1. BASIC
a. The Applicant warrants the complete accuracy of the information given upon the application to establish the Card Account and any subsequent communication with the Bank;
b. The Applicant shall not make any payment to any person except the Bank in respect of goods or services with the use of the card;
c. The applicant can issue supplementary card(s)for relative(s) from the first degree.
d. In case of a supplementary card the same rules apply.
e. Applicant and/or beneficiary must not be under 18 years old.
f. The card number, the PIN, the expiry date, the name and the CVC number remain confidential and should not be shared with other parties.
g. Subject to the right of the Bank in its absolute discretion and without prior notice, at any time to withdraw the right to use the card, or to refuse any request for authorization of, any particular card transaction and to publish any such withdrawal or refusal.
h. This agreement shall be governed by the Iraqi and Kurdistan Regional Government Law;

2. USE OF CARD
The card must be signed by the Cardholder immediately on receipt and may only be used:
a. By that Cardholder;
b. Subject to the Terms of Agreement current at the time of use;
c. To obtain the facilities and benefits from time to time made available by the Bank in respect of the use of the Card;
d. For any lawful purpose, including the purchase of goods or services not prohibited by the Iraqi and Kurdish Law;
e. The card is valid for three years and can only be used during the validity period appearing on the Card;
f. The minimum limit of the card will be USD 10000 and the maximum limit will be USD 50000.
g. Within the credit limit in deciding whether this has been exceeded the bank may take into consideration the amount of any card transaction not yet debited and any authorization given by the bank in respect of any prospective Card Transaction;
h. For ATM cash withdrawing and purchase through POS and not for internet use. If internet use is wished, the applicant may open a certain limit (USD 5000) for online transactions. (Please fill out a “Card Status Change” form)

3. FEES AND OTHER CHARGES
a. Details of the joining fee, first year’s subscription fee and charges payable in respect of each Additional Authorized User shall be advised by the bank and paid by the Applicant upon Application for the establishment of a Card Account; the amount of this yearly fee is USD250(Supplementary card fee is USD200).
b. Applicant will pay the Bank a transaction fee of 4% for any cash withdrawal at any ATM.
c. A markup fee of 2.75% will be charged if the transaction currency is other than USD.
d. A revolving percentage of 2.75% will be chargedper cycle (30 days).
e. Per cycle a minimum payment of 5% or USD 100 will be charged (which is more).
f. The applicant receives a grace period up to 45 days. If the payment is not paid on time the bank will charge a fee of USD20. In case this continues for three months the card will be cancelled and the applicant is asked to pay the full remaining amount.
g. If the card was lost, stolen or damaged the bank will collect USD250 for reissuing the card and USD 200 for the supplementary card.
h. For PIN regeneration a fee of USD5 will be charged.

4. TERMINATION
a. The Applicant may terminate this Agreement by written notice to the bank but such termination shall only be effective on the return to the bank of all cards issued on the Card Account, and the payment of liabilities of the Principle Cardholder, under this agreement.
b. If the applicant asks for a refund of the credit balance and/or canceling the card a fee of USD5 will be collected.After 60 days the remaining amount on the account will be refunded.
c. The supplementary card holder cannot ask for a refund of the credit balance.

5. GENERAL
a. The Applicant shall immediately notify the Bank card department, in case of any change of address.
b. Any other facilities or benefits made available to Applicant as such and not forming part of this agreement may be withdrawn at any time without notice;
c. In case of disputing suspicious transaction the Applicant will be responsible for all fees, fines and penalties.