Terms and Conditions for the use of Business Internet Banking and
Business Telephone Banking
1. General
The Customer shall be bound by the General Terms and Conditions for the Operation of Accounts and Electronic Banking Services governing the types of accounts in connection with the Service and in case of conflict between the said General Terms and Conditions and these Terms and Conditions, the latter shall prevail.
2. Definitions
In these Terms and Conditions, unless the context otherwise requires:
"Company" means properly constituted Limited Liability Company / general partnership / Joint Stock Company or any other company duly formed and constituted under the laws of the Kingdom of Saudi Arabia.
"Establishment” means an establishment duly constituted under the laws of the Kingdom of Saudi Arabia.
"Customer" means the authorized person(s) of the company or the owner of the establishment.
"Account" means the Business Account established by the Establishment / Company.
"SABB Business Internet Banking" means the Internet Banking Service offered by the Bank to the establishment / company. This service is available to all business accountholders.
"SABB Business Direct" means the telephone banking service offered by the Bank to the Establishment / Company. This service is available to all business accountholders.
"Authorized delegate SABB BIB and Business Direct Service User" means the owner of the Establishment / or the person authorized by the Company to operate the Account by internet and telephone.
"Personal Identification Number" means the code number for the time being, established for the Authorized SABB BIB and Business Direct Service User for the purpose of identification of the Authorized SABB BIB and Business Direct Service User in giving instructions to the Bank by internet and telephone.
"Credit Account" means any account maintained with the Bank for the time being, designated for the purpose of making withdrawal of funds in relation to the Business Internet and Telephone Banking Service.
"Full Access" means that the user has the ability to complete all transactions and inquiry services through the use of SABB BIB and Business Direct Services.
"Inquiry Access" means that the user has the ability to complete only inquiry functions on SABB BIB Business Direct.
“Authorized Internet Banking User(s)” means the individuals who are authorized from time to time by the Customer to use the Services to issue Instructions, including both Primary and Secondary Users.
“Delegate” means any of the Primary User(s) or Secondary Users who are authorized from time to time by the Customer to use the Services to issue instructions.
The “Security Code” means the one-time password generated by the
Security Device.
The “Security Device” means an electronic device used to generate the
Security Code.
3. Service Scope
The Bank will from time to time specify the scope and features of the SABB BIB and Business Direct Services and may modify, expand or reduce the same at any time and from time to time with or without notice. Where such notice shall, in the sole discretion of the Bank, be given, such notice may be made in such manner and by such means of communication as the Bank shall deem fit, including without limitation, the use of direct mailing materials, advertisement or branch display.
4. Authorization:
For companies: partners resolution or board resolution or board of managers resolution as per as the company’s articles of association delegating the authorized signatories to use business internet banking and business telephone banking services specifying the type of service that a delegate can perform on behalf of the company.
The Authorized Signatories can nominate Primary Users, who can then create Secondary Users.
5. Limitation of Liability and Indemnity:
The Bank is authorized to act on the instruction of the Establishment / Company given by the Authorized SABB BIB and Business Direct Service User by internet and telephone ("internet and telephone instruction") and the Customer agrees that:
- the Bank is authorized to act on any internet and telephone instructions which the Bank, in its sole discretion, believes emanate from the Establishment / Company and/or Authorized BIB and Business Telephone Banking Service User by the use of the Personal Identification Number ("the PIN") assigned to the Authorized SABB BIB and Business Direct Service User by the Bank and any number(s) substituted by the Authorized SABB BIB and Business Direct Service User for that purpose. The Bank shall not be liable for acting in good faith in accordance with internet and telephone instructions which emanate from unauthorized individuals and the Bank shall not be under any duty to verify the identity of the person or persons giving internet and telephone instructions purportedly in the name of the Authorized SABB BIB and Business Direct Service User;
(b) the Authorized SABB BIB and Business Direct Service User shall undertake to keep the PIN strictly confidential at all times and the Establishment/Company and / or Authorized SABB BIB and Business Direct Service User shall report to the Bank immediately upon loss of the PIN and becoming aware that the PIN has fallen into the hands of any unauthorized party;
(c) the Customer shall ensure that there are sufficient funds or pre-arranged credit facilities in the Establishment / Company account(s) for the purpose of the internet and telephone or other instructions, and the Bank shall not be liable for any consequence arising out of the Bank’s failure to carry out such instructions due to inadequacy of fund and / or credit facilities proved always that if the Bank at its sole discretion shall decide to carry out the instructions not withstanding such inadequacy, the Bank may do so without seeking prior approval from or notice to the Establishment / Company. The Establishment / Company shall be responsible for the resulting overdraft, advance or credit thereby created;
(d) any exchange rate or interest rate quoted by the Bank in response to internet and telephone instruction is for reference only and shall not be binding on the Bank unless confirmed by the Bank for the purpose of transaction. Such confirmed exchange rate or interest rate, if accepted by the Authorized SABB BIB and Business Direct Service User through the SABB BIB and Business Direct Service, shall be absolutely binding on the Establishment / Company notwithstanding that a different exchange rate or interest rate might have been quoted by the Bank at the relevant time through other means of communication;
(e) the Bank shall not be liable to the Establishment / Company for any failure to carry out any internet and telephone instruction which is attributable, wholly or in part, to any cause beyond the Bank’s control including any equipment malfunction or failure and under no circumstances shall the Bank be responsible to the Establishment / Company for any indirect or consequential losses arising out or in connection with the carrying out or otherwise of the Authorized SABB BIB and Business Direct Service User’s telephone instructions;
(f) the Establishment / Company shall keep the Bank indemnified at all times against all actions, proceedings, claims, losses, damages, costs, and expenses which may be brought against the Bank, or suffered or incurred by the Bank and which shall have arisen either directly or indirectly out of, or in connection with the Bank accepting telephone instructions and acting or failing to act thereon unless due to the willful default of the Bank. Such indemnity shall continue notwithstanding the termination of the account relationship;
(g) the Authorized SABB BIB and Business Direct Service User’s right to give internet and telephone instructions pursuant to the Terms and Conditions herein shall at all times be subject to the discretion of the Bank and that the Bank may at any time revoke such right with prior notice;
(h) all Authorized SABB BIB and Business Direct Service Users shall be entitled to use the SABB BIB and Business Direct Service singly irrespective of their signing authority under the mandates for either or all of the Account, the Debit Account(s) and Credit Account(s);
(i) the Establishment / Company shall notify the holder of the Credit Account(s) or such other account(s) not designated as Credit Account(s) but to which the Customer has transferred money using the SABB BIB and Business Direct Service. The Bank shall not be responsible to the Customer or any other person for giving any such notice;
(j) if there is more than one Customer, then under the provisions herein:
(i) the liabilities and obligation of each of them shall be several,
(ii) references to the Customer shall be construed, as the context requires, to any or each of them,
(iii) each of them shall be bound even though any other Customer or any person intended to be bound hereby is not, and
(iv) the Bank shall be entitled to deal separately with a Customer on any matter, including the discharge of any liability to any extent, without affecting the liability of any other Customer, and
(k) the Customer understands and acknowledges that telephone instructions may not necessarily be processed by the Bank immediately, or on the same day of the giving of such telephone instructions due to system constraint or the banking procedures of the Bank. The Customer agrees that the Bank shall not be held responsible to the Customer or any other person for affecting such internet and telephone instructions at a later time and the Bank’s decision as to when to effect the said internet and telephone instructions shall be final and binding on the Customer.
You are responsible for acquiring and maintaining any equipment required for your continued access to and use of the Internet Site (such as your telephone or computer) and for your own computer’s anti-virus software and security measures.
You confirm that you have assessed the security features of internet banking and have determined that they are adequate to protect each of the Delegate’s and your interests in using the Services.
You agree to ensure that each of your Delegates complies with the terms of this Agreement and any security procedures mentioned or referred to in it including, inter alia, the security recommendations contained in the User Guide.
If you suspect any impropriety on the part of any Delegate in connection with the Services or a Delegate leaves your business, you must take all steps available to ensure that the Delegate is unable to access the Services. You further undertake to notify us immediately to terminate such Delegate’s access to the Services.
Each Delegate will be issued with a User ID and a Password notified to them directly but at separate intervals.
The Customer shall follow the guidance provided by the Bank on-line in designating the User ID and the Password for identifying the Customer for the purposes of the Services.
The Bank may, in its sole discretion, require a Customer to use a Security Code to access the Services in the event of which it is the sole responsibility of the Customer to apply to the Bank for a Security Device or a replacement if a Security Device has previously been issued but is subsequently lost or has failed to function as intended.
The Customer shall act in good faith, exercise reasonable care and diligence in keeping the User ID, the Password, the Security Device and/or the Security Code secret. At no time and under no circumstances shall the Customer disclose the User ID, the Password and/or the Security Code to any other person or permit the Security Device to come into the possession or control of any other person.
The Customer shall be fully responsible for any accidental or unauthorized disclosure of the User ID, the Password, the Security Device or the Security Code to any other person and shall bear the risk of the User ID, the Password, the Security Device or the Security Code being used by unauthorized persons or for unauthorized purposes.
Upon notice or suspicion of the User ID, the Password, the Security Device and/or the Security Code being disclosed to, and/or the Security Device being lost or has otherwise come into the possession or control of any unauthorized person or any unauthorized use of the Services being made, the Customer shall notify the Bank as soon as practicable (and the
Bank may ask the Customer to confirm in writing any details given) and, until the Bank’s actual receipt of such notification, the Customer shall remain responsible for any and all use of the Services by unauthorized persons or for unauthorized purposes.
6. Fees
The Bank reserves the right to impose service fees and / or other charges from time to time as the Bank in its absolute discretion thinks fit.
7. Governing Law
These Terms and Conditions shall be governed by and construed in accordance with the laws of the Kingdom of Saudi Arabia
8. Value Added Tax
Without prejudice to the provisions of the Saudi Value Added Tax Law and its implementing Regulations, that Bank will charge a Value Added Tax at the rates prevailing by the Saudi Government from time to time without the need to obtaining the prior approval of the Costumer, Vat amount - if applicable - will be disclosed with every transaction.
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