach of

any duty imposed on the customer or in excess of

powers vested in the customer; and

e) exercising the Bank's rights of setoff,

combination, consolidation, lien or any other right.

These indemnities constitute a separate and independent

obligation from the other obligations contained in the

Terms, shall give rise to a separate and independent cause

of action, shall apply irrespective of any indulgence granted

by the Bank and shall continue in full force and effect despite

any judgment, order, claim or proof for a liquidated amount

in respect of any sum due under the Terms, any judgment

or order. No proof or evidence of any actual loss may be

required.

The invalidity, illegality and enforceability of any of the

provisions of the Terms shall not prejudice or affect in any

way the validity, legality or enforceability of the remaining

provisions of the Terms. Any provision of the Terms that is

invalid, illegal or unenforceable in any jurisdiction shall, as

to such jurisdiction only, be ineffective to the extent of such

invalidity, illegality or unenforceability, without rendering

invalid, illegal or unenforceable the remaining provisions of

the Terms in such or any other jurisdiction

If any provision in the Terms shall conflict or become

inconsistent with any applicable laws or regulations for the

time being in force or the rules of any relevant authority or

body having jurisdiction over the subject matter of the

Terms or its application, then for such purposes (but not

further or otherwise) the Terms shall be construed as if such

provision shall have been modified in such manner as the

Bank may in its discretion deem necessary for the purpose

of giving the fullest possible legal effect to the Terms.

No failure or delay on the part of the Bank in exercising any

right, power or privilege under the Terms shall operate as a

waiver thereof or of any other right, power or privilege of

the Bank, nor shall any single or partial exercise of any right,

power or privilege of the Bank preclude any other or further

exercise hereof or the exercise of any other right, power or

privilege of the Bank.

In the event of war, revolution, insurrection, military

disturbances, riot, civil commotion or other similar action,

strike, lockout, stoppage or restraint of labour, seizure or

confiscation of currency or other assets or other

governmental action, any imposition of currency exchange

control by any government, any act of God, any event

outside the control of the Bank, or any implementation of

any laws, by-laws, restrictions, regulations, orders or

directives imposed by any authority, regulatory body or

government, whether or not having the force of law, which

in the Bank’s opinion hinders or prevents the performance

by the Bank of its obligations under the Agreement (whether

of delivery or payment or otherwise) or any Contract (an

"event of force majeure"), then the Bank may elect either (I)

to postpone its performance until the event of force majeure

no longer has such effect or (ii) terminate the Terms by

giving 30 days' notice to the customer.

The customer may not assign any of its rights or transfer

any of its obligations hereunder. The Bank shall be entitled

to assign all or part of its rights and/or transfer all or part of

its obligations hereunder to such party as it may deem fit

without further reference to the customer.

Unless otherwise agreed, any notice or other

communication (other than statements of account and

balance confirmation certificates) to the customer may be

delivered to the customer personally or sent by post, telex

or fax at the address, telex or fax number given in the

relevant account opening form of the Bank signed by the

customer or as last notified in writing to the Bank and shall

be deemed to have been received by the customer two (2)

days after dispatch if sent by post to an address in Bahrain,

or seven (7) days after dispatch if sent by post to an address

outside Bahrain, or immediately upon completion of

transmission if sent by fax or telex and immediately upon

delivery if delivered personally.

The customer shall notify the Bank immediately of any

change of address or other information previously provided

to the Bank by the customer and deliver to the Bank the

relevant documents detailing such changes.

Any writ, summons or other process may be served on the

customer by mailing the same to the customer in

accordance with the above and shall be deemed to be good

service on the customer. The foregoing shall not however

preclude the Bank from effecting service of process in any

other manner permitted by law.

The Bank reserves to itself the right to alter, delete or add to

any of the Terms at any time in its discretion and such

alterations, deletions or additions shall be deemed to be

effective and binding on the customer 30 days after the

Bank's notice thereof to the customer.

The Terms shall be governed by, and construed in

accordance with Bahrain law. The customer hereby

irrevocably submits to the non-exclusive jurisdiction of the

Bahrain courts in connection with any action or proceeding

that may arise out of or in connection with the Terms. Such

submission shall not prejudice the Bank’s right to

commence action against the customer in any other court

of competent jurisdiction.