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FRAMEWORK AGREEMENT FOR REMOTE BANKING OF THE BULGARIAN AMERICAN CREDIT BANK AD

Today, .............., this Framework Agreement for Remote Banking of the Bulgarian American Credit Bank AD, hereinafter referred to as “Framework Agreement”, was concluded by and between:

1. BULGARIAN AMERICAN CREDIT BANK AD, entered in the Commercial Registry of the Registry Agency under UIC 121246419, registered under company file No. 12587/1996 of Sofia City Court list, having its seat and registered address in the city of Sofia 1000, Sofia City Municipality, Sredets District, 2 Slavyanska Str., in its capacity as a licensed payment service provider under Article 3, para 1, item 1 of the Payment Services and Payment Systems Act (PSPSA), with an e-mail: bacb@bacb.bg, website: www.bacb.bg, the competent supervisory body being the Bulgarian National Bank, hereinafter referred to as the Bank, on the one hand,

and

2. ..........................................................................................., ID No. (UIC/BULSTAT/ID No./Personal Foreigner’s No.) ........................., domiciled at/with registered address at: ............................................................................................................................................, in its capacity as Customer of the Bank’s remote banking service, hereinafter referred to as “Customer”, on the other hand,
and the parties have agreed on the following:

SECTION I. SUBJECT. PRELIMINARY INFORMATION.

1. Subject to the conditions of this Framework Agreement and the General Terms and Conditions for Remote Banking of the Bank, upon the receipt of an electronic banking payment order via the channels of the BACBplus Virtual Bank or via the Bank’s website (www.bacb.bg), the Bank shall grant the Customer remote access to the funds deposited in the Customer’s accounts at the Bank, shall deliver payment services through single or group payment transactions authorized by the Customer and shall carry out other actions ordered by the Customer. Under the conditions of this Framework Agreement and the General Terms and Conditions for Remote Banking of the Bank, the Bank shall also deliver to the Customer other banking services.

2. The scope of products and services delivered by the Bank via remote banking shall be laid down in detail in the General Terms and Conditions for Remote Banking of the Bank. The Bank may change and/or expand the scope of products and services available via remote banking at any time and at its own discretion and the Bank shall notify the Customer in a timely manner in writing or electronically.

3. Via the BACBplus Virtual Bank, the Customer shall have access in real time to all of the Customer’s accounts at the Bank. By using online banking of the Bank, the Customer shall have access only to the accounts registered for online access and designated in the Application to use the online banking service or the Registration Form filled in on the Bank’s website (www.bacb.bg) as well as to the deposits opened via the Bank’s Online Banking System.

4. Upon receipt of an electronic banking payment order via the channels of the BACBplus Virtual Bank or the Bank’s website (www.bacb.bg), the Bank shall debit the Customer’s accounts with the amount of the transactions executed and the fees and commissions due.

5. During the term of effect of this Framework Agreement, the Bank shall also receive orders from the Customer in writing on paper.

6. Prior to concluding this Framework Agreement, the Bank shall provide the Customer on paper or another durable medium with the applicable General Terms and Conditions for Remote Banking, General Terms and Conditions for Payment Services and General Terms and Conditions for Business Activities of the Bank where the Bank has provided the preliminary information under Article 41 of the PSPSA.

SECTION II. ACTIVATION AND USE

7. The Customer shall register to use the BACBplus Virtual Bank of the Bank in one of the following two ways: а) by filling in an electronic form via the BACBplus Bank Portal or b) by filing an Application to use remote banking channels on paper at any of the Bank’s offices/branches or via the Bank’s Agent. The Bank shall activate the service within three business days from meeting the conditions laid down in detail in the General Terms and Conditions for Remote Banking and from signing this Framework Agreement.

8. The Bank shall activate the online banking service within three business days after all of the following conditions are met: а) the Customer has completed, signed and filed at the Bank’s office an Application to use the online banking service or Registration Form and, where the registration takes place through the Bank’s Agent, the Bank has received from the Agent the Customer’s application for online banking, b) the Customer and the Bank have concluded this Framework Agreement and c) the Customer has read and accepted the Bank’s General Terms and Conditions for Remote Banking, General Terms and Conditions for Payment Services and General Terms and Conditions for Business Activities.

9. The Customer shall act via the remote channels of the Bank’s BACBplus Virtual Bank and/or the Online Banking System in person (or, for legal entities, through the Customer’s authorized representatives). The Customer may authorize third parties (hereinafter referred to as “Users”) to have access to the online banking system and to act with the Customer’s accounts on behalf and at the expense of the Customer by executing transactions through powers granted in advance. In such cases, the Users authorized to manage the funds in the Customer’s accounts may be only persons explicitly authorized by the Customer with a Power of Attorney certified by a Notary or a Power of Attorney signed before the Bank’s official and management shall be made possible after due identification of the Users by the Bank’s official.

10. The Customer shall use remote banking via the Bank’s BACBplus Portal, the mobile banking, the Remote Customer Service Centre and the Online Banking System in strict compliance with the provisions of this Framework Agreement, General Terms and Conditions for Remote Banking, General Terms and Conditions for Payment Services, General Terms and Conditions for Business Activities, Framework Agreement for opening and servicing bank accounts and delivering payment services, Guidelines on Remote Banking and Guidelines on Online Banking of the Bank.

SECTION III. EXECUTION OF THE CUSTOMER’S ORDERS.

11. The Bank shall execute the Customer’s and/or the User’s orders filed electronically under the conditions and within the time period laid down in the General Terms and Conditions for Remote Banking, General Terms and Conditions for Payment Services, Guidelines on Remote Banking and the Guidelines on Online Banking which shall be an integral part hereto.

12. For remote transactions executed the Customer shall pay the Bank fees and commissions under the Fees and Commissions Tariff of the Bank.

SECTION IV. ENTRY INTO FORCE. TERM. AMENDMENTS AND TERMINATION.

13. With regard to the use of the Bank’s BACBplus Portal, the mobile banking and the Remote Customer Service Centre, this Framework Agreement shall enter into force after the two parties have signed it. With regard to the use of the Online Banking System, this Framework Agreement shall enter into force after the Customer or User has received the username, password and/or a TAN list.

14. This Framework Agreement shall not be limited in time.

15. The Bank can introduce amendments to this Framework Agreement at any time by notifying the Customer at least two months prior to the effective date of the amendments. The notification shall be delivered by the Bank to the Customer on paper at the Bank’s teller’s desks or on the Bank’s website (www.bacb.bg) in Bulgarian and in English within two months at least prior to the effective date of the amendments. The scope of the payment services delivered may be changed at the Bank’s discretion and in such case the two-month advance notification shall not apply.

16. Where the Customer has not notified the Bank in writing that the Customer declines the amendments prior to their effective date, the Bank shall deem the Customer to have accepted the amendments to the conditions of this Framework Agreement and the Customer shall be deemed as bound by them.

17. Where the Customer has notified the Bank that the Customer declines the amendments prior to their effective date, the Customer shall have the right to terminate immediately this Framework Agreement prior to the effective date of the amendments without being liable for expenses and indemnity.

18. The legislative amendments related to the conditions for servicing payment accounts and delivering payment services shall be binding on the Bank and the Customer from their entry into force.

19. This Framework Agreement shall be terminated in any of the following events: а) by mutual consent of the Parties; b) unilaterally by the Customer with a one-month advance notice in writing in the event that the Customer has no outstanding liabilities to the Bank by the time the advance notice expires; c) unilaterally by the Bank with a two-month advance notice in writing which shall be delivered to the Customer on paper in accordance with the order of receiving correspondence designated by the Customer upon opening payment accounts at the Bank or at the Bank’s teller’s desks, or by registered mail.

20. The Customer shall not pay any fees or commissions for the termination of this termless Framework Agreement.

21. Notwithstanding the foregoing, this Framework Agreement may be terminated by either Party upon default of the other Party on its obligations and no advance notice for the termination shall be needed.

22. The termination of this Framework Agreement shall not apply to the contractual relations between the Bank and the Customer under the Framework Agreement for opening and servicing bank accounts and delivering payment services.

SECTION V. GENERAL, FINAL AND OTHER PROVISIONS.

23. By signing this Framework Agreement, the Customer shall declare: а) to have read and accept as binding the General Terms and Conditions for Remote Banking, the Guidelines on Remote Banking and the Guidelines on Online Banking, b) to be aware of the fact that the amendments to this Framework Agreement, the General Terms and Conditions for Remote Banking and the other General Terms and Conditions of the Bank, the Fees and Commissions Tariff and the Interest Rate Bulletin of the Bank shall be published on the Bank’s website and that, where the Customer has not notified the Bank in writing of declining these amendments prior to their effective date, the Bank shall deem the Customer to have accepted them and to be bound by them, c) to agree to have the Bank store and use the Customer’s personal data disclosed to the Bank in relation to this Framework Agreement and to provide them to third parties in compliance with the Personal Data Protection Act.

24. For the conditions and relations not settled herein, the provisions of the General Terms and Conditions for Remote Banking, General Terms and Conditions for Payment Services, General Terms and Conditions for Business Activities, the Payment Services and Payment Systems Act, the Remote Financial Services Provision Act (RFSPA), Ordinance No. 3 of the Bulgarian National Bank and all the other applicable provisions of the governing Bulgarian legislation shall apply.

25. The Customer shall declare the Customer’s explicit request for either Party to exercise its rights and fulfill its obligations hereunder before the Customer has exercised the Customer’s right of withdrawal from the agreement under the RFSPA.

26. For remote registration of the Customer to use the Online Banking System (via the Bank’s website, Become a customer section or through the Bank’s Agent) and for remote receipt of the username and password to access the Online Banking System and TANs to send payment orders and other instructions to the Bank, the Bank shall automatically generate and provide to the Customer a personal and unique Customer Identification Code (CIC). CIC shall be a unique combination of 30 characters (numbers, upper and lower case letters of the Latin alphabet) each of them placed in a certain position (from 1 to 30). The Bank shall identify the Customer by means of certain characters from CIC in certain positions, and upon successful identification the Bank shall allow the Customer to register remotely to use the online banking service and to obtain remotely the username, password and TANs. The CIC characters to be used for the Customer’s identification shall be assigned in the following way: the Bank shall send the Customer an electronic message on the mobile phone designated by the Customer with six randomly selected CIC positions (the so-called position code) whose characters shall be entered one after the other to enable the Customer’s identification by the Bank. For that purpose the Bank shall provide to the Customer the following unique and personal Customer Identification Code:

This Framework Agreement was executed in two identical copies, one for either Party