IB CAP Policy - Terms and Conditions

1. Meaning of Words

1.1 "IB CAP Service" or "Online Service" means the service that the Bank provides to users in order to carry out or conduct transactions through the electronic system as specified in the contract.

1.2 "Service User" or "Service User" means a legal entity or individual who has signed as a Service User in the IB CAP service request.

1.3 "Bank" means the Indochina Bank.

1.4 "Company Code" or "User ID" means the code that the Bank sets for service users, even if the user is a juristic person or individual, to use as a password for using the service.

1.5 “User” or “System user” means a person who has the right to use the service which the user designates as a juristic person or a user of the service in the case of an individual.

1.6 “User ID” or “System User Identification Code” means the code that the Bank sets for users to use as a password for using the service.

1.7 "PIN" or "Code" means the code assigned by the Bank to be used as a password for the first time using the service.

1.8 "Password" or "Personal Code" means the code that the user sets to use as a password for using the Service.

1.9 "Terms" means the terms and conditions relating to the Bank's services through the IB CAP Service, including the terms and conditions regarding the Payroll Service. Terms and conditions regarding transfers to the Interbank Ledger (NPS) as well as terms and conditions relating to other services that the Bank may provide in the future.

1.10 "Guide" means examples of how to use the IB CAP Service.

1.11 LAPNet refers to the transnational transaction payment system in Lao PDR under the management of Lao Nor Payment Network Company Limited.

1.12 Salary account means the salary transfer service of the IB CAP product.

1.13 LaPASS refers to the interbank money transfer service system under the management of the Bank of Lao PDR.

2. Conditions of Service Users

2.1 Must have a savings or current account with the Indochina Bank.

2.2 Must be the owner who has the right to order payment or has permission from the account owner who has the right to order payment in the account.

2.3 In the case of the account owner who has the right to order payment and give it to a third party to use the service. There must be a power of attorney from the account holder.

2.4 Must have an email and telephone number that can be used regularly and can be contacted.

2.5 Have an enterprise registration certificate Tax registration certificate Valid investment license (In the case of a juristic person)

2.6 Have basic knowledge in using computers or various communication devices.

2.7 Are 18 years of age or older and are responsible for conducting electronic transactions as required by law.

2.8 Must accept the terms and conditions for using the service and provide accurate and clear information in the bank's service request form.

2.9 Copy of the account owner's identification card. Copy of the identification card of the authorized person and authorized person to sign.

3. Scope and Services of IB CAP

3.1. Transfer money between own accounts Transfer money into any person's deposit account with the Indochina Bank.

3.2. Send an order to the bank to deduct money from the user's deposit account for salary payment (Payroll).

3.3. Partner account (direct credit);

3.4. Domestic interbank money transfer service is the transfer of money into the deposit account of an individual or legal entity with another bank through the LaPASS system or through other service systems provided by the bank. The details of the service are as follows:

• For transferring money into the destination account in KIP or foreign currency. Money can be transferred into the destination account within one business day via the LaPASS system, divided into 2 phases as follows:
  • Transfers of up to 100 million kip (ACH) can be made between 9:00 a.m. - 2:30 p.m. and the money will be credited to the destination account at 2 times: 11:00 a.m. and 2:30 p.m. onwards.
  • Money transfers worth more than 100 million kip (RGTS) can be transferred between 9:00 a.m. and 3:30 p.m. and funds will be deposited into the destination account in the order of the transfer.
• Money transfer transactions on business days but outside of the hours specified above. Funds will be sent to the destination bank the next day and at the time specified above.
• For money transfers on public holidays Funds will be sent to the destination bank on the next day of a public holiday and at the time specified above.
• Only month-end or quarterly accounts. Customers can use the money transfer service no later than 12.00 hrs.

3.5. For year-end accounting holidays of the Indochina Bank Customers will not be able to make interbank money transfer transactions.

3.6. Send an order to the bank to deduct money from the user's deposit account to pay for goods or services (Bill Payment).

3.7. View reports that can be viewed under IB CAP Services

3.8. The Bank will send the Company Code, User ID, and PIN to the User in the manner the Bank deems appropriate, or the user must come to the department/branch of the bank where the user submits the request or any other place as specified by the bank.

3.9. In the event that the bank adds a menu or improves the system to provide better service. The bank will inform users at the appropriate time.

3.10. In transferring money or paying for products or services to other payment agents. Users must check all relevant details themselves, and the bank will follow the user's instructions only.

3.11. Sending documents via email or message that the bank has sent to the user at the user's address given to the bank. It is considered that it has been properly sent to the user.