Terms & Conditions - Bahrain branch

I agree that the Bank can at its sole discretion, amend any of the services/facilities given in my account either wholly or partially at any time by giving to me at least 30 days notice and / or provide an option to me to switch to other services/facilities.

I agree to the Bank advising me/us about all products or services offered by the Bank periodically to us either by e-mail, letter or pamphlets

I agree to authorise and request the Bank enter into interest rate transaction, currency exchange, credit derivatives transactions or equity linked deposits including ( without limitation) dealing in spot and forward rate exchange contract, foreign currency, futures, option, forward rate arrangement, swap and any other foreign exchange or interest rate hedging arrangement, equity swaps , equity options, credit-linked notes, equity linked deposits and such other instrument as are similar to or derived from any of the foregoing which the Bank may offer and which I may request from time to time of any type or natures whatsoever on such terms and conditions as are then current or as may be stipulated by the Bank from time to time

I agree that the Bank shall not be liable for any damages, losses (direct or indirect) whatsoever, due to disruption or non availability of any of services/facilities by reason of technical fault/error or any failure in telecommunication network or any error in any software or hardware systems beyond the control of the Bank.

Force Majeure: I agree that the Bank shall not be liable if any transaction does not fructify or may not be completed or for any failure on part of the Bank to perform any of its obligations under these Terms and Conditions or those applicable specifically to its services/facilities if performance is prevented, hindered or delayed by a Force Majeure event (defined below) and in such case its obligations shall be suspended for so long as the Force Majeure event continues. "Force Majeure Event" means any event due to any cause beyond the reasonable control of the Bank, including without limitations, unavailability of any communication systems, breach, or virus in the processes or payment or delivery mechanism, sabotage, fire, flood, explosion, nuclear or natural catastrophes, pandemic, epidemic, acts of god, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorised access to computer data and storage devices, computer crashes, malfunctioning in the
computer terminal or the systems getting affected by any malicious, destructive or corrupting code or program, mechanical or technical errors/failures or power shut down, faults or failures in telecommunication etc.

Indemnity: I agree that I shall indemnify and hold the Bank harmless against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses whatsoever which the Bank may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of providing any of the services or due to any negligence/mistake/misconduct on my/our part or breach or non-compliance by me/us of any of the Terms and Conditions relating to any of the services or by reason of the Bank in good faith taking or refusing to take action or partially taking action or so acting whether wrongly or mistakenly on any instruction given by me.

Right of Lien/Set off: I hereby grant and confirm the existence of the right of lien and set-off with the Bank, which the Bank may at any time without prejudice to any of its specific rights under any other agreements with me, at its sole discretion and without notice to me utilize to appropriate any moneys belonging to me and lying/deposited with the Bank or due by the Bank to me, towards any of the dues payable by me to the Bank.

I agree that applicable taxes, if any, will be deducted from the interest at the time of payment of Offshore deposit, as per applicable law

I agree that Interest on offshore deposits will be credited into my account at the rate(s) as may be from time to time prescribed by the Bank.

I agree that the Bank reserves the right to impose service charges on accounts and the services in connection therewith as may be determined by the Bank in its sole discretion including without limitation any charges which may be permitted or suggested pursuant to the rules of any regulatory body or organisation of which the Bank is a member. I permit the bank to debit the relevant account(s) in accordance with the Bank’s normal banking procedures. Such charges are not refundable upon termination of any or all of my account(s)

I agree that the Bank has the right to freeze the account without any notice to me if the account is not transacted for a period of 2 years from the date of opening of account or the last transaction whichever is later (excludes system generated transactions like credit interest, debit interest). I agree that the account will be activated only after furnishing of the required KYC / AML documents subject to the satisfaction of the Bank

I agree that the Bank has authority to debit the accounts to recover any amount credited erroneously

I agree that I will be liable for any loan or other facilities arising in connection with any of the above account(s) and I hereby authorize the Bank to debit any such account(s) with all or any interest (including compound interest), commission or other banking charges, costs and expenses (including any legal costs) incurred in connection therewith at such rates as may be determined by the Bank from time to time in its absolute discretion. I will also pay to the Bank any such amounts, in a manner and, at such times, as may be required by the Bank in its absolute discretion.

I understand that the Bank will send or deliver to me a statement of account(s) at least once a quarter (save in respect of any account(s) that has, in the sole option of the Bank, being inactive for a period of one year or more, such statement of account(s) will be sent or delivered by the Bank annually) or in each case at such other intervals as may be agreed between the Bank and us from time to time and I agree that I am solely responsible for promptly examining all entries thereon and that I must give the Bank written notice within 14 days of the date of the relevant statement of any discrepancy that I believe exists between any such statement and my own records. In the absence of any such notice from me, I shall be deemed to have agreed and certified conclusively (for all purposes) the correctness of the relevant statement of account.

I agree in event my passport expires , I will submit the same to the Bank with a period of 3 months from the date of expiry of the passport or any other period which the Bank decides, failing which my account will be freezed until the Bank receives a updated copy of the passport.

I hereby waive any right of action against any of the other offices or branches of HDFC Bank Limited. The other offices of HDFC 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 of my relationship with the Bank. I further waive any claims or actions that I may have in any jurisdiction outside Bahrain. I hereby agree and confirm that HDFC Bank Representative Office, Dubai/Abu Dhabi, UAE and Kenya is only a marketing office and shall not be liable or responsible for any delays, losses, damages, claims or expenses of whatsoever nature and I have no right of action against any Representative Office of HDFC Bank and I expressly waive any claims or actions in the United Arab Emirates and Kenya.

The clients who are residents of the United States of America ("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 reporting’s 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 HDFC Bank Limited, including, if required, the Report of Foreign Bank and Financial Accounts to be submitted to the US Department of Treasury. The clients 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 HDFC Bank Limited, would not constitute a violation of any applicable banking secrecy laws or practices and expressly release the Bank and the other offices and branches of HDFC Bank Limited from any liability arising from such disclosure. 

I agree that as the client's collecting agent, the Bank assumes no responsibility whatsoever and shall only permit withdrawal upon final receipt of proceeds by the Bank. I agree that the Bank reserves the right to: Route each item for collection in accordance with the Bank's normal practice Refuse to accept for collection any item presented by me; and debit my account for the proceeds of any cheque or instrument credited to it which is not subsequently honoured.

I agree that all my transactions with the Bank are commercial in nature. I agree that the Bank shall have the right, without reference to me, to debit my / our account(s) with all fees, expenses, interest, commissions, taxation and other charges for all the transactions between the client and the Bank. A copy of all Bank fees, charges and expenses is available upon written request, which may be amended from time to time.

I agree that the Bank has the right to freeze my account(s) without prior notice upon any of the following occurrences: Breach of these Terms and Conditions or the Bank suspects that a money laundering, fraud or other financial crime has been committed in respect of my Account or if the Bank has reasons to believe that the continued operation of my account would breach any laws or regulations or accepted standards national or international; or at any time the Bank receives an order from any enforcement authority to freeze the account(s), or should no transaction occur in the account(s) for a period of 730 days or any other period as may be determined by the Bank (not applicable for Offshore Deposits), or should any mail addressed to my mailing address provided to the Bank be returned undelivered and telephone contact not be established by the Bank, or should charges accrue on an account due to non-availability of funds to recover the same, or should I not submit any KYC documents as and when demanded by the Bank I / agree that the Bank shall not be responsible or liable for consequences arising from such freeze made on the account(s). I agree and accept such orders for freeze without any further recourse against the Bank or its directors, officers and staff.

Governing Law: I agree that all claims, matters and disputes are subject to the exclusive jurisdiction of the competent courts in Kingdom of Bahrain only. These Terms and Conditions and/or the operations in the accounts of the client maintained by the Bank and/or the use of the services provided by the Bank shall be governed by the laws of the Kingdom of Bahrain and no other nation. The client agrees to submit to the exclusive Jurisdiction of the Courts located in the Kingdom of Bahrain as regards any claims or matters arising under these Terms and Conditions. The Bank accepts no liability whatsoever, direct or indirect, for non-compliance with the laws of any country other than the Kingdom of Bahrain. HDFC Bank Limited Bahrain Branch reserves the right to modify the Terms and Conditions. Clients will be communicated of such modification in Terms and Conditions within 15 days of implementing the same.

FATCA/Foreign Tax laws

I understand and agree that
Under FATCA/ Foreign Tax laws towards compliance with tax information sharing laws, such as FATCA, the Bank would be required to seek additional personal, tax and beneficial owner information and certain certifications and documentation from its account holders. Such information may be sought either at the time of account opening or any time subsequently. In certain circumstances (including if the Bank does not receive a valid declaration from its customers) the Bank may be obliged to share information on such accounts with relevant tax authorities. If the customer has any questions about his/her tax residency, then he/she would have to contact his/her tax advisor. Should there be any change in any information provided by the customer, he/she should ensure to advise the Bank promptly, i.e., within 30 days. Towards compliance with such laws, the Bank may also be required to provide information to any institutions such as withholding agents for the purpose of ensuring appropriate withholding from the account or any proceeds in relation thereto. As may be required by domestic or overseas regulators/ tax authorities, the Bank may also be constrained to withhold and pay out any sums from the customer’s account or close or suspend the customer’s account(s). Neither the Bank nor any other member of the HDFC Group shall be
responsible to the customer or any third party for any loss incurred as a result of the Bank or any other member of the HDFC Group taking the actions set out in this clause. The customer can also find out more, including a list of jurisdictions that have signed agreements to automatically exchange information, along with details about the information being requested, on the OECD automatic exchange of information.
Declaration under FATCA / CRS / Foreign Tax laws
I acknowledge and agree that the information contained in this form is collected and may be kept by the financial institution for the purpose of automatic exchange of financial account information. I certify that I am the account holder / I am authorized to sign for the account holder of all the account(s) to
which this form relates.

I undertake to advise HDFC Bank of any change in circumstances which affects the tax residency status of the individual identified in Part I of this form or causes the information contained herein to become incorrect, and to provide HDFC Bank with a suitably updated self-certification form within 30 days of such change in circumstances.