The following Terms and Conditions contain significant agreements involving all users of BancNet Online. We therefore advise you to please review these terms and conditions carefully and indicate whether you agree or disagree to them clicking on the corresponding box towards the end of this document.

All the terms "You", "Your" and "Yours" will refer to the BancNet cardholder. The terms "We", "Us" and "Our" refer to BancNet, Inc. The words "System" refer to BancNet Online.

The word "System" refers to BancNet Online, and "ATM" refers to an Automated Teller Machine, and "your ATM Card" refers to the card used or to be used by you to access a BancNet ATM for the operation of certain functions and to access the System, and "your ATM Bank" refers to the bank which has issued your ATM card. The phrase "your Card Number" refers to the number of your ATM card, while the term "PIN" is your personal identification number which is the set of numbers that has to be entered into a BancNet ATM for it to recognize or accept your ATM Card.

TERMS AND CONDITIONS

1. USER ACCESS

1.1. When you choose and click on "I Agree," you are construed by us as signifying your confirmation that you have read and understood BancNet Online's Terms and Conditions and that you unconditionally bind yourself to all terms and conditions herein. In the event that your availment of a service, facility, or benefit of BancNet Online will violate or result in the violation of your agreement with your ATM Bank, you will not avail yourself of such service, facility or benefit of BancNet Online.

1.2. BancNet, Inc. has the sole discretion to give you access to BancNet Online with your use of an Internet-enabled computer, approved browser, your Card Number and PIN.

1.3. However, some or all of the services of BancNet Online may not be available at certain times due to system maintenance and/or computer, telecommunication, electrical or network failure, instruction by your ATM Bank or any other reasons beyond our control. BancNet will not be liable to you nor will it have to explain the reasons whenever access to the System is unavailable or not possible.

1.4. Your access to BancNet Online through your internet service or network provider in the country from where the service is accessed is subject to and governed by the relevant laws and regulations of that country and by terms and conditions mandated by your internet service or network provider and by your ATM Bank in separate agreements with you.

1.5. You ascertain that the computer system you use to access BancNet Online with your Card Number and PIN is free from any electronic, mechanical, data failure or corruption, computer viruses and bugs. BancNet, Inc. and its member banks shall not be liable for any loss or damage caused by any third parties, including internet browser providers (such as Netscape and Microsoft), internet service providers, their agents and sub-contractors, or by any computer or system virus interference or other harmful components that may interfere with your use of BancNet Online.

2.0. SYSTEM SECURITY

2.1. While BancNet, Inc. has endeavored to put in measures to secure the System, it has no warranty on the confidentiality, secrecy and security of any information sent out through any internet service provider, network system or other similar system via BancNet Online.

2.2. BancNet, Inc. shall be entitled to act on all instructions received through the System using your valid Card Number and PIN. You shall accept full responsibility for all transactions processed through the use of your Card Number and PIN whether or not processed with your knowledge or by your authority.

2.3. We are under no obligation to verify the authenticity or authority of persons effecting your instructions sent through BancNet Online nor check on its accuracy and completeness. Such instructions shall be deemed correct, complete, irrevocable and binding. You hereby accept full responsibility for all transactions executed via BancNet Online done with the use of your Card Number and PIN.

2.4. In the event you learn or suspect that someone else who knows your Card Number and PIN has made unauthorized transactions, you may report the same to your ATM Bank in accordance with your agreement with it. In any event, we shall not be answerable whatsoever for any transaction done with the use of your Card Number and PIN, whether or not authorized by you.

2.5. You agree that we may, without notice and without stating the reason therefor, cancel or refuse to execute any of your instructions at any time without incurring any liability.

2.6. We shall be indemnified and not be held liable against any and all proceedings, claims, losses, damages or expenses, including legal costs, that arise from any of the following conditions:

2.6.1. Any of your instructions verified by us or by the System as conveyed with the use of your Card Number and PIN;

2.6.2. Any unauthorized use of BancNet Online, your Card Number and PIN;

2.6.3. Any loss or damage caused by any access through your Card Number and PIN when the same is prohibited, restricted, delayed or otherwise affected by:

2.6.3.1 any law or regulation of the country from where BancNet Online is accessed and/or the terms and conditions prescribed by your internet service or information service provider or your ATM Bank; or

2.6.3.2 any law or regulation of any jurisdiction, regional or international authority which governs any use of any component of BancNet Online.

2.6.4. Any loss or damage caused by any act or omission of your internet service, information service provider or network provider;

2.6.5. Any loss or damage due to your interference or tampering with, or alteration or misuse of, or amendment to, BancNet Online.

2.7. There is no responsibility on our part should communications facility malfunction have an effect on the timeliness or accuracy of the instructions sent.

3.0. FINANCIAL TRANSACTIONS

3.1. Only cleared and withdrawable balances of your account shall be considered for financial transactions such as transfers and payments. BancNet Online is under no obligation to proceed with transfers and/or payments if your account has insufficient funds or credit to fund the transaction.

3.2. We shall not be responsible for any charges imposed on you or any other action taken against you by a payee arising from non-processing of your instruction due to any of the following reasons/conditions:

3.2.1. Insufficient funds;

3.2.2. Closed, blocked or dormant accounts;

3.2.3. a court order or competent authority prohibits the account from being involved in financial transactions; and

3.2.4. Reasons due to theft, malicious damage, strike lock-out, civil disturbance or any acts of force majeure.

3.3. All transactions through BancNet Online done after your ATM Bank's cut-off time, or on Saturdays, Sundays, and legal holidays shall be posted and treated by your ATM Bank in accordance with your agreement with it.

3.4. There will be an acknowledgement of the status of all your transactions and you may view, through the Transaction History Feature of the System, the last ten (10) BancNet Online transactions made within thirty (30) days preceding the viewing date.

3.5. Our limit of liability for any act or omission for any reason whatsoever, will only be for the lesser amount between your relevant transaction or your actual damages. Any special or consequential loss or damages from the use of BancNet Online is not covered by our liability.

4.0. PROPRIETARY RIGHTS

4.1. All trademark, tradename, servicemark, patent copyright remain vested in us and may not be used, copied, modified without the proper notice in writing and consent from us.

The Terms and Conditions contained herein are governed by the laws of the Republic of the Philippines and all suits to enforce this Agreement will have to be settled in the proper courts of the City of Makati.

I have read and fully understood the Terms and Conditions of BancNet Online and hereby agree to be governed by the said terms and conditions.