TERMS AND CONDITIONS GOVERNING THE ISSUANCE AND USE OF THE CHINA BANK CREDIT CARDS

As of January 2021

KNOW ALL MEN BY THESE PRESENTS:

In consideration of the issuance of the Credit Card provided by China Banking Corporation (CBC), the Credit
Cardholder (Cardholder) and his co-obligor/s, if any, bind themselves to faithfully comply with the following Terms
and Conditions governing the issuance and use of the Credit Card or any renewal thereof, to wit:

1. Definitions and Interpretation

1.1 Certain Defined Terms. As used herein, the following terms shall have the following meaning/s:

“Agreement” means, unless the context requires otherwise, these terms and conditions governing the issuance
and use of CBC’s Credit Card products, and any amendments and/or supplements.

“Business Day” means a day other than Saturday, Sunday, and public non-working holidays.

“Cardholder” means the person who opens and maintains one or more Credit Card Account with CBC. The term
shall likewise include the person to whom a supplementary credit card is issued upon the application of the
principal or primary cardholder.

“CBC” and “Bank” refers to China Banking Corporation.

“Credit Card” refers to all Credit Cards issued by CBC. The Credit Card is sole property of ISSUER. It is non-
transferable and it will be honored by the issuer’s affiliated merchants subject to the issuer’s existing policies,
rules, and regulations as the same may be amended or supplemented from time to time.

“Credit Card Account” means all credit card account(s) of the cardholder, including the supplementary card(s),
issued by CBC upon the Cardholder's application request.

“Supplementary Cardholder” means the person to whom or for whose use a Supplementary Card is issued by CBC
upon the application of the Cardholder.

1.2 Headings and Interpretation. Titles, headings and sub-headings of provisions in this Agreement are used for
convenience of reference only and do not limit or affect the interpretation of the provisions hereof.

2. The Credit Card

2.1. Authority to Issue Credit Card. The Cardholder and co-obligor, hereby unconditionally and absolutely
authorize CBC to issue, upgrade and/or downgrade at any time and at its discretion, any and/or all Credit Card(s)
and Credit Card feature(s) in case the Cardholder is qualified/disqualified for membership therein, even without
the written conformity of, or notice to the co-obligor. The signing and/or use of the Credit Card(s) of CBC shall
constitute conclusive proof of consent of the Cardholder/co-obligor to be bound by the Terms and Conditions of
this Agreement. The Cardholder and the co-obligor agree to hold CBC free and harmless from any and all liabilities
in the exercise of the authority herein granted.
CBC may, at its exclusive option, suspend, block, terminate, or cancel the Credit Card privileges at any time for any
reason, without the need for prior notice to the Cardholder and the co-obligor in case of breach and non-
compliance with the terms and conditions of this Agreement. The Credit Card is the sole property of CBC and
therefore Credit Card shall not be 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 Credit Card.

2.2 Card Activation. Card activation is subject to the Bank's policies and procedures. CBC reserves the right to
decline Card activation request without any obligation to disclose the reason therefore, unless requested by the
cardholder.

2.3. Card Delivery. The Bank or the Bank's official courier shall deliver the Card to the Cardholder, or his /her
authorized representative allowed by the Bank under its existing delivery policy.

2.4. Supplementary Card(s). The Cardholder may apply for a Supplementary Card via available application
channels following the application procedures and requirements. Issuance of supplementary card(s) shall be at the
exclusive option of CBC subject to compliance with the Banks’ requirements. The use of the Supplementary Card(s)
shall be conclusive proof of notice and consent of the co-obligor. Any reference to the Credit Card issued to the
Cardholder shall also apply to the Supplementary Card(s). The Cardholder shall be liable for all transactions made
and cash advances obtained on any of Cardholder’s Supplementary Card(s), including interest and non-refundable
fees, and other charges. Cardholder and his/her Supplementary Cardholder(s) shall be jointly and severally liable
for any and all obligations, fees and charges incurred under the Supplementary Cardholder(s)’ Credit Card Account,
regardless of whether the amounts were incurred with or without the knowledge of the Cardholder on the basis
that security and safekeeping of the Credit Card shall be the exclusive responsibility of the Cardholder. The
Cardholder shall have the option to assign monthly spending limits to each Supplementary Card.

2.5. Company and Corporate Accounts. In case of corporate accounts, the company shall be considered as the
Cardholder but the Credit Card(s) shall be issued in the name of the company’s designated representative(s)
subject to the evaluation and approval of CBC.

3. Joining and Membership Fees. The Cardholder, upon approval of his/her credit card application, shall pay a
joining fee and annual membership fee in such amounts as may be fixed and announced by CBC. Renewal and/or
reinstatement of the Credit Card shall be at CBC’s exclusive option. All paid membership fees are non-refundable
even if the credit privileges are suspended or terminated, or if the Credit Card is surrendered by the Cardholder
before the expiry date. The payment of annual fee and joining fee shall allow the Cardholder to enjoy the benefits
of different programs subscribed to.

4. Use and Credit Limit of the Credit Card

4.1. Use of the Card. Use of the credit card is subject to the Terms and Conditions given here or as amended from
time to time. The Credit Card is for personal use only primarily for: (a) payment for goods and/or services; and /or
(b) credit facilities subject to requirements of and pre-arrangements made by the Bank. Moreover, the Credit Card
shall not be used for any prohibited or unlawful transactions under any applicable law.

4.2. Accredited Merchants. CBC has an agreement with Mastercard whereby the Credit Card shall be honoured at
all Mastercard accredited merchants locally. At CBC’s exclusive option, the Credit Card may be used worldwide
upon the request of the Cardholder. However, the Cardholder shall not hold CBC liable if the Credit Card is not
accepted, honoured, or processed by any local or foreign merchant, banks, financial institution, or any person for
any reason whatsoever, notwithstanding the availability of the Cardholder’s credit under the Credit Card Account.
Furthermore, Cardholder agrees to hold CBC free and harmless from any and all claims from damages in respect of
any product or service purchased through the Credit Card, or any merchant benefits given to or availed by the
Cardholder and/or his/her Supplementary Cardholder, or as a result of the failure of any accredited merchant or
any acquiring bank, or of Mastercard to honor the Credit Card.

4.3. Credit Limit. Upon acceptance of Cardholder’s application, CBC, at its sole discretion, shall grant a credit limit
to the Cardholder expressed in local currency (Philippine Pesos) which is the maximum amount available for use.
Except in case of temporary increase in limit granted on promotional basis, in no event shall the Cardholder and his
/her Supplementary Cardholder(s) exceed the Credit Limit. CBC reserves the right, at its sole and absolute
discretion, to decline any such transaction(s), suspend and/or terminate the Credit Card privileges of the
Cardholder and his/her Supplementary Cardholders without prior notice in case the said Credit Limit shall be
exceeded. In such an event, the Cardholder agrees to pay in full the Statement Balance, the sum of any unpaid
balance billed to the Cardholder at each billing cycle, which shall immediately become due and payable, without
the necessity of notice and demand, all of which are expressly waived by the Cardholder and his/her
Supplementary Cardholder(s). The Credit Limit shall be made available to the Cardholder and his/her
Supplementary Cardholder(s) a day after payment has been posted.

4.4. Cash Advances. The Cardholder and/or Supplementary Cardholder(s) may, upon full satisfaction of the credit
requirements of CBC, avail of cash advances through any accredited automated teller machines (ATMs), subject to
applicable fees and charges. For this purpose, a confidential Cash Advance Personal Identification Number (CA-PIN)
shall be provided to the Cardholder and/or Supplementary Cardholder(s), which may be generated by request
through China Bank Customer Service Hotline. CBC, at its sole discretion and at any time, can remove, reduce or
increase the Cardholder’s Cash Advance Limit. It is understood and agreed that all cash advances made with the
use of the Credit Card shall be solely for the account of the Cardholder who hereby expressly waives the
presentation of any supporting document in relation thereto, the records of CBC being conclusively presumed to
be correct. CBC may limit cash advances on the Credit Card to an amount determined at CBC’s sole discretion,
without notice to the Cardholder.

4.5. Overlimit. The Cardholder and/or Supplementary Cardholder(s) shall keep track of his/their total obligations
so as not to exceed the approved credit limit at any given time. The cash advance and installment transactions
form part of the total credit limit. The indication of a credit limit on the Credit Card Account shall not relieve the
Cardholder, Supplementary Cardholder(s), and/or co-obligor from liability for all purchases, cash advances, fees
and charges in excess of said credit limit. CBC reserves the right, without prior notice, to decline any transaction,
suspend or terminate the Credit Card privileges of the Cardholder and his/her Supplementary Cardholder(s) and/or
charge an over limit fee per over limit event in such amount as may be fixed and announced by CBC, if the credit
limit has been exceeded. For purposes of assessing the over limit fee, the approved combined credit limit for both
the Cardholder and the Supplementary Cardholder, or the total combined credit limit, if two (2) or more cards are
issued, shall be the basis of the computation. CBC may demand immediate payment of the amount in excess of the
credit limit or of all amounts outstanding. The use of Credit Card in excess of such credit limit, without prior
approval of CBC, shall be considered as a fraudulent act of the Cardholder and/or Supplementary Cardholder(s).
4.6. Increase/Decrease in Credit Limit. The Cardholder and the co- obligor, if any, hereby unconditionally and
absolutely authorises CBC to approve, at its discretion and even without the written conformity of, or notice to,
the co- obligor, any increase or decrease in the credit limit that has been applied for by the Cardholder or to
automatically effect, without notice, increase or decrease in the same due to the good or poor history of the Credit
Card Account or for whatever reason the Bank deems it’ necessary.

4.7. Mastercard PayPass. The Cardholder may pay for transactions using Mastercard PayPass at any Mastercard
PayPass terminal through Contactless payment. A Contactless payment allows the Cardholder to use the credit
card to pay for purchases without handing over or swiping the card. The Cardholder may simply tap the card on
the contactless reading terminal to pay. The Cardholder can use Mastercard PayPass for any amount within his
available credit limit. The Cardholder will not be required to sign for transactions below specific price tiers.

5. Prohibited Use of the Credit Card. The Cardholder, including his/her Supplementary Cardholder(s), agree not to
use the Credit Card for the purchase of items/goods the importation into the Philippines of which is subject to the
provisions of BSP Circular No. 1389, as amended, and all other circulars, laws, rules and regulations pertaining to
importation. Likewise, the Cardholder agrees and warrants that the proceeds of any cash advance availments
abroad shall not be used for foreign investments or the payment of foreign loans or in violation of any existing
foreign currency exchange rules and regulations. The Cardholder further warrants that he shall not use his Credit
Card Account nor settle his Credit Card obligations in violation of the RA No. 9160, as amended by RA No. 9194
(the Anti-Money Laundering Act), its Implementing Rules and Regulations and all other laws and regulations
pertaining to money laundering.

6. Liability of Cardholder, Co-Obligor, Supplementary Cardholder(s) and Companies (Corporate Accounts). The
Cardholder, Supplementary Cardholder(s) and/or co-obligor(s), if any, shall be jointly and severally liable to pay all
purchases, cash advances and all charges, whether made in the Philippines or abroad, including, but not limited to,
the non-refundable fees, charges and taxes required by the government, made and imposed through the use of
the Principal and Supplementary card(s), without necessity of proof of a signed charge slip or other documents,
until full payment thereof. In case of corporate accounts, the company and its authorized representative(s) shall be
jointly and severally liable for the payment of the same, without necessity of proof of a signed charge slip or other
documents, whether or not the same were incurred for the company. Said obligation shall continue in case the
Credit Card is renewed or reinstated by CBC, and despite the suspension or termination of the Credit Card.

7. Statement of Account (SOA). CBC shall furnish the Cardholder a monthly SOA, via email and other electronic
means or courier to the Cardholder’s billing address stated in the Credit Card application or at the billing address
record, containing the summary of all credit card transactions, fees and charges. The SOA shall be conclusively
presumed to have been received by the Cardholder during the applicable month unless the Cardholder notifies
CBC through telephone or in writing of his/her failure to receive a copy of such within the first thirty (30) calendar
days after the statement date. The SOA shall likewise be conclusively presumed to be correct unless the
Cardholder notifies CBC through telephone or in writing of any error within thirty (30) calendar days from
Statement Date. The Cardholder and their Supplementary Cardholder recognize and admit the integrity of the SOA
as an electronic document under the Electronic Commerce Act. Notwithstanding anything to the contrary, non-
receipt or late receipt of the SOA shall not relieve the Cardholder of his/her obligations to pay amounts due to the
Credit Card on Payment Due Date. Payment Due Date is the date which payment must be received by CBC. It is
determined as 20 days after the Statement Date, the date of the generation of the billing statement. If the
Statement Date falls on a Friday, weekend or non-working day, the Statement Date moves forward to the day
before the following working day.
CBC shall be notified immediately through the China Bank Customer Service Hotline, and in writing of any billing
error in the SOA. If the Cardholder notifies CBC of an error in the SOA, the Cardholder shall not be liable to pay the
disputed amount while CBC is undergoing investigation, but Cardholder is liable to pay such portion of the
Statement Balance which is not in dispute on or before the Payment Due Date. CBC shall treat the disputed
amount as an outstanding availment against the credit line. If after investigation, CBC acknowledges the error in
the SOA, Cardholder is not liable to pay any finance charges related to the disputed amount. Otherwise, the
Cardholder is liable to pay the disputed amount as well as the corresponding finance charges.

All other Terms and Conditions stated in the monthly SOA are deemed incorporated in this Agreement shall form
an integral part of these Terms and Conditions.

8. Modes of Payment. All purchases, cash advances, fees and charges shall be paid by the Cardholder,
Supplementary Cardholder(s) and/or co-obligor in cash or check directly with CBC branches, or other CBC
authorized payment centers, or available channels such as Automated Teller Machines (ATM), phone banking and
other applicable internet facilities on or before the Payment Due Date indicated in the SOA without necessity of
demand.

An Automatic Debit Arrangement (ADA) may also be made in case the Cardholder, Supplementary Cardholder or
co-obligor has a Current or Savings deposit account with CBC. The Cardholder may opt to authorize in writing, the
Bank to charge the amount due from his/her Credit Card Account against his/her deposit account or any funds
with CBC by means of Automatic Debit Arrangement.

In the event of default because of non-payment through ADA, the Cardholder is held responsible in ensuring that
payment is made to his/her Credit Card immediately. CBC, at its sole discretion, may also debit the Cardholder’s
CBC deposit account at any time that funds become available. Necessary fees and charges shall apply.

Checks shall be considered as payment only upon its clearance and availability of funds in accordance with usual
transit/clearing schedules for local and outstanding credits net of charges from drawee bank and CBC's own
charges.

9. Card Payment. The Cardholder shall be liable to pay the Statement Balance on or before the Payment Due Date
as shown in the monthly SOA given to the Cardholder. The Cardholder, however, shall have the option to pay: (i)
the Statement Balance; (ii) the Minimum Amount Due; (iii) or any amount in between the Statement Balance and
Minimum Amount Due. In any event, the Cardholder must pay at least the Minimum Amount Due, which CBC must
receive as cleared funds on or before the Payment Due Date.

Minimum Amount Due is computed as percentage of Statement Balance or fixed Peso amount, whichever is
higher, and any amount in excess of your credit limit.

The Payment Due Date may be changed to an earlier date if the Cardholder’s Credit Card Account is considered
overdue and/or with balances in excess of the credit limit, or to such other date as may be deemed proper by CBC
with notice to the Cardholder on the same monthly SOA. Should the Payment Due Date fall on a Saturday, Sunday
or non-working holiday, the payment shall be due on the next banking day. The Cardholder agrees to pay any and
all purchases, availments and cash advances on his Credit Card notwithstanding the absence or lack of proof of
service of the SOA on the Cardholder within thirty (30) calendar days from actual date(s) of purchase, availment or
cash advance.
10. Application of Partial Payment. In case of partial payment of the Credit Card balances, the same shall be
applied to the Credit Card Account in the following order:
a. Retail Finance Charge billed;
b. Annual Membership Fee billed;
c. Late Payment Penalty Charge and other applicable fees billed;
d. Retail Transactions billed (including installments);
e. Unbilled Retail Finance Charges;
f. Unbilled Annual Membership Fee;
g. Unbilled Other Fees and Charges;
h. Unbilled Retail Transactions (including installments)

11. Foreign Exchange Transactions. CBC shall automatically convert all charges, advances or amounts arising from
transactions denominated in foreign currency to Philippine Peso using the foreign exchange buying/selling rate of
Mastercard on transaction posting date. The billing currency amount represents the amount due to CBC for its
purchase and payment on the Cardholder’s behalf of the foreign currency necessary to discharge the amount(s)
due to Mastercard or the acquiring bank and/or foreign merchant affiliates. Transactions made in foreign
currencies will be subject to Foreign Transaction Fee as set by CBC which may be comprised of Mastercard’s
Assessment Fee and Foreign Currency Conversion Fee. The same shall apply to transactions executed in Philippine
Peso, but processed by foreign acquirers, whether online or via POS terminal, in the Philippines or abroad.

12. Finance Charges. If the Cardholder opts to pay the Minimum Amount Due or any amount less than the
Statement Balance, the Cardholder shall be deemed as availing against his/her Credit Limit with CBC and agrees to
pay the corresponding Finance Charges on all obligations using the applicable Finance Charge rate depending on
the Card type, and other applicable charges, plus any applicable taxes and charges required by the government on
such charges. The Finance Charge, at CBC’s prevailing rate, will be levied using the Daily Interest Balance Method,
as follows:
 Cardholder’s Previous Statement Balance as reflected in the Current SOA; plus
 Fees and Charges reflected in Current SOA accruing from their posting dates until Current Statement
Date; less
 Payments and credits posted during the Current SOA, accruing from their payment transaction dates until
Current Statement Date.

Any amount unpaid as of the Payment Due Date shall be deemed payable on the next billing cycle unless the
Cardholder opts to re-avail of his/her Credit Limit for the next billing cycle by paying an amount less than the
Statement Balance but not less than the Minimum Amount Due. Finance Charge rates may change and shall be
advised from time to time.

13. Overpayments. Overpayments shall be applied to succeeding Credit Card usages and charges. No refund shall
be given on any remaining credit balance. Should a refund be requested, CBC may impose applicable refund fees.
In case of overpayments on closed accounts, a Monthly Account Maintenance Fee, in such amount as may be fixed
and announced by CBC, or amount equivalent to the credit balance, whichever is lower, shall be charged until the
credit balance is zeroed out. Overpayments shall not earn interest.

14. Late Payment Fee. If the Cardholder fails to pay at least the Minimum Amount Due, or has an unpaid portion
of the Minimum Amount Due, on or before the Payment Due Date, Cardholder will be subject to a Late Payment
Fee, apart from other applicable charges and taxes, which will be reflected in the next cycle’s SOA. Late Payment
Fees are computed based on the unpaid Minimum Amount Due or set at a fixed amount, whichever is lower.
However, should the Bank decide to cancel the Cardholder’s Credit Card Account, Late Payment Fees may be
computed based on Cardholder’s total outstanding obligation. Any unpaid Late Payment Fees shall form part of the
principal balance and will continue to earn Finance Charges and, when applicable, Late Payment Fees.
15. Dishonored Check Payments. In the event of dishonor of check payments, the prevailing Returned Check
Fee plus applicable actual bank charges shall be imposed. The imposition of said charges shall be without
prejudice to the right of CBC to prosecute the check drawer/issuer for violation of penal laws, to consider all
charges due and demandable; and to suspend or terminate the Credit Card or Supplementary Credit Cards.

Further, CBC reserves the right to re-deposit the dishonored checks, such as but not limited to, checks Drawn
Against Uncleared Deposit (DAUD), Drawn Against Insufficient Funds (DAIF), and/or Post Dated Checks (PDC),
within a reasonable period of time, and without need of prior consent of the Cardholder.

16. Events of Default. The Cardholder shall be considered in default under any of the following events:
a. Failure of the Cardholder to pay at least the Minimum Amount Due on the Payment Due Date in any of
their obligations on one or more Credit Cards.
b. Cardholder exceeds the credit limit.
c. Cardholder fails to comply with the Terms and Conditions of this Agreement or any agreement governing
the issuance and use of the Credit Card/s, without limitation, the Cash Advance, Installments, Balance
Transfer and other future promotions.
d. The Cardholder fails to observe any of the terms and conditions of any contract or evidence of
indebtedness and/or other related documents which the Cardholder executed, or were otherwise issued
by CBC, or another financial institution or other lenders, in connection with any credit and loan facilities
granted in favor of the Cardholder.
e. CBC reserves any legal actions against the Cardholder, his/her business(es), money(ies), property(ies) or
asset(s).
f. Cardholder applies for voluntary relief or shall be subject to involuntary relief under insolvency or
bankruptcy laws.
g. Bank has reasonable ground to believe that any information, representation, or warranty made by the
Cardholder during the application of the Credit Card was incorrect, misleading, and untrue.
h. Supplementary Cardholder and/or co-obligor, is involved in litigation, the contingent and accrued liability
of which would materially and adversely affect the Cardholder’s financial stability or ability to perform
obligations under the Agreement.
i. Cardholder is charged in a criminal suit or under investigation by a competent agency for violation of law.
j. Bank has reasonable ground to believe that the prospect of payment of the Cardholder’s obligation on his
Credit Card Account is impaired as shown by Cardholder’s default in his/her other obligations to the Bank
under any credit accommodation, sudden sale of Cardholder’s property(ies) or asset(s), or default in any
of his obligations to other banks or third parties.
k. Cardholder acted fraudulently with gross negligence in the use of his Credit Card.
l. Card has prima-facie evidence of Cardholder’s violation of the Access Device Regulations Act of 1998.
m. Cardholder dies or becomes physically or mentally incapacitated.

17. Effects and Consequences of Default

17.1 If an Event of Default shall occur, then at any time thereafter, CBC may declare that the Statement Balance
and all other outstanding obligations of the Cardholder shall become immediately due and demandable without
need of notice or demand. CBC reserves the right to accelerate the Cardholder’s deferred charges as a
consequence of default. In case the Cardholder shall have more than one (1) Credit Card Account with CBC, the
default in one shall automatically be considered as a default in the other account(s). At whichever case, CBC
reserves the right to terminate the use of all the Credit Card privileges of the Cardholder for all his Credit Card
Accounts with CBC. The Cardholder, Supplementary Cardholder(s) and/or co-obligor hereby give CBC a general lien
upon, and/or right of set-off, and/or right to hold and/or apply to the obligation herein all rights, titles and
interests in and to the balance of every deposit account, now or anytime hereafter existing, with CBC, its agents or
any of its branches, subsidiaries or affiliates and in and to all money, negotiable instruments, commercial papers,
notes, bonds, stocks, dividends, interests, credits, chooses in action claims, demands, or any interests in any
thereof, and in any other property, rights and interests or any evidence thereof, which have been or at any time
shall be delivered to, or otherwise come into the possession, control or custody of the CBC, for any purpose,
whether or not accepted for the purpose(s) for which they are delivered or intended.

In any event of default, the Cardholder authorizes CBC to report and/or include his name in the negative listings of
any government agency, credit bureau or institution or other banks, credit card companies or financial institutions.

As soon as the Credit Card Account becomes past due, the Cardholder, Supplementary Cardholder(s) and/or co-
obligor, agree to the assignment or transfer of part or all of the obligations to the successors or assigns of CBC
without need of prior notice to and consent of the Cardholder, and Supplementary Cardholder(s) and/or co-
obligor, if any.

17.2 Power of Attorney. Upon occurrence of any event of default or any breach of the Terms and Conditions
hereof, the Cardholder, Supplementary Cardholder(s) and/or co-obligor, hereby appoint CBC as their irrevocable
Attorney-in-Fact, with full power of substitution/delegation to sign and endorse any and all documents and
perform any and all acts and things required or necessary in the premise. The Cardholder hereby ratifies and
confirms all acts and deeds as may be done or performed by CBC under this authority.

17.3 Offsetting. Cardholder agrees that upon his default, CBC may, as his Attorney-in-Fact, in its absolute
discretion and without notice, offset the obligations against any of the Cardholder’s deposits, money market/ trust
placements, stocks, bonds, and other assets coming to the custody, control or possession of CBC or its branches,
subsidiaries, and affiliates, whether singly or jointly held, pursuant to Articles 1278 to 1290 of the New Civil Code
of the Philippines, as amended. The Cardholder hereby authorizes and irrevocably constitutes CBC as his Attorney-
in-Fact with full power and authority to inquire about and assert CBC’s lien or legal claim on the Cardholder’s
deposits, money market/ trust placements, stocks, bonds, and other assets coming to the custody, control or
possession of CBC or its branches, subsidiaries, and affiliates and to apply all or part of the deposits, money
market/ trust placements, stocks, bonds, and other assets to offset the obligations of the Cardholder. Pursuant to
the authority granted to CBC herein, Cardholder expressly authorizes the disclosure by CBC’s branches,
subsidiaries, and affiliates of any information related the funds and properties of the Cardholder in their custody in
favor of CBC. In the event that any funds of the Cardholder are held by CBC, CBC reserves the right to maintain the
said funds until all unpaid obligations are fully settled. If there are unpaid obligations under the Credit Card, CBC is
authorized by the Cardholder to automatically apply the said funds to the settlement of unpaid obligations. CBC is
not precluded from availing of other remedies in case the funds are insufficient to settle the said obligation.

18. Other Provisions

18.1 Ownership, Validity, Expiry and Renewal of the Credit Card. The Credit Card is the sole property of CBC and
is non-transferable. It shall be valid from the date of its issuance or renewal until the last day of its indicated expiry
month. CBC may, at its sole discretion and without prior notice to the Cardholder, suspend, cancel, withdraw or
terminate any Credit Card issuance and/or its privileges at any time and for whatever reason.

In these cases, the Cardholder and/or Supplementary Cardholder(s) agree to surrender the Credit Card and/or
Supplementary Card(s). Otherwise, the same shall be confiscated by any of CBC’s accredited establishments for
immediate surrender to CBC. Moreover, all purchases/installments, cash advances, and charge become
immediately due and demandable without need of notice. The Cardholder and/or Supplementary Cardholder(s)
hereby hold CBC harmless from any liability arising from such acts.
The Cardholder and/or Supplementary Cardholder shall not use the Credit Card after its expiry date, cancellation,
suspension, termination, withdrawal, or permit other persons to use the Credit Card for any reason whatsoever.
Continued use of the Credit Card thereafter shall be considered as a fraudulent act of the Cardholder.

Renewal of the Credit Card will be the sole discretion of CBC. CBC can change the Credit Card number and/or
expiry date when issuing a renewal or replacement card to the Cardholder or Supplementary Cardholder(s). The
Cardholder and/or Supplementary Cardholder(s) is/are solely responsible for communicating this change to any
party with whom the Cardholder may have payment arrangements. CBC shall not be responsible for any
consequence arising from declined transactions, whether under the old card number or otherwise.

18.2 Discretions. Without giving any reason or notice, and without prejudice to the other provisions hereof, CBC
has the full discretion (a) to disapprove any proposed Credit Card transaction even if there is sufficient credit
available; (b) to suspend, terminate, or cancel the Cardholder’s and his Supplementary Cardholder(s) right to use
the Credit Card; (c) to increase or decrease the credit limit; (d) to refuse to re-issue, renew or replace the Credit
Card and/or (e) to introduce, amend, vary, restrict, terminate or withdraw the benefits, services, facilities and
privileges with respect to or in connection with the Credit Card Account, whether specifically relating to the
Cardholder or generally to all or specific Cardholders.

CBC shall not be responsible if it does not approve a purchase, cash advance, installment or any other Credit Card
Transaction, on the Credit Card Account of the Cardholder even if there is sufficient credit limit available. Neither
shall CBC be responsible if the merchant does not accept or honor the Credit Card, even if there is sufficient credit
limit available.

CBC may limit the number and/or amount of purchases, cash advance or other Credit Card Transactions which may
be approved in one day. If CBC detects any unusual or suspicious activity on the Credit Card Account, CBC may
require the Cardholder to contact CBC or temporarily suspend the Cardholder’s Credit Card privileges until CBC has
verified the activity. CBC may likewise approve purchases, cash advance or other Credit Card transactions, which,
in the aggregate, cause the balance to exceed the credit limit without waiving any of CBC’s rights hereunder.

18.3 Promotional Offers. On occasion, CBC may inform the Cardholder about its promotional offers through
mail/email/fax/SMS or by telephone. CBC may also allow its branches, subsidiaries, affiliates, agents and
representatives and third parties selected by any of them and certain companies to offer specially selected
products and services to the Cardholder through mail/email/fax SMS or by telephone. For this purpose, CBC
transfer and disclose selected customer information to its branches, subsidiaries, affiliates, agents and
representatives and third parties selected by any of them and certain companies. Conformity to these
Conditions shall constitute the Cardholder’s written consent for any transfer and disclosure of information the
Cardholder’s name, address, contact details and other relevant information to CBC’s subsidiaries, affiliates, agents
and representatives and third parties selected by any of them and certain companies for the purposes indicated
above and under applicable laws and regulations.

18.4 Blocked Credit Card. CBC reserves the right to automatically block the Credit Card if CBC has reason to believe
that the Cardholder’s Credit Card may have been acquired in a fraudulent manner, may have been used
fraudulently or may be in the possession of an unauthorized party, or may have been used in any fraudulent or
suspicious transactions or by an unauthorized person. CBC may, but does not have the obligation, to inform the
Cardholder prior to suspending or blocking the Credit Card pursuant to this section. The Cardholder acknowledges
CBC’s authority to block the Credit Card, and Cardholder shall hold CBC free and harmless against any and all
consequences of such suspension or blocking, or any loss or damage which the Cardholder may suffer as a result
thereof.
18.5 Lost or Stolen Credit Card. In the event the Credit Card gets lost or stolen, the loss or theft must immediately
be reported through the China Bank Customer Service Hotline at +632 888-55-888. The Cardholder, Supplementary
Cardholder(s) and/or co-obligor shall continue to be liable for all usages prior to CBC’s receipt of advice of the fact
of the card’s lost or theft, including but not limited to, fraudulent transactions and/or forged signature by any
person. A card replacement fee, as CBC may advise or announce, shall be charged to the Cardholder to cover the
replacement of the Credit Card(s) and the costs in disseminating information about the loss or theft. The
Cardholder’s liability for all purchases and/or cash advances made through the use of the lost or stolen card(s) will
cease only upon verbal notification to and actual recording thereof by CBC. The replacement card will have a new
credit card number.

18.6 Dishonor of Credit Card/Defective Purchases. The Cardholder, Supplementary Cardholder(s) and/or co-
obligor, agree to hold CBC, its officers and employees free and harmless from any liability arising from the failure
of any accredited establishment, CBC or third-party merchants, to honor the Credit Card or from the defect of or
flaw in any merchandise or services purchased/obtained. The Cardholder, Supplementary Cardholder(s) and/or co-
obligor’s liability to CBC is absolute, and existence of any dispute with any accredited establishment shall not, in
any manner, affect their outstanding obligations.

18.7 Taxes, Fees and Expenses. Any and all taxes, fees and expenses which may be due or payable in connection
with the Credit Card or any credit facilities granted by CBC in connection therewith is for the sole account of the
Cardholder, Supplementary Cardholder(s) and/or co-obligor, if any.

18.8 Endorsement to Collection Agencies. Should the account be referred to an agency/agent for collections, CBC
shall notify the Cardholder and/or the Supplementary Cardholder(s) in writing at least seven (7) calendar days prior
to the actual endorsement of the Cardholder's account to the Collection Agency/Law Office the name(s) and
contact details of the collection agencies/agents to whom the account(s) is/are endorsed. The same period shall be
observed in case the account is transferred from one collection agency/agent to another. Written notification shall
be sent/ delivered to the latest reported mailing address and/or electronic mail address. The Cardholder and/or
Supplementary Cardholder(s) agree(s) that the endorsement to collection agencies/agents stated in the SOA shall
suffice to comply with this requirement.

In case it is necessary to collect the total obligations through an attorney-at-law or collection agency, the
Cardholder, Supplementary Cardholder(s) and/or co-obligor, jointly and severally, shall pay the percentage of the
amount due as set and announced by CBC, as attorney's or collection fees, in addition to cost and other litigation
expenses.

18.9 Disclosure of Information. Cardholder consents and agrees that CBC may acquire, process, retain, share,
transfer, disclose, communicate and exchange any information relating to the Credit Card Accounts, or any of the
Card Member’s properties or investment with CBC to persons other than the Cardholder as may be deemed
necessary by CBC for approval of his Credit Card application and transactions, references, referrals, cross-selling,
customer satisfaction surveys, product and services offers made through mail/e-mail/fax/SMS or telephone, data
processing and storage, and for collection in the event of default arising from non-payment of his Credit Card
obligations with CBC.

CBC and any of its branches, subsidiaries, affiliates, agents and representatives, and third parties selected by any of
them, wherever situated, may transfer, disclose, communicate and exchange Cardholder’s information as may be
required by law, regulation, court, regulator, or legal purpose, whether within or outside the Philippines, for the
fulfillment of the transactions authorized by the Cardholder in connection with CBC’s service and these Terms and
Conditions:
 to the Credit Information Corporation (CIC), credit information companies, credit bureaus, financial
institutions, banking and credit industry associations, credit protection provider or guarantee institutions,
brokers, payment schemes, insurers, and underwriters;
 to any judicial, governmental, regulatory or supervisory body of the Philippines including reporting under
the Foreign Account Tax Compliance Act (FATCA);
 to representative, agents or service providers outsourced by CBC, whether within or outside the
Philippines, to perform data processing, collection, consolidation, storage and other services in fulfilling
the products, features and benefits, services, and facilities; and
 to such other persons or entities that CBC or the Credit Entities, or the representative, agents or service
providers outsourced by CBC may engage with to fulfill any or all services in these Terms and Conditions

The Cardholder agrees to hold CBC free and harmless from any liability that may arise from any such acquisition,
processing, use, transfer, sharing, exchange, disclosure, retention, or storage of information relating to him and/or
any of his accounts, properties or investments with CBC.

For complete reference on the Data Privacy Act and rights as data subject, visit the National Privacy Commission
Website at https://privacy.gov.ph.

18.10 Assignment and Waiver. The Cardholder agrees that CBC may assign, discount or otherwise transfer part or
all of its rights and/or obligations under any card transaction, including the assignment of receivables, together
with any hold- out agreement and other accessory contracts, to affiliates or other parties without notice to the
Cardholder. In the event of such assignment, the Cardholder hereby irrevocably agrees not to assert against the
assignee set-off rights of any obligations, which may be owed by CBC to the Cardholder.

18.11 Cardholder Instructions. The Cardholder authorizes CBC to rely upon and act in accordance with any notice,
instruction or other communication, which may, from time to time, or purport to be, given by telephone, mobile
phone, text messages, telex, facsimile, e-mail or other electronic means, by the Cardholder or on his behalf, which
CBC believes, in good faith, to have been made by the Cardholder or upon his instructions or for his benefit. CBC,
however, reserves the right to require the instructions to be contained or sent in a particular form or to have the
instructions confirmed before it may decide thereon. CBC shall be entitled to treat the instructions as fully
authorized by and binding upon the Cardholder and to take such steps in connection with or on reliance upon the
instructions as CBC may consider appropriate. CBC and its representatives and assigns shall not be liable in the
event that the Cardholder suffers any loss or damage as a result of personal information sent through such means
upon what CBC believes to be the instructions of the Cardholder after utilizing its standard verification process.

18.12 Updating of Information. The Cardholder undertakes to notify CBC, through its China Bank Customer Service
Hotline or by writing, of any additional means of communicating to him aside from what is disclosed in the Credit
Card application, as well as any change in the Cardholder’s information such as but not limited to his address,
home, office or billing address, e-mail and telephone number.

In case the billing is not accessible through mail or delivery, CBC has the option to use other addresses notified to
CBC. Notwithstanding this provision, the Cardholder agrees that any communication sent to the designated billing
address shall be considered as received by the Cardholder within ten (10) calendar days after mailing.
CBC shall not be responsible for the consequences of the Cardholder’s inability to receive his SOA or pay his
outstanding obligations under the Credit Card as a result of his failure to notify CBC of the change in his billing
address or other Cardholder’s information.

CBC reserves its right to block the Cardholder’s Credit Card if he leaves the Republic of the Philippines to take up
long term or permanent residence elsewhere. All issued Credit Cards shall be returned to CBC fifteen (15) days
prior to the Cardholder’s departure. The Credit Card shall be deemed terminated and subject to immediate
payment in full by the Cardholder to CBC of all outstanding balances, obligations, and availments, posted
otherwise, under the Credit Cards.

The Cardholder, pursuant to such undertaking, authorizes CBC, at its discretion but without obligation to do so, to
secure information from third parties, and receive information on how the Cardholder can be contacted.
Should the Cardholder be in default, CBC reserves its right and the Cardholder authorizes CBC, at CBC’s sole
discretion but without any obligation to do so, to pursue all means of communicating with the Cardholder,
including without limitation, telephone messages, fax messages, mobile phone text messages, electronic mail, and
other third party inquiries, to establish contact with the Cardholder.

18.13 Telephone Communications. The Cardholder agrees that by calling or accepting calls from CBC or any of its
telesales providers, CBC or the telesales provider may, at its sole option and discretion, record all the Cardholder’s
telephone communications. The Cardholder, likewise, agrees that such taped or recorded communications may be
used by CBC or any third party, for any purpose, particularly as evidence in any proceeding, judicial or
administrative. The Cardholder likewise agrees that such tapes or recorded instructions may be used by CBC or its
Telemarketing Service Provider against the Cardholder or any third party, or replayed or communicated to any
third party. The Cardholder further agrees to waive any right under R.A. No. 4200, otherwise known as the Anti-
Wire Tapping Act or any amendments thereto, or any similar law or regulation.

18.14 SMS Communications. The Cardholder agrees that the SMS Communications may be made available on all
Eligible Credit Card Accounts with CBC, whether opened now or in the future. The Cardholder understands that the
SMS Communications cannot be used on certain specified types of Credit Card Accounts; however, CBC will advise
the Cardholder from time to time as such Credit Card Accounts become eligible, in which event they shall be
classified as Eligible Credit Card Accounts. The Cardholder may cancel the SMS Communications at any time by
calling China Bank Customer Service Hotline (or in any manner as CBC may notify from time to time), subject to the
payment of applicable fees and charges.

The Cardholder hereby agrees that CBC may send or communicate through text messages or through the
Cardholder’s SMS- enabled cellular phone for specific and timely prompts, reminders and notices from time to
time concerning account information, internet security, and other matters relating to the Credit Card. The
Cardholder hereby acknowledges and accepts that each SMS may be sent to the Cardholder without being
encrypted and may include the Cardholder’s name and information pertaining to the Cardholder’s Credit Card
Account. It is the Cardholder’s responsibility to ensure the security of his mobile phone and the Cardholder hereby
holds CBC free and harmless against any and all liability, administrative, civil, or criminal, including but not limited
to, those relating to any secrecy laws or regulations (if any), should any SMS be viewed or accessed by any persons
other than the Cardholder. The Cardholder agrees that CBC does not guarantee the timely delivery or accuracy of
any SMS, which are purely for convenience, information and notification purposes only. The Cardholder shall be
fully responsible to monitor the due performance and compliance of his obligations.

18.15 Electronic Notification. Notifications sent by CBC to the Cardholder through mobile phones, facsimile, e-mail
or other electronic means (except SMS/text messaging, which has been covered by preceding clause) using the
number and address of record shall be deemed to have been sent to the Cardholder himself. As such, the
Cardholder hereby declares, CBC free and harmless from any liability if the information contained in the electronic
notification is, by any means, accessed by any person other than the Cardholder.

18.16 Agreement to be bound by applicable and relevant laws. The Cardholder unconditionally agrees to be
bound by any and all laws, rules, regulations and official issuances applicable to the matter now existing or which
may herein after be enacted, issued and enforced as well as the Terms and Conditions governing the use of the
other facilities, benefits or services which may from time to time be made available by CBC to the Cardholder in
connection with the Credit Card.

18.17 SUSPENSION, CANCELLATION AND WITHDRAWAL OR TERMINATION.

a. Suspension, Cancellation or Termination by CBC. CBC may at its full discretion to and without prior notice
to the Cardholder, suspend, cancel and withdraw or terminate any Credit Card issued and/or privileges at
any time for whatever reason including without limitation the Cardholder’s default, non-payment,
financial incapacity, change in personal and/or economic circumstance, residency status, or country or
territory of stay, failure to provide additional documents requested by CBC, misrepresentation or fraud. In
such cases, any outstanding credit availments as of the time of the suspension or termination shall be
considered immediately due and demandable without need of notice to the Cardholder. CBC, at its sole
discretion, may initiate collection from the Cardholder of the closing balance all unposted availments in
full, and/or refer collection to a third party. The Cardholder agrees to hold CBC free and harmless from
any claim of damages arising from such termination, withholding or suspension. Continued use of the
Credit Card after termination or cancellation is deemed fraudulent. CBC reserves the right, at its sole and
full discretion, to restore the Credit Card and/or its privileges, whether or not the circumstances giving
rise to the suspension, cancellation, withdrawal or termination have ceased or have been rectified. The
Credit Card shall be terminated by CBC without prior notice upon death, bankruptcy or insolvency of the
Cardholder or when the whereabouts of the Cardholder become unknown to CBC.

b. Termination by Cardholder. Termination shall be processed only upon notification by the Cardholder by
telephone, telex, facsimile or other means of communication of his intention to terminate his
membership and the full settlement of his Credit Card Account including all enrolled bills. Cancellation of
all the Cardholder's enrolled bills with the corresponding merchants is the Cardholder's sole duty. The
total outstanding balance of the Cardholder will be demandable in full including balance transfer
transactions, cash loans transactions, other installment plans including applicable fees and charges (such
as the annual fee charges).

18.18 For U.S. Persons and those with U.S. Person Indicators. The Cardholder agrees that the Bank may block any
payment or transaction on your account that will result in the Bank, any of our affiliates or our/their third party
service provider, or any Payment Infrastructure provider being in breach of any requirement under the Foreign
Account Tax Compliance Act (FATCA). Moreover, the Cardholders agrees that the Bank, any affiliate, or our/their
third party service provider may withhold or deduct an amount for any applicable tax (withholding, income, value-
added, or tax on the sale or disposition of property), duties, or other lawfully collected amounts which are
required to be withheld or deducted to comply with any law or regulation of any domestic or foreign jurisdiction,
or any agreement entered into with or between any Governmental Authority/ies from any payment to you, or
from your account or any account.

18.19 Revision of Terms and Conditions. Upon written notice to the Cardholder, via SOA or separate
correspondence, CBC may, at any time and for whatever reason it may deem proper, amend, revise or modify the
terms and conditions hereof, including the Cardholder’s credit limit, upon reasonable notice, and such
amendments shall bind the Cardholder unless he objects thereto by manifesting his intention to terminate this
agreement subject to the conditions set forth in Clause 20.18 (b)(Termination by Cardholder). Any amendment,
revision, or changes in the terms and conditions made, as provided above shall likewise be binding on the co-
obligor (if any), who hereby irrevocably and unconditionally waives his right to consent thereon or notification
thereof.

18.20 Limitation of Liability. In any action arising from this Agreement or incidental thereto, which the Cardholder
or any party on his behalf may file against CBC, CBC’s liability shall not exceed the amount of PESOS: One Thousand
(P1,000.00) or the actual damages proven, whichever is lower.

18.21 Documentary Requirements. Cardholder shall provide CBC with copies of additional or updated documents
that CBC may reasonably require from time to time including but not limited to Cardholder's latest Income Tax
Return (ITRs) and or BIR Form.

18.22 Governing Law. These Terms and Conditions are governed by and shall be construed in accordance with the
laws of the Republic of the Philippines such as, but not limited to Republic Act 8484 or the Access Devices
Regulation Act of 1998, Republic Act 1405 or Law on secrecy on Bank Deposit Act, Republic Act 4200 or the Anti-
Wire Tapping Act, Republic Act 10173 or the Data Privacy Act and Republic Act 386.

18.23 Venue of Actions. Cardholder irrevocably agrees that the venue of all legal action, suits or proceeding
directly or indirectly arising from this instrument or from the relationship between CBC and the Cardholder or
Supplementary Cardholder(s), and/or co-obligor, shall be limited to the proper Courts of Makati City. The
foregoing, however shall not limit the right of CBC to commence proceedings or to obtain execution of judgment
against Cardholder in any venue or jurisdiction where assets of the Cardholder may be found.

18.24 Waiver of Breach of Contract. No waiver of a breach or violation of any term or condition hereof shall
constitute a waiver of any subsequent breach or violation of the same or any other term or condition. Failure to
take advantage of or to exercise any right granted hereunder shall not constitute a waiver of said right, nor shall it
be construed to excuse or absolve the Cardholder, Supplementary Cardholder(s) and/or co-obligor from complying
with or fulfilling the same.

18.25 Binding Effect. These Terms and Conditions shall bind the parties, their heirs, executors and administrators,
as well as their successors and assigns. It is understood that this application/transaction is not insured by the
Philippine Deposit Insurance Corporation (PDIC).

18.26 Separability Clause. Should any of the Terms and Conditions or any part or clause of this instrument be
declared void or unenforceable by competent authority, the same shall not invalidate the other terms and
conditions, parts or clauses of this instrument.

18.27 Acceptance. All the terms and conditions herein stated, including the Terms and Conditions in separate
documents for Cash Advance, Balance Transfer, and all other programs, Schedule of CBC Credit Card Fees and
Charges, and any amendments thereto, have been read and fully understood by the Cardholder as evidenced by
the Cardholder’s signature either on the application form, acknowledgement receipt, or the physical Credit Card,
and/or other forms of documents evidencing charges to the Credit Card, or when the Cardholder retains or uses
the Credit Card. Cardholder shall be responsible in informing the co-obligor (if any) of these Terms and Conditions.
For concerns, call China Bank Customer Service Hotline at +632 888-55-888, currently available daily from 7:00 A.M. to
7:00 P.M. China Bank is regulated by the Bangko Sentral ng Pilipinas (BSP) with e-mail address
[email protected]. BSP Online Buddy (BOB) may be accessed via BSP Webchat (http://www.bsp.gov.ph/),
SMS (021582277 for Globe subscribers only), and Facebook (https://www.facebook.com/BangkoSentralngPilipinas/).
All complaints/concerns/inquiries will be evaluated/assessed thoroughly and resolution and feedback will be provided
within the applicable timelines set by the Bank.