Contract pentru deschiderea unui cont escrow

Section IV

The Total Cost: Interest, Commissions and charges

The total cost of the contract consists of interest, fees, other fees and charges still determined as follows:

A. Interests
Art.29. Customer Notification; Interest calculation on current accounts

29.1. Bank interest payable by customers for banking services and products, including those covered by contracts signed by the Customer and the Bank will be calculated according to the express provisions of each contract.

29.2. Bank interest due to Customer at the time of the present agreement for Client's current accounts opened with the Bank is:

• 
        for accounts in RON;
  
• 
        for accounts in EURO;
  
• 
        for accounts in USD;
  
• 
        for accounts in GBP.
  

The interest rate shall be calculated using the following formula: d = S x n x r% / 360- RON, EURO and USD and using the formula d = S x n x r% / 365 for GBP (d = interest calculated, S = account balance, n = number of days, r% = interest rate of the currency in which the account was opened). Interest is calculated on daily balance, based on actual days elapsed, reported to 360 days (RON, USD, EURO) or reported to 365 for GBP and paid in the currency of the account to which it is calculated (e.g. in RON for the RON account).

29.3. Interest calculation method mentioned above will apply accordingly to any process involving a calculation of interest due to the customer except that a different calculation method, agreed in writing between the Bank and the Customer through another document is established.
29.4. The Bank will credit Customer's account, monthly, at maturity with interest due to current account or due under the time deposit contract.

29.5. The Bank has the right to change interest rates at any time with notice to the customer, two months before the application.
29.6. The changes of interest rate and exchange rate will be applied immediately without notice if:

1. 
   modification is the benefit of the customer;
   
2. 
   change takes place due to the modification of rate or reference rate, if applicable reference rates (for interest and currency);
   

The new interest rate or exchange rate will become applicable immediately and without any prior notice from the moment of displaying them at the counters or on the website of the Bank.

29.7. The Bank shall notify Customer of any interest rate adjustment according to art. 29.5. above. Customer has the right to one-side dissolution the present Framework Contract with 30 days' notice without charge.
B. Commissions
Art 30. The Bank’s tariffs for products and services are set out in the “Tariffs, Terms and Conditions” issued by the Bank and updated from time to time (Art. 65 of the present agreement). If a Customer makes use of a service listed therein and if no other agreement has been made between the Bank and the Customer, the charges stated in the “Tariffs, Terms and Conditions” (appendix to the present framework agreement) as valid at that time are applicable.
C. Others Fees and Charges
Art.31. Along with the usual agreed interests, tariffs and commissions, the Client will bear all extraordinary expenses, especially the postage and postage stamp fees, the legal fees, the judicial post, the taxes, the cost inherent to the insurance and legal representatives, the cost of phone communications, fax as well as the postage fees paid during the business relationship. The Bank can collect all these amounts separately or in one instalment and if necessary to offer a detailed situation of the expenses.

Art.32. The Bank is entitled to change the interest rates, the commissions, the fees and taxes in compliance with the laws in force according to the agreements concluded with the Client.
Art.33. Any changes regarding the commissions, fees and taxes will be brought to the Client’s attention at least two months before their date the changes enter into force.

Art.34. The Client will ensure that he has the available balance to pay the interests, commissions and fees levied by the Bank in the manner agreed and made public by the Bank.


Art.35. The Bank is entitled to debit the Client’s account with the amounts representing the commissions associated with the operations/ documents received from/for the Client based on a prior notification from the Client. If this is not possible, the Bank has the right not to perform operations and return the documents.
Art 36. The Client will fully requite the Bank for any costs, expenses and other obligations that the Bank has to bear in case of judicial and extrajudicial procedures, in case the Bank becomes part of the legal procedures and lawsuits between the Client and a third party.
Art.37. All commissions and fees shall be calculated using the Bank’s available exchange rates on the date the account is debited.
Art.38. Any amount payable by the Client to the Bank according to the present Framework Agreement” can be debited from any of the Client’s account.

Section V

Security for the Bank’s Claims towards the Customer

A. Providing or increase of security
1. Right of the Bank to request security

The Bank may request that the Customer provide a security for any outstanding obligations that may arise even if such outstanding obligation is conditional (e.g. the Bank may request a security for a commitment to pay under a guarantee issued on behalf of the Customer).

2. Changes of the risk

If the Bank did not make initially use of its right to request, wholly or partially, for a security to be provided or increased, it may however make such demand at a later time, if the Bank considers that there is an increased risk, in cases as follows:

• 
  the financial performance of the Customer worsen or threatens to change in a negative manner, or
  
• 
  the value of the existing security has deteriorated, or threatens to deteriorate.
  

The Bank has no right to demand a security if it had been expressly agreed that the Customer either does not have to provide any security or must only provide that security which has been specified. However, the Bank may request for a security to be provided or increased in any other case, even if the loan agreement does not provide any or any exhaustive reference as to the security.

3. Setting a time period to provide an increased security

The Bank allows the adequate timeframe to be provided with the necessary security, new or additional. If the Bank intends to make use of its right of termination without notice according to section VI.A.41.7 of this document, should the Client fail to comply with its obligation to provide or increase security within such time period, it will notify the Customer by written letter on the consequences before doing so.

B. Pledge in favour of the Bank
1. Agreement on the pledge

The Customer and the Bank agree that the later may accept a pledge on any movable asset, which within the Banking business practice, came or may come into the possession of the Bank. The Bank may also accept a pledge on any claims that the Customer has or may have in future towards the Bank due to the banking relationship (e.g. credit balances).

2. Secured claims

The pledge is intended to secure all existing, future and contingent liabilities of the Customer to the Bank arising from the Banking relationship and to which the Bank with all its offices, irrelevant to the location, is entitled to from the Customer. If the Customer has assumed a liability for another Customer obligation towards the Bank (e.g. as co-debtor), the pledge is not securing the debt resulting from the liability incurred before the maturity of such debt.

3. Exemptions from the pledge

If funds or other assets come at the disposal of the Bank under the reserve that they may only be used for a specified purpose (e.g. deposit of cash for payment of a bill of exchange), the Bank’s pledge does not extend to such assets. The same applies to shares issued by the Bank itself (own shares) and/or securities that the Bank keeps in safe custody for the Customer’s account.

C. Limit of the value of the security and obligation to release
1. Cover limit

The Bank may demand that the security to be provided or increased until the obtainable value of the security equals the total amount of all outstanding obligations arising from the relevant business relationship (“cover limit”).

2. Release

On the Customer’s demand the Bank may, at its sole discretion, release any collateral items as it may choose, provided that the obtainable value of the left security exceeds the Customer outstanding obligations on a more than temporary basis and that the cover limit (see paragraph V.C.1 above) is observed. At the time of selecting the security items to be released, the Bank has to consider the legitimate concerns of the Customer or of any third party having provided security for the Customer’s obligations. To this extent, the Bank is also bound to execute orders of the Customer relating to the items subject to the pledge (e.g. sale of securities, repayment of savings deposits).

3. Special agreements

If for a specific security item the assessment criteria other than the obtainable value, another cover limit or another limit for the release of security have been agreed, such other criteria or limits should apply.

D. Execution of the security – Bank option

In case of realisation, the Bank may choose between several security items.