Terms and Conditions Governing the Issuance and Use of
Asian Spirit - EastWest Bank MasterCard

1. DEFINITION OF TERMS
   As used herein, the following terms shall have the following meanings:
   "CARD" - Credit Cards issued by EastWest Bank
   "CARDHOLDER" - The person to whom a Card has been issued or who use a Card issued by the Issuer; the term shall likewise include the person to whom a Supplementary card is issued upon the application of the primary Cardholder.
   "ISSUER" or EastWest Bank – The EastWest Banking Corporation, the institution that issued the Card.
   "CREDIT LIMIT" - The maximum credit that can be collectively charged by a principal and/or supplementary cardholder on the credit card account.
   "CASH ADVANCE" - Cash amounts within the allowable and available cash advance credit limit of the Card obtained through the Issuer's authorized ATMs or ATM networks, over-the-counter in its branches or with other banks that are authorized to process credit card cash advance transactions.
   "TOTAL AMOUNT DUE" – The total debit balance outstanding due on the Card, payable to EastWest Bank according to the Issuer’s records on the date the statement of account is issued. If the "TOTAL AMOUNT DUE" is a credit amount, it then forms part of the available credit limit at the time of issuance of the statement of account.
   "FINANCE CHARGE" - An amount representing a percentage based on the previous total outstanding balance of the Card plus new purchases if an amount below the TOTAL AMOUNT DUE or any amount between the TOTAL AMOUNT DUE, and MINIMUM DUE was paid for the previous billing.
   "LATE PAYMENT CHARGES" - Charges imposed on the Card each time that payment is made by the cardholder past the DUE DATE indicated in the monthly statement of account. Check payments that have been received on the DUE DATE shall be subject to Late Charges.
   "MINIMUM AMOUNT DUE" - The minimum amount payable to the Card account representing a percentage of the total current outstanding balance as of the date due on the statement of account.
   "PAYMENT DUE DATE" - The date specified in the monthly statement of account by which date, payment of the total balance, the minimum amount due or any amount in between the minimum amount due and total balance must be made to East West Bank. If Payment Due Date falls on a Saturday, Sunday or Holiday, the business day before the Payment Due Date indicated on the Statement of Account automatically becomes the Payment Due Date.
   
   
2. THE CARD
   The Card issued is the sole property of EastWest Bank. It is non-transferable and will be accepted at accredited merchants only when properly signed and presented by the Cardholder whose name and signature are indicated on the Card. The privileges of the Card may be revoked, terminated, withheld or suspended by the Issuer at any time and for whatever reason or cause without need of prior notice to the Cardholder. The Cardholder agrees to hold the Issuer free and harmless from any claim for damages arising from such termination, withholding or suspension.
   
   
3. CARD VALIDITY, EXPIRY, RENEWAL AND CANCELLATION
   Unless earlier terminated or cancelled, the Card shall be acceptable at affiliated establishments worldwide between the Valid Dates appearing on the face of the Card. The Card shall be automatically renewed before the Expiry Date. If the card is cancelled either voluntarily or involuntarily, the total outstanding balance on Card account shall be immediately due and demandable.
   
   
4. RESPONSIBILITY OF THE CARDHOLDER
   The Cardholder shall be liable for all purchases and cash advances made through the use of the Card, including interests, fees, and other charges as provided herein, and hereby agrees to accept and pay for outstanding balances or amounts in the account without the necessity of proof of a signed charge slip. The Cardholder shall be assigned a Personal Identification Number (PIN) by the Issuer for purposes of obtaining cash advances. The Cardholder shall, at all times, keep the PIN confidential and under any circumstance, shall not disclose the PIN to any person or compromise its confidentiality. The Cardholder agrees that all cash advance transactions on the Card shall be conclusively presumed to have been personally made by or authorized by the Cardholder.
   
   The Issuer may change the credit card number and/or expiry date when issuing a renewal or replacement card to the Cardholder. The Cardholder is solely responsible for communicating this change to any party with whom the Cardholder may have payment arrangements. The Issuer will not be responsible for any consequences arising from declined transactions, whether submitted under the old card number or otherwise.
   
   The Cardholder shall not use the Card after its expiry date, cancellation or suspension date nor permit anyone to use the Card for any reason whatsoever.
   
   
5. MEMBERSHIP FEE
   The Cardholder shall pay the Issuer a membership fee as may be fixed by the Issuer. This may be paid on installment basis under payment terms as may be defined by the Issuer and chosen by the Cardholder. All paid membership fees are non-refundable even if the credit privileges are suspended or terminated, or if the Card is surrendered by the Cardholder before the expiry date. All remaining unpaid membership fees become due and demandable in case the card is cancelled or terminated or if the account becomes 90 days past due.
   
   
6. OTHER FEES
   The Cardholder shall pay the Issuer such other fees relating but not limited to the processing of cash payments that may be imposed by the issuer at its option. The amount of said fees may be revised from time to time as the Issuer deems necessary as indicated in any correspondence or communication.
   
   
7. SUPPLEMENTARY CARDS
   The Cardholder may apply for Supplementary Card(s) by submitting a Supplementary Card application signed by the Primary Cardholder and the assigned Supplementary Cardholder(s). The issuance of the Supplementary Card(s) will be subject to the evaluation and approval of the Issuer. The use of the Supplementary Card(s) shall be governed by this Agreement. Any reference to the Card issued to the Cardholder shall also apply to the Supplementary Card(s). The Primary and Supplementary Cardholders shall be jointly and severally liable for all purchases and cash advances obtained, including all charges incurred through the use of the Supplementary Card(s) regardless of whether the Supplementary Card(s) were used with or without the consent of the Primary Cardholder. In case of disputes, legal or otherwise, between the Primary and Supplementary cardholder(s), the Primary Cardholder will be liable for any outstanding balance incurred by the Supplementary Cardholder(s). The Primary Cardholder may request for termination or cancellation of the Supplementary Card(s) in writing, subject to the payment and full settlement with the Issuer of the outstanding balance incurred by the Supplementary Card(s). In the event of the death of the Primary Cardholder, the Supplementary Cardholder shall be liable for the total outstanding balance of the Card account.
   
   
8. ACCREDITED MERCHANTS
   The Issuer has an Agreement with MasterCard whereby the Card shall be honored at all MasterCard accredited merchants worldwide at all times. However, the Issuer shall not be liable to the Cardholder, if for any reason, the Merchant, the acquiring bank, or MasterCard does not honor the Card. The Cardholder agrees to hold Issuer free and harmless from any and all claims for damages resulting from acceptance or non-acceptance by an accredited MasterCard merchant or acquiring bank.
   
   
9. CO-OBLIGOR
   The Cardholder shall provide upon request an acceptable Co-Obligor. The Co-Obligor shall be jointly and severally liable with the Cardholder and his/her Supplementary Cardholders to pay the Issuer all obligations and charges made through the use of the Card.
   
   The Co-Obligor shall notify the Cardholder and Issuer in writing of its intention to withdraw as the Cardholder's Co-Obligor and may be discharged subject to the condition that the Co-Obligor continues to be liable for all amounts unpaid and outstanding as of thirty (30) days from receipt by Issuer of such written notice. Failure by the Cardholder to immediately furnish a new Co-Obligor acceptable to Issuer may result in an automatic termination or suspension of Cardholder's privileges.
   
   
10. LOST OR STOLEN CARD
    In case of loss or theft, the Cardholder shall immediately report the incident to the Issuer giving details of the place, date and circumstances of the incident and the last purchase(s) made prior to the lost or theft. The Cardholder shall not be liable for purchases or cash advances obtained with the Card after the loss of the Card has been reported to the Issuer's Call Center or Authorization Center. -All unauthorized transactions made before reporting the loss of the Card shall be the Cardholder’s liability. A reasonable fee shall be charged to the Cardholder to cover the replacement of the Card(s) and the costs in disseminating information of the loss or theft.
    
    
11. USE OF THE CREDIT LIMIT
    Upon approval of the Cardholder's application, a Credit Limit expressed in local currency (Philippine pesos), inclusive of the cash advance limit, shall be assigned to the Cardholder account that represents the maximum amount of credit that the Cardholder and Supplementary Cardholder(s) are allowed to use or avail of at any given time. The Issuer reserves the right to decline any transaction and/or suspend the Card privileges of the Cardholder and Supplementary Cardholder(s) without prior notice if the account Credit Limit has been exceeded. The Issuer may demand immediate payment for the amount in excess of the Credit Limit or all outstanding amounts. The Cardholder agrees to monitor the account balance and not exceed the approved credit limit. The Cardholder also agrees to pay the corresponding over limit fee or penalty that may be imposed by the Issuer. In case the Issuer provides the Cardholder with two or more Cards, the Cardholder agrees to abide by the condition that the Issuer, at its sole prerogative, may give the Cardholder a separate credit limit for each of the Cards or provide a consolidated credit limit for all of the issued Cards expressed in Philippine Currency. In case of default or non-payment of the Cardholder's obligation in any of the Cards, the Issuer may at its sole discretion revoke the Cardholder's right to use any or all of the Cards and demand immediate payment of the outstanding balances of all the Cards.
    
    
12. CO-BRANDED CARD BENEFITS, AVAILMENTS AND LIABILITY
    The Co-branded benefits provided under this agreement or use of the Co-branded Card/s is non-transeferable and exclusive to the Co-branded Card Principal and Supplementary Cardholders. The Co-branded benefits provided under the Co-branded Card/s are subject to change without prior notice. It is also subject to the Co-branding agreement executed by the Issuer with its co-branding partner/s and/or third party providers.
    
    The Issuer will not be liable to the Cardholder and/or its Supplementary Cardholder/s for any claims or damages, if for any reason the benefits provided under the Co-branded Card/s is not available, cannot be availed, is not properly executed or is not honored, when redeemed or availed at the Co-branding partner’s office/s, its authorized offices/affiliates or any thrid party contracted/related in providing the said Co-branding benefits.
    
    The Co-branded benefits such as, but not limited to, fare discounts, can only be availed of at the co-branded pertner’s offices or affiliates and is subject to the prevailing implementing guidelines at time of availment.
    
    
13. LIMITATIONS AND COMPLIANCE
    The Card may not be used for the purchase of items or goods, the importation of which into the Philippines is subject to the provisions of Circular No. 1348 and all other circulars, laws, rules and regulations pertaining to importation. The Cardholder also agrees and warrants that the proceeds of any cash advance made through the use of the Card shall not be used for any foreign investments or the payment of foreign loans in violation of Central Bank Circular No. 1353. The Cardholder shall also comply with all the existing laws and regulations related to the use of credit cards, particularly but not limited to RA 8484 - the Access Devices Regulation Act of 1998, RA 9160 known as the Anti -Money Laundering Act and those that may be enacted, promulgated or implemented in the future. In addition, the Card cannot be used for any purchase, deed or action considered or construed to be an illegal activity under the existing laws, circulars, rules and regulations of the Republic of the Philippines and any of its department or agencies or of any foreign government where the Card will or might be used.
    
    
14. CARD DELIVERY
    The Cardholder authorizes the Issuer or the Issuer's official courier to deliver the Card to the Cardholder or in the absence of the Cardholder, to any member of the Cardholder's household, any authorized representative or third party allowed by the Issuer under its existing delivery policy upon the presentation of a valid identification card with picture or any other form or manner acceptable to the Issuer. Household members refer to any of the following aged 18 years old and above: the father, mother, parents-in-law, spouse, brother, sister, brother-in-law, sister-in-law, nephews/nieces, son or daughter and household help (except security guards, receptionist and drivers). The Cardholder agrees to hold the Issuer free and harmless from any liability whatsoever for the delivery of the Card to authorized representatives.
    
    
15. MONTHLY STATEMENT AND PAYMENT OF CHARGES
    A monthly statement of account shall be sent to the Cardholder by mail or courier to the Cardholder’s billing or contact addresses. The Cardholder must examine the statement and immediately report any error on the statement not later than 20 days from date of statement. Otherwise, it shall be deemed that the Cardholder has accepted the accuracy and completeness of the statement. The Cardholder agrees to pay the late payment charges and any other charges that may be imposed for any unpaid amount due at a rate specified by the Issuer. If Payment Due Date falls on a Saturday, Sunday or Holiday, the business day before the Payment Due Date indicated on the Statement of Account automatically becomes the Payment Due Date. In case the monthly statement of account is not received before the Payment Due Date, the Cardholder must inquire with the Issuer the outstanding or minimum amount due on the Card and shall pay any and all charges made through the Card on or before the due date. If the Card remains unpaid after the Payment Due Date, the Issuer at its discretion may demand immediate payment of the entire outstanding amount due or a portion thereof without further notice.
    
    
16. COMPUTATION OF FINANCE AND OTHER CHARGES At every billing cycle, the Cardholder shall be liable in paying the Total Amount Due under the following options on or before the Payment Due Dates: a.) to pay the Total Amount Due in full; b.) the Minimum Amount Due or; c.) an amount in between the Total Amount Due and Minimum Amount Due. If the Cardholder pays the Total Amount Due on or before payment due date, no finance charge shall be imposed. However, if the Cardholder will not pay the Total Amount Due, the Cardholder shall be deemed as availing against a credit line with the Issuer and agrees to pay corresponding finance and other charges. The finance charges based on the Issuer’s prevailing rates shall be imposed on the Cardholder's opening balance, and all new transactions posted within the statement period, accrued from the transactions' posting dates in case of retail purchases, until the end of the current statement period. The corresponding prevailing late penalty fees/charges shall also be imposed by the Issuer on payments made after the due date. In case of cash advance transactions, the finance charge shall be computed starting from date of availment only if the previous outstanding balance is not paid in full. No finance charge shall be computed on cash advance transactions if outstanding balances are paid in full. Any unpaid amount as of the Payment Due Date shall be deemed payable on the Payment Due Date unless the Cardholder opts to re-avail of the credit line for the next billing cycle by paying an amount in between the Total Amount Due and Minimum Amount Due.
    
    
17. DELINQUENT ACCOUNT
    In any instance that the Cardholder fails to pay at least the Minimum Amount Due on a given Payment Due Date, the account will be considered delinquent and late payment, finance and other charges shall be imposed as applicable which shall form part of the Total Outstanding Balance. The Issuer reserves the right to demand payment in full in case of default or if payment is less than the minimum amount due. The Cardholder authorizes the Issuer to report the Card to any credit bureau or institution if the Card account becomes delinquent.
    
    
18. EVENT OF DEFAULT
    In case of default in any of the Cardholder's obligation on one or more Cards or any of his credit obligations with the Bank, the Bank may, as its sole option or discretion and without need of further notice, cancel the Cardholder's credit cards and/or other credit facilities or, revoke the right of the Cardholder to use all or any Principal or Supplementary Card(s) or other credit facilities with the Bank.
    
    
19. TAX ON CREDIT CARD FEES AND CHARGES
    All tax liability, fees, charges or assessment, if any, imposed or that may be imposed by the law on the usage of the Card shall be for the account of the Cardholder. Such tax liability or assessment shall be billed accordingly.
    
    
20. SUSPENSION, CANCELLATION, WITHDRAWAL OR TERMINATION
    The Issuer may at its exclusive option and without prior notice to the Cardholder, suspend, cancel and withdraw or terminate any Card issued and/or its privileges at any time for whatever reason including but not limited to the Cardholder's default, non-payment, financial incapacity, misrepresentation and fraud. In such cases, the payment of the outstanding balance at time of Card suspension, cancellation, withdrawal or termination shall become due and demandable without need for further notice to the Cardholder. If the collection of any unpaid or past due amount is referred to a collection agency and/or enforced through court action, the Cardholder agrees to pay the costs of collection and/or a percentage (%) of attorney's fees based on unpaid balance (including all finance and penalty charges), in addition to whatever damages are incurred by the Issuer. The Cardholder agrees to hold the Issuer free and harmless from any claim for any damages arising from such Card suspension, cancellation, withdrawal or termination. The venue for any legal action, if any, shall be in the proper courts of Metro Manila or at the option of the Issuer.
    
    The Cardholder may at anytime, terminate the Agreement under this Terms and Condition by submitting a written notice to the Issuer subject to immediate payment and settlement of any and all obligations incurred in connection with the issuance of the Card/s. Should Cardholder choose to revolve the outstanding obligations, the corresponding membership fee charges shall apply and will be pro-rated until such time that the outstanding balance is paid in full. The Card will only be cancelled once the full Total Amount Due has been settled.
    
    
21. AUTO-DEBIT ARRANGEMENT
    The Cardholder may opt to enroll in the Automatic Debit Arrangement (ADA) facility giving the Issuer full authority to debit the Minimum or Total Amount Due on each monthly statement of account against a Current or Savings deposit account maintained with East West Bank and duly designated by the Cardholder in the ADA enrollment form.
    
    
22. RIGHT TO OFF SET
    As an inducement to Issuer's grant to Cardholder of the use of the Card, Cardholder hereby agrees to Issuer's application, effective upon Cardholder's failure to pay upon demand his/her obligations arising from Cardholder’s use of the Card(s), any or all monies, securities, and things of value which are now or may hereafter be in the hands of Issuer on deposit or otherwise to the credit of or belonging to the Cardholder, and Issuer is hereby authorized to sell at public or private sale such securities or things of value and to apply the proceeds thereof to the unpaid obligation. In the absence of securities or things of value or if the Cardholder's outstanding balance exceeds the proceeds of sale, Cardholder hereby agrees to assign to Issuer any deposit Cardholder may have with any bank or financial institution, to the extent of Cardholder's obligation to Issuer and for this purpose, Cardholder hereby consents to any inquiry by or disclosure to Issuer, its duly authorized representative or legal counsel as to any deposit Cardholder may have with any bank or financial institution.
    
    
23. CARDHOLDER INSTRUCTIONS
    The Issuer, upon receiving notice of instruction or authorization from the Cardholder shall comply upon proper identification of or verification with the cardholder. Such instructions shall pertain only to the cardholder’s individual account inclusive of Supplementary Card(s) details and information. Notices, instructions or authorizations may be in the form of letters, telephone calls, facsimile transmission or email. Notices shall be deemed received on a) the date of receipt, if personally delivered, or b) the date ten (10) days after posting, if transmitted by registered mail, or c) the date of transmission as evidenced by the fax transmission report, if sent by facsimile, d) the date the electronic message is received by the addressee’s system as evidenced by the auto return receipt if sent by email.
    
    The Cardholder shall hold and keep the Issuer free and harmless from any and all complaints, claims, suits or proceedings instituted by any person in connection with the instructions given to the Issuer which it receives in good faith.
    
    
24. CHANGE OF CONTACT, PERSONAL AND OTHER INFORMATION
    The Cardholder must immediately provide written notice to East West Bank of any change in contact, personal and other information. A notice shall be deemed received on a) the date of receipt, if personally delivered, or b) the date ten (10) days after posting, if transmitted by registered mail, or c) the date of transmission as evidenced by the fax transmission report, if sent by facsimile, d) the date the electronic message is received by the addressee's system as evidenced by the auto return receipt if sent by email.
    
    
25. DISCLOSURE OF INFORMATION
    Cardholder consents to the disclosure of the credit card account to any of the Issuer's subsidiaries or affiliates or third party, other credit card companies, financial institutions or credit information/investigation company and the Cardholder shall hold the bank free and harmless from any liability that may arise from such disclosure.
    
    
26. ASSIGNMENT AND WAIVER
    Cardholder agrees to the assignment or transfer of part or all of the Bank’s rights and/or obligations under the card without the need to notify Cardholder.
    
    
27. LIMITATION OF LIABILITY
    In the event of any action which the Cardholder may file against Issuer for any cause whatsoever, Cardholder agrees that Issuer's liability shall not exceed the amount of P1,000.00 or the damages actually provided to have been suffered by the Cardholder, whichever is lesser.
    
    
28. SEPARABILITY CLAUSE
    The enforceability and validity of this Agreement, in whole or in part, shall not be affected by the unenforceability or invalidity, whether temporary or permanent, of any particular provision of this Agreement because of restrictive laws, regulations, or judicial or administrative determinations obtained during any period of this Agreement or for any other cause.
    
    
29. NON-WAIVER OF RIGHTS
    No failure or delay on the part of the Issuer in exercising any right or power hereunder shall operate as a waiver thereof nor shall any partial or single of any such right or power preclude any other right or power there under. No waiver by the Issuer of any of its right or powers under this Agreement shall be deemed to have been made unless expressed in writing and signed by its duly authorized representative(s).
    
    
30. AMENDMENTS
    Issuer may, with or without prior notice, at any time and for whatever reason it may deem proper, amend, revise or modify the terms and conditions hereof, and any such amendment shall bind the Cardholder.
    
    
31. SUBMISSION OF ITR AND WAIVER OF CONFIDENTIALITY
    In compliance to the existing rules and regulations of Bangko Sentral ng Pilipinas, the Cardholder is required to provide a copy of the latest Income Tax Return (ITR) submitted to, filed by the Cardholder with and/or received by the Bureau of Internal Revenue (BIR) or its authorized representatives or any of its collecting agents/agencies to the Issuer before the Card is issued or upon renewal or extension thereof or upon the request of the Issuer during the effective date/validity of the Card. The Cardholder also authorizes the Issuer to secure copies of such ITR or form from the BIR or any trustworthy source and conduct random confirmation or validation thereof. In this regard, the Cardholder hereby waives the confidentiality of the said Cardholder’s information.
    
    
32. BINDING EFFECT
    The terms and conditions provided herein shall bind the parties, their heirs, executors and administrators, as well as their successors and assigns. The Cardholder confirms to have read and understood the Terms and Conditions herein by signing on the Card and transaction slips or usage of the Card for mail/telephone order and Internet transactions.