TERMS AND CONDITIONS GOVERNING THE ISSUANCE AND USE OF
BPI EXPRESS CORPORATE CREDIT CARDS
1. THE BPI EXPRESS CREDIT CARD (“CARD”) – The CARD issued to the COMPANY for use of its employees or such other person as may be designated by the COMPANY, is the sole property of the Bank of the Philippine Islands (BPI) and is non-transferable. The privileges of the CARD may be terminated by BPI at any time and for whatever reason or cause without need of prior notice to COMPANY and/or CARDHOLDER and the COMPANY and/or the CARDHOLDER agree to surrender the CARD upon demand to any authorized BPI representative. The COMPANY and the CARDHOLDER agree to hold BPI free and harmless from any claim for damages arising from such termination. Continued use of the CARD after receipt of the written notice of termination shall be deemed fraudulent and will subject the COMPANY and/or CARDHOLDER to appropriate legal proceedings. Delivery of the said written notice at the COMPANY’S latest reported mailing address shall be considered sufficient receipt of the notice of termination. The issuance of the CARD shall not create any other obligation on the part of BPI other than those expressly stated herein.
The term "CARDHOLDER" shall refer to the person to whom or for whose use a CARD is issued by BPI, as instructed in writing by the COMPANY.
2. RESPONSIBILITY OF THE CARDHOLDER AND COMPANY – The COMPANY shall be liable for all purchases and cash advances made through the use of the CARD, including all interests, penalties, fees and all other charges without the necessity of proof of signed charge slips. If the CARDHOLDER uses the cash advance feature at any BPI Automated Teller Machine (ATM)/ and/or authorized network, the COMPANY hereby agrees to accept and pay for all cash advances including the corresponding interests, penalties, fees and other charges without the necessity of proof or ATM withdrawal/transaction record. The COMPANY and the CARDHOLDER agree that all purchases and cash advances using the CARD shall be conclusively presumed to have been personally made or authorized by the CARDHOLDER.
3. EXPIRY, RENEWAL AND REINSTATEMENT OF THE CARD – Unless earlier terminated by BPI, voluntarily cancelled or returned by the COMPANY and/or the CARDHOLDER, the CARD shall be valid from the day of issuance or renewal and expires on the last day of the month indicated on the face of the CARD. Renewal of the CARD shall be at the option of BPI. BPI shall likewise have the option of reinstating CARDHOLDER’s privileges which have been terminated for any reason whatsoever upon request of the COMPANY and its payment of an additional processing fee equivalent to the annual fee.
4. ACCREDITED ESTABLISHMENT – BPI has contracted with establishments to honor the CARD for purchases of food, goods, merchandise and services. Likewise, BPI has entered into an agreement with MasterCard where the CARD issued bearing the MasterCard label shall be honored at all MasterCard accredited establishments worldwide. However, BPI shall not be responsible/liable to the COMPANY and the CARDHOLDER, if, for any reason(s), the CARD is not honored by the accredited establishments or MasterCard. CARDHOLDER should always carry an alternative payment method and not solely rely on the CARD to process payment of goods and/services purchased. Dishonor of the CARD by the accredited establishments or MasterCard for any reason shall not give rise to any claim against BPI. The COMPANY and the CARDHOLDER agree to hold BPI free and harmless from any and all claims for damages resulting from the failure of any accredited establishment or MasterCard to honor the CARD.
The COMPANY’s and the CARDHOLDER’s liability to BPI are absolute. The existence of any claim or dispute between the COMPANY and/or the CARDHOLDER, on the one hand, and any accredited establishment, on the other, shall not affect COMPANY’s obligation to pay the purchases, availments and cash advances together with all interests, penalties, fees and other charges incurred thereon, if any, arising from the CARDHOLDER’s use of the CARD (the “Total Outstanding Balance” or “TOB”). In cases of return of goods, tickets and services obtained through the use of the CARD where the merchant permits such return, the COMPANY and the CARDHOLDER agree that, (i) the refund shall not be in cash; and (ii) BPI shall credit the CARDHOLDER’s account for the refund.
5. LOSS OF THE CARD – In case of loss or theft of the CARD, COMPANY and/or the CARDHOLDER should immediately report such fact to BPI by calling BPI Phone Banking at (02) 89-100, or domestic toll free at 1-800-188-89100, or if abroad, by calling 63+2+8910000 or our toll free numbers in selected countries listed in BPI Online Banking, giving details of the place, date, time and circumstances of the incident and the last purchase(s) made prior to the loss or theft of the CARD. Availments/transactions made and all interests, penalties, fees and other charges incurred arising from the use of the lost/stolen CARD shall be for the exclusive account of the COMPANY. After BPI is notified of such loss or theft, the COMPANY shall have no financial liability for purchases, availments and cash advances, including interests, penalties, fees or other charges which were not made or incurred by the CARDHOLDER himself or without the CARDHOLDER’s knowledge. Should the COMPANY and/or the CARDHOLDER fail to report immediately the loss or theft of the CARD to BPI from the date of loss or theft, and to state the required information as to place, date and last purchase, availments and cash advances made, said failure shall be deemed proof that the CARDHOLDER fraudulently made use of the CARD, and BPI or its member establishments shall be free and harmless from any and all claims for damages. A reasonable fee shall be charged by BPI for replacement of the lost or stolen CARD.
6. CREDIT LIMIT – Upon acceptance of COMPANY's application, BPI, based on the written instruction of the COMPANY and provided that the amount requested is within the available credit line granted by BPI to the COMPANY (the “Credit Line”), shall grant a credit limit to the CARDHOLDER expressed in local currency (Philippine Pesos) which represents the maximum outstanding balance that a CARDHOLDER is/are allowed to use at any given time (the “Credit Limit”). The COMPANY may, at its option request for the increase or decrease of the Credit Limit; provided, however, that in the case of an increase in Credit Limit, said increase is within the available Credit Line of the Company. In the event that the CARDHOLDER exceeds the Credit Limit, the COMPANY agrees to pay in full the TOB, which shall immediately become due and payable, without the necessity of notice and demand, all of which are waived by the COMPANY and CARDHOLDER. The Credit Limit is made available to the CARDHOLDER on the business day following any payment. BPI reserves the right, at its sole and absolute discretion, to decline any transaction(s) and/or suspend and/or terminate the credit CARD privileges of the CARDHOLDER without prior notice, in case the said Credit Limit shall be exceeded.
7. FEES AND CHARGES
a. ANNUAL FEES – The COMPANY shall pay to BPI an annual membership fee, in such amounts as may be fixed by BPI, to entitle the CARDHOLDER to the privileges of membership and the use of the CARD. Upon suspension or cancellation of the CARD privileges, all fees paid become non-reimbursable.
b. FINANCE CHARGES – Finance charge on regular purchases, fees and interest charges is computed by multiplying the applicable finance charge rate depending on the CARD type with the average daily balance (ADB). The applicable finance charge rates are subject to change by BPI from time to time with notice to the COMPANY.
The ADB is determined as follows:
i) Multiply the previous statement balance with the number of days that the amount is outstanding or unchanged. Your statement balance may include fees and interest charges.
ii) When a payment is made, deduct the amount from the statement balance and multiply with the number of days from the payment date until the next payment date or statement date.
iii) Sum up the balances computed and divide by the number of days from the previous to the current statement to arrive at the ADB.
Finance charges on Special Installment Plan (SIP), if such plan is made available, is computed by multiplying the total amount availed by the applicable interest rate, depending on the term. Monthly payment shall first be applied to interest then to the principal using the diminishing balance method.
c. PAYMENT OF CHARGES – BPI shall furnish the COMPANY a monthly Statement of Account (SOA) for each CARDHOLDER and the COMPANY agrees to pay the TOB or the “Minimum Payment Required” as stated in the SOA on or before the last day for payment indicated in the said SOA (the "Payment Due Date"). Such Payment Due Date may be changed to an earlier date if the CARDHOLDER's account is considered overdue and/or with balances in excess of the Credit Limit, or to such other date as may be deemed proper by BPI with notice to the COMPANY. If the Payment Due Date falls on a Saturday, Sunday or Holiday, the payment shall be due on the immediately preceding business day prior to the Payment Due Date. Notwithstanding the absence or lack of proof of service of the SOA upon the CARDHOLDER, the COMPANY agrees to pay any and all statement balances on or before the Payment Due Date. In case the COMPANY and/or CARDHOLDER does not receive the SOA, the COMPANY and/or CARDHOLDER shall inform BPI of the non-receipt of the SOA and shall inquire about the amount that is due arising from the use of the CARD and the Payment Due Date, by calling BPI Phone Banking at (02) 89-100 or by visiting any BPI branches nationwide. Failure of the COMPANY to pay the TOB or the “Minimum Payment Required” on the relevant Payment Due Date stated in the SOA and/or failure of the COMPANY to pay any other obligation, (including interests, charges, taxes, such as but not limited to Value Added Tax (VAT) and other disbursements allowed by law) which the COMPANY may now or hereafter owe to BPI or to any member of the BPI Group of Companies (BGC) or to any of their subsidiaries and affiliates such as but not limited to BPI Family Bank (BPIFB), BPI Capital Corp., BPI Century Tokyo Lease & Finance Corp., BPI Century Tokyo Rental Corp., and BPI Securities Corp., whether singly or jointly with another, or as principal or as guarantor, shall render the COMPANY in default without necessity of demand from BPI, which the COMPANY expressly waives.
The TOB remaining unpaid after the Payment Due Date indicated on the monthly SOA shall bear finance charges and additional interest and penalty fees based on the amount due for every month or a fraction of a month’s delay.
The rate of interest and/or penalty rate stipulated may be increased, decreased or otherwise changed from time to time by BPI in the event of, among others, changes in the interest rates prescribed by the Bangko Sentral ng Pilipinas (BSP) or in the international capital markets, in the rediscount rate of member banks with the BSP, in the interest rates on savings or time deposits or on bank’s borrowings, or there is a sudden change in the market rates for whatever reasons; or any law, circular, rule or regulation is enacted/issued or any circumstances has occurred which has the effect of increasing or decreasing BPI’s/bank’s costs of funds, operating costs or intermediation costs, such as but not limited to reserve requirements, taxes, salaries or charges. The COMPANY and the CARDHOLDER authorize BPI to increase or charge additional service fees as may be deemed necessary to maintain the service to the COMPANY and the CARDHOLDER. The upward or downward adjustment of the interest, penalty rate and/or service fees shall be binding on the COMPANY and the CARDHOLDER on the date(s) of effectivity as indicated in the written notice (in the monthly SOA or thru a separate notice) from BPI. Any CARD with TOB or such amounts due and payable thereunder that are unpaid after thirty (30) calendar days from original billing statement date shall automatically be suspended, and those with accounts unpaid after one hundred twenty (120) calendar days from original billing statement date shall automatically be cancelled, without prejudice to BPI’s right to suspend or cancel the CARD any time and for whatever reason. In case of default by the CARDHOLDER and/or the COMPANY as provided herein, the COMPANY shall surrender the CARD to BPI and shall, in addition to the interest and penalty charges aforementioned, pay the Other Charges specified in the immediately succeeding paragraph below, without prejudice, however, to BPI’s right of considering the COMPANY and/or CARDHOLDER’S obligation unpaid (costs for demanding payment or advising cancellation of membership shall also be for the COMPANY’s account).
In case of default by the CARDHOLDER and/or the COMPANY as provided herein, the COMPANY agrees to pay BPI the following: (i) attorney’s fees of twenty five percent (25%) of the amount due if the account is referred to a collection agency or attorney; (ii) a service fee for every dishonored check issued by the COMPANY and/or the CARDHOLDER in payment of the CARD account, and (iii) liquidated damages equivalent to twenty five percent (25%) of the unpaid amount, exclusive of litigation expenses and judicial costs, if the payment of the account is enforced through court action.
Overpayments by the COMPANY and/or the CARDHOLDER shall not earn interest and shall be applied to pay the succeeding TOB or “Minimum Payment Required”. In case of terminated or cancelled CARD accounts and an overpayment is unclaimed for more than one (1) month from the date of termination or cancellation, a monthly Account Maintenance Fee of Php50.00 or an amount equivalent to the overpayment whichever is lower, shall be charged on the account until the CARD balance is zeroed out.
d. CASH ADVANCE FEE – Cash Advance availments are subject to a cash advance fee. It can be availed at any BPI/BPI Family Savings Bank ATMs nationwide and through the Cirrus (for MasterCard credit CARDs) networks worldwide. To avail of this facility, the COMPANY must first request for activation of the Cash Advance feature, and/or request for issuance of Cash Advance PIN (CAPIN). Cash Advance shall be earmarked against the CARDHOLDER’s credit limit and is not an additional line of credit.
e. ISSUER’S SERVICE FEE ON FOREIGN CURRENCY TRANSACTIONS – All charges including those incurred abroad through the use of the CARD shall be billed and be payable in Philippine currency, subject to 1.75% fee on top of MasterCard’s foreign exchange rate on the date the transaction is posted.
f. OTHER FEES – Charge slip retrieval fee, CARD replacement fees, check protect fee, Special Installment Plan (S.I.P), pre-termination fees and other fees, when applicable, are charged to the CARD for the account of the COMPANY. As necessary, the fees may be revised from time to time.
8. ERROR OR QUESTIONS ABOUT YOUR CARD BILL – BPI shall be notified immediately through BPI Phone Banking at (02) 89-100, or domestic toll free at 1-800-188-89100, or if abroad, by calling 63+2+8910000 or our toll free numbers in selected countries listed in BPI Online Banking, and in writing, of any billing error in the SOA. If no error is reported within twenty (20) calendar days from statement date indicated in the SOA, the SOA shall be considered correct and binding upon the COMPANY and the CARDHOLDER. The COMPANY and the CARDHOLDER shall then recognize and admit the integrity of the SOA as an electronic document pursuant to the provisions of the Electronic Commerce Act and the COMPANY agrees to pay the amount thereon on Payment Due Date without need for presentation of the signed charge slips.
9. COMPLAINTS - For any other issues, concerns or clarifications, the Cardholder may call BPI Phone Banking at (02) 89-100 for Metro Manila, 1-800-188-89100 for domestic toll-free (available to PLDT subscribers) and 63+2+89-10000 for mobile phone and international access or visit any BPI branches nationwide. BPI will investigate such issues, concerns, and clarifications raised, and will provide the necessary feedback to Cardholder.
10. DEPOSIT/PLACEMENT ACCOUNT – Unless a different agreement or arrangement is made in writing by the COMPANY and BPI, the COMPANY and/or the CARDHOLDER agree to maintain a current or savings deposit/placement account(s) with BPI or BPIFB or any of their subsidiaries or affiliates (collectively, the “Bank”). Should the COMPANY fail to pay the TOB or any amounts due and payable under the CARD on the Payment Due Date, the amount thereof shall be debited from the deposit/placement account(s), without the necessity of a notice from BPI, or such amount as may be sufficient to be applied as payment of the TOB or any amounts due, upon presentation of the SOA to said Bank by BPI. It is agreed that these Terms and Conditions shall serve as a written authority for the Bank to debit, without notice, such TOB or any amounts due from the COMPANY’s and/or the CARDHOLDER’s deposit account(s) for the purpose aforementioned. BPI shall not be held accountable for any liabilities, charges, costs and expenses arising from any resulting returned/dishonored check drawn against the COMPANY’s and/or the CARDHOLDER’s deposit/placement/account with the Bank or for any penalty and fee that may be imposed as a consequence of the foregoing. Should the TOB or any amounts due under the CARD exceed the amount debited from the COMPANY’s and/or the CARDHOLDER’s deposit/account with the Bank, such excess shall immediately become due and payable and the COMPANY shall be considered in default of the obligations to pay the same.
11. RIGHT OF SET OFF – Effective upon the COMPANY’s failure to pay the obligation arising from the use of the CARD, the COMPANY hereby assigns and transfers to BPI, without need of demand, and by these presents have assigned and transferred to BPI, any money, security, property (real or personal) and thing of value which is now or may hereafter be in the possession, custody or control of BPI or any member of the BPI Group of Companies (BGC) or any of their subsidiaries or affiliates, on deposit or as collateral or otherwise to the credit of and belonging to the COMPANY. For this purpose, the COMPANY does hereby consent, authorize, appoint and irrevocably constitute, and by these presents has appointed and constituted BPI or any BPI Group of Companies (BGC) member, or any of its subsidiaries or affiliates, as ATTORNEY-IN-FACT with full power and authority to inquire about, to assert their lien or legal claim on such monies, securities, properties (real or personal) and things of value which are now or may hereafter be in the possession, custody or control of BPI or any BPI Group of Companies (BGC) member, or any of its subsidiaries or affiliates, to sell at public or private sale and to apply the same, in whole or in part, to such obligations. In the absence of such money, security, property (real or personal) or thing of value or if the CARD’s TOB exceeds the proceeds of the sale, the COMPANY hereby agrees to assign and deliver any deposit or funds the COMPANY may have with any other bank or financial institution to the extent of said COMPANY’s obligations to BPI. For this purpose, the COMPANY does hereby consent and authorize said bank or financial institution to disclose to BPI or its duly authorized representative regarding any information relative to any deposit/placement the COMPANY may have with any such bank or financial institution.
12. DELINQUENCY – The COMPANY is liable for all charges, fees and other obligations incurred through the use of the CARD and in the event of any future delinquency, the COMPANY authorizes BPI to report and/or include the names of the COMPANY in negative listings of any credit bureau or institution.
13. TERMINATION BY BPI – Without limiting the generality of Section 1, in the event (i) the COMPANY and/or the CARDHOLDER fails to comply with any of the Terms and Conditions herein as determined by BPI, or (ii) the COMPANY and/or the CARDHOLDER fails to observe any of the Terms and Conditions of any document or agreement which the COMPANY and/or the CARDHOLDER executed in connection with any loan and/or credit facility granted, or any product or services extended, by BPI or any member of the BPI Group of Companies (BGC) or any of its subsidiaries or affiliates, or (iii) in case the Credit Limit is exceeded, or (iv) for any reason, the COMPANY fails to renew the CARD or the CARD is not renewed by BPI, or (v) in case of closure by BPI or any member of the BPI Group of Companies, of COMPANY and/or CARDHOLDER's deposit account/s in accordance with the Terms and Conditions governing said deposit account/s, or (vi) CARDHOLDER dies or is separated from employment, or (vii) the COMPANY and/or the CARDHOLDER becomes bankrupt, insolvent, or undergoes receivership, or its property(ies) is/are levied on execution, garnished or attached, or (viii) the CARDHOLDER is convicted for a criminal offense with final judgment carrying with it the new penalty of civil interdiction, or (ix) any of the cases covered by Article 1198 of the New Civil Code (however evidenced) occur, or (x) the COMPANY and/or the CARDHOLDER is charged with, convicted of or under investigation by competent government authority for violation of Republic Act 8484 otherwise known as the "Access Devices Regulation Act of 1998", or (xi) CARDHOLDER or the COMPANY defaults in the performance of any obligations, covenants, or conditions under any agreement for borrowed money with any third party by which he/it or any of his/its assets may be bound, the right to use the CARD may forthwith be terminated by BPI with or without notice and the aggregate unpaid TOB of the CARD for which the COMPANY is liable, shall immediately become due and demandable, without the necessity of demand, which COMPANY and the CARDHOLDER waives. In case of termination by BPI pursuant to this paragraph, BPI is entitled to exercise the appropriate rights and remedies provided under these Terms and Conditions and shall not in any way be responsible for any liability, claim or demand of whatever kind and nature in connection with or arising from the termination of the CARD.
14. CANCELLATION/TERMINATION OF THE CARD – Voluntary cancellation of the CARD must be done by the COMPANY in writing subject to the immediate payment or settlement of the TOB. The COMPANY may surrender the CARD(s) to the Bank or perforate said CARD(s) to avoid unauthorized use.
15. CHANGE OF CONTACT DETAILS AND DELIVERY – COMPANY shall notify BPI immediately in writing of any change in its office and/or mailing address and/or telephone numbers.
16. CARD ADMINISTRATOR - The COMPANY shall designate a CARD ADMINISTRATOR who shall be authorized to receive the CARD, the monthly SOA, the renewal/replacement CARDs and any and all correspondences. The said items shall be mailed/delivered by BPI at the latest reported mailing address of the COMPANY, addressed to the CARD ADMINISTRATOR or the person so authorized by said CARD ADMINISTRATOR, and delivery of the same to CARD ADMINISTRATOR or the person authorized by said CARD ADMINISTRATOR, at the COMPANY’s latest reported mailing address, shall be effective and conclusively deemed to be sufficient receipt of said items by the COMPANY.
17. CHANGE OF STATUS – BPI shall be notified in writing of any change in civil status of the CARDHOLDER.
18. LIMITATION OF LIABILITY – In the event of any action against BPI for any cause whatsoever, the COMPANY and the CARDHOLDER agrees that BPI's total liability, if any, shall not exceed the amount of Pesos: Three Thousand (Php3,000.00) or the damages actually proven to have been suffered by the COMPANY and/or the CARDHOLDER, whichever is lesser.
19. AMENDMENTS – BPI may, at any time and for whatever reason it may deem proper, amend, revise or modify these Terms and Conditions and any such amendment shall bind the COMPANY and the CARDHOLDER upon notice (personal, by publication or otherwise) to the COMPANY or on the date of effectivity as specified in the notice, whichever is earlier, unless the COMPANY objects thereto, by manifesting the intention to terminate the CARD membership in writing and surrendering the CARD, within fifteen (15) calendar days from notice of amendment. Failure to notify BPI of the COMPANY’s intention to terminate the membership shall be construed as acceptance by the COMPANY of the amendments to these Terms and Conditions.
20. SEPARABILITY CLAUSE – The enforceability and validity of these Terms and Conditions, in whole or in part, shall not be affected by the unenforceability or invalidity, whether temporary or permanent, of any particular provision hereof because of restrictive laws, regulations, or judicial or administrative determinations obtained during any period hereof or for any other cause.
21. NON-WAIVER OF RIGHTS – No failure or delay on the part of BPI in exercising any right or power hereunder shall operate as a waiver thereof nor shall any partial or single exercise of any such right or power preclude any other right or power hereunder. No waiver by BPI of any of its rights or powers herein shall be deemed to have been made unless expressed in writing and signed by its duly authorized representative(s).
22. ASSIGNMENT/TRANSFER OF RIGHTS – All rights and interests of BPI under these Terms and Conditions may be assigned or transferred by BPI without the consent of the COMPANY and the CARDHOLDER.
23. CONSENT TO PROCESSING AND DISCLOSURE OF INFORMATION – BPI will keep information relating or pertaining to the CARDHOLDER and the COMPANY including, but not limited to, any information on his/her/its accounts, transactions, deposit accounts, credit relationships, and/or credit facilities (the “Information”) confidential except that for purposes of these Terms and Conditions and in connection with BPI’s and its subsidiaries and affiliates’ (the "BPI Group of Companies") (i) implementation, administration, facilitation and enhancements of the products, services, facilities and channels of any or all members of the BPI Group of Companies, (ii) pursuit of their respective marketing, promotional, communication, commercial and research objectives, (iii) regular conduct of business, and/or (iv) compliance with the requirements of applicable laws and/or government regulators or supervisory bodies, the CARDHOLDER and the COMPANY gives his/her/its consent to BPI’s, its directors, officers, employees, advisers, auditors, agents and representatives’ (collectively, the “Bank”) and to the BPI Group of Companies’:
a) collection, use, storage, consolidation and processing (collectively, “process” or “processing”) of Information;
b) outsourcing of the processing of Information to service providers, whether within or outside the Philippines;
c) verification or validation of Information from any and all sources and in any reasonable manner, including but not limited to:
(i) the Bureau of Internal Revenue (BIR) to establish the authenticity of the COMPANY’s/CARDHOLDER’s income tax return ("ITR") and the accompanying financial statements which the COMPANY/CARDHOLDER (may have) submitted to the Bank or any member of the BPI Group of Companies; and
(ii) courts or government or administrative agencies or arbitral tribunals on the status of any case or proceeding to which the COMPANY/CARDHOLDER is a party.
d) disclosure and sharing of Information:
i. among BPI and members of the BPI Group of Companies;
ii. to credit information or investigation companies, credit bureaus (including, but not limited to, the Credit Information Corporation (CIC) pursuant to Republic Act No. 9510 and its implementing rules and regulations), financial institutions, consumer reporting or reference agencies, credit protection provider or guarantee institutions, brokers, insurers, underwriters;
iii. to any judicial, governmental, supervisory, regulatory or equivalent body of the Philippines or other jurisdictions; such person or entity as required by the laws or regulations of any country with jurisdiction over the affairs or business of the Bank or any member of the BPI Group of Companies; stock exchange on which the shares or other securities of BPI or any member of the BPI Group of Companies are listed pursuant to its rules;
iv. to any potential transferee or assignee of the Bank’s rights and/or obligations under the relevant contracts or agreements;
v. to service providers engaged by the Bank or by any member of the BPI Group of Companies, or to marketing, promotional, network, loyalty program and joint venture partners and other relevant external parties, whether based within or outside the Philippines (collectively, the “Relevant Parties”); and,
vi. to such other persons or entities that the Bank or any member of the BPI Group of Companies, may deem necessary or appropriate to facilitate the above-stated purposes or those that may relate to or arise therefrom, as and when required by the circumstances.
The foregoing constitutes the express consent of the CARDHOLDER and the COMPANY under the applicable confidentiality and data privacy laws of the Philippines and other jurisdiction and agree to hold the Bank, each member of the BPI Group of Companies and the Relevant Parties, free and harmless from any and all liabilities, claims, damages and suits of whatever kind and nature, that may arise in connection with the implementation and compliance with the authorization conferred by the CARDHOLDER and the COMPANY hereunder.
The foregoing consent shall continue for the duration of, and shall survive the termination of, the use of the CARD.
24. CURRENCY OF PAYMENT – All charges incurred through the use of the CARD shall be billed and be payable in Philippine currency.
25. COMPLIANCE – The COMPANY and CARDHOLDER agrees to fully comply and abide by (i) the Terms and Conditions governing the use of the CARD, (ii) laws, statutes and regulations and BSP Circulars relevant to credit CARDs and credit accommodations and (iii) the provisions of Republic Act 8484 governing the use of the credit CARD and other access devices in commercial transactions.
26. CONTACTLESS PAYMENTS – The CARD issued to the COMPANY for the use of the CARDHOLDER may have a contactless feature which may be used by tapping or waving the CARD against an applicable contactless Point-Of-Sale (POS) terminal. Contactless transactions shall not require any signature, PIN, or other authentication on the part of the CARDHOLDER for transactions not exceeding two thousand Philippine pesos (Php2,000.00), or such other transaction amount BPI and MasterCard or Visa may set from time to time.
27. GOVERNING LAW AND VENUE OF ACTION - These Terms and Conditions shall be governed by and construed in accordance with the laws of the Republic of the Philippines, Venue of all suits directly or indirectly arising from the relationship between the parties herein shall be in the proper courts of the City of Makati or in other courts at the option of BPI.
28. OTHER TERMS AND CONDITIONS – The Terms and Conditions, reminders and other provisions contained in the CARD, the SOA, any Installment Plan Contract (if applicable), charge slips, Suretyship Agreements, Corporate Undertaking, and such other CARD documents, related instruments or documents, as well as the Terms and Conditions of the Bank of the Philippine Islands governing PRODUCTS, SERVICES, FACILITIES, AND CHANNELS, are made integral parts hereof by reference and shall likewise be resorted to in instances where they are applicable. It is agreed that the Terms and Conditions herein, as well as the aforementioned Terms and Conditions, including reminders, rules and regulations promulgated by BPI from time to time (the "Other Terms and Conditions") shall constitute the agreement among BPI, the COMPANY and the CARDHOLDER and shall govern the use of the CARD.
Any alterations, amendments, exceptions, reservations or scribbling herein made by the COMPANY and/or the CARDHOLDER or in the Other Terms and Conditions, not duly approved in accordance with BPI’s appropriate procedures, shall not be valid and binding upon BPI.
The CARDHOLDER’s signature on the CARD, or the use of the CARD, likewise constitutes the COMPANY’s and the CARDHOLDER's agreement to, and acceptance of, these Terms and Conditions as well as the Other Terms and Conditions.
Updated as of December 2016