Notice of Amendment to Terms and Conditions
Cash Management- Collections Products and Services
Summary of Changes as of 15Nov 2023
In compliance with BSP- Circular 1160 on Financial Consumer Protection, we are making changes to the terms and conditions related to CMS Collections Product and Services
If you do not agree to accept the amendments or have any clarifications, please contact your CMS Sales Manager, or please send us an email at [email protected] or call our Customer Service Hotline at (02) 888-791-88. If we do not receive any advice from you, amendments are effective, and you will be deemed to have accepted all the changes herein.
QR Pay Collections Services Agreement for Merchant
Section 6 – Limitation of Liability- Paragraph 4
Unless the Bank is found to be guilty of gross negligence or willful misconduct in relation to the subject transaction, and there is no contributory fault or negligence on the part of the Merchant, the Bank shall not be liable for action or inaction upon such instructions sent, nor shall it be obliged to verify the accuracy and completeness of the instructions, or to investigate the authenticity or authority of the persons effecting the instructions. Such instructions shall be deemed correct, complete, irrevocable and binding on the MERCHANT upon receipt by the Bank. The MERCHANT hereby accepts full responsibility for all transactions executed via the Collection Services and in particular, in ensuring the accuracy and completeness of the instructions.”
Section 13 – Insert INQUIRIES AND COMMENTS
For inquiries and comments, please call the Bank’s Customer Service hotline at +632 8887-9188, 1-800-1-888-1250 (Toll-free for PLDT landline) or email us at [email protected].
Security Bank Corporation is regulated by the Bangko Sentral ng Pilipinas (https://www.bsp.gov.ph).
QR Pay Mobile App T&C for Customers
Section 16. The Customer acknowledges the Bank’s right to deactivate or de-list him/her from Security Bank QR Pay Customer Mobile Application with prior notice whether temporarily or permanently, if the Customer fails to comply with the Bank’s policies and standard operating procedures relating to my account(s), if I fail to show activity in my Security Bank QR Pay Customer Mobile Application, or if the Bank deems that the Customer’s continued access may adversely affect the Bank system’s credibility/security.
Section 17. Insert INQUIRIES AND COMMENTS
For inquiries and comments, the Customer can contact the Bank’s Customer Service hotline at (632) 8887-9188, 1-800-1-888-1250 (Toll-free for PLDT landline) or email the Bank at [email protected]. Security Bank Corporation is regulated by the Bangko Sentral ng Pilipinas (https://www.bsp.gov.ph).
DigiBanker Bills Payment Supplemental Agreement (for Aggregators)
Limitation of Liability
The implementation by the Bank of its normal procedures for maintaining the confidentiality of information relating to its customers and the crediting of the Merchant’s deposit accounts shall constitute fulfillment of its obligation to exercise due care in the use and operation of the Bancnet Bills Payment Module. Unless it can be proven that the loss or damage is directly attributable to the gross negligence or willful misconduct of the Bank and there is no contributory negligence on the part of the Customer, the Bank shall not be liable or responsible for any loss incurred or damage suffered by the Customer by reason or as a consequence of (i) the misuse of the Bancnet Bills Payment Facility, or (ii) inaccurate or incorrect information provided by the Customer and (iii) fraud or misrepresentation on the part of the Customer, Merchants or alleged Merchants or their respective representatives.
The Bank shall not be liable for any expense, claim, loss or damage arising out of or in any way relating to this Agreement, including but without limitation to that which arises from acts of third persons, natural disasters, calamities or events or circumstances not reasonably within the control of the Bank, such as typhoons earthquake, fire, strike, walk out, war, rebellion, electrical, computer or mechanical failures, except those which arise out of its acts constituting gross negligence in the performance of its obligations under this Agreement.
In no event shall the Bank be liable for any special, direct, incidental, exemplary or consequential damages, including but not limited to lost profits unless it can be proven that the damage is directly attributable to the gross negligence or willful misconduct of the Bank and there is no contributory negligence on the part of the Customer.
The agreed Average Daily Balance and/or Fee above shall be subject to periodic review by the Bank and may be amended from time to time to supplement this agreement with prior notice to the Customer. Any such modification, amendment or revision shall be valid and binding upon you on the date of effectivity specified in the notice. If the Customer does not agree with the new/revised terms and conditions, they have the right to exit the contract without penalty provided, that such right is exercised within thirty (30) days from receipt of individual notice.
Additional section/ Updates:
Review of Bank Statement
The Customer shall review the Bank’s statement once it is viewed, downloaded or printed. The Customer will notify the Bank immediately of any suspected error, alteration, or other irregularity (i) with the Bank statement; or (ii) with the Customer’s account, including unauthorized access. It is understood that telephoning the Bank immediately is the best way to keep losses down, although the Customer may also need to notify the Bank in writing to preserve the Customer’s rights. Notification of suspected errors, alterations, or other irregularity within the Customer’s Bank statement must be given within sixty (60) calendar days in which the suspect item appears. This time period begins from the date the Customer viewed, downloaded or printed the Bank statement.
Change of Terms and Conditions
The BANK reserves the right to change any or all of these terms and conditions. The Customer shall be notified of any such modification, amendment, or revision at least sixty (60) days prior to implementation of any amendments to the terms and conditions herein via e-mail or by public notice which may take the form of posting in public places, such as posting on the Security Bank’s website, or by such other electronic transmission or use of an electronic platform and/or at a conspicuous place within the premises of all banking units, which the Bank, at its option, considers appropriate and effective. Any such modification, amendment or revision shall be valid and binding upon you on the date of effectivity specified in the notice. If the Customer does not agree with the new/revised terms and conditions, they have the right to exit the contract without penalty provided, that such right is exercised within thirty (30) days from receipt of individual notice or thirty (30) days from issuance of public notice.
INQUIRIES AND COMMENTS
For inquiries and comments, please call the Bank’s Customer Service hotline at (632) 8887-9188, 1-800-1-888-1250 (Toll-free for PLDT landline or email us [email protected]. Security Bank Corporation is regulated by the Bangko Sentral ng Pilipinas (https://www.bsp.gov.ph).
Outsourced DPU Service Agreement
Section 1. Deletion of clause
The Client authorizes the BANK as its attorney-in-fact to engage the services of the SERVICE PROVIDER herein or any other service provider acceptable to the Client to perform the acts, deeds and things as described in this Agreement in its name, place and stead in accordance with the terms provided in Annex “C” herein. The Client accepts that there is no Deposit Transaction until the cash or checks are delivered and turned over to the BANK by the SERVICE PROVIDER in accordance with the applicable regulations of the Bangko Sentral ng Pilipinas.
Section 11.
The SERVICE PROVIDER shall be responsible and accountable to the other parties for all losses, errors, omissions, and frauds that may be attributed to the SERVICE PROVIDER as more particularly described in Annex “C” of the Agreement unless it can be proven that the loss, error, or omission is directly attributable to the Bank’s gross negligence of willful misconduct.”
Section 18. INQUIRIES AND COMMENTS
For inquiries and comments, please call our Customer Service hotline at +632 8887-9188, 1-800-1-888-1250 (Toll-free for PLDT landlines) or email us at [email protected]. Security Bank Corporation is regulated by the Bangko Sentral ng Pilipinas. (https://bsp.gov.ph)”
Sealed DPU Service Agreement/ Piece Count DPU Agreement/ Bundle Count/ Cash Delivery Services
Section on Limitation of liability
The liability and responsibility of the BANK shall be limited to damages or losses occasioned by defalcation or any other acts committed by its duly authorized representative(s), unless the BANK is guilty of gross negligence or willful misconduct and there is no contributory negligence on the part of the Client.
Section on INQUIRIES AND COMMENTS
For inquiries and comments, please call our Customer Service hotline at +632 8887-9188, 1-800-1-888-1250 (Toll-free for PLDT landlines) or email us at [email protected]. Security Bank Corporation is regulated by the Bangko Sentral ng Pilipinas. (https://www.bsp.gov.ph) “
Motorized Cash Collect
Updates in recital:
SBC will outsource to Signed and Delivered, Inc. (“Service Provider”) the collection of the Client’s cash from its payors, and for deposit to the Bank, subject to the terms and provisions of this Agreement, which the Client duly acknowledges and hereby accepts;
Removal of Section 1. Special Power of Attorney
New provision for Disclosure and Transparency
Section 19. INQUIRIES AND COMMENTS
Section 19.1 For inquiries and comments, please call our Customer Service hotline at +632 8887-9188, 1-800-1-888-1250 (Toll-free for PLDT landlines) or email us at [email protected]. Security Bank Corporation is regulated by the Bangko Sentral ng Pilipinas. (https://www.bsp.gov.ph)
Section 7 (Now). Inserts on Accountability
Section 7.1. Errors; Omissions; Fraud.–The Service Provider shall be responsible and accountable to the other parties for all losses, errors, omissions and frauds that may be attributed to the Service Provider and shall hold the Service Provider liable for the fines and penalties stipulated in the Penalty Provision herein unless it can be proven that the loss, error, or omission is directly attributable to SBC’s gross negligence or willful misconduct.
Section 7.3. Limitation on liability: Unless SBC is found to be guilty of gross negligence or willful misconduct in relation to the subject transaction, and there is no contributory fault or negligence on the part of the Company, the Company shall indemnify and hold SBC free and harmless for any claims, losses, costs or damages, including indirect, consequential or contingent and all such losses, damages, costs and expenses that the Company suffer or incur in connection with the Services provided by the Service Provider under the agreement. As principal, the Company shall be directly and solely liable for any such claims that may or shall be suffered by it due to the fault or negligence of the service provider or its officers, personnel, agents, or representatives or for its non-performance, breach or violation of the terms, conditions, guarantees, warranties and undertakings of this Agreement.
Section 7.4. SBC shall be responsible and accountable to the other parties for losses, errors, omissions, and frauds that may be attributable to the SERVICE PROVIDER, subject to the terms and conditions herein below and as may be allowed by existing laws and regulation: provided that this is without prejudice to the SBC’s right of recourse to the SERVICE PROVIDER. “
New provision for Disclosure and Transparency:
Section 19. INQUIRIES AND COMMENTS
19.1 For inquiries and comments, please call our Customer Service hotline at +632 8887-9188, 1-800-1-888-1250 (Toll-free for PLDT landlines) or email us at [email protected]. Security Bank Corporation is regulated by the Bangko Sentral ng Pilipinas. (https://www.bsp.gov.ph)”
Motorized Check Collect
Update in Recitals
WHEREAS, the Bank will outsource to Southbend Management Services, Inc. (Service Provider) the collection of the Client’s checks from its payors, and for deposit to the Bank, subject to the terms and provisions of this Agreement, which the Client duly acknowledges and hereby accepts.
Section 1. Special Power of Attorney is removed.
New provision for Disclosure and Transparency:
Section 13. INQUIRIES AND COMMENTS
- For inquiries and comments, please call our Customer Service hotline at +632 8887-9188, 1-800-1-888-1250 (Toll-free for PLDT landlines) or email us at [email protected]. Security Bank Corporation is regulated by the Bangko Sentral ng Pilipinas. (https://www.bsp.gov.ph)”
Now Section 4. Accountability
Section 7.1 Errors; Omissions; Fraud.–The Service Provider shall be responsible and accountable to the other parties for all losses, errors, omissions and frauds that may be attributed to the Service Provider and shall hold the Service Provider liable for the fines and penalties stipulated in the Penalty Provision herein unless it can be proven that the loss, error, or omission is directly attributable to the Bank’s gross negligence of willful misconduct.
Section 7.3. Limitation on liability: Unless the BANK is found to be guilty of gross negligence or willful misconduct in relation to the subject transaction, and there is no contributory fault or negligence on the part of the Client, the Client shall indemnify and hold SBC free and harmless for any claims, losses, costs or damages, including indirect, consequential or contingent and all such losses, damages, costs and expenses that the Client suffer or incur in connection with the Services provided by the Service Provider under the agreement. As principal, the Client shall be directly and solely liable for any such claims that may or shall be suffered by it due to the fault or negligence of the service provider or its officers, personnel, agents, or representatives or for its non-performance, breach or violation of the terms, conditions, guarantees, warranties and undertakings of this Agreement.
Section 7.4. The Bank shall be responsible and accountable to the other parties for losses, errors, omissions, and frauds that may be attributable to the SERVICE PROVIDER, subject to the terms and conditions herein below and as may be allowed by existing laws and regulation: provided that this is without prejudice to the BANK’s right of recourse to the SERVICE PROVIDER. “
Check Collect
Update on recitals:
WHEREAS, the Bank will outsource to Southbend Management Services, Inc. (Service Provider) the collection of the Client’s checks from its payors, and for deposit to the Bank, subject to the terms and provisions of this Agreement, which the Client duly acknowledges and hereby accepts.
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and conditions herein contained, the Bank and Client agree as follows:
Section 1. Special Power of Attorney is removed.
New provision for Disclosure and Transparency:
Section 13. INQUIRIES AND COMMENTS
- For inquiries and comments, please call our Customer Service hotline at +632 8887-9188, 1-800-1-888-1250 (Toll-free for PLDT landlines) or email us at [email protected]. Security Bank Corporation is regulated by the Bangko Sentral ng Pilipinas. (https://www.bsp.gov.ph)
Section 4 (Now). Accountability
- Errors; Omissions; Fraud.–The Service Provider shall be responsible and accountable to the other parties for all losses, errors, omissions and frauds that may be attributed to the Service Provider and shall hold the Service Provider liable for the fines and penalties stipulated in the Penalty Provision herein unless it can be proven that the loss, error, or omission is directly attributable to the Bank’s gross negligence of willful misconduct.
- Limitation on liability: Unless the BANK is found to be guilty of gross negligence or willful misconduct in relation to the subject transaction, and there is no contributory fault or negligence on the part of the Client, the Client shall indemnify and hold SBC free and harmless for any claims, losses, costs or damages, including indirect, consequential or contingent and all such losses, damages, costs and expenses that the Client suffer or incur in connection with the Services provided by the Service Provider under the agreement. As principal, the Client shall be directly and solely liable for any such claims that may or shall be suffered by it due to the fault or negligence of the service provider or its officers, personnel, agents, or representatives or for its non-performance, breach or violation of the terms, conditions, guarantees, warranties and undertakings of this Agreement.
Cash 360 Service Agreement
Section 1: Removal of clause
- The Client authorizes the BANK as its attorney-in-fact to engage the services of the SERVICE PROVIDER herein or any other service provider acceptable to the Client to perform the acts, deeds and things as described in this Agreement in its name, place and stead in accordance with the terms provided in Annex “A” herein. The Client accepts that there is no Deposit Transaction until the cash is accepted by the Hardware/machine and the deposit message is passed on to the BANK by the Service Provider using API or web services and duly received by the BANK. The Client understands that the Bank shall not be held liable in the event of malfunction or failure on the networks or connectivity relative to the Service which might result to delays in performing near real time crediting.”
Updates in following sections:
Section 2. In case the Client wished to enroll multiple collection accounts in the Cash Accept Machine, the Client hereby authorizes the Bank to enroll the listed main account for the Client and sub-accounts for the Client or its affiliates and subsidiaries, with the corresponding collection accounts below, to use the Cash 360 machine and deposit to their respective accounts. The Client understands that only 1 collection account is allowed per Client/affiliate/subsidiary. In lieu of multiple accounts enrollment, the Client understands that all transaction details such as Client Code, Client Name, Transaction Date, Flash, Container, Seal Number, Currency, Amount and Status shall be available for viewing of authorized users of ClientZone. The Client holds the bank free and harmless from any dispute arising from the arrangement unless the Bank is guilty of gross negligence or willful misconduct and there is no contributory negligence on the part of the Client.
Section 10. The liability and responsibility of the BANK shall be limited to damages or losses occasioned by defalcation, or any other acts committed by its duly authorized representative(s) unless it can be proven that there is gross negligence or willful misconduct on the part of the BANK’s duly authorized representatives and there is no contributory negligence on the part of the Client or the SERVICE PROVIDER.
Section 14. The SERVICE PROVIDER shall be responsible and accountable to the other parties for all losses, errors, omissions, and frauds that may be attributed to the SERVICE PROVIDER. The SERVICE PROVIDER shall be liable for any loss, damage or injury to the Client, its personnel, employees or representatives or the Client’s properties, or for any loss or damage for which the Client may be held responsible which is due to the fault or gross negligence of the SERVICE PROVIDER or its personnel, employee, or representatives. Notwithstanding the foregoing, the BANK shall be accountable for all losses, errors, or omissions if it can be proven that the same is directly attributable to the gross negligence or willful misconduct of the BANK
Section 20. For inquiries and comments, please call our Customer Service hotline at +632 8887-9188, 1-800-1-888-1250 (Toll-free for PLDT landlines) or email us at [email protected]. Security Bank Corporation is regulated by Bangko Sentral ng Pilipinas. (https://www.bsp.gov.ph).
Security Digibanker Supplemental (Post- Dated Check Manager Module)
Section 17. INQUIRIES AND COMMENTS
For inquiries and comments, the Client can contact our Customer Service hotline at +632 8887-9188, 1-800-1-888-1250 (Toll-free for PLDT landlines) or email us at [email protected]. Security Bank Corporation is regulated by Bangko Sentral ng Pilipinas. (https://www.bsp.gov.ph).”
Section 18. CHANGE OF TERMS AND CONDITIONS
The BANK reserves the right to change any or all of these terms and conditions. The Client shall be notified of any such modification, amendment, or revision at least sixty (60) days prior to implementation of any amendments to the terms and conditions herein via e-mail or by public notice which may take the form of posting in public places, such as posting on the Security Bank’s website, or by such other electronic transmission or use of an electronic platform and/or at a conspicuous place within the premises of all banking units, which the Bank, at its option, considers appropriate and effective. Any such modification, amendment or revision shall be valid and binding upon you on the date of effectivity specified in the notice. If the Customer does not agree with the new/revised terms and conditions, they have the right to exit the contract without penalty provided, that such right is exercised within thirty (30) days from receipt of individual notice or thirty (30) days from issuance of public notice.”
Payor Enrollment for Collections Services Terms and Conditions (UEP)
Updates in following sections:
Section 8. The Supplemental Agreement for Collection Services between the BANK and CLIENT may be cancelled at any time by either party with prior written notice of termination to the Payor.
Section 10. The BANK reserves the right to change any or all of these terms and conditions. The Customer shall be notified of any such modification, amendment, or revision at least sixty (60) days prior to implementation of any amendments to the terms and conditions herein via e-mail or by public notice which may take the form of posting in public places, such as posting on the Security Bank’s website, or by such other electronic transmission or use of an electronic platform and/or at a conspicuous place within the premises of all banking units, which the Bank, at its option, considers appropriate and effective. Any such modification, amendment or revision shall be valid and binding upon you on the date of effectivity specified in the notice. If the Customer does not agree with the new/revised terms and conditions, they have the right to exit the contract without penalty provided, that such right is exercised within thirty (30) days from receipt of individual notice or thirty (30) days from issuance of public notice.
Section 14. Unless the BANK is guilty of gross negligence or willful misconduct and there is no contributory negligence on our part, I/We agree to indemnify and keep the BANK free and harmless from and against liabilities, losses, claims and damages arising or resulting from the (i) negligence, willful act, fraud or collusion or violation of any terms of this Agreement on my/our part, my/our officers, employees and representatives and the use, operation and maintenance of the Collection Service and Security Digibanker including the BANK’s facilities; (ii) any and all errors and/or omissions inadvertently committed resulting to the BANK’s failure to effect any payment transaction that I/We may undertake via this Agreement; or (iii) any act or omission, fraud or representation, of any third party, especially the CLIENT, provided there is no gross negligence or willful misconduct on the part of the BANK, or its officers, employees and representatives.
Section 17. INQUIRIES AND COMMENTS. For inquiries and comments, please call our Customer Service hotline at +632 8887-9188, 1-800-1-888-1250 (Toll-free for PLDT landlines) or email us at [email protected]. Security Bank Corporation is regulated by Bangko Sentral ng Pilipinas. (https://www.bsp.gov.ph).
PDC OUTSOURCED (MEMORANDUM OF AGREEMENT/ POST-DATED CHECK (PDC) WAREHOUSING AND MANAGEMENT)
Update in Recital
WHEREAS, the Bank will outsource to Southbend Management Services, Inc. (the “Service Provider”) the collection of its Post-Dated Checks (PDCs) and for deposit to the Bank, subject to the terms and provisions of this Agreement, which the Client duly acknowledges and hereby accepts;
Section 1. Special Power of Attorney is removed.
Update in Section 5, item f:
The agreed ADB and/or Fee above shall be subject to periodic review by the Bank and may be amended from time to time to supplement this agreement with prior notice to the Customer. Any such modification, amendment or revision shall be valid and binding on the date of effectivity specified in the notice. If the Customer does not agree with the new/revised terms and conditions, they have the right to exit the contract without penalty provided, that such right is exercised within thirty (30) days from receipt of individual notice.
Section 6.a. Errors; Omissions; Fraud. The Service Provider shall be responsible and accountable to the other parties for all losses, errors, omissions and frauds that may be attributed to the Service Provider and shall hold the Service Provider liable for the fines and penalties stipulated in the Penalty Provision herein unless it can be proven that the loss, error, or omission is directly attributable to the Bank’s gross negligence of willful misconduct.
Section 6.b. Limitation on Liability. Unless the BANK is found to be guilty of gross negligence or willful misconduct in relation to the subject transaction, and there is no contributory fault or negligence on the part of the Client, The Client shall indemnify and hold SBC free and harmless for any claims, losses, costs or damages, including indirect, consequential or contingent and all such losses, damages, costs and expenses that the Client suffer or incur in connection with the Services provided by the Service Provider under the agreement. As principal, the Client shall be directly and solely liable for any such claims that may or shall be suffered by it due to the fault or negligence of the Service Provider or its officers, personnel, agents, or representatives or for its non-performance, breach or violation of the terms, conditions, guarantees, warranties and undertakings of this Agreement.
Section 7. CHANGE OF TERMS AND CONDITIONS
The BANK reserves the right to change any or all of these terms and conditions. The Customer shall be notified of any such modification, amendment, or revision at least sixty (60) days prior to implementation of any amendments to the terms and conditions herein via e-mail or by public notice which may take the form of posting in public places, such as posting on the Security Bank’s website, or by such other electronic transmission or use of an electronic platform and/or at a conspicuous place within the premises of all banking units, which the Bank, at its option, considers appropriate and effective. Any such modification, amendment or revision shall be valid and binding upon you on the date of effectivity specified in the notice. If the Customer does not agree with the new/revised terms and conditions, they have the right to exit the contract without penalty provided, that such right is exercised within thirty (30) days from receipt of individual notice or thirty (30) days from issuance of public notice.”
Annex A. 8. INQUIRIES AND COMMENTS
For inquiries and comments, the CLIENT can contact our Customer Service hotline at +632 8887-9188, 1-800-1-888-1250 (Toll-free for PLDT landlines) or email us at [email protected]. Security Bank Corporation is regulated by Bangko Sentral ng Pilipinas. (https://www.bsp.gov.ph).
Corporate Collection Service via IBFT Facility MOA
Section 8 (now).
For inquiries and comments, the Company may contact our Customer Service hotline at +632 8887-9188, 1-800-1-888-1250 (Toll-free for PLDT landlines) or email us at [email protected]. Security Bank Corporation is regulated by Bangko Sentral ng Pilipinas. (https://www.bsp.gov.ph).”
Section11.
It is hereby agreed that any dispute concerning the implementation of the Services will be addressed to the Service Provider and the Company holds SBC free and harmless from and damage or liability that may arise from the Company’s availment of the Services unless SBC is guilty of gross negligence or willful misconduct and there is no contributory negligence on the part of the Company/Service Provider.
Merchant Client Supplemental Agreement for Collection Services
SECTION 8. OTHER PROVISIONS, on 7th paragraph
For inquiries and comments, the CLIENT may contact the BANK’s Customer Service hotline at +632 8887-9188, 1-800-1-888-1250 (Toll-free for PLDT landlines) or email the BANK at [email protected]. Security Bank Corporation is regulated by Bangko Sentral ng Pilipinas. (https://www.bsp.gov.ph).
Section 7. Bank-initiated requests to edit/revise file.
If due to reasons as determined by the Bank, the Bank initiates requests to edit a billing file submitted by the CLIENT, with notice to the Client, the CLIENT is hereby authorizing the Bank to perform the following change/s which shall be limited to and for the following specific reasons: xxx
In making this authorization, the CLIENT holds SBC free and harmless from the consequences of the afore-mentioned instructions. In the event of any suit, liability, responsibility or claim against SBC with respect to the revisions, the CLIENT undertakes to defend SBC, its stockholders, directors, officers, employees and agents, from such suit, responsibility or claim, at our expense and to indemnify SBC in full for any and all claims, costs, fees, damages and other expenses which it may incur or suffer as a result of or in connection therewith unless SBC is guilty of gross negligence or willful misconduct and there is no contributory negligence on the part of the Client.”
ADCM Debit Account Enrollment Form
Additional provisions
Section 14. For inquiries and comments, the Depositor may contact the BANK’s Customer Service hotline at +632 8887-9188, 1-800-1-888-1250 (Toll-free for PLDT landlines) or email the BANK at [email protected]. Security Bank Corporation is regulated by Bangko Sentral ng Pilipinas. (https://www.bsp.gov.ph).”
Section 6. The AutoDebit Collection Arrangement between the Bank and the mentioned Company/Institution/Beneficiary may be cancelled at anytime by either party with notice of termination to me/us.
Section 11. I/We hold the Bank and other members of the Bank as well as any of their officers and representatives free and harmless from any and all liabilities, claims, demands, suits of whatever nature, arising out of or in connection with the implementation of this arrangement, including any and all errors and/or omissions inadvertently committed resulting to the Bank’s failure to effect any payment transaction that I/We may undertake via the AutoDebit Collection Arrangement, unless the Bank is guilty of gross negligence or willful misconduct and there is no contributory negligence on my/our part ; I/we understand and accept that if I/we submit a new enrollment form with new instructions or details, I am authorizing the Bank to effect the concomitant change of in my existing enrollment, if any, and I accept that the transition or change could result in a possible failure to effect a pending payment transaction via the ADC.
Payor Enrollment for Collection Services- REPS
Additional and Updates of Sections
Section 21: CHANGE OF TERMS AND CONDITIONS.
The BANK reserves the right to change any or all of these terms and conditions. The Payor shall be notified of any such modification, amendment, or revision at least sixty (60) days prior to implementation of any amendments to the terms and conditions herein via e-mail or by public notice which may take the form of posting in public places, such as posting on the Security Bank’s website, or by such other electronic transmission or use of an electronic platform and/or at a conspicuous place within the premises of all banking units, which the Bank, at its option, considers appropriate and effective. Any such modification, amendment or revision shall be valid and binding upon you on the date of effectivity specified in the notice. If the Payor does not agree with the new/revised terms and conditions have the right to exit the contract without penalty provided, that such right is exercised within thirty (30) days from receipt of individual notice or thirty (30) days from issuance of public notice.”
Section 17 (now)
Section 17. INQUIRIES AND COMPLAINTS. For inquiries and comments, please call our 24-Hour Customer Service hotline at (632) 88-791-88 or email us at [email protected]. Security Bank Corporation is supervised by Bangko Sentral ng Pilipinas with telephone number (632) 708-7087 and email address [email protected].”
Payor Enrollment for Collection Services- BIPPS
Update in the following sections
Section 8. The Supplemental Agreement for Collection Services between the BANK and CLIENT may be cancelled at any time by either party subject to applicable banking regulations. The Bank shall notify the Payor of the termination of the agreement.
Section 9. The BANK may in the future impose charges on this arrangement with prior notice to the client and within legal and regulatory limits.”
Section 11. Unless the BANK is found to be guilty of gross negligence or willful misconduct, it shall not be held liable for any adverse actions/consequences brought about by the CLIENT or Payment Instruction made on overdue or past due accounts, policy lapses, and/or the like.”
Section 13. I/We agree to indemnify and keep the BANK free and harmless from and against liabilities, losses, claims and damages arising or resulting from the (i) negligence, willful act, fraud or collusion or violation of any terms of this Agreement on my/our part, my/our officers, employees and representatives and the use, operation and maintenance of the Collection Service and Security Digibanker including the BANK’s facilities; (ii) any and all errors and/or omissions inadvertently committed resulting to the BANK’s failure to effect any payment transaction that I/We may undertake via this Agreement; or (iii) any act or omission, fraud or representation, of any third party, especially the CLIENT, provided the BANK or its officers, employees and representatives is not found to be guilty of gross negligence or willful misconduct in relation to the subject transaction.”
Section 14. I/We shall be liable in cases where there is an erroneous debit or credit instruction of an account or any other erroneous datum or information uploaded to the BANK where such erroneous instruction, datum or information results in a claim or complaint by any party against the BANK provided the BANK, or its officers, employees and representatives is not found guilty of gross negligence or willful misconduct.”
Section 15. I/We hereby warrant the correctness of the instructions, data and information in every debit instruction submitted to the BANK, and provided the BANK, or its officers, employees and representatives is not found guilty of gross negligence or willful misconduct, any error discovered therein or which results there from in the course of the BANK’s performance of the agreed service under this Agreement shall automatically be attributable to me/us and shall remain my/our liability.”
Section 16. Insofar as allowed by applicable law, the BANK shall not be responsible for monitoring payments nor for custodianship or issuance of official receipts to Payors. The BANK’s responsibility shall be limited only to accepting, crediting, and reporting payments to the CLIENT. The CLIENT shall ensure that payments made by Payors as reported by the Bank shall be applied and updated with the Payor’s customer code or reference number. The CLIENT shall establish its own arrangements with the Payors for the issuance of official receipts confirming the payments made through the Service. The Bank shall not be liable for delay or non-issuance by the CLIENT of official receipts to the Payors, or for failure or delay on the part of the CLIENT to act on any request of the Payors for adjustment, recomputation, and/or refund of payments, etc.”
Section 18. INQUIRIES AND COMMENTS. For inquiries and comments, please call the Bank’s Customer Service hotline at (632) 8887-9188, 1-800-1-888-1250 (Toll-free for PLDT landline or email us at [email protected]. Security Bank Corporation is regulated by the Bangko Sentral ng Pilipinas (https://www.bsp.gov.ph).”
Additional section:
Section 19. The BANK reserves the right to change any or all of these terms and conditions. The CLIENT shall be notified of any such modification, amendment, or revision at least sixty (60) days prior to implementation of any amendments to the terms and conditions herein via e-mail or by public notice which may take the form of posting in public places, such as posting on the Security Bank’s website, or by such other electronic transmission or use of an electronic platform and/or at a conspicuous place within the premises of all banking units, which the BANK, at its option, considers appropriate and effective. Any such modification, amendment or revision shall be valid and binding upon you on the date of effectivity specified in the notice. If the C does not agree with the new/revised terms and conditions, they have the right to exit the contract without penalty provided, that such right is exercised within thirty (30) days from receipt of individual notice or thirty (30) days from issuance of public notice.”