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Credinet Card Terms & Conditions


1. Definitions:

"Company" means CrediMax B.S.C. (closed).
"Bank" means the Bank of Bahrain & Kuwait BSC.
"Card" means Visa, MasterCard and JCB Islamic Card(s) issued by the Company to a Cardholder. v "Tayseer " means the brand name of CrediMax Visa, MasterCard and JCB Islamic card(s).
"Agreement" means the Agreement between the Company and the Cardholder, the Terms of which are these Terms and Conditions of which may vary from time to time.
"PIN" means the related personal identification number issued to the Cardholder and consisting of four-digits.
"E-Pin" means the six to eight digits number assigned to enable online electronic transactions.
"Principal Cardholder" means a person in whose name a card is issued by the Company.
"Principal Card" a card issued in the name of the "Principal Cardholder" by the Comapnay.
"Supplementary Cardholder" means a person nominated by the "Principal Cardholder" and the Company agreed to issue the card in his/her name.
"Supplementary card" a card issued in the name of the "Supplementary Cardholder" by the Company.
"Cardholder" means any person in whose name the card is issued by the Company.
"Card Transaction" means the purchase of goods or obtainment of services or cash withdrawals by the use of the Card (with PIN if needed), the Card number or in any manner authorized by the Cardholder.
"Card Account" means Account(s) maintained by the Company in relation to the issued Card.
"Credit Limit" means the maximum debit balance amount permitted under Card Account as determined and notified to the Principal Cardholder by the Company from time to time.

2. Use of the Card:

Use of the Card shall be limited to the person in whose name it is issued and to the Card's account up to the authorized amount. Further, use of the Card shall be limited to the transactions carried out in non face to face environments such as Internet, mail order, telephone order etc. The Cardholder may not use the Card on ATM machines nor at retail outlets inside or outside the Kingdom of Bahrain. The Cardholder must use the Card up to the credit limit determined by the Company from time to time. Where the credit limit is exceeded, the Company will charge a BD 10 fixed fee and such fee shall be debited to the Cardholder's account at the end of the month. The Cardholder shall not use the Card after the expiry of its term nor shall use it upon receipt of notice for cancellation or withdrawal thereof by the Company.

3. Card Accounts:

The Company shall maintain a Card Account in the name of the Principal Cardholder and all the amounts arising from use of the Card shall be debited to the said account. Amounts due shall be debited and paid in Bahrain Dinars at the prevailing rate of exchange (in the company's discretion) on the date of debiting the aforesaid amounts to the Card account. The Cardholder may obtain a detailed statement of account showing the transactions that took place with the Card at the following website : www.bbkonline.com, and clicking on the e-bank Icon.
The Cardholder shall determine that the amounts indicated in the Statement of Account are correct unless an objection is made to the Company within 15 days. Monthly statements of account will be sent by mail.. The Cardholder shall within 25 days from the date of every monthly statement of account pay the minimum amount indicated in the statement of account or any bigger amount as decided by the Principal cardholder. The minimum amount shall be the balance indicated in the statement of account if it is less than BD 10 or 5% (five per cent) of the balance due, whichever is bigger. Further, the Principal Cardholder shall immediately pay any amount due exceeding the credit limit and any arrears in respect of previous payments or any penalties imposed by the Company by reason of transactions made in breach of any of the terms of this Agreement. The Cardholder shall authorize the Company to use any credit balance and any other entitlements held by the Bank of Bahrain and Kuwait BSC or any of its branches inside Bahrain or the affiliates of the Bank for settlement of any balances due in respect of the Card Account. This action shall be valid and effective towards the Principal cardholder without the need for notice, warning or any other legal action.
All the amounts due shall be payable in full in case of adjudicating the bankruptcy or death of the Principal Cardholder and in case of any branch of the terms of this Agreements. The Principal Cardholders' obligations shall remain valid and effective until they are duly satisfied. Any advance payment to the Company shall be deemed effective only upon its receipt at the address determined by the Company and when credited to the Card Account. The aforesaid payment shall first be used by the Company only towards repayment of outstanding amounts. Secondly, they shall be used for settlement of all interest debited to the most recent statement of account or previous statements of account. Thirdly, they shall be used towards repayment of the amount of transactions indicated in any previous statements of account. Fourthly, they shall be used for repayment of the amount of transactions indicated in the most recent statement of account, Fifthly, they shall be used for repayment of the amount of transactions that have taken place and debited to the account but not yet listed in the statement of account.

4. Charges:

Interest on a Card Transaction amount will be charged on a daily basis at the rate of 1.85% per month from the date the Card transaction is processed by the company until full repayment is received and credited to the Card Account; provided however that no interest will be charged on the new Transaction amount repaid by the Cardholder and credited to the Card Account within 25 days from the date of the statement. Interest will be debited to the Card Account at monthly intervals. A flat late payment fee of BD 10/- will be charged if the minimum amount due is not received by the company on or before the date specified in the statement. A flat fee of BD 10/- will be charged if Cardholders use the Card in excess of their prescribed Credit Limit. The company reserves the right to vary these charges from time to time at its sole discretion.

5.Restriction, Cancellation, Suspension or Withdrawal of the Card:


5.1. The Company may without prior notice to the Cardholder, cancel, suspend or withdraw any Card(s) and/or privileges issued, on a temporary or permanent basis, at any time and for whatever reason, including but not limited to the following:
  5.1.1. the Cardholder's failure to satisfy his/her obligations under this Agreement as may be amended from time to time, or under any other agreement with the Company;
5.1.2. the Cardholder's default on timely payment of any amount due to the Company
5.1.3. the Cardholder's bankruptcy or insolvency or any material adverse change to the Cardholder's financial position and circumstances;
5.1.4. the Cardholder's failure to provide any additional information and/or documentation upon the request of the Company;
5.1.5. the misuse of the Card(s) by unauthorized parties; and/or
5.1.6. where the Company knows or suspects that the Card(s) is/are being used fraudulently, negligently and/or for illegal activities.

For the avoidance of doubt, the Company may restrict, cancel, suspend, withdraw the Card(s) or vary the credit limit in respect to the card(s) (whether by increase or decrease) at its absolute discretion and will not be required to give any reasons to the Cardholder the basis for the restriction, cancelation, suspension, withdrawal or variation.
5.2. The Card shall be terminated by the Company without prior notice upon the death, bankruptcy and/or insolvency of the Cardholder(s) or when the whereabouts of the Cardholder(s) become unknown to the Company.
5.3. In the case of restriction, cancelation, suspension or withdrawal of the Card(s) pursuant to Clauses ‎5.1 and ‎5.2 above, this Agreement shall terminate with immediate effect and the Cardholder shall handover all Card(s), including Supplementary Card(s), to the Company and refrain absolutely and immediately from any further usage of the Card(s). The Company may in addition to any other remedies stipulated herein, take such steps it deems necessary to restraint Card usage. Any continued use of the Card(s) by the Principal Cardholder(s) or Supplementary Cardholder(s) shall be deemed fraudulent.
5.4. The cancelation, termination or withdrawal of the Card shall not absolve the Cardholder from his/her liabilities and financial obligations towards the Company as agreed upon hereunder. The debt balance outstanding on the Card(s) account shall continue to be in force and payable by the Cardholder to the Company, and the fees shall continue to accrue as agreed hereunder until the debt balance of the Card(s) account is paid in full.
5.5. The Card(s) shall remain the property of the Company at all times and the Cardholder shall upon request immediately return to the Company any and all Card(s), including any Supplementary Card(s), issued to the Cardholder.
5.6. The Cardholder shall hold the Company harmless from any claim for damages arising out of in connection with such restriction, cancelation, suspension and/or withdrawal of the Card(s).
5.7. The Company reserves the right, at its sole and absolute discretion, to restore the Card and/or any of its privileges, whether or not the circumstances giving rise to the restriction, cancelation, suspension or withdrawal have ceased or have been rectified.

6. Maintaining the Card:

The Cardholder shall take all the necessary actions and precautions to protect the Card and shall be fully responsible for the use thereof and for all the results arising from its loss, theft or use in breach of such terms and conditions. The Cardholders shall compensate the Company for any damages or losses arising as a result thereof. In case of the loss or theft of the Card, the Cardholder shall immediately give notice to the Company. A verbal notice shall not be deemed valid unless it is confirmed in writing at the Company's address within 7 days.

7. Refund of Amounts and Cardholder's Claims:

Amounts refunded relating to any Card transactions shall be credited to the Card Account only in case of the Company's receipt of a refund or any other document evidencing that an it acceptable to the company. Any claim by the Cardholder against any third party shall not constitute any issue of dispute or counter claim against the Company. The Cardholder's rights towards the Company shall not be transferred nor assigned in favor of a third party. The Company shall not be held liable in any manner if any third party does not accept use of the Card.

8. Additional Cardholder:

The Company may in its sole discretion issue an additional card upon the written application of the principal Cardholder for use by any of his immediate family members. The Principal Cardholder shall be liable for all obligations arising from the use of the additional card and from any damages or losses arising as a result thereof. All transactions arising from the use of the additional card shall be debited to the account of the Principal Cardholder. In addition to the rights and powers of the Company under this Agreement, the Company may cancel the additional card at any time upon the written request of the Principal Cardholder without prejudice to the obligations of the Principal Cardholder with respect to the transactions made by the additional cardholder prior to the cancellation thereof.

9. Amendments:

The Company shall be entitled to amend these terms and conditions by giving notice to the Cardholder in the manner deemed fit by the Company.

10. General Provisions:

The Company shall not be held liable in case of being unable to perform its obligations provided for in these terms and conditions for any reason (direct or indirect)arising from any breakdown in any equipment, word processing system, communication line or for any other matter beyond the company's control.
The Company may fix a date in every month according to the statement of account date for the purpose of computing interest and fixing the due date of payment.
The Cardholder hereby undertakes to give a written notice to the Company in case of any alteration to his name and address. In case the Company enters into any agreements with insurance companies and other international organizations for acquiring certain benefits for the Cardholder, such companies and organizations shall assume the sole responsibility for achieving such benefits. These Terms and Conditions shall, where there are no express provisions, be governed and construed in accordance with the prevailing commercial and banking practices and laws in force in the Kingdom of Bahrain. The Courts of the Kingdom of Bahrain shall have the non-exclusive jurisdiction to settle any disputes arising between the Parties thereto.

11. Terms and Conditions (Prepaid Card):

In addition to the above terms and conditions, the following will apply to the prepaid card. No yearly subscription fees are applied. A prepaid cardholder can re-fill his Card by crediting the Cardholder's account through cash, cheque or debiting the cardholder's Bank of Bahrain & Kuwait Saving, current or Supersavers account. Should a Prepaid cardholder utilize or exceed the available limit, related charges will be applied (as mentioned in condition No. 4). No supplementary cards will be issue to any Pre-paid Credinet Cardholder.