Common use of Card Transaction Clause in Contracts

Card Transaction. 4.1 The Bank will maintain a Card Account in respect of the Card Transactions. The values of: a) One-Off Drawdown; b) Installment payments; c) All cash advances or other transactions in connection with or effected by the use of the Card (whether or not the Card is physically used by the Cardholder or another Person); and d) All interest, fees, charges, outstanding balance and other sums payable will be debited to the Card Account. 4.2 The Cardholder shall be responsible for all Card Transactions and all costs and expenses whether within or in excess of credit limit/combined credit limit (including, without limitation, legal fees and cost of engaging collection agent(s)) reasonably incurred by the Bank in enforcing this Agreement and/or recovering any sum owed by the Cardholder to the Bank which may be debited to the Card Account. Subject to Clause 6.1 the Cardholder shall pay promptly the New Balance on or before the Payment Due Date or otherwise upon demand by the Bank. The Cardholder’s failure to sign any cash advance drafts will not relieve the Cardholder for liability to the Bank in respect thereof. 4.3 The Bank shall be under no duty to verify the identity of the Person giving any Transaction Instruction purportedly in the name of a Cardholder. In the absence of any notice, the Bank is authorized to act on any Transaction Instruction, which the Bank in good faith believes to have emanated from a Cardholder. In no circumstances shall the Bank be held liable for acting in good faith upon any such Transaction Instruction which is subsequently found to have emanated from an unauthorized Person (and whether or not any cash advance draft or other document was required to be signed in order to issue the Transaction Instruction) and each Cardholder shall remain liable for all charges arising from any such Transaction Instruction.

Card Transaction. ‌ 4.1 The Bank will maintain a Card Account in respect of the Card Transactions. The values of: a) One-Off Drawdown; b) Installment payments; c) All cash advances or other transactions in connection with or effected by the use of the Card (whether or not the Card is physically used by the Cardholder or another Person); and d) All interest, fees, charges, outstanding balance and other sums payable will be debited to the Card Account. 4.2 The Cardholder shall be responsible for all Card Transactions and all costs and expenses whether within or in excess of credit limit/combined credit limit (including, without limitation, legal fees and cost of engaging collection agent(s)) reasonably incurred by the Bank in enforcing this Agreement and/or recovering any sum owed by the Cardholder to the Bank which may be debited to the Card Account. Subject to Clause 6.1 the Cardholder shall pay promptly the New Balance on or before the Payment Due Date or otherwise upon demand by the Bank. The Cardholder’s failure to sign any cash advance drafts will not relieve the Cardholder for liability to the Bank in respect thereof.thereof.‌‌‌‌ 4.3 The Bank shall be under no duty to verify the identity of the Person giving any Transaction Instruction purportedly in the name of a Cardholder. In the absence of any notice, the Bank is authorized to act on any Transaction Instruction, which the Bank in good faith believes to have emanated from a Cardholder. In no circumstances shall the Bank be held liable for acting in good faith upon any such Transaction Instruction which is subsequently found to have emanated from an unauthorized Person (and whether or not any cash advance draft or other document was required to be signed in order to issue the Transaction Instruction) and each Cardholder shall remain liable for all charges arising from any such Transaction Instruction.