EASTWEST BUSINESS BANKING GENERAL TERMS AND CONDITIONS

The following terms and conditions (“Terms & Conditions”) shall be applicable to the enrollment in, use of, and availment by you of EastWest Bank’s online banking facility for business. By enrolling in and using our online banking facility, you hereby agree to be bound by these terms and conditions, which shall govern your relationship with us, as well as all transactions concluded by you or your authorized representative/s.

1. About this terms and conditions

1.1 As used in the succeeding paragraphs, “we”, “our”, “us”, the “Bank” and “EastWest Bank” refer to East West Banking Corporation. The terms “you” and “your” refer to every person including juridical entities and its authorized representative/s who has an account or opens an account with EastWest Bank.

2. Definitions

2.1. “Account/s” refers to all accounts accessible by you through the channels.

2.2. “Administrator” refer to the user’s role responsible for managing the process of user definition, modification and amendments, ensuring that the users have the appropriate permissions and responsibilities as required.

2.3. “Approver” refers to the user’s role that could approve transac- tion within the facility.

2.4. “Average Daily Balance” or “ADB” refers to the average daily balance of the nominated account.

2.5. “Business” refers to customers that were established either as a single proprietorship, partnership or corporation.

2.6. “Channel” refers to any mode of access to our electronic services.

2.7. “Credentials” refers to any information or identifiers used for authentication, verification or access control. This includes but is not limited to User IDs, card number, password, passcode, biometric iden- tifiers, Personal Identification Number (PIN), security codes, One-Time Password (OTP) and Corporation Code.

2.8. “CSF” refers to EastWest Business Banking Customer Set-up Form

2.9. “Dual Control” refers to a specific role assigned to a separate users as Maker and another user as Approver, wherein the Maker has the authority to initiate the transaction or request and the Approver to approve same.

2.10.“EastWest EasyBiz” refers to EWBC’s online banking facility for business accessible via https://business.eastwestbanker.com/ or https://www.eastwestcorporate.com.ph/ or via mobile application where business clients can access and transact using their accounts.

2.11. “Electronic Services” refers to any banking and other services or facilities which we may offer to you from time to time via electronic means.

2.12. “Facility” refers to the Bank’s online facility for business clients.

2.13. “Government Agencies” refers to the following Bureau of In- ternal Revenue (BIR), Social Security System (SSS), Philippine Health Insurance Corporation (PhilHealth) and Home Development Mutual Fund (“Pag-ibig”).

2.14. “Maker” refers to the user’s role that could initiate transaction within the facility.

2.15. “Single Control” refers to the procedure that needs only one per- son to initiate and approve a transaction or request, thus, assuming the role of both Maker and Approver, which poses a higher risk compared with dual control.

2.16. “System” refers to the Bank’s online facility for business clients.

2.17. “User” or “Users” refers to individual/s authorized to access, use, and/or transact in the facility on behalf of the business account.

2.18. “Viewer” refers to the user’s role that could view account informa- tion within the facility. Conditions Governing EastWest Bank Accounts, these Terms and Conditions shall prevail insofar as Business Banking-re- lated items are concerned.

3. Electronic access to your Account and/or Service

3.1. Our electronic services are available through different devices (i.e. personal computers or mobile devices). The features of our electronic services may vary and the access and functions may differ depending on the type, system specifications and configuration of your device. In order to secure your account, we may require certain standard of speci- fication, software version and such other technical requirements of your device used to access our electronic services.

3.2. If you access our electronic services outside of the Philippines, your access may be limited and subject to the relevant laws and regulations of that country. We will not be responsible for any fees, charges and expenses which may be imposed by your telecommunication or other service providers in connection with the use of our electronic services.

3.3. There may be circumstances where we may need to change the frequency and manner of use of our electronic services, transaction or daily limits, operating hours and types of facilities and services. In certain situations, we may have to suspend the electronic services. You agree that under such circumstances, we will not be responsible for any inconvenience, loss, damage or injury suffered by you or any third par- ty, or any other similar circumstances beyond the reasonable control of the Bank. We will notify you of such changes or suspensions whenever reasonably possible.

3.4. We trust that you will use our electronic services in accordance with all applicable laws, regulations, guidelines and within our reasonable expectations. You shall not use our electronic services for any purposes which are not authorized by us.

3.5. You agree that we may provide you with user guides, procedures, any technical or functional specifications and / or other materials and instructions for the access to, operation, and use of Services. You have read, understood, and assessed all such materials and determined that they are adequate to protect your interests.

3.6. You agree you have taken reasonable steps to detect, prevent, re- move and remedy any unauthorized access to or use of the facility (in- cluding actual or potential Malware breaches of client systems).

3.7. You agree that you have adequate internal controls, procedures, processes and other security arrangements to prevent unauthorized ac- cess to or use of the facility, and that in case of Single Control, you as- sume all the risks and hold the Bank free and harmless for any resulting damage to you as a result of adopting the Single Control transaction procedure.

3.8. You agree to use the facility within the authorization limits and func- tionality parameters you set up.

3.9. You agree that you must immediately report any (i) actual or po- tential Loss suffered by you in connection with the facility; (ii) actual or attempted loss, theft, misuse or unauthorized use of System Materials or any credentials; (iii) actual or potential problems with unauthorized ac- cess to the facility; (iv) actual or attempted unauthorized transactions; or (v) failure to comply with user guides, procedures or other specifications. You will help us with our reasonable requests to resolve such problems;

3.10. You agree that we may provide you with Software necessary for you to use the electronic services. You are responsible for ensuring that you have the necessary consent to install, configure and integrate the Software with your systems.

3.11. You agree that you are responsible for using, having or obtaining the necessary connectivity, hardware, software and other equipment for using the facility that is suitable and satisfies your requirements. You are solely responsible for obtaining all necessary consents and for compli- ance with any conditions of use or charges associated with your use of any channel, equipment, or service accessed through that equipment within your organization. You are responsible for any credentials we provide to you or which you use to access an online service to communi- cate with us electronically or give us instructions.

3.12. You agree that we may engage third party service providers (in- cluding payment, clearing or settlement systems, clearing houses, pay- ment intermediaries, financial institutions or any subsidiary or affiliate of Filinvest Development Corporation) to be able to provide the Electronic Services which services are dependent on and subject to the perfor- mance of the third party service provider.

4. Use of electronic services

4.1. Should you opt to implement the single control user role, you ac- knowledge and agree that the decision to implement a single control user role rather than a dual control user role is made entirely at your own risk. The Bank shall not be held liable for any losses or damages arising from this decision.

4.2. You agree that you and your users shall be solely responsible for keeping your credentials strictly confidential. For security reasons, you shall ensure that your users change their Password/s regularly, espe- cially if they suspect that its confidentiality has been compromised. The Password designated by the User must not relate to any readily accessi- ble personal data such as name, birth date, address, phone number, or identification card number and must not be an obvious combination of letters and numbers, including sequential numbers (e.g. 123456) or one which can easily be guessed by someone else. You and your users agree to jointly and severally indemnify and render us free and harmless from and against any claim or liability which may arise from the unauthorized use or misuse or breach of the confidentiality of the credentials.

4.3. You agree that any and all transactions made using the user’s cre- dential shall be deemed by the Bank as official and binding upon with you and as having been authorized by the latter.

4.4. You agree that you and your users shall not use or permit the use of their credentials in whole or in part to carry out illegitimate and unlawful banking transactions via our electronic services.

4.5. You agree that your users understand and will comply with all relevant requirements in the EastWest Business Banking Agreement as well as the General Terms and Conditions governing EastWest Deposit Accounts, which can be found in EastWest corporate website (https:// www.eastwestbanker.com/pages/general-terms-and-conditions-govern- ing-eastwest-deposit-accounts) and the Privacy Statement, which can be found in EastWest corporate website (https://www.eastwestbanker. com/privacystatement).

4.6. You agree to promptly inform us of any changes to your Users. These changes will not take effect until we have processed them. If we are unable to process the changes, we will notify you as soon as pos- sible. You remain responsible for all transactions that occur while your request is being processed.

4.7. You agree that you remain liable for all acts and transactions of your user during the period that such person has been granted access and use of the electronic services.

4.8. The electronic services may be available through mobile applica- tion. The mobile application allows your user to authorize transactions, view report or obtain information about your account or service.

4.9. We may enhance our electronic services from time to time. If such changes are not suitable for your needs or any new or existing func- tionality causes you concern, you agree to immediately communicate with us so that we can discuss alternative solutions. You agree that any modified or additional service functionality will continue to be governed by the Agreement.

4.10. You or your user choose to activate or use any feature that en- ables access to and/or use of biometric credentials on any device or application (including without limitation fingerprint or facial recognition features), you acknowledge and agree that such features are provided by device and not by us and we have no obligations or responsibilities to you or your users in relation to such features. We expressly exclude any guarantee, representation, warranty, condition, term or undertaking of any kind relating to or arising from the functionality, compatibility or availability of such features and whether they meet your requirements. You accept that there are risks associated with the accuracy, reliability and/or availability of such features on the device to authenticate the identity of you and/or your user, which may allow unauthorized third parties to gain access to any device or application secured using biomet- ric credentials and transmit to us instruction that are referrable to your credentials. You agree to assume such risks to the maximum extent per- mitted under applicable law, and we may act and rely on any instruction referrable to your or your users’ credentials.

5. Transaction Services

5.1. You agree that we may specify limits on how much you need to have in your Account, the type of currencies that we may accept, as well as our usual charges commission and interest rates and any other requirements.

5.2. You are responsible for ensuring that your account is active with sufficient funds to cover for your transaction at all times. Any charges or penalties as a result of an unsuccessful transaction due to insufficiency of funds or account dormancy will be for the account of and paid by you.

5.3. You agree that we may implement cut-offs during the day for the electronic services. If the transaction is carried-out after the cut-off time, it shall be processed on the next banking day. Any charges or penalties as a result of the next day transaction will be for the account of and paid by you. We will notify you of such changes or suspensions whenever reasonably possible.

5.4. You shall promptly notify us in case any error in the transaction is carried out through our electronic services via electronic mail or other reasonable means of communication. We will investigate the reported error and advise you of the result. We will, on a best efforts basis, and without any guarantee, correct or reverse any reported error without us incurring liability as a consequence thereof.

5.5. Upon receipt by us and/or by you of any notice or order of restric- tion, legal or contractual, including-notices of garnishment or hold-out on or with respect to any enrolled account, you shall promptly stop or 

desist from carrying out any transaction that will defeat the purpose of the restriction and shall not make or do transactions with respect to said account for as long as the account restriction is effective or until it shall have been lifted, removed or totally implemented.

Account Statement

5.6. We may send your Account statements, confirmations and advice through an appropriate Channel or by any other method we have agreed with you.

5.7. You must check your Account statements, confirmations and advice carefully. You must inform us in writing of any mistakes or unauthorized transactions as soon as possible and no later than ten (10) days from the transaction date (or such other period specified in the relevant state- ment, confirmation or advice). If you fail to do so we may consider them as correct. If you do not receive any Account statements, confirmations or advice from us, please visit any of our stores/ branches, our web- site at www.eastwestbanker.com, or call our customer service hotline to speak to our customer service officer.

Fund Transfers

5.8. We may accept an instruction to transfer funds between your ac- count and any other account of yours or any other person maintained with us or with other bank.

5.9. You are responsible for giving us the correct information. If your instructions identify the payee both by name and by account number, We, who receive your instructions may process such instructions solely based on the account number without the need to validate the name. Thus, in case of discrepancy, between the account number and name, the account number matching shall suffice to complete the instructions received by the Bank. For inter-bank transfers, processing rules of bene- ficiary bank shall apply to your transaction.

5.10. Scheduled or future dated transaction once approved by you and/ or your users shall be processed based on the scheduled date, unless cancelled by the user one (1) day prior to its posting.

5.11. We are not responsible for and have no duty to check any informa- tion you give us in your payment instructions.

5.12. You authorize us to send your instructions on your behalf to other third-party service providers, to carry out your payment instructions. Pro- cessing shall be subject to the third-party service provider’s transaction cutoff and guidelines.

5.13. You shall ensure that your account is sufficiently funded on the day of actual processing of your instruction.

5.14. Under no circumstances, you shall withhold, stop or reverse the processing of your instructions once the said request has been confirmed by you. We shall have no obligation to reverse any amount that has already been executed.

Currency Conversion

5.15. You agree that we may convert currencies for any amounts re- ceived from you or due to you, or as instructed, including electronical- ly, using our prevailing exchange rate available on our website. If we confirm a foreign exchange transaction orally, over the telephone or electronically, it is binding from that confirmation.

Bills Payment

5.16. We may accept an instruction to pay bill from your account to the biller account.

5.17. You are responsible for giving us the correct payment information. We shall process the payment instruction based on the information/s that the platform shall require from you.

5.18. We are not responsible for and have no duty to check any infor- mation you give us in your payment instructions.

5.19. You authorize us to send your payment instructions on your behalf to payment intermediaries and other third-party service providers, so as to carry out your payment instructions.

5.20. You agree that we may set limits on your bills payment transac- tions.

5.21. You agree that scheduled or future dated transaction once ap- proved by you and/or your users shall be processed based on the sched- uled date, unless cancelled by the user one (1) day prior to its posting.

5.22. We may accept an instruction from you to safekeep your checks with us.

5.23. We shall only accept local or regional checks that is payable to you or payable to “Cash”. We shall not accept checks with second or multiple endorsements.

5.24. You shall stamp the deposit account number at the back of each check and deliver them to us at least ten (10) banking days before their maturity date.

5.25. You shall submit to us the transmittal file, conforming to our stan- dards, through our channel.

5.26. You shall primarily be responsible for checking any technical de- fects of the submitted checks (such as alterations whether signed or un- signed, lacking in signature, no amount in words, and others). We shall return the checks and inform you immediately of any other defects that could be detected by us.

5.27. You must acknowledge the accuracy of or dispute the check details within three (3) banking days from the date of the report was made available, otherwise, the check details that was submitted will be pre- sumed accurate.

5.28. On the check’s maturity date, we shall deposit the checks to your deposit account. Reports shall be made available in our channel.

5.29. We shall provisionally credit your deposit account until such time the check has been cleared and credited to us.

5.30. We shall debit your account for any returned or dishonored checks including charges associated with it.

5.31. We shall notify you of the returned or dishonored checks on the day it was received.

5.32. We shall not redeposit any checks without your expressed consent or advise. Redepositing of returned or dishonored checks shall be sub- ject to the guidelines of the Philippine Clearing House.

5.33. You may instruct us to hold, pullout or replace the checks through the channel. Checks that are put on hold shall not be deposited unless you instruct us to lift the hold status.

5.34. We shall immediately credit all cleared funds to your account.

5.35. We may accept instruction from you to prepare check/s payable to your payees.

5.36. Depending on your instructions, we can print your checks either through our manager’s check or through your commercial check at our premises or at your premises.

5.37. You shall be responsible in providing us a copy digital signature that shall be printed to your commercial check or your wet signature signed in the commercial check, whenever applicable.

5.38. You shall ensure that necessary approvals have been secured on the use of the submitted specimen signature (wet or digital).

5.39. You may file for stop payment order for issued commercial checks, subject to our guidelines on stop payment order.

5.40. You will be responsible in monitoring the accuracy and correctness of the transactions authorized or undertaken by your users using the channel.

5.41. You shall provide us with your list of payees at least three (3) banking days prior to check printing. You shall confirm the list of payees through the requisite Letter of Authorization sent by fax the same day the list of payees was sent to enable us to check the accuracy of the payees and payment data, when applicable.

5.42. We may accept instruction from you to disburse check to your payees.

5.43. Once the check/s have been printed, you may instruct us to dis- burse the printed check through the following:

1. Store or Branch of Account; or

   i. During check releasing, we shall rely on the submitted list of payees and shall not release any printed checks to any person not included in the list of payees.

   ii. We shall require proper and valid identification from the payee or its authorized representative to whom the printed checks shall be released. Failure on the part of payee or its

   authorized representative to present proper and valid identification shall constitute sufficient reason for the non-re- lease of the check.

   iii. We shall require the payee or its authorized represen- tative to issue the requisite Official Receipt or Provisional Receipt. No check shall be released to any payee or its authorized representative who does not issue the Official Receipt or Provisional Receipt.

2. To your designated address

5.44. We shall disburse checks only during banking hours.

5.45. We may accept instruction from you to sweep your accounts at a designated date or at a designated account balance level.

5.46. You shall ensure that your account is sufficiently funded in the day of actual processing of your instruction.

5.47. Under no circumstances, you shall withhold, stop or reverse the processing of instructions once the said request has been confirmed by you. We shall have no obligation to reverse any amount that has already been executed.

5.48. On the day of the execution of instruction and in the event that there is an account that should not have been debited or that any trans- actions are to be withheld, but were included in the said request, or if there are changes, amendments, modifications, alterations or correc- tions to said uploaded or transmitted collection file, we shall have no obligation to reverse any amount that has been debited.

5.49. We may accept instruction from you to debit your authorized payor account and credit the proceeds to your account at a designated collection date.

5.50. You shall be responsible in enrolling using bank forms and secur- ing authorization to debit from your payor account in our channel.

5.51. We shall execute instruction based on the submitted collection file. We shall not process debit instructions from payor accounts that are not enrolled, beyond its authorized limit or beyond its intended duration.

5.52. Under no circumstances, you shall withhold, stop or reverse the debiting of your payor account. We shall have no obligation to reverse any amount that has already been debited from your payor account.

e-Gov Transactions

5.53. You agree to use our facility for the filing and settlement of your payments to government agencies.

5.54. You and your user shall be assigned corresponding credentials in order to transact. For further information, please refer to details con- tained in the materials that we have provided to you and your user.

6. Notification Services

6.1. You and your user shall be solely responsible for checking the status of your transactions by logging on to the facility from time to time. The system will nevertheless automatically send notifications to your users enrolled in the facility.

6.2. You and your user shall provide correct and operational e-mail ad- dresses and/or mobile phone number/s and shall ensure and hereby warrant the correctness of the Information entered.

6.3. You likewise agree that you shall be responsible for keeping the confidentiality of the information contained in the notifications sent to the designated e-mail address and/or mobile phone number/s. We shall not be liable for any unauthorized disclosure or use of such information by you and/or your user.

6.4. You shall promptly update us of any change in your contact informa- tion/s or any other information which may affect communication. Prior to such change, we shall have the right to rely upon and send/receive notifications to/from contact information as indicated in the CSF, without the Bank incurring liability as a consequence thereof.

6.5. You shall be responsible, at your own expense, for providing the proper equipment, subscription, membership, internet connection, and other paraphernalia necessary and required to enable it to receive no- tifications from us. Your ability to receive notifications depends on the availability of these resources and the BANK does not endorse nor guar- antee any third-party service or product for this purpose.

7. ADB fees and charges

7.1. You agree to maintain the minimum monthly ADB set for availing any of the facility and/or electronic services.

7.2. We may, from time to time, upon giving notice, impose fees and charges for your use of the facility.

7.3. You hereby authorize us to debit your nominated account/s for the amount of such fees and charges. If at any time there are insufficient funds in the said accounts to cover fees and charges, we may refuse to carry out transaction without the Bank incurring any liability as a result of such refusal.

7.4. Any and all taxes arising from the use and availment of the facility, including payments made hereunder, shall be for your account.

8. Termination / Suspension of Access and Use

8.1. You may request the termination or suspension of access to and use of the facility by submitting a written request addressed to our Account Officer, Store Manager or Sales Officer managing the account. You shall remain responsible for any transactions, including any remaining scheduled transactions, made on the account until the time the Bank receives the letter of termination or suspension.

8.2. We may terminate or suspend your access to and use of the facil- ity at any time, subject to at least thirty (30) days prior notice of such termination.

8.3. We may terminate or suspend your access to and use of the elec- tronic services without prior notice if you have breached these Terms & Conditions;

• We learn of your bankruptcy, insolvency, liquidation, dissolution or other analogous circumstances or that you committed an act of bankruptcy, insolvency, liquidation, dissolution or other analogous acts, or that a bankruptcy or insolvency or other analogous petition has been filed against you;
• No sufficient funds in the enrolled Account/s to cover payments or payment instructions given;
• If in our reasonable opinion, your enrolled Accounts are being mishandled as determined pursuant to the Bank’s existing policies and procedures, or if the enrolled Accounts or the electronic ser- vices is being used for or suspected to any unlawful or illegal activ- ity or transaction.
• We consider that there exist other reasonable grounds to do so (in which case all reasonable efforts will be made to advise you of the circumstances of termination or suspension); or

8.4. We may terminate this Agreement immediately upon written notice to you if so, required by BSP or other regulatory body or in compliance of a law or regulation.

8.5. Any and all accrued but unpaid obligations by you prior to termi- nation, and terms and conditions hereof which by expressed terms, shall survive the termination of your access and use of the facility.

9. Representations and warranties

9.1. You represent and warrant to us that:

• You are duly organized and validly existing under the laws of its place of incorporation, with the power to execute this Agreement and to exercise its rights and perform its obligations hereunder.
• Your users have the proper and necessary authority to act for and on your behalf in connection with the use and availment of the facility and carrying out transactions.
• All corporate or other actions required to authorize the execution and performance of its obligations hereunder have been duly taken;
• All authorizations, licenses and consents from governmental au- thorities in places where it has business presence, in respect of the execution and performance of this agreement have been duly taken;
• All authorizations and consents (including those of third parties) with respect to your enrollment of the Accounts in the facility, and allowing access, use of and transactions on said Account/s, have been duly taken;
• This agreement, when executed, will constitute its legal, valid, and binding obligation enforceable in accordance with the terms thereof; and
• During the effectivity of this agreement, it shall keep in full force and effect all authorizations, licenses and consents from government authorities, which is required by law in places where it has business presence in respect of the execution and performance of this agree- ment.

10. Indemnification Clause

10.1. You hereby agree to indemnify and hold the Bank, its directors, officers, employees, and agents and assigns, free and harmless from and against any claim, cause of action, suit, liability, loss or damage of what- ever nature which may arise as a result of or in connection with the use and your availment of the facility, and the implementation of facility’s transactions, and specifically in the following instances:

• Disruption, failure, error or delay relating to or in connection with the facility, the implementation of transactions, transmission and/or receipt of messages, communications, materials, correspondences and/or information via the facility which is due to events such as but not limited to prolonged power outages, breakdown in computers and communication facilities, and/or which are attributable to pay- ment and settlement EFT systems such as InstaPay and Pesonet and other gateway payments systems, which are beyond the control of the Bank.
• Fraudulent access or use of the facility and from any fraudulent or unauthorized transactions within the facility resulting from theft, unauthorized disclosure of credentials, or non-compliance with secu- rity requirements outlined in this Agreement, or any other fraudulent activities, caused by you, your representative or third-parties.
• Inaccurate, incomplete or delayed information that you received due to disruption or failure of any communication facilities used by the facility;
• Delay and/or failure to implement or carry out transactions on the account/s due to garnishment, execution, hold-out and similar restrictions on the Account/s; and/or unauthorized or fraudulent en- rollment, use of, and transactions in the facility;
• Your inability, delay and/or failure to comply with the Terms & Conditions of this Agreement.

10.2. By opting to assign a single control user role rather than a dual control user role, you acknowledge and assume full responsibility for all associated risks. You agree to indemnify and hold the Bank, its officers, directors, and employees free and harmless from any claims or liabilities arising from or related to transactions authorized by the single control user. This indemnification includes, but is not limited to, unauthorized transactions, fraud, errors, or any other consequences resulting from the assignment of the single control user role.

10.3. We may terminate this terms & conditions immediately upon writ- ten notice to you if so, required by BSP or other regulatory body or in compliance of a law or regulation.

10.4. The above provisions shall survive the termination or suspension of the facility.

11. Proprietary and Disclosure Rights

11.1. You agree that the facility, its website, the software used in connec- tion therewith, any and all materials and information’ (including, modi- fications, enhancements, updates) used in or derived from the provision of the facility, associated marks, logos, business names, products and services (“Proprietary Items”) are proprietary and confidential to the Bank and/or its licensor /s and are protected under intellectual property and other applicable laws.

11.2. You shall not (and shall not allow third parties) to copy, modify, create any derivative work from, reverse engineer, reverse assemble or otherwise attempt to discover any source code, sell, assign, sublicense, transfer any right or grant any security interest in the Proprietary Items, nor disclose the same.

11.3. You further agree that we may disclose, preserve or maintain any information, message, material, correspondence, data, communication and/or notification provided by you in connection with the use of the facility

• if required to do so by law, government rule or regulation, or legal process.
• if the Bank has a good faith belief that such disclosure is neces- sary to comply with the law, government rule or regulation, or legal process.
• to enforce these Terms & Conditions.
• to respond to claims that such information, message, material, correspondence, data, communication, and/or notification violates the rights of third parties.
• to respond to your request for customer service; and/or
• to protect the Bank’s rights and property, its customers and/ or the general public.

12. Miscellaneous provisions

12.1. Liability Limitation. The Bank’s entire liability in connection with the online facility shall be limited to the amount of fees you paid for the use and availment of the facility or the amount of the reasonable actual and direct loss or damage you suffered whichever is lower. We shall not be liable for any special, consequential or indirect damage you suffered from the use or availment of the facility. This Provision shall survive the termination or suspension of the facility.

12.2. Bank Secrecy Laws. You hereby acknowledge that it is aware of, understands the effect of, and agrees and undertakes to, and cause all the Users to observe bank secrecy laws, including but not limited to the provisions of Republic Act No. 1405, as amended, Republic Act. No. 6426, as amended, Section 55.1 of Republic Act No. 8791 and other applicable laws or regulations (collectively, the “Bank Secrecy Laws”) in connection with the use and availment of the facility to access and/or do transactions on Third Party Account/s. You further agree and undertakes that it will not, and covenants that all the Users will not do anything which will cause the Bank to violate any provision of the Bank Secrecy Laws or otherwise be guilty of an offense thereunder. You agree that you shall be solidarily liable with the Bank should your or your user’s disclo- sure of information relative to Third Party Account/s, and the enrollment and use of such Accounts in the facility result to a violation by the Bank of the Bank Secrecy Laws.

12.3. E-Commerce Act. The provisions of the Electronic Commerce Act of 2000 (R.A. 8792) and its Implementing Rules and Regulations, including Amendments and supplements thereto (“E-Commerce Act”), shall apply to this facility and the use and availment of transaction in this facility, in so far as said provisions are consistent with the Terms & Conditions of this Agreement. In the event of inconsistency between the provisions of the E-Commerce Act and Agreement, the latter shall prevail.

12.4. Confidentiality Obligation. You shall keep and cause your Users and/or other persons you authorized to have access to the facility, to keep and maintain the strict confidentiality of any and all messages, materials, information, communications, correspondences, data, notifi- cations received, recorded, transmitted, generated, stored, processed, retrieved and/or produced electronically by the facility. This confidenti- ality obligation shall survive the termination or suspension of this facility.

12.5. Force Majeure. We shall not be liable for any damage or delays caused by or arising out of force majeure, namely, typhoons, floods, earthquakes, calamities or other Acts of God, public disturbances, war, riots, lock-outs or strikes, coup d’état, embargo pandemic and other sim- ilar events beyond the control of the Bank,

12.6. We may at any time, amend any of these terms and conditions as it may deem necessary for the best interest of both parties, upon sixty (60) days’ notice to you prior to the implementation of any amendments. You hereby agree to be bound by such amendments.

12.7. You agree to be bound by the General Terms and Conditions Gov- erning EastWest Bank Accounts (https://www.eastwestbanker.com/pag- es/general-terms-and-conditions-governing-eastwest-deposit-accounts) and by the Privacy Statement (and the Privacy Statement, which can be found in EastWest corporate website (https://www.eastwestbanker. com/privacystatement), which are made part of this Agreement, in so far as they are consistent herewith.

12.8. Our failure to demand strict compliance with any of these terms and conditions shall not be construed as a waiver thereof. Any waiver to be effective shall be made in writing and signed by us.

12.9. You shall ensure and hereby warrants that you and your User/s have clearly understood these terms and conditions and the procedures governing, the use and availment of the facility, and that you are fully aware and hereby assumes the potential risks arising from the use of the facility.

12.10. These terms and conditions and the interpretation and implemen- tation hereof shall be governed by Philippine laws and shall be subject to the applicable rules and regulations of the Bangko Sentral Ng Pilipi- nas, government, telecommunications and other regulatory authorities, and the business rules, policies, procedures of the Bank governing this facility.

12.11. All suits arising out of these terms and conditions shall be exclu- sively lodged in the proper courts of Taguig City.

12.12. You shall not assign any of its rights and obligations under these terms and conditions without our prior written consent.

12.13. Should any of these terms and conditions be declared by compe- tent authority as invalid, all other terms and conditions not affected by said invalidity shall remain effective and binding upon the parties. From the interpretation or implementation of these terms and conditions and/ or the use or your availment of this facility, the parties hereby undertake to exert maximum efforts to resolve such dispute or controversy amicably within a period of THIRTY (30) days from the date question or controver- sy arose. During such period, the parties are prohibited from filing any case or complaint in a court of law or administrative and quasi-judicial body. Only when the aforementioned 30-day period shall have already elapsed without the parties reaching an amicable settlement may the aggrieved party file the necessary action in the appropriate Philippine court of law, administrative or quasi-judicial body.

12.14. Each of the parties agrees to execute and deliver all such further instruments, and to do, and perform all such further acts and things as shall be necessary or convenient to carry out these terms and conditions.