These Terms and Conditions apply to and regulate the provision of Credit Card facilities by ICICI Bank Limited.

• “ Affiliate ” means and includes:

For the purpose of the definition of Affiliate, “ Control ” when used with respect to any Person, means the power to direct the management and policies of such Person, directly or indirectly, whether through the ownership of the vote carrying securities, by contract or otherwise howsoever and “ Person ” means any individual, company, firm, corporation, a partnership, trust or any other entity or organisation or other natural or legal person.

In these Terms and Conditions, unless the contrary intention appears:

(a) a reference to :

an " amendment " includes a supplement, modification, novation, replacement or re-enactment and "amended" is to be construed accordingly;

an " authorisation " or “ approval ” includes an authorisation, consent, clearance, approval, permission, resolution, license, exemption, filing and registration;

“ law ” includes any constitution, statute, law, rule, regulation, ordinance, judgement, order, decree, authorisation, or any published, directive, guideline, requirement or governmental restriction having the force of law, or any determination by, or interpretation of any of the foregoing by, any judicial authority, whether in effect as of the date of signing/submission of the Application Form or thereafter and each as amended from time to time.

(b) the singular includes the plural (and vice versa);

(c) the headings in these Terms and Conditions are inserted for convenience of reference only and are to be ignored in construing and interpreting the Terms and Conditions;

(d) reference to the words “include” or “including” shall be construed without limitation;

(e) reference to a gender shall include references to the female, male and neuter genders;

(f) all approvals, permissions, consents or acceptance required from ICICI Bank for any matter shall require the prior, written approval, permission, consent or acceptance of ICICI Bank;

(g) references to VISA/MASTERCARD regulations pertain to the guidelines issued by VISA/MASTERCARD to all the member banks of its network.

(h) in the event of any disagreement or dispute between ICICI Bank and the Card Member regarding the materiality of any matter including of any event, occurrence, circumstance, change, fact, information, document, authorisation, proceeding, act, omission, claims, breach, default or otherwise, the opinion of ICICI Bank as to the materiality of any of the foregoing shall be final and binding on the Card Member.

(i) the usage of the words “ICICI Bank Credit Card Agreement” on the Card or elsewhere, means these Terms and Conditions.

The Card is the property of ICICI Bank. ICICI Bank reserves the right to (1) ascertain the credit worthiness of the Applicant by obtaining credit bureau report and such other reports as it may deem necessary and (2) decline to issue a Card to any Applicant at its sole discretion. The Card is not transferable and its usage is subject to the terms mentioned herein and any additional conditions stipulated by ICICI Bank from time to time. The Card Member shall sign on the reverse of the Card immediately on receipt of the same. The ICICI Bank 24-Hour Customer Care Centre and/or Infinity is available to all Card Members. The Card Members availing of any services / facilities including but not limited to, enhancement of credit limit, enquiry on transactions, Total Amount Due, Statement details, Payment Due Date, etc. through ICICI Bank 24-Hour Customer Care Centre and/or Infinity, shall at all times continue to be bound by the terms and conditions stipulated by ICICI Bank with respect to the services / facilities and the mode of availing such facilities / services, as amended from time to time.

To enable the Card Member to use the Card, a Personal Identification Number (APIN) will be issued to him in the first instance. The APIN shall be mailed to him and in the event the same is not received in a sealed envelope the Card Member shall contact an ICICI Bank branch or the ICICI Bank 24-Hour Customer Care Centre. This APIN may subsequently, be changed by the Card Member, at his own risk, at an ATM or at the ICICI Bank branch or at the ICICI Bank 24-Hour Customer Care Centre. The APIN provides access to the Card Account and the Card Member accepts the sole responsibility for use, confidentiality and protection of the APIN, as well as for all orders and information changes entered into the Card Account using such APIN. The Card Member shall not record the APIN in any form so as to facilitate the APIN coming to the knowledge of a third party. ICICI Bank is authorised by the Card Member for carrying out transactions and instructions authenticated by the APIN and shall not revoke the same. ICICI Bank has no obligation to verify the authenticity of the Transaction Instruction sent or purported to have been sent from the Card Member other than by means of verification of the Card Member’s APIN. The Card Member shall at all times take all appropriate steps, including those as mentioned herein, to maintain the security of the APIN. If the Card Member fails to observe the security requirements, he may incur liability for ICICI Bank. ICICI Bank may, in its absolute discretion, issue a new APIN on the existing Card. Subject to the provisions stated herein and as specified by ICICI Bank from time to time, the Card Member will not hold ICICI Bank liable in case of any improper/ fraudulent/unauthorized/ duplicate/erroneous use of the Card and/or the APIN. ICICI Bank will also not be liable for any consequences connected with the use/ misuse of the Card by any third party due to the Card falling in the hands of any third party or the APIN coming to the knowledge of any third party. If any third parties gain access to the services, including the Card Account, the Card Member will be responsible and shall indemnify ICICI Bank against any liability, costs or damages arising out of such misuse / use by third parties based upon or relating to such access and use, or otherwise.

V. BREACH & TERMINATION / WITHDRAWAL

(a) Breach: In the event of breach of any of these Terms and Conditions by any Card Member;

(i) notwithstanding any other provision of these Terms and Conditions the Card Member will remain liable for any loss directly or indirectly resulting from such a breach; and
(ii) The Card Member will be liable to pay ICICI Bank, upon demand, all amounts outstanding from the Card Member to ICICI Bank, whether due and payable to ICICI Bank at the date of such demand or not.

(b) Termination / Withdrawal:

The Card Member may at any point of time, by notice in writing to ICICI Bank, request for termination of the Card Account.

(i) The aforesaid notice will not take effect till the Card has been defaced by cutting off the top right hand corner ensuring that both the hologram and magnetic stripe have been cut (except in case of an Online credit Card), and has been received by ICICI Bank. Save as aforesaid, neither the Card Account nor any Card may be terminated.

(ii) In the event the Charges are incurred on the Card after the Card Member claims to have destroyed the Card, but the Card has not been received by ICICI Bank, the Card Member shall be entirely liable for charges incurred on the Card, whether or not the same are the result of the misuse and whether or not ICICI Bank has been intimated of the destruction of the Card.


(iii) ICICI Bank may at any time, with or without notice, as to the circumstances in ICICI Bank's absolute discretion require, terminate the Card Account and the Card.

(iv) On termination of the Card Account and notwithstanding any prior agreement between ICICI Bank and the Card Member to the contrary: (A) the total of all the Charges then outstanding, whether or not already reflected in the Statement and, (B) the amount of any Voluntary Charges incurred after termination (with effect from the date of relevant Transaction Instruction), shall become forthwith due and payable by the Card Member as though they had been so reflected, and interest will accrue thereon from the date such charges have been incurred, as applicable from time to time.

(v) ICICI Bank, at its sole discretion, reserves the right to, either temporarily or permanently, withdraw the privileges on the Card and/or cancel the Card at any time without giving any notice or assigning any reason therefor. In case of a temporary withdrawal, the privileges may be reinstated by ICICI Bank at its sole discretion. In case of a permanent withdrawal, ICICI Bank has a right to refuse membership to the Card Member permanently. However, it is made distinctly clear that withdrawal (temporary or permanent) shall constitute automatic withdrawal of all attendant benefits, privileges and services attached to the Card. In the event of such temporary or permanent withdrawal, the Card Member shall continue to be fully liable for all charges incurred on the Card prior to such withdrawal, together with all other applicable charges thereon, unless otherwise specified by ICICI Bank.

(vi) Card may be withdrawn and the Card Account may be closed at any time without reference to the validity period embossed on the Card. The Card Member agrees to surrender the Card to ICICI Bank, or its representative, upon being requested to do so. Use of the Card after the notice of withdrawal of its privileges is fraudulent and subjects the Card Member to legal proceedings.

VI. CHARGES & PAYMENTS

Charges comprise each of the following:

(A) Voluntary Charges will include:

• The amount of any purchase of goods and / or service made by a Transaction Instruction;
• The amount of any cash advance provided pursuant to a Transaction Instruction;
• Any amount, which the Card Member has requested ICICI Bank to debit the Card Account by virtue of a Transaction Instruction

(B) Involuntary Charges will include:

• Any fees charged by ICICI Bank in respect of a Card Account or a Card, including joining, annual, replacement, renewal, handling, late payment and other fees.
• The joining / annual fees will be debited to the Card Account at ICICI Bank's prevailing rates. These fees shall be non-refundable.
• An annual fee towards renewal of membership shall be payable by the Card Member on or before the first anniversary of the Card.
• Service charges on specific types of transactions as decided by ICICI Bank from time to time may be levied. The method of computation of Involuntary Charges will be as notified by ICICI Bank from time to time.

(C) ICICI Bank's record of the amount of any Charge, specified herein above, shall, in the absence of manifest error, be final and binding on the Card Member, and shall be conclusive in any case where ICICI Bank has effected any payment pursuant to a Voluntary Charge.

All statutory taxes, service tax, all other imposts, duties (including stamp duty and relevant registration charges, if any, in connection with the Card) and taxes (of any description whatsoever) as may be levied from time to time by the Government or other authority in respect of or in connection with the Card.

(D) Delayed or Amended Charges

a) A Merchant may process delayed or amended charges if the Card Member has consented to be liable for delayed or amended charges for a Hotel, Car Rental Company, or Cruise Line Transaction or any other transactions.

b) A delayed or amended charge shall be processed to the Card Account within 90 calendar days of the transaction date of the related transaction.

c) These transactions may include room, food or beverage charges, taxes, fuel, insurance, rental fees, damage to rental vehicles, parking tickets and other traffic violations, and goods and services purchase aboard a Cruise Line vessel.

(E) Charges in Foreign Currency

In respect of Cards other than internationally valid Cards, ICICI Bank will not be bound to take cognisance of, and will not be liable in any manner whatsoever in respect of any charges which are incurred in foreign currency in the territories other than Nepal & Bhutan. Without prejudice to the aforesaid, any payment of such Charges made by ICICI Bank will be with full recourse to the Card Member, and will not be considered as absolving the Card Member of any liability in relation to incurring of such charges or payments thereof by ICICI Bank. ICICI Bank shall be fully indemnified and held harmless against all consequences of such payments, by the Card Member.

(F) Transactions with Railways

When a ticket is booked with a Credit Card, the Card Member will have to pay for the purchase of the ticket subject to any additional charges, if applicable. For any ticket subsequently cancelled the amount will only be credited to the Card Account (less cancellation charges) as and when credit for the same is received by ICICI Bank. However, on successful submission of the charge slip to ICICI Bank by the Card Member, within 150 days from the date of cancellation together with a letter confirming the date of purchase, the date of cancellation and a copy of the Statement where the debit has appeared for the purchase of the tickets, the credit shall be posted to the Card Member's Card Account. A transaction fee as applicable will be levied.

(G) Transactions at Fuel Stations

When the Card Member uses the Card to pay for fuel, he will be charged a transaction fee as mentioned in the Tariff Annexure.

(H) The Card Member shall become liable as soon as a Charge has been incurred by use of the Credit Card. If there are any outstandings (whether billed or not) remaining unpaid as on a Payment Due Date then such outstanding shall bear and carry such Charges as specified in the Tariff Annexure. The charge is computed on an average daily balance method and will be levied from either of the following dates:

• Where the charge is in respect of purchase of goods or services, from the date of it being included in the records of ICICI Bank.
• Where the charge is in respect of withdrawal of cash, from the date of such withdrawal up to the date of receipt of payment by ICICI Bank.

Please note: Use of Card for purchase of jewellery and electronics shall be subject to approval selectively after a special review by ICICI bank, in the first six months of membership as a Card Member.

(I) Without prejudice to the liability of the Card Member to immediately pay all Charges on or before the Payment Due Date, as communicated in the Statement, the Card Member may exercise the option to pay on or before the Payment Due Date, only the Minimum Amount Due (MAD) indicated in the Statement. The MAD shall be 5% of the Total Amount Due, or such other amount as may be determined by ICICI Bank at its sole discretion. If there is some unpaid MAD of the previous Statements, these will also be added to the MAD of the current Statement. If the total outstanding is more than the Credit Limit, then the amount by which the Credit Limit has been exceeded will also be included in the MAD. If the Card Member's Cash Withdrawal exceeds his Cash Limit then his MAD shall be either 5% of the Total Amount Due or the amount by which the Card Member has exceeded his Cash Limit, whichever is higher. In cases where only the MAD has been paid, interest would be charged on the remaining amount of the Total Amount Due from the date of the transactions. Where such an option to pay only MAD is exercised by the Card Member, the same shall additionally be subject to the following special terms and conditions:

a) On receipt of the Statement, the Card Member can make the payment in any of the following ways, by way of Cash, Cheque, Draft, through Infinity, or payment instructions, to ICICI Bank for the Total Amount Due as indicated in the Statement or an amount equal to or more than the Minimum Amount Due (MAD) by the Payment Due Date.

b) All charges incurred by the use of the Card shall bear and carry a service charge in the manner as stated under (clause (H) above).

c) If payment is made for the MAD or for any amount less than the Total Amount Due, interest and service charges will be applied on the total outstanding amount from the date of purchase, and on fresh purchases that are incurred subsequently, till subsequent Payment Due Date. In addition to the charges as stipulated hereinabove, MAD remaining unpaid after the Payment Due Date will attract a late payment charge.

Any MAD or portion thereof that has been paid shall cease to attract interest after the Payment Due Date if the same has been received by ICICI Bank from the Card Member.

* ICICI Bank may, at its sole discretion, at any time, without prior notice, withdraw the option to pay only the MAD as described in the foregoing clauses, in relation to any Card Member.

ICICI Bank will assign a Credit-Limit to a Card Account, which must not be exceeded at any time. However, if the total outstandings exceed the Credit-Limit, an additional charge will be levied on the excess amount. The Card Member shall be entitled to apply for a review / enhancement / reduction of the Credit-Limit, upon completion of 12 months of his membership. Alterations upon such review, if any, of the Credit Limit will be at the sole discretion of ICICI Bank. ICICI Bank shall be entitled to review (including enhancement or reduction) the Credit Limit assigned on the Card and enhancements, if any, to the Credit Limit, shall be effected by ICICI Bank, subject to the consent of the Card Member.

Note: If the payment for the Total Amount Due is received by ICICI Bank on or before the Payment Due Date, no service charge will be levied. However, all cash transactions and drafts will attract a service charge at the prevailing rate from the date of transaction until the payment for the same is received by ICICI Bank.

(J) ICICI Bank will be entitled, but not bound, to give effect to any instructions given by the Card Member to effect his Credit Card payments by crediting his Card Account and debiting, with like amount, such other account as may have been established by the Card Member with ICICI Bank. The whole of the outstanding balance on the Card Account, together with the amounts of any outstanding Card transactions, effected but not yet charged to the Card Account, shall become immediately due and payable in full to ICICI Bank, by the Card Member, his successors, nominees, legal heirs in the event of his death (after adjustment of Credit Shield benefit*) or insolvency or winding up of the business of the Card Member.

*For details on Credit Shield benefit refer Tariff Annexure.

(K) The Card Member expressly accepts that if he fails to pay any money when due, or which may be declared due prior to the date when it would otherwise have become due, or commits any default under agreement with ICICI Bank under which the Card Member is enjoying any financial/credit/other facility, then, ICICI Bank shall, at its sole discretion, without prejudice, exercise all or any of its rights and remedies available to it in these Terms and Conditions and/or applicable laws.

(L) Without prejudice to the other rights of ICICI Bank hereunder, in case of delay in payment ICICI Bank reserves the right to withdraw the Credit Card privileges by instructing the Merchant Establishments not to honour the Credit Card. The Card Member accepts that, at its sole discretion, ICICI Bank or its appointed representatives/agents, may at any time follow up with him for payment against charges earlier incurred on the Card. The Card Member also agrees to pay all costs (including legal costs) of collection of all dues, all charges incurred by ICICI Bank for related and incidental matters including, charges for renewal/ replacement of a Card, for duplicate Statement / charge-slip, transaction fee for cash advance, collection charges for outstation cheques, penal fees for returned payments and like expenses, and in the event of legal action initiated, all legal expenses and decretal amount with interest.

For details on all Charges refer Tariff Annexure.

VII. CASH WITHDRAWAL

The Card Member can use the Card to access emergency cash from teller counters at ICICI Bank branches/Automated Teller Machines (ATMs) of select ICICI Bank locations or correspondent banks/other locations as decided periodically by ICICI Bank. The total amount that can be withdrawn under this facility at any point in time should not exceed the available Cash Limit as specified by ICICI Bank for each Card Member. The Card Member shall be required to retain the record of the transaction, generated by the ATM, with him. A transaction fee would be levied on all charges and would be billed to the Card Member in the Statement communicated thereafter. In addition, all cash withdrawals will also attract a service charge calculated on an average daily outstanding balance method from the date of such withdrawal till the payment is received by ICICI Bank. This service charge will be debited to the Card Account. The transaction fees and service charges as mentioned above are non-refundable.

VIII. DRAFT ON PHONE

Request for issue of drafts can be made on the Card Account over the telephone through the ICICI Bank 24-Hour Customer Care Centre. All drafts will be issued only for amounts not exceeding the available Cash-Limit and a transaction fee would be levied on all drafts and would be billed to the Card Member in the Statement. In addition to the transaction fee, all drafts will also attract a service charge and shall be payable from the date of issuance of the draft to the date of repayment by the Card Member to ICICI Bank. The service charge will be debited to the Card Account at ICICI Bank's prevailing rate. The transaction fees and service charges as mentioned above are non-refundable. ICICI Bank reserves the right to discontinue this facility at anytime without prior notice and without liability to the Card Member. The draft once issued will be mailed /couriered to the Card Member's mailing address last recorded in ICICI Bank’s records. While every effort will be made to deliver the draft within 4 working days from the time the request is received by ICICI Bank 24-Hour Customer Care Center, no assurance in this behalf is held out.

ICICI Bank will not be responsible on account of non-delivery or delays in delivery or non-receipt of drafts. If a draft is lost or is to be cancelled, the ICICI Bank 24- Hour Customer Care Centre must be informed immediately. ICICI Bank will refund the principal of the draft only through credit to the Card Account after receiving a duly filled indemnity

(in a form acceptable to ICICI Bank) from the Card Member. For drafts to be cancelled the draft must be returned and a cancellation charge will be levied. If a draft is lost/stolen, ICICI Bank will not be responsible for replacement or compensation.

IX. INSURANCE BENEFIT

The Card Member may be offered various insurance benefits from time to time by ICICI Bank through a tie up with the Insurance Company. In all cases of claim, the Insurance Company will be solely liable for settlement of the claim, and the Card Member will not hold ICICI Bank responsible in any manner whether for compensation, recovery of compensation, processing of claims or for any other reason whatsoever. Subject to the terms of the para below, the Insurance Company will be absolved of all its liabilities by releasing approved dues to the nominee of the Card Member whose name and signature, duly witnessed, appears on the insurance nomination form forwarded by the Card Member to the Insurance Company directly or through ICICI Bank. Any change in the nomination will be intimated to ICICI Bank by the Card Member in writing. The Card Member further acknowledges that the insurance benefits so provided will be available to the Card Member only so long as the Card Member is and remains a Card Member of ICICI Bank with his Card Account being good and regular and no event of default has occurred. The Card Member further agrees that the insurance claim proceeds may be placed in escrow by the Insurance Company at the direction of ICICI Bank until satisfactory discharge of all outstanding liabilities on the Card by the Card Member. In the event of the Card facility being terminated, for whatever reason, all such insurance benefits shall automatically and ipso facto cease to be available from such date of cessation of membership. ICICI Bank may at any time (at its sole discretion without giving any prior notice thereof) modify, suspend, withdraw or cancel these insurance benefits and there will be no binding obligation on ICICI Bank to continue these benefits.

X. LOST, STOLEN OR MISUSED CREDIT CARDS

If a Card is lost or stolen, the Card Member must report the loss/theft to ICICI Bank 24 Hour Customer Care/Infinity within 24 hours of such loss/theft. However, in case of loss of Card due to theft, the Card Member must also file a report with the local police station and send a copy of the same to the card operation office of ICICI Bank at the address as embossed on the back of the Card. ICICI Bank will, upon adequate verification, suspend the Card Account and terminate all facilities in relation thereto and will not be liable for any inconvenience caused to the Card Member.

Card Members shall take cognisance of the fact that once a Card is reported lost, stolen or damaged, the Card cannot be used again, even if found subsequently. The Card Member declares that if a Card is reported lost, damaged or stolen, it shall not be used again, even if found or said to be in a non-damaged condition subsequently. In such cases, the Card Member shall promptly cut the Card in 4 pieces and return the same to ICICI Bank for cancellation. The Card Member is responsible for the security of the Card and shall take all steps towards ensuring that the Card is not misused. In the event that ICICI Bank determines that the Card Member has failed to take the steps as mentioned above in case of loss / theft / destruction of the card and the same are questionable, financial liability on the lost, stolen or damaged card would rest with the Card Member and could even result in cancellation of the Card Account. The Card Member shall be fully liable for: (a) any unauthorised use of the Card for the period preceding 48 hours, as counted from the end of the day of reporting of the loss/theft/damage; and/or (b) all authorised transactions on the Card irrespective of the 48 hour period preceding the reporting of the loss/theft/damage, or the period preceding such 48 hours.

No liability shall attach to the Card Member for any unauthorized transactions done on the Card after the reporting of the loss/theft/damage of the Card and upon ICICI Bank having suspended the Card Account.

XI. EXCLUSION OF LIABILITY

Without prejudice to the remedies available to ICICI Bank and these Terms, ICICI Bank shall be under no liability whatsoever to the Card Member in respect of any loss or damage arising directly or indirectly out of:

a) any defect in any goods or services supplied;
b) the refusal of any person/Merchant Establishment to honour or accept a Card;
c) the malfunction of any computer terminal;
d) the giving of Transaction Instruction by any person other than by a Card Member;
e) handing over of the Card by the Card Member to anybody other than ICICI Bank or its representatives;
f) ICICI Bank exercising its right to demand and procure the surrender of the Card prior to the expiry date exposed on its face, whether by ICICI Bank;
g) the exercise by ICICI Bank of its right to terminate any Card and the Card Account;
h) any injury to the credit character and reputation of the Card Member alleged to have been caused by the repossession of the Card and/or, any request for its return or the refusal of any merchant establishment/ mail order establishment to honour or accept the Card;
i) any mis-statement, misrepresentation, error or omission in any details disclosed by ICICI Bank;

In the event a demand or claim for settlement of outstanding dues from the Card Member is made, either by ICICI Bank or any person acting on behalf of ICICI Bank, the Card Member agrees and acknowledges that such demand or claim shall not amount to be an act of defamation or an act prejudicial to or reflecting upon the character of the Card Member, in any manner.

XII. BALANCE TRANSFER FACILITY

Under the Balance Transfer facility, ICICI Bank shall at its sole discretion, permit the Card Member to transfer all or part of his outstanding balances on credit cards issued by other banks / entities, to his Card Account. ICICI Bank shall send the demand draft to the mailing address of the Card Member, favouring the other bank / entity issuing the credit card for crediting the Card Account of the Card Member with such other bank / entity for the approved transfer amount. ICICI Bank shall not be liable for any overdue payments or service charges incurred by the Card Member in respect of his other credit card. The Card Member should continue to make payments to the other credit card issuing bank / entity until he receives the confirmation in a future statement provided that his card account with the other credit card issuing bank / entity has been credited.

XIII. SUPPLEMENTARY CARD

ICICI Bank at its sole discretion and if agreed and authorised to be issued by the Primary Card Member, issue a Supplementary Card to the family members of the Primary Card Member on such terms and conditions as decided by ICICI Bank from time to time. The holder of any Supplementary Card and the Primary Card Member, authorising its issuance, are jointly and severally bound by these Terms and Conditions and the Primary Card Member, though primarily responsible, assumes joint and several liability for all charges incurred by the Supplementary Card Member. The facility of a Supplementary Card, being a special facility at such fee/rate as may be stipulated by ICICI Bank from time to time, continuation of the membership of the Supplementary Card Member will be solely dependent on the continuation of membership of the Primary Card Member.

XIV. BILLING

All Card Members will be billed on a monthly basis for all Charges incurred by the use of Card and for all charges applicable to the Card Account. ICICI Bank shall endeavor that no delay is caused in dispatching the Statement to the Card Member. However, there may be no Statement generated for the period in which there has been no outstanding due and no transaction on the Card Account in the preceding month.

ICICI Bank shall endeavor to provide Statement online with suitable security to ensure that the Statement can be accessed only by the Card Member.

In the event of non-receipt of the Statement, for any reason whatsoever, there being no delay on part of ICICI Bank in dispatching them, the Card Member shall pay ICICI Bank the sum total of all dues calculated by using copies of the charge slips in his possession by the Payment Due Date or by enquiring the same by calling ICICI Bank 24 Hour Customer Care Centre.

XV. TERMS FOR MERCHANT BASED INSTALLMENT PROGRAM

ICICI Bank shall be entitled to, at its sole discretion, make available to individual Card Member, installment programs on the Credit Card, without prejudice to the obligation of the Card Member to make immediate payment on the incurring of the Charge, the Card Member may, seek to avail of the option of paying for certain purchases through Equated Monthly Installments (EMIs) as will be informed to the Card Member by ICICI Bank 24 Hour Customer Care Centre and as indicated in the Statement sent to the Card Member which shall be subject to the following terms:

(i) Once a Card Member has opted for payment by EMIs, any subsequent change will attract a pre-closure charge as may from time to time be fixed by ICICI Bank depending upon the nature of the purchase;

(ii) In case any portion of the billed and outstanding charges are not permitted to be paid in EMIs and such portion is not paid by the Payment Due Date, the same will bear and carry an interest, service charge and late payment charge at the rate and in the manner stated in Clause VI;

(iii) The EMI facility will be available with respect to the Credit Card which presently comprise of the following purchases, viz.,

• New purchases at Merchant Establishment;
• Conversions of past purchases at Merchant Establishment through ICICI Bank 24 Hour Customer Care Centre.

(iv) The EMI facility is available to the Card Member at ICICI Bank’s sole discretion and such facility will be available:

(a) for such period and at such Merchant Establishments as ICICI Bank may decide;

(b) the interest component of the EMIs will be Card Member and Merchant specific as decided by ICICI Bank;

(c) the amount of down payment, the amount of transaction fee, the tenure for the payment of EMIs and other payment particulars will be Card Member and Merchant specific as ICICI Bank may decide.

XVI. AUTO DEBIT FACILITY

The Card Member may avail of auto debit facility for making the payments of the Card dues. On availing the auto debit facility, the bank account of the Card Member (details of which shall be provided to ICICI Bank) will be debited, for the amount mentioned above, on the Payment Due Date as indicated in the Statement sent to the Card Member. Provided, however, that the Payment Due Date should be a Business Day otherwise the bank account shall be debited on the Business Day immediately preceding the holiday. In the event of the said bank account not having sufficient funds on the Payment Due Date, the Card Member shall be liable to pay all the Charges applicable in addition to the Card dues. The Card Member agrees and confirms that all the particulars submitted to ICICI Bank by the Card Member for availing of the auto debit facility shall be correct and complete. ICICI Bank shall not be liable if the auto debit transaction is delayed or not effected at all for reasons of incomplete or incorrect information or for any reason whatsoever. The Card Member further agrees and undertakes to inform the Card Member's bank of the auto debit instructions issued in favour of ICICI Bank and not to close the said bank account without the prior consent of ICICI Bank. Such instructions cannot be withdrawn / cancelled except with the written consent of ICICI Bank.

XVII. RETURNED PAYMENTS

In case the cheque, or any other payment instrument or instruction given by the Card Member, towards payment of his Card dues, is not honoured, or must be returned to the Card Member because it cannot be processed, ICICI Bank reserves the right to initiate legal proceedings against the Card Member and will levy fee at its sole discretion and/or temporarily/permanently cancel the Card. The Card Member will also be liable to pay the cheque return charges and late payment charges or any other charges as may be decided by ICICI Bank.

XVIII. DISPUTES


Any charge slip, or other payment requisition, received by ICICI Bank for payment shall be conclusive proof that the charge recorded on such a charge slip or other requisition, was properly incurred by the Card Member, unless the Credit Card is lost, stolen or fraudulently misused and the same is reported as provided in Clause IX herein above, the burden of proof for which shall be on the Card Member. The other payment requisition referred to in this clause shall include any and all payments pertaining to permissible expenses incurred by a Cardholder at a Merchant Establishment by use of the Card which is not recorded as a Charge.

Signature of the Card Member on such charge slips together with the Card number noted thereon shall be conclusive evidence of the liability incurred by the Card Member. In case of facilities availed of through the ICICI Bank 24-Hour Customer Care Centre/Infinity access to the ICICI Bank 24 Hour Customer Care Center/Infinity by using the APIN/Password/User-id will be conclusive proof of the Card Member effecting the transaction. ICICI Bank shall not be required to ensure that the Card Member has duly received the purchased goods or services. In the event the Card Member chooses to disagree with a charge indicated in the Statement, the same should be communicated to ICICI Bank within 60 (Sixty) days of receipt of the Statement, failing which it would be construed that all Charges indicated in the Statement are in order.

XIX. SECURITY

In case of a secured Credit Card the whole of the outstanding balance on the Card Account, together with the amount of any outstanding Card transactions alongwith interest and all other cost, charges as mentioned hereunder, effected but not yet charged to the Card Account during the usage of the Credit Card by the Card Member will be secured by way of pledge/hypothecation of such securities / fixed deposits / such other assets as approved by ICICI Bank standing in the name of the Card Member singly or jointly with any other person or securities standing in the name of the third party, in the form and manner as prescribed by ICICI Bank. The Card Member shall execute all such documents in the form and manner satisfactory to ICICI Bank for creation the security. Costs involved in creation of security and completion of all other formalities, including but not limited to stamp duty, etc. shall be borne by the Card Member.

XX. COLLECTIONS

ICICI Bank shall be entitled, at the sole risk and cost of the Card Member, to engage one or, more person(s) to collect the Card Member’s dues and/or to enforce any security provided by the Card Member, and ICICI Bank may (for such purposes) furnish to such person(s) such information, facts and figures pertaining to the Card Member and the security as ICICI Bank deems fit. ICICI Bank may also delegate to such person(s) the right and authority to perform and execute all acts, deeds, matters and things connected therewith, or incidental thereto, as ICICI Bank deems fit.

XXI. QUALITY OF GOODS & SERVICES


ICICI Bank shall not, in any way, be responsible for merchandise, merchandise warranty or services purchased, or availed of by the Card Member from Merchant Establishments, including on account of delay in delivery, non-delivery, non-receipt of goods or receipt of defective goods by the Card Member. It must be distinctly understood that the Credit Card is purely a facility to the Card Member to purchase goods and/or avail of services, ICICI Bank holds out no warranty or makes no representation about quality, delivery or otherwise of the merchandise. Any dispute or claim regarding the merchandise must be resolved by the Card Member with the Merchant Establishment. The existence of the claim or dispute shall not relieve the Card Member of his obligation to pay all the Charges to ICICI Bank and the Card Member agrees to pay such charges promptly.


XXII. CREDIT TRANSACTION


A debit for a purchase and a subsequent credit for cancellation of goods / services are two separate transactions. The Card Member must pay for the purchase transaction as it appears in the Statement to avoid any additional charges being levied. On cancellation the refund will only be credited to the Card Account (less cancellation charges) as and when received by ICICI Bank. However, on successful submission of credit charge slip by the Card Member, the credit shall be posted to the Card Account. If the credit is not posted to the Card Account within a reasonable time, the Card Member must notify ICICI Bank.


XXIII. CHARGES MADE IN FOREIGN COUNTRIES

The Card Member declares that the Credit Card issued to him, if used overseas shall be utilised strictly in accordance with the relevant exchange control regulations, issued and as amended by RBI from time to time. In the event the Card Member exceeds his entitlements as per the exchange control guidelines of RBI, the Card Member shall bring the same immediately to the notice of ICICI Bank in writing. If the passport is required to be endorsed for any such charges incurred as stipulated by RBI, the onus of getting the passport endorsed shall lie entirely on the Card Member. In the event of any failure to comply with the prevailing exchange control guidelines issued by RBI by the Card Member, he shall be liable for any action under the Foreign Exchange Management Act, 1999 as amended from time to time, and be debarred from the Card facility either at ICICI Bank's instance or by RBI. ICICI Bank shall be under no liability in respect of any loss or damage arising directly or indirectly out of decline of a charge because of exceeding foreign exchange entitlements as prescribed by RBI guidelines issued from time to time, on ICICI Bank becoming aware of the Card Member exceeding his entitlements. All charges in foreign currency will be billed in the Card Member's Statement in Indian rupees. ICICI Bank shall be entitled to convert charges incurred in foreign currency to the Indian rupee equivalent thereof at such rate as ICICI Bank may from time to time deem to be the existing rate.

XXIV. ICICI BANK CREDIT CARD REWARDS

Definitions:

” Scheme ” shall mean the reward scheme of ICICI Bank.

“ Credit Card reward points ” shall mean points awarded under the Scheme.

“ Delinquent Account ” shall mean an account in which payment has not been made as specified in the Payment Clause.

“ Effective Date ” shall mean the date from which the Scheme commences, which shall be communicated by ICICI Bank from time to time.

“ Scheme Termination Date ” shall mean the date on which the Scheme ends, which shall be communicated by ICICI Bank.

“ Valid Charge ” means a charge incurred by the Card Member for purchases of goods or services on the Card and any other charge as may be included by ICICI Bank from time to time for the purpose of this Scheme.

The Scheme shall come in force from the Effective Date and will be available only to Card Members holding the Card on and after the Effective Date. The Scheme shall not be applicable for Card Members with Delinquent Accounts as on the Effective Date of the Scheme or subsequently for any Card Accounts that become delinquent during the tenure of the Scheme.

Under the Scheme ICICI Bank shall award reward points for valid charges incurred by the Card Member on the Card. ICICI Bank shall also at its sole discretion award additional reward points to the Card Member. The Credit Card reward points, as earned by the Card Member, shall be indicated in the monthly statement sent to the Card Member. The Card Member can redeem his accumulated reward points against redemption offers made by ICICI Bank from time to time. On redemption, the Credit Card reward points so redeemed will automatically stand reduced from the accumulated Credit Card reward points in the Card Account. If anytime before the Scheme Termination Date the use of the Card is withdrawn, or cancelled, or is liable to be cancelled, or the Card Account is termed as a Delinquent Account, all Credit Card rewards points then standing to the credit of the Card Member shall ipso facto stand immediately and automatically cancelled. These cancelled Credit Card reward points shall not be credited to the Card Account even if the membership is reinstated. At the end of the Scheme Termination Date, the Credit Card reward points standing to the credit of the Card Member which have not been redeemed within the stipulated time as defined by ICICI Bank from time to time shall lapse automatically. Computation of Credit Card reward points shall be final, conclusive and binding on the Card Member and will not be liable to be disputed or questioned. Any tax or other liabilities or charges payable to the government or any other authority or body or any participating Merchant Establishment which may arise or accrue to the Card Member by redemption as aforesaid or otherwise as a result of the Scheme, shall be to the sole account of the Card Member. Nothing contained in the Scheme shall be construed as a binding obligation on ICICI Bank or any participating Merchant Establishment to continue the Scheme after the Scheme Termination Date or to substitute the Scheme by similar or a new Scheme.

Participation in the Scheme is voluntary and all charges are deemed to be voluntarily incurred by a Card Member in normal course of Card usage. The Card Member will not hold ICICI Bank responsible for any actions, claims, demands, liabilities, losses, damages, costs, charges or expenses which a Card Member incurs in normal course of Card usage. The Terms of the Scheme shall be in addition to and not in derogation of these Terms and Conditions. In addition to the terms and conditions, the terms and conditions mentioned in the rewards’ booklet will also apply. A copy of the rewards’ booklet and additional terms and conditions will be available on request. ICICI Bank expressly reserves the right, at any time and without prior notice to the Card Member, to add to and /or alter, modify, change or vary all or in part, the Scheme, or withdraw it altogether. All disputes, if any, arising out of or in connection with, or as a result of the Scheme or otherwise relating hereto, shall be subject to the exclusive jurisdiction of the competent courts/tribunals in Mumbai only.

XXV. DISCLOSURES

The Card Member undertakes and authorises ICICI Bank, its Group Companies to exchange, share or part with all the information, data or documents relating to his/her application to other ICICI Group Companies / banks / financial institutions / credit bureaus / agencies / regulatory authorities / statutory bodies /tax authorities /Central Information Bureaus/ such other persons as ICICI Bank / its Group Companies may deem necessary or appropriate as may be required for use or processing of the said information / data by such person/s or furnishing of the processed information / data / products thereof to other banks / financial institutions / credit providers / users registered with such persons and shall not hold ICICI Bank / its Group Companies liable for use of this information.

In case the Card Member commits a default in payment or repayment of principal amount of any financial assistance/facilities/ financial/credit facility or interest/charges due thereon, ICICI Bank and / or the RBI will have an unqualified right to disclose or publish the details of the default and the name of the Card Member/ or its directors/partners/ supplementary Cardholders, as applicable, as defaulters in such manner and through such medium as ICICI Bank or RBI in their absolute discretion may think fit. ICICI Bank shall disclose information relating to credit history/repayment record and/or days past due status of the Card Member in terms of the Credit Information Companies (Regulation) Act, 2005 to a credit information bureau (specifically authorized by RBI) through Statements.

Acceptance of an application for a Credit Card is based on no adverse reports of the Card Member's credit worthiness. ICICI Bank may report to other banks or financial entities any delinquencies in the Card Account or withdrawal of the Card Member's credit facility through the Card or otherwise. Based on the receipt of adverse reports (relating to credit worthiness of the Card Member or his / her family members), ICICI Bank may, after 15 days prior notice in writing, cancel the Credit Card, whereupon the entire outstanding balance in the Card Account as well as any further charges incurred by use of the Card, though not yet billed to the Card Account, shall be immediately payable by the Card Member. ICICI Bank shall not be obliged to disclose to the Card Member the name of the bank or financial entity, from where it received or to which it disclosed information.

XXVI. DEBT ASSIGNMENT

ICICI Bank shall have the right to transfer, assign and sell in any manner, in whole or in part, the Credit Card outstandings and dues to any third party of its choice without reference or intimation to the Card Member. Notwithstanding any such sale, assignment or transfer, ICICI Bank shall be fully empowered to proceed against the Card Member. The Card Member shall be liable for all costs and expenses on account of any such assignment, sale or transfer and recovery of outstandings and dues.

XXVII. MISCELLANEOUS




ICICI Bank reserves the right to offer to the Card Members, whose accounts have been maintained in good standing as per the credit norms of ICICI Bank, certain facilities, memberships and services at such fees and on such terms and conditions as it may deem fit. ICICI Bank reserves the right to waive or reduce the fees and to withdraw such benefit at any time without prior notice and without liability to the Card Member. Any termination of membership, because of a violation of these Terms and Conditions, shall result automatically in the termination of such facilities and services. ICICI Bank shall not be liable, in any way, to the Card Member, in case of defect or breach in the performance of carrying out such facilities, memberships or services or the non-performance thereof, whether by ICICI Bank, or a Merchant Establishment or any other third party.

ICICI Bank reserves the right to use the information provided by the Card Member on his application and during surveys, information from external sources, including consumer reports, for marketing activities carried out by ICICI Bank / Affiliates. ICICI Bank may use this information to develop mailing lists that may be used by companies with whom ICICI Bank shall work to develop marketing offers for the Card Members.

ICICI Bank reserves the right to revise the policies, features and benefits offered on the Card from time to time and may notify the Card Member of any such revisions/changes in any manner as deemed appropriate. The Card Member will be bound by such revisions/changes unless the Card is returned to ICICI Bank for cancellation before the date on which the revisions/changes are made.

The details of all transactions recorded in the Card Account of the Card Member may be shared with Credit Reference Agencies, lenders and/or other agencies for the purposes of assessing further applications for credit by the Card Member and/or his family members, and for fraud prevention. In addition to the general right to set off or other right conferred by law or under any other agreement, ICICI Bank may, without notice, combine or consolidate the standing balance on the Card Account with any other account(s) which the Card Member maintains with ICICI Bank and its Group Companies, and set-off or transfer money standing to the credit of such other account(s) in or towards the satisfaction of the Card Member's liability to ICICI Bank under his Card Account.

The Card Member shall forthwith notify ICICI Bank of any change in his name, address, contact number and e-mail id for communication as stated in the application form for the Card. ICICI Bank reserves the right to change the Card Member's address in its records if such change in address comes to the notice of ICICI Bank. The responsibility shall be solely of the Card Member to ensure that ICICI Bank has been informed of the correct address for communication, and ICICI Bank disclaims all liability in case of an incorrect address resulting in any loss or liability for the Card Member.

The Card Member shall comply with all such terms and conditions as ICICI Bank or its Affiliates may prescribe from time to time for facilities/ services availed of by the Card Member. All such transactions effected by or through facilities for conducting remote transactions including the Internet, World Wide Web, electronic data interchange, call centres, teleservice operations (whether voice, video, data or combination thereof) or by means of electronic, computer, automated machines network or through other means of telecommunication, established by or on behalf of ICICI Bank or its Affiliates, for and in respect of such facilities/ services offered, shall constitute legally binding and valid transactions when done in adherence to and in compliance with the terms and conditions prescribed by ICICI Bank or its Affiliates for such facilities/ services, as may be prescribed from time to time.

XXVIII. SET-OFF

(i) ICICI Bank and its group companies shall have the paramount right of set-off and lien, irrespective of any other lien or charge, present as well as future on the deposits of any kind and nature (including fixed deposits) held/ balances lying in any other account(s) of the Card Member maintained with ICICI Bank and / or its group companies, whether in single name or joint name(s) and on any monies, securities, bonds and all other assets, documents and properties held by/ under the control of ICICI Bank and/or its group companies (whether by way of security or otherwise pursuant to any contract entered/ to be entered into by the Card Member in any capacity) towards the satisfaction of the Card Member’s liability under his Card Account. ICICI Bank and/ or its group companies are entitled without any notice to the Card Member, to settle any indebtedness whatsoever owed by the Card Member to ICICI Bank and/or its group companies, (whether actual or contingent, or whether primary or collateral, or whether joint and/or several) hereunder or under any other document/ agreement, by adjusting, setting-off any deposit(s) and/or transferring monies lying to the balance of any account(s) held by the Card Member with ICICI Bank and/or its group companies notwithstanding that the deposit(s)/ balances lying in such account(s) may not be expressed in the same currency as such indebtedness. ICICI Bank's and its group companies’ rights hereunder shall not be affected by the Card Member’s bankruptcy, death or winding-up. It shall be the Card Member’s sole responsibility and liability to settle all disputes/ objections with any such joint account holders.

(ii) In addition to the above mentioned right or any other right which ICICI Bank and its group companies may at any time be entitled whether by operation of law, contract or otherwise, ICICI Bank is authorized / will be entitled: (a) to combine or consolidate at any time all or any of the accounts and liabilities of the Card Member with or to any branch of ICICI Bank and/or its group companies; (b) to sell or otherwise dispose off any of the Card Members’ securities or properties held by ICICI Bank by way of public or private sale or otherwise without having to institute any judicial proceeding whatsoever and retain/appropriate from the proceeds derived there from the total amounts outstanding to ICICI Bank and/or it group companies from the Card Member, including costs and expenses in connection with such sale or disposal; and (c) in case of cross currency set-off, to convert an obligation in one currency to another currency at a rate determined at the sole discretion of ICICI Bank and/or its group companies.

XXIX. iASSURE SERVICE

“iAssure service” is the subscription based service wherein a payment holiday is offered by ICICI Bank to select Card Members, providing them the option of an extended interest free credit period of an additional 75 (seventy five) days from the Payment Due Date, to make payment of the amount billed to the Card in certain predefined eventualities, as may be communicated to the Card Member by ICICI Bank.

“iAssure Subscription-kit” means the communication sent to the Card Member providing all the relevant details of iAssure service once the Card Member has enrolled for iAssure service.

ICICI Bank reserves the right to offer Card Members, whose accounts have been maintained in good standing as per the credit norms of ICICI Bank, certain facilities, at its sole discretion, in times of financial difficulties, upon the occurrence of certain events as may be specified in the iAssure subscription-kit.

ICICI Bank shall inform the Card Members who are being offered the iAssure service through a communication sent to the Card Member at the billing address or by calling the Card Member at the registered phone number or in any other manner as ICICI Bank may deem fit. Upon communication being made of the same, in order to avail of the iAssure service, the Card Member shall be required to enroll for iAssure service by registering with ICICI Bank in such manner as may be communicated to the Card Member. On enrollment an iAssure subscription-kit shall be dispatched to the Card Member’s billing address. In case the Card Member does not receive the iAssure subscription-kit within 20 (twenty) days from the date of enrollment, the Card Member shall be required to inform ICICI Bank 24-Hour Customer Care Centre, failing which the subscription to iAssure service will stand terminated.

To activate the payment holiday under iAssure service the Card Member must inform ICICI Bank 24-Hour Customer Care Centre within 30 days of the occurrence of any of the specified events provided the Card Account has not become a Delinquent Account and no other event of default has taken place, at the time of requesting for such activation. The Card Member shall be entitled to avail of the payment holiday under iAssure only after completion of three consecutive months of fully paid subscription and upon the occurrence of any of the specified events, being such amount and such events as may be communicated to the Card Member in the iAssure subscription-kit. Such period shall be six months in case of new Card Members. The iAssure service may be availed only in relation to any one of the specified events at a time.

The Card Member shall be eligible to avail of the iAssure service only upto a maximum of Rs. 50,000 of the Total Amount Due as on the date of the occurrence of the specified event for which the Card Member is activating the payment holiday under iAssure service. However, any additional spends made by the Card Member during the period between the event date and the iAssure service activation request date (both days inclusive) shall become payable immediately before the payment holiday under iAssure service gets activated.

Post enrollment, the Card Member will be billed on a monthly basis for the fees towards iAssure service which will be communicated in the Statement. The Card Member may opt for de-subscription by calling up the ICICI Bank 24-Hour Customer Care Centre at any time during the period of subscription. However, such de-subscription and discontinuation of fees shall be effective on Statements generated on the 15th day of the current or subsequent month, whichever is earlier. The documentation that the Card Member shall be required to submit for activation of the iAssure service shall also be communicated in the iAssure subscription -kit. Upon activation of the iAssure service, the use of the Card / Card Account shall be restricted till such time as repayment of the amount due for which iAssure service had been extended, is made.

Upon expiry of the term of the extension of the iAssure service, the Card Member shall be immediately required to make payment of the entire amount due. In the event the Card Member fails to do so, interest will be charged on the outstanding amount for the entire period of such iAssure service.

ICICI Bank may, at its own discretion, decide on resetting the fees to continue subscription, or may decide not to offer iAssure service to the Card Member subsequently and communicate the same to the Card Member at the billing address recorded in ICICI Bank’s records.

XXX. SETTLEMENT OF DISPUTES

All disputes are subject to the exclusive jurisdiction of the competent Courts in Mumbai only.

XXXI. CHANGING THESE TERMS AND CONDITIONS

ICICI Bank shall have the absolute discretion to amend or supplement any of the Terms and Conditions, features and benefits offered on the Card including, without limitation to, changes which affect existing balances, interest charges or rates and methods of calculation at any time . The Card Member shall be liable for all charges incurred and all other obligations under these revised Terms and Conditions until all the amounts under the Card are repaid in full. ICICI Bank may communicate the amended Terms by hosting the same on the Infinity or in any other manner as decided by ICICI Bank. The Card Member shall be responsible for regularly reviewing these Terms and Conditions including amendments thereto as may be posted on the Infinity and shall be deemed to have accepted the amended Terms and Conditions by continuing to use the Card. Any change in the Terms and Conditions (other than interest charges and rates) shall be communicated to the Card Member, in the manner as aforesaid, one month prior to the date of their implementation.

XXXII. NOTICES

All notices or other communications under or in connection with these Terms and Conditions including all amounts due from the Card Member shall be given in writing and, unless otherwise stated may be made by letter or facsimile. Any such notice or other communication will be deemed to be effective: (i) if sent by letter, when delivered personally or if dispatched by post, when recall of the letter is outside the control of the sender; and (ii) if sent by facsimile, when sent (on receipt of a confirmation to the correct facsimile number). Provided, however, that no notice or communication to ICICI Bank shall be effective unless actually received and acknowledged by ICICI Bank. Notices or communication may be made to: (i) the Card Member’s address or facsimile number as recorded in ICICI Bank’s records and to which notices / communications are to be sent (as specified in the Application Form), and (ii) ICICI Bank’s zonal / regional / branch /office address or facsimile number (as specified in the Application Form), or to such other address or facsimile number as may be designated by the Card Member and ICICI Bank in writing to each other. In the event of any failure by the Card Member to notify ICICI Bank in writing of any changes in its contact address or details, service of a notice/ correspondence to the address specified in the Application Form or last given by the Card Member shall be deemed to be proper and sufficient service on the Card Member irrespective of whether or not such notice shall be returned “unserved” to ICICI Bank. A notice published in the newspaper available in the area of residence or work of the Card Member shall be sufficient notice to the Card Member from the date of its publications; provided however, a notice in a newspaper shall not be effective against ICICI Bank unless acknowledged by ICICI Bank.

XXXIII. GLOBAL INDIAN CREDIT CARD TERMS

These terms (“Terms”) are applicable only to Card Member using Global Indian Credit Card. These terms and conditions are in addition to the other Terms and Conditions for usage of Credit Cards (“Terms and Conditions”). Wherever there is a conflict between these Terms and the Terms and Conditions, these Terms shall prevail.

Cash withdrawal shall not be permitted on the Global Indian Credit Card. No Cash Limit shall be provided on the Global Indian Credit Card.

The Card Member shall pay ICICI Bank the Total Amount Due on the Payment Due Date. No facility of payment of MAD shall be applicable to the Global Indian Credit Card. The payment for the Global Indian Credit Card shall be made by the ECS method only.

XXXIV. EMI CREDIT CARD TERMS




 

These terms (“Terms”) are applicable only to Card Member using an EMI Card. These terms and conditions are in addition to the other Terms and Conditions for usage of Credit Cards (“Terms and Conditions”). Wherever there is a conflict between these Terms and the Terms and Conditions, these Terms shall prevail.

1. In case of EMI Card, t he EMI Cardholder shall make payment of all outstanding amount under the Card in Equated Monthly Installments (EMI) as will be indicated in the Statement. Such EMI Amount Due (EAD) will be based on the Purchase-Limit assigned by ICICI Bank to the Card Member and as indicated by ICICI Bank to the Card Member, interalia, in the Statement. The EAD shall comprise of the Purchase amount, transaction fee and the interest. Interest shall be leviable on the Transaction amount from the day of the Transaction.

Further, if such EAD is not paid by the Payment Due Date as indicated in the Statement, service charge and late payment charge shall be levied upon the Card Member. If any amount of the EAD remains unpaid for the previous statements, these shall also be added to the EAD for the current statement. However, if payment is in excess of the EAD, then certain charges shall be levied on the Card Holder as laid down in the Tariff Annexure. Such excess payment, shall be adjusted in the EAD for the following month and shall be reflected in the Statement. Further, where the amount payable by the Card Member is less than the EAD at the end of any particular month, the Card Holder shall be liable to pay only such amount as is payable.

2. The calculation of fee and charges is as illustrated below. For eg. A Cardholder has an EMI Card with EAD of Rs 2000/- per month with purchase limit of Rs 48000 and interest (monthly) of 1.49%. The Statement date is 20th of every month and due date is 7th of every month.

The Cardholder has made total purchases of Rs 10000/- on 5th of Jan’06. A transaction fee of Rs 149/- will be levied on this transaction. On 20th of Jan’06 the Statement will be generated and the closing balance amount is Rs 10224.61/-. This will include interest of Rs 75.61/- on your purchases from 5th of Jan’06 to 20th of Jan’06. The Cardholder will be required to make a payment of EAD of Rs 2000 on 7th of Feb’06. On 10th of Feb’06 the Cardholder makes a purchase of Rs 6000/- A transaction fee of Rs 149/- will be levied on this transaction. On 7th of Feb’06 the Cardholder makes a payment of Rs 2000. Interest will be charged on the amount 10224.61 from 20th Jan’06 to 7th Feb’06 and on amt 8224.61 from 7th Feb’06 to 20th Feb’06. Interest will also be charged on purchase of Rs 6000/- from 10th Feb’06 to 20th Feb ’06.A total of 169.97/- interest amount will reflect in the statement generated on 20th Feb’06 with closing balance amount of Rs 14543.58 on 20th Feb’06. The Cardholder shall be required to make a payment of EAD of Rs 2000 on 7th of Mar’06.

Incase of any delay in payment late payment charges will be levied. Incase of any excess payment above the EAD, certain charges will be levied. Please refer to Tariff Annexure for details of the charges. Any incremental purchases made by the Card Member shall not result in an increase in the EAD, but shall result in a proportionate increase in the closing balance amount and tenure of repayment. The same is illustrated in the tabular format below.

EMI CARD - Product Details	EAD	2000
	Purchase Limit	48000
	Interest	1.49%
	Statement Date	20th of every Month
	Due Date	7th of every month
Month 1		Month 2
Opening Balance Amt	0	Opening Balance Amt	10224.61
Transaction Amt(5th Jan'06)	10000	Transaction Amt(10th Feb'06)	6000
Transaction Fee(5th Jan'06)	149	Transaction Fee(10th Feb'06)	149
Interest	75.61	Interest	169.97
Closing Balance Amt	10224.61	Closing Balance Amt	14543.58
EMI Amount due	2000	EMI Amount due	2000
EMI Amount Paid	2000	EMI Amount Paid	2000

 

ICICI Bank will assign a Purchase-Limit to a Card Account, which must not be exceeded at any time. However, if the total outstanding amount exceeds the Purchase-Limit, an additional charge will be levied on the excess amount. For details on charges refer to Tariff Annexure.

No facility of payment of MAD shall be applicable to EMI Cards.

3. The facility of Supplementary Cards and Merchant Based Establishment Installment Program shall not be applicable to EMI Cards.

XXXV. CORPORATE CREDIT CARD TERMS

These terms (“ Terms ”) are applicable only to Card Member using a Corporate Credit Card. These terms and conditions are in addition to the other Terms and Conditions for usage of Credit Cards (“Terms and Conditions”). Wherever there is a conflict between these Terms and the Terms and Conditions, these Terms shall prevail.

A Corporate Credit Card may be a Card with individual liability of the Card Member (“CCIL”) or with the joint liability of both the Card Member as well as the Company (“CCCL”).

ICICI Bank will issue Cards to Card Member(s) whose applications it approves. Unless otherwise agreed, each Card will be embossed with the name of both the Card Member and the Company. ICICI Bank shall issue renewal or replacement Cards in accordance with its usual practice until cancellation occurs as per the cancellation Clause mentioned below.

“ Services ” means Visa Information Management Services, which shall include data services and copyrighted on-line work known as Visa Information Source (“VIS”), Visa Multinational Reporting (“VMR”), Visa Travel Account Manager (“VTAM”) and Enhanced Data Services (“EDS”), and all updates and upgrades thereto, including any accompanying documentation, files, data and materials.

Visa Information Management Services (“Services”)

In the event the Services have been availed by the Company and the Card Member, to the Company and the Card Member shall use the Services subject to such terms and conditions as may be intimated by ICICI Bank, from time to time. The Company shall ensure that the Card Member(s) accessing the Services have received notice, in accordance with all applicable laws, that certain data concerning them, including enhanced data, is being accessed by the Company. The Company and the Card Member shall be solely responsible for any data downloaded for the dissemination of reports, file extracts, and any other data downloaded for any purpose from the Services.

The Company and the Card Member hold ICICI Bank harmless against all Claims and Liabilities arising from the use of the Services. For the purpose of this clause, Claim shall include personal injury, property losses, damages (including lost profits or savings, indirect, consequential, special, exemplary, punitive, or incidental) losses, penalties, fines, suits, expenses, and costs (including attorney's fees) (the “ Claim ”). Liability shall mean any liability under any theory or form of action whatsoever, in law or in equity, including, without limitation, contract or tort, including negligence, even if the responsible party has been notified of the possibility of such damages and also includes liability for infringement of others' intellectual property rights or any liability for Claims of third parties (the “ Liability ”). The use of such Services by the Company and the Card Member, shall at all times be subject to the Visa International Operating Regulations, as may be amended from time to time.

Each Card Member and the Company are jointly and severally liable for all charges to the Card Account as a result of use of the Card issued to the Card Member where the Card Member and the Company are jointly liable.

ICICI Bank will send to the Company, a Statement of all charges made by the use of the Card(s) to the Card Account. However, if the Company has so directed, ICICI Bank will send a Statement to each Card Member. All such Statements must be settled in accordance with the conditions applicable to the Card Member.

Company's liability for all charges to the Card Account shall be in no way be affected by the dispatch of the Statement to the Card Member whether in accordance with its directions or not. The Company agrees to notify ICICI Bank immediately of any change in its billing address, contact number and e-mail id for communication.

Cancellation or suspension of Card

ICICI Bank may revoke the Card Account or any Card(s) at its absolute discretion, with or without cause and without liability on its part whatsoever. If ICICI Bank revokes the Card of any Card Member or cancels the same at the request of the Company, ICICI Bank will notify the Company thereof and the Company will use their best efforts to promptly notify the Card Member of the revocation/ cancellation and to obtain each of the revoked/ cancelled Card, each cut in four pieces ensuring that the hologram and magnetic strip are destroyed, to surrender ICICI Bank. The Company and / or the Card Member may request ICICI Bank to cancel the Card issued to any Card Member at any time with or without cause and with 45 (forty five) days prior written notice. The Company shall remain liable for all the charges incurred on the Card after the Card is revoked/ cancelled and till the Card is returned to ICICI Bank in the manner stated herein. The Company will indemnify ICICI Bank and hold ICICI Bank harmless for any / all losses, for cancellation (wrongful or otherwise) of a Card. No notification of employment termination of instruction to cancel a Card by the Company shall be valid unless given in writing against acknowledgement.

Access to information

The Company shall provide ICICI Bank, with any information reasonably requested by ICICI Bank, concerning the address, whereabouts or employment information of any Card Member, or the use of the Card by such Card Member, and the Company shall further supply ICICI Bank, upon request being made, copies of any available documentation or support relating to such use. The Company shall also cooperate with ICICI Bank in any investigation, disputes, litigation, or prosecution arising in connection with the use of a Card.

Termination

Both ICICI Bank and the Company may terminate this arrangement at any time by providing 45 days prior written notice to the other party. Termination of the arrangement will constitute cancellation of all the Cards on the Card Account. Notwithstanding cancellation of the Cards, the Company shall continue to remain liable for all the charges incurred before and subsequent to the cancellation of the arrangement and / or Card Account, till the cancelled Cards issued in the Card Account are returned to ICICI Bank as stated herein above.

The facility of Supplementary Cards, Balance Transfer Facility, iAssure Service and Merchant Based Establishment Installment Program shall not be applicable to Corporate Credit Cards.

ICICI Bank Limited
Registered Office:
Landmark,
Race Course Circle,
Vadodara - 390 007.

Corporate Office:
ICICI Bank Towers,
Bandra Kurla Complex,
Bandra (East),
Mumbai - 400 051.