• DEFINITIONS:

The following definitions should apply in this Agreement which defines terminologies meaning unless otherwise oppositely determined:

“Agreement”
Means this Agreement or its amendments from time to time in accordance with condition 14 set herein.

• “Bank”Means Attijariwafa bank Egypt S.A.E, its successors and assignees.
• “Card”Means the Attijariwafa bank Egypt S.A.E card issued for any of the principle or supplementary Cardholder by virtue of principle cardholder request.
• “PIN”Means card Personal Identification Number received by the cardholder to allow cash withdrawals from ATMs, The Cardholder is responsible to keep secrecy and confidentiality of this PIN, and do not disclose it for any other person, the PIN is considered to be cardholder responsibility from the date of its delivery for the cardholder, without any responsibility on Attijariwafa bank in this concern.
• “Telephone Personal Identification (TPIN)”Means the number used to verify electronically the identity of the cardholder via telephone, The Cardholder is responsible to keep secrecy and confidentiality of this TPIN, and do not disclose it for any other person, the PIN is considered to be cardholder responsibility from the date of its delivery for the cardholder, without any responsibility on Attijariwafa bank in this concern.
• “ATM”Means Automated Teller Machines.
• “Principal Cardholder”Means the person to whom the Bank has issued the principal card and opened in his/her name the card account; such person shall be legally liable for all amounts due/accrued as a result of using the principal or supplementary card.
• “Card Account”Means an account maintained with the Bank in relation to the card transactions.
• “Card Transaction”Means any payment made or cash advance obtained as a result of using the card, and/or the card number or at any manner authorized by a cardholder or a principal cardholder to debit the card account.
• “Credit Limit”Means the maximum debit balance from time to time permitted on the card account as agreed by the Bank by its absolute discretion and notified to the principal cardholder.
• “Authorized User (Supplementary Cardholder)”Means a person nominated by virtue of condition No. 13 to whom the Bank shall issue a supplementary card upon request of the principal cardholder.
• “Card Holder”Means any of the principal card holder and/or the supplementary cardholder.
• “Charges & Fees”Means any charges or fees specified by virtue of articles 5, 6 and charges annex attached with this Agreement.
• “Easy Installment Plan facility”Means the easy plan that enables the Cardholder to make a high value purchase and to repay the value of the purchase in installments up to 60 months.
• “Interest”Means the interest charge applied on Cardholder’s account as advised by the Bank from time to time.
• “Statement Date”Means date of the statement referred to in condition 4 or as determined by the Bank pursuant of condition 14.
• “Cash on call facility”Means making available to the Cardholder on his request a certain amount of cash to be credited to his current account maintained at the Bank’s end or by a bank draft against the credit limit on his card.
• “Balance Transfer Facility”Means making available to the Cardholder on his request a certain amount of available credit limit on his card to be transferred to other banks in Egypt to settle his credit cards balances maintained with those banks.
• “Facilities”Means Easy Installment Plan or Cash on call or Balance Transfer or the issued Card and any supplementary thereof.
• “Pounds”Means the Egyptian currency.
• “Egypt”Means Arab Republic of Egypt

2. USE OF THE CARD

The Cardholder shall sign his/her verified signature held with the bank at the back of the card immediately upon receipt and the card may only be used:

• By the Cardholder personally.
• Subject to the terms and conditions set herein this Agreement and its amendments from time to time at the time of card usage.
• To obtain facilities and benefits available from time to time by the Bank in respect of Card usage.
• During validity period stated in the card.
• Within the authorized Credit Limit, and whether this has been exceeded by the sole discretion of the Bank, the Bank has the sole right and takes into consideration any unsettled amounts or transactions, and any authorizations given in respect of prospective card transaction.
• The Bank has the right of on its absolute discretion, at any time to stop the right of card usage or to refuse any request for authorization of, any particular card, advances, directly from the Bank or any cash in advance through ATM, within 40% of the credit limit or such as determined by the Bank and notified to the principal cardholder from time to time which shall form part of the credit limit.
• All card transactions taking place in currencies other than Egyptian pounds and whether inside or outside Egypt should be converted from that currency in which the card transaction took place to Egyptian Pounds at Bank’s prevailing rate as (at) of the date of such Conversion and shall be debited to card account in Egyptian Pounds.

3. THE CARD ACCOUNT 

The Bank may deduct the card account with the amount of all card transactions, any other liabilities of the cardholder and any loss incurred by the Bank arising from the usage of the card. The principal cardholder will pay to the Bank all amounts debited to whether or not a sale or cash advance voucher is signed by a cardholder.

4. MONTHLY STATEMENTS, INTEREST, LATE PAYMENT CHARGE, CREDIT LIMIT EXCESS CHARGE

• The Bank will circularly send a statement showing all credits and debits in respect of the card account to the principal cardholder who should repay the bank at the due dates not less than 5% or 50LE (whichever is higher)of the amount shown in that statement, or any amounts determined from time to time by the Bank. No cardholder shall refer back or make any objections for the Bank concerning any statements if 15 days or more have been elapsed from sending date of the monthly statements.
• If the principal cardholder repays the whole outstanding balance determined on the statement before close of business on its due dates, no interest shall be charged on the balance (excluding the cash balance), there are no interest free days on cash transactions. If the principal cardholder duly pays the due amount on payments less than the total balance determined in the statement, then the principal cardholder should pay the interest rates, charges and fees which determined in the Bank schedule of charges and any of its amendments from time to time as soon as it announced at the bank or sent for the cardholder, and interest will be calculated as from the date of the transaction on the daily outstanding balance.
• If the principal cardholder makes payments other than that the whole outstanding balance determined in the statement, such payment shall be applied by deduction as per the following payment hierarchy: debit interest, debit fees, Installments, cash advance, sales draft and all other debits in order of maturity of the transactions for the extent available with the payments being applied first against the earliest dated outstanding transaction appearing on the card account.
• Interest Calculation:
• If the existing total statement balance is fully settled with the bank prior to or on the payment due date, no interest will be charged on that balance excluding cash balance.
• Interest will be calculated on cash withdrawals from the withdrawal date and until the full payment thereof on the daily outstanding balance.
• If the total amount due in the monthly statement is paid in full before the payment date, no interest will be charged on that balance excluding cash balance. If the borrower chooses not to pay the amount due in full, interest will be charged on the total outstanding balance deducting interest on payment dates.
• Any amount not received in cleared money at the close of business on the due date will be deemed not to have been paid and will not be credited to the card account until the date of the next following statement, notwithstanding that payment may have been affected in cleared money subsequent for such period but prior to the next statement date.
• The amount of any excess over credit limit, any arrears and any card transaction made in breach of this Agreement will be immediately payable in full whether or not demanded by the Bank.
• A credit limit excess charge on a daily basis at a rate to be determined by the Bank may be debited to the card account or any portion of its balance in excess of the credit limit in addition to any interest or charges changeable under this agreement.
• If any amount remains outstanding, cardholder authorizes the Bank to offset such amount from any amounts that cardholder may have in credit in any of accounts held in the Bank.
• Subject for any limitation imposed by statute, all amounts charged to the card account by virtue of this agreement must be immediately settled for the bank in full if any of the following cases happen: an act of bankruptcy issued against the cardholder, loss of capacity, death of the principal cardholder or at the Bank’s sole discretion upon demand, or if there is any breach of this agreement by a cardholder.
• If the principal cardholder did not make the payment by the due date, a late payment charge should be calculated as per bank schedule of charges. At the same time, interest on the purchase balance and cash balance shall apply as per the rates mentioned in schedule of charges.

5. CHARGES

• The charges payable in respect to usage of the card shall be determined by the Bank and notified for the principal cardholder from time to time. Initially, they will be the figures appearing in this clause.
• Joining fees, annual subscription, plus additional cardholder charges in respect of each additional authorized user shall be paid upon application for establishment by the principal cardholder of a card account.
• An annual subscription fee after the initial subscription period lapses for each year or part of a year charged in advance in respect of each card issued for use by an authorized user as shown in the bank schedule of charges shall be paid.

4. LOSS OF CARDS AND LATE PAYMENT

• The principal cardholder shall be liable for any loss or cost which the Bank determines it has suffered as a result of any breach of this agreement by a cardholder.
• If the Bank accepts late or partial payment, this does not affect any of the Bank’s rights under the conditions of use or at law even if the payment is described as being full or in partial settlement of any sum due.

4. WITHDRAWAL OF USE OF THE CARD

• The Bank may at any time and without notice cancel or suspend the right to use any card entirely or in respect of specific facilities or refuse to re-issue, renew or replace any card, without in any case affecting the cardholder’s obligations under this agreement for transactions made before or after such cancellation or suspension which shall continue in force for transaction made before or after such cancellation or suspension.
• The card remains the property of the Bank at all times. On request, all or any card issued for use on the card account must be returned immediately to the Bank or any other person acting for the Bank.

4. TERMINATION

• The principal cardholder may terminate this agreement by sending a written notice for the Bank confirmed with delivery receipt. Such termination shall be effective upon returning all issued cards to be used on the card account (Principle card and any supplementary card) to the Bank, and the full payment of all liabilities of the principal cardholder by virtue of this agreement and ensuring that there are no further amounts due on basic or supplementary card/s.Until final termination, the Bank may renew any cards from time to time to be used in accordance with this agreement and the cardholder should be liable to pay renewal fees.

9. SAFEGUARDING THE CARD AND THE PIN

• The cardholder will exercise all care necessary to ensure the safety of the card and the secrecy of the PIN at all times. The cardholder will not disclose the card number to any third party except in connection with cheque guarantee or encashment usage, for the purpose of a card transaction or when reporting the actual loss or theft of the card. A principal cardholder may not reveal the PIN to anybody, even to an authorized user. A cardholder shall not allow any other person to use the card with or without knowledge of the PIN. A cardholder shall never write the PIN on the card or anything usually kept with it. If the cardholder shall keep a written record of the PIN, he must exercise prudence in disguising it.If the card is howsoever lost, stolen or for any other reason liable to misuse or the PIN has been disclosed to anyone other than an authorized user (referred to in this clause as “lost”) inside or outside Egypt, the cardholder must immediately notify the Bank through the telephone number specified in the Bank’s brochure(s) or customer service number “16222”. Such oral notification of loss is to be confirmed in writing to the bank via letter confirmed by delivery receipt or applying this notification in writing to any of the bank branches. If a card is lost and only an oral notification is given to the Bank, the Bank shall only block any transaction on the card until confirmation in writing is received within 15 business days from such oral notification.Until the Bank receives an effective written notification, the principal cardholder will be liable in respect of any use of the card.
• After the Bank has been effectively notified, the principal cardholder’s liability for any subsequent use of the card other than a cardholder will cease provided that the card has not been used by a person who acquired possession of it with the cardholder’s consent, expressed or implied.
• The cardholder will give the Bank the information in their possession as to the circumstances of the loss, theft or misuse of the card deemed necessary by the Bank to assist the recovery of a missing card. In the event of any such loss, theft, misuse or disclosure being suspected, the Bank may provide the police any information it consider relevant. If a card is reported as lost, stolen or liable to misuse, that card must not subsequently be used but must be cut in half and returned immediately to the Card Centre Manager.

10. REFUND AND CARDHOLDER CLAIMS

• The card account will only be credited with a refund in respect of a card transaction if only the Bank receives a refund voucher or other refund verification acceptable to it. No claim should be raised by the principal cardholder or any supplementary cardholder against a third party which may be the subject of a defense or counterclaim against the Bank. No rights for the principal cardholder or any supplementary cardholder against the Bank may be assigned or otherwise disposed of. The principal cardholder and supplementary cardholder shall not be entitled for interest on any credit balances there may be in the card account.
• No cardholder shall return for cash refund any goods and tickets for service obtained by virtue of usage of the card. Any such refunds must be credited only through the card account.

11. EXCLUSION OF LIABILITY

• The Bank shall not be responsible by any way, if the card is not honored for usage by a third party.

12. DIRECT DEBIT

• The Cardholder hereby authorizes the Bank to directly debit his account held with Attijariwafa bank with the minimum payment amount or 5% of the outstanding balance or any requested amount 5 days prior of the statement due date and the cardholder approves and accepts to ask the bank for settlement of such amount over the phone.

13. AUTHORIZED USERS

• The Bank may issue a card to be used by any natural person nominated by the principal cardholder as an Authorized User on the Card Account. Each of them shall be liable jointly and severally for all amounts arising of, or losses incurred for the card account or for Bank in connection of using the card by an authorized user (including any usage in breach of this agreement which the Bank shall be under no responsibility to prevent it). In addition the Bank may cancel any authorized users at any time upon its sole discretion or upon the written request of the principal cardholder; accordingly the principle cardholder must return such cards to the Bank.

14. VARIATION OF THIS AGREEMENT

• The Bank has the right at its sole discretion to vary or change terms and conditions of this agreement at any time and inform the cardholder with any changes or variations either in writing or by announcing it at the bank or by any way of announcement, any variations or changes announced in this concern should be effective toward the principle cardholder or supplementary cardholder. The cardholder should be liable to accept and approve it.

15. BALANCE TRANSFERS – NON INSTALLMENT 

• The Cardholder acknowledges that all Telephonic transfer instructions made by the customer shall be considered correct and binding. The bank shall not liable of any loss or damage that may occur as a result of this transfer.The balance transfer facility can be used for settling dues with Banks established and operated in Egypt only.
• The amount of balance transfer has to be within the available credit limit on the Attijariwafa bank
• The balance transfer is only allowed to a basic card customer who has a credit card account in both banks with the same name and address.
• There are no additional fees for the Balance Transfer facility.
• In case there is more than one request for balance transfer for different credit cards issued from different bank, Bank Attijariwafa bank reserves the right to determine which, if not all will be settled and in which order.
• Where necessary in order to comply with formal instructions or directives from a competent regulatory authority (whether local , national, regional or international), the Bank (or any of its subsidiaries, affiliates or branches) may terminate this Agreement, refuse to provide services to or effect instructions of the Cardholder, decline to make, receive or transfer payments to the Card Account or any other Bank account belonging to the Cardholder if either the Cardholder or the payee of any amount is an individual, entity or government which is determined or suspected to be (or to be connected to) a sanctioned entity by said competent regulatory authority or if said entity is suspected to be involved in any money laundering practices.

16. CASH ON CALL, BALANCE TRANSFER FACILITY & EASY INSTALLMENT PLAN

• Only the Principle Cardholder may avail the offered Facilities or services.
• The Cardholder may select one of the Repayment periods of (3, 6, 12, 18, 24, 36, 48 or 60 months) that the Bank offer him.
• Interest, at the reducing balance to be determined by the Bank from time to time, is applicable on the principal sum from the date on which the principal sum is debited to the Card account.
• The Cardholder shall be required to repay the principal sum together with the interest in equal monthly repayments during the selected Repayment period.
• If the Cardholder wishes to settle the outstanding amount before the end of the selected Repayment period, the Cardholder shall be required to repay the outstanding principal amount in addition to 4% (of the outstanding principle) as prepayment penalty for early settlement.
• Non-payment of any monthly Repayment will be considered a breach to the Terms and Conditions and the Bank reserve the right at all time to bill the entire outstanding amount immediately.
• The Cardholder shall be liable for any default charges in the event of non-payment. The monthly minimum payment will be 5% of the outstanding balance plus monthly installment amount, fees & interest. The payment will be allocated as follows in the same order: Interest, Fees, Installment, Cash transactions, Retail transactions and Other Debits.
• Billing of the Facilities will commence on the month following the month on which the Facilities are availed to the Cardholder.
• The Bank reserves the right to refuse granting any of these Facilities to the Cardholder or to limit the amount that can be obtained, in addition, the Bank may change or cancel the Facilities at any time subject to customer notification.
• Installment conversion shall be applicable to all offered facilities. In case of Easy Installment Plan the transactions are to be converted to installment within 60 days from the purchasing date.
• The Cardholder acknowledges that all telephonic transfer instructions made by the customer shall be considered correct and binding. The Bank shall not be liable of any losses or damages that may occur thereof.
• The Balance Transfer Facility can be used for settling dues with other banks established and operating in Egypt only.
• In case where there is more than one request for balance transfer for different credit cards issued from different banks, the Bank reserves the right to determine which, if not all will be settled and in which order and shall communicate such to the Cardholder.
• Where necessary in order to comply with formal instructions or directives from a competent regulatory authority (whether local, national, regional or international), the Bank (or any of its subsidiaries, affiliates or branches) may terminate this Agreement, refuse to provide services to or effect instructions of the Cardholder, decline to make, receive or transfer payments to the Card Account or any other bank account belonging to the Cardholder if either the Cardholder or the payee of any amount is an individual, entity or government which is determined or suspected to be (or to be connected to) a sanctioned entity by said competent regulatory authority or if said entity is suspected to be involved in any money laundering practices.
• The amount of the Cash on call & Balance Transfer facility shall not exceed the unutilized credit limit of the Card and will be determined at the banks discretion.
• To be eligible for the Easy Installment Plan facility, you must not be a delinquent customer.
• The Bank shall not be liable for any damages or losses incurred by the Cardholder arising out of the installation, use or otherwise of the Easy Installment Plan purchase nor shall be responsible in any way for the quality of the Easy Installment Plan purchase. Any complaint with regard to the quality of the Easy Installment Plan purchase shall be referred to the relevant supplier or merchant and shall not affect the Cardholder obligation to continue making payments under this condition.

16. GENERAL

• The Bank, also its agents and subcontractors shall not be responsible, if it is unable or not possible to perform obligations set herein this agreement due (directly or indirectly) to failure of any machine, data processing system of transmission link or any reason outside bank’s control. If the Bank is unable to issue or send monthly statement in respect of the card account, the principal cardholder’s liability for the late payment charge shall continue for the purpose of calculating such charges, and its due date. The Bank may select a date in each calendar month and consider it as the statement date.
• The Bank shall not be responsible, accountable and should not be claimed by any way whatsoever for any loss or damage due to the usage of any ATM, subject to the joint and several responsibility of the cardholders set by condition 13, the principal cardholder agrees to indemnify the Bank against losses, costs, charges and expenses which the Bank may suffer or incurred directly or indirectly due to usage of any ATM or any breach of this agreement by any of cardholders.
• The principal or supplementary cardholder shall immediately notify the Card Centre, in writing of any changes in name or current address, otherwise all correspondences is considered to be effective as long as it sent to the last address announced in writing by the cardholder and from its sending date.
• Any other facilities or benefits made available for the cardholders and not forming a part of this agreement may be cancelled at any time The Bank is not committed for such facilities and benefits to be continued for an infinite period, cardholder signature on this agreement is considered to be a final and prior approval from him to the bank to change or cancel any of these facilities from time to time.
• The cardholder warrants the accuracy of all the information given or written by him set herein this application for opening the card account and any subsequent communications with the Bank in the future.
• The cardholder shall not make any payments for any person or entity except the Bank in respect of services obtained by a virtue of using the Card.
• All charged interests set by virtue of this agreement shall be charged before and/or after evaluation.
• Internet transactions are not always secure. Please ensure that any internet transaction is made through a secure site. The Bank shall not be liable for any case of any damage which may be accrued by the cardholder as a result of transaction made through unsecured internet site. Also the Bank will not be responsible for any misuse of the card as a result of cardholder’s disclose for the card number through the internet or for others. The Bank will not be liable or responsible for misusing or disclosure of the PIN or TPIN for any other person or through the internet after its delivery for the cardholder.
• By virtue of this agreement, the Cardholder hereby irrevocably approves and accepts any of the bank products requested by him/her over the phone even it is not confirmed in writing by the cardholder.

16. DISCLOSUREThe Bank may waive, assign and/or transfer a part or all of its rights, benefits and obligations set herein this agreement for others at any time. The cardholder agrees to set-off any rights of clearance in respect of sums due for the bank from the cardholder to the card account or by virtue of this agreement.

19. WAIVERS AND ASSIGNMENT

• The cardholder hereby irrevocably agrees and undertakes that Attijariwafa bank has the sole right to make any investigation and/or exploration about the cardholder, his/her transaction/s and the related parties of such transactions, and permits for Attijariwafa bank to exchange cardholder’s data or information to CBE (Central Bank Of Egypt) also Attijariwafa bank mother company or any other related companies or within Attijariwafa bank Group and Generally any other party or entity required by the bank or in case of taking any legal action against the cardholder.

1. Definitions

The following definitions shall be applied in this contract and attachments which explain terminologies’ meanings unless otherwise clearly stated:

The Bank: Means Attijariwafa bank Egypt S.A.E

• Borrower: Means The applicant for loan from the Bank (who sign this contact).

1. Loan: Means Loan amount granted to the Borrower by the bank.

• Starting Date:
• Interest Rate: % (Flat, Decreasing).
• Late Payment Fee: % calculated on the due amount that has not been repaid on time, from the due date till full settlement.
• Early Repayment Fee: %
• Administration Fee: %
• Business Day: Means official Banking Business days in A.R.E commencing from Sunday till Thursday for every week, except official holidays.
  2. Loan Purpose
• The purpose of this loan is to be utilized for personal purposes which should be legal and legitimate.
• 3. Loan Amount
• By virtue of this contract and according to its terms and conditions, and according to the borrowers’ request the Bank agrees to grant the Borrower a loan for the amount of EGP ……. (only ……… Egyptian Pound), available for drawdown from the Bank.
• 4. Loan Duration & Method of payment
• Loan duration ….. months. The Borrower is obliged to repay the loan amount including interest, commissions and fees through regular monthly installments (including interests, commissions and fees). The value of each installment is EGP……. (only ……… Egyptian Pound) till the full settlement of loan amount, interests, fees and commissions. The first installment is due on …. and so forth till full settlement of the whole loan amount in addition to all interest charges, commissions and fees stated in this contract.In the event the Borrower fails to repay, fully or partially, two consecutive installments on their due dates, the remaining installments will fall due and the whole loan amount in addition to interest, charges, commissions, fees or penalties must be payable upon first demand. The Bank may hence proceed with all the appropriate procedures to preserve its rights against the Borrower.
• The Borrower hereby agrees definitely and irrevocably, that the bank has the right to settle from the borrower’s accounts held in with Attijariwafa bank and on monthly basis all interests, commissions, charges and fees mentioned in this contract. The Bank has the right to amend annual interest rates at any time in respect of lending and discount rate determined by the Bank’s policy in the future. Also the Borrower’s account will be debited monthly with all other actual expenses and fees.
• For premier loans customers, the borrower hereby agrees that the bank will ensure his life under the group loan insurance policy against the outstanding loan amount. By virtue of that the borrower authorizes the bank to debit the borrower’s current account for the insurance premiums and to be paid by the bank to the insurance company during the term of the loan.
• If the borrower dies before settling the loan totally or partially, the insurance company will pay the bank the outstanding loan amount, and if the insurance company is unable to pay for reasons related to the insurance policy and/ or the borrower, the bank has the right to claim the outstanding dues from the borrower’s heir/s.

5. Bank’s right for clearance

• The Borrower is irrevocably obliged to settle all the monthly installments due to the Bank, and accepts that the Bank has the right to automatically offset, by direct clearance, any available balances kept in borrower’s accounts held with Attijariwafa bank for repayment of the loan installments, interest, charges and commissions resulting from not repaying one or more installments on their due dates. Any outstanding amount will be charged with the late payment fees mentioned in this contract in addition to any agreed interest calculated from the due date until the full settlement.Borrower has agreed that all his/her accounts, securities, commercial papers, and funds kept or deposited now or in future with the Bank, or any of its branches are considered to be pledged in favor of Attijariwafa bank as a guarantee for the settlement of the loan amount plus interest, commissions and any fees till the full settlement thereof. Bank is entitled to use any credit balance (s) in said accounts, for the settlement of the loan or any dues if the loan duration ends without any partial or total settlement, or in case of occurring any event of default set herein in this contract.

6. Bank’s Records

• The Bank’s books, records and accounts are considered to be evidence against the Borrower regarding the outstanding balance. The borrower acknowledges his/her non-entitlement to dispute its contents, whether at the present or in the future, and for any reason whatsoever.
• Any debit balance confirmation signed by the Borrower is not contested regarding its contents or disputed by the Borrower in future for any reason whatsoever.

7. Bank statements

• Account statements sent by the Bank to the Borrower are deemed accurate and evidence against the Borrower as per their contents as long as they are sent to the borrower and have not been contested within 15 days from the sending date. The borrower agrees that the Bank has the right to exchange his/her data or any data in connection of this contract to the official authorities, governmental entities, the Central Bank of Egypt, the mother company or Attijariwafa bank Group in good faith.

8. Salary Transfer (Applies only to Scheme Loans)

• It is agreed that the Borrower will transfer his/her salary and all his/her dues in the case of retirement and/or resignation from his/her current employer to his/her account held with the bank. The Bank has the right to automatically deduct the available balance kept in said account to apply it towards the repayment of the installments, interest and charges due. The outstanding balance resulting from non repaying one or more installments will be charged with the late payment fees set herein in this contract, in addition to the agreed interest calculated from the due date till the full settlement.

9. Events Of defaults

• It is agreed that the loan amount shall become due and payable wholly including interest, commissions and any other charges without the need of any notification or pursuing legal procedures, if any of the following events cases occurred:
• Failure to pay any installment partially or totally on the due dates.

• Failure to pay interest, commissions, life assurance (if required), charges due on the loan or any other charges thereon, on the due dates.
• If the Borrower fails to pay taxes or any claims due to any Governmental authorities, or become in delay with such payments, or a conservatory or executor attachment or garnishment served against the borrower.
• If any of the submitted data from the Borrower to the Bank, relating to the loan subject matter of this contract and/or its performance, appears to be inaccurate or fraud, whether before or after granting the loan and/or during its validity period.
• If the Borrower breaches any of the contract’s clauses, or any of the approval conditions for granting the loan, or of any of his/her obligation(s) to fulfill and perform any of these conditions.
• If the Borrower becomes bankrupt, insolvent, or a legal action served against him/her, or in case of losing qualification, death (may God forbid), being placed under sequestration or his/her property is placed under reservation for any reason whatsoever.
• If the Borrower had been granted loans or any credit facilities from any other bank for the same purpose of this loan, without obtaining prior written approval from the Bank.
• If the Borrower appears to be unable to fulfill his financial obligations to other Banks or any financial institutions, thus causing such Banks to file complaints against the borrower with any competent Judicial or Administrative entities.

10. Bank’s right for assignment of rights

• The Bank has the right to transfer/assign all or some of any rights arising from this contract to any third party without any objection from the Borrower who acknowledges beforehand his/her acceptance of such transfer or assignment of rights

11. Correspondences

• The Borrower acknowledges that any claim, advice, notice, warnings, and correspondences sent to the borrower from the Bank addressed to his/her address indicated in this contract, or sent to the latest address notified by him/her to the Bank in writing, considered to be effective against himself/herself and productive of all its legal effects, from the sending date either by registered mail confirmed with delivery receipt or express mail.

12. Applicable Laws & Jurisdiction

• This Contract is governed by laws of Arab Republic of Egypt. If failing in amicable solution, parties agreed that all disputes that may arise between them in connection with and/or explanation of and/or performance or execution of this contract or any of its annexes will be referred to the Egyptian Courts.

13. Contract Counterparts

• This contract is written from one original copy in Arabic and English languages, and kept with the bank after being signed by the borrower. Parties agree in advance prior agreed that the Arabic text should prevail if there is any difference in references or explanations.

14. Undertaking & Declaration

• the undersigned below declare and undertake that I have read, understood, and agree on all terms and conditions set herein. I also undertake to provide the bank with all the required documents, and the Information given by me is correct and I declare using the loan given to me and installing it from legal channels abiding by the law of the Central Bank of Egypt.

Article One
Loan Amount
According to this contract and to its terms and conditions. The Bank has agreed to grant Borrower Car Financing Loan by the amount of EGP (Only ……. Egyptian Pounds) to be utilized for the purpose of purchasing new vehicle from Car Dealer, to be credited to Car Dealer’s account directly, subject to a minimum deposit ….% of the vehicle value paid by the Borrower to the Car Dealer directly, the minimum deposit shall not be included in the loan amount.

Article Two

• Loan Amount: According to the above mentioned in Article
• Loan Duration: Months
• Starting Date:
• Ending Date:
• Interest Rate (reducing balance) …….%
• Early Repayment: …….%

Will we charge Irate interest or Irate fees only?

• Administration fees:
• Method and place of payment: According mentioned in Article 5

Article Three
Loan Purpose
Purpose of this loan to be utilized for car financing of purchasing new vehicle from the Car Dealer. Its not permitted to use loan amount unless for this purpose.

Article Four
Prepayment
The Borrower shall be obliged to repay the loan amount with interest, commissions and fees on regular monthly installments (including interests, commissions and fees), the value of each installment EGP (Only ……. Egyptian Pounds) till the full settlement of loan amount, interests & fees. the first installment due on dd/mm/yyyy so forth till settlement of loan amount, in addition to interest charges, commission and fees, In the event of non-repayment by the Borrower of any installment on respective due date fully of partially the remaining installments will fall due and the whole loan in addition to interest charge, commissions and fees will be payable upon demand, The Bank may hence carry out all appropriate procedures to preserve BBE rights against the Borrower, and the bank have the right to repossess the vehicle.

Article Five
The Borrower hereby agreed to definitely and irrevocably now and in future, that the bank has the right to settle from Borrower’s accounts in Attijariwafa bank all interest, commissions, charges and fees mentioned in Article 3 of this contract. and to deduct insurance premium payments of insurance policy pertaining to this loan. It is understood that The Bank may at any time amend annual interest rate in the light of lending and discount rate determined by the Bank’s policy in future, and that account will be debited monthly with all other actual expenses and fees.

Article Six
The Borrower shall be irrevocably obliged to settle monthly installments due to The Bank and the Borrower approve to the Bank the right to automatically offset the available balances in his/her account for repayment of loan installments, interest charges and commissions due to The Bank by clearance of direct deduction between available balances kept in Borrower’s accounts and any dues of the loan amount plus interest charges, commissions and fees, the balance that is overdrawn resulting from not repaying one or more installments will be charged with delay interest mentioned in Article 3 in addition to the agreed interest starting from the due date and until full settlement.

Article Seven
It had been agreed between parties that the application form signed by the Borrower is considered to be an integral part of and completing this contract, both parties are committed to oblige and execute all of its terms and conditions. The Borrower shall provide The Bank without delay all information and documents requested by The Bank.

Article Eight
The Borrower shall not sell – dispose – transfer ownership of pledge – mortgage – license renewal or make any acts in relation with the financed car without requesting or obtaining prior written approval from The Bank. The Borrower agrees that a restriction over the license of the purchased car is placed in favor of the Bank of its assignee (including Car Dealer), as a security for full payment of the total loan amount and any other dues hereunder.

Article Nine
It was agreed upon parties that the loan amount shall become due and payable wholly together plus interest as well as the commissions, expenses, fees and any other charges without notice of any other legal procedures. in any of the following cases happened and the Bank has right to repossess the vehicle in case of any default:

• Failure to pay any of loan installments as indicated in this contract of its due date.
• Failure to pay interest, commissions, or expenses due on the loan or any other charges there on at their respective due dates.
• If it is clarified The Bank that the Borrower is unable to continue implementation in such a manner that would realize the purpose of the loan, or that the ability of the Borrower to repay loan together with its attachments is impaired for any reason whatsoever.
• If the Borrower fail to pay taxes or any claims due to Governmental authorities or be in delay in such payments, of a conservatory or executor attachment served there against.
• If any of the submitted data by the Borrower to the Bank relating to the loan subject matter of this contract or to its execution appear to be inaccurate, whether before the loan was granted or throughout its duration.
• If the Borrower be in breach of any Article of this contract or of any of the conditions of the approval to grant the loan, or of the borrower’s obligation to fulfill and perform any of those conditions.
• If the Borrower become bankrupt, or insolvent. or have a garnishment served against him, or in case of losing qualification, or in case of death, or be placed under sequestration, or his property be put under reservation for any reason whatsoever.
• If the Borrower appears to be unable to fulfill his obligations towards Banks or other financial institutions, causing this such Banks to file complaints against him with competent judicial, Administrative authorities.
• If the Borrower – in order to undertake the purpose for which the loan is granted dispose of or incur real or personal rights thereof, which would impair the Bank collateral or ability of Borrower to repay.

Article Ten
The Bank only shall has the right to transfer all or some of its rights arising from this loan to a third party without prior contest to the Borrower who acknowledges beforehand his acceptance of such transfer, and admits that the debt to the Bank is indivisible.
It is agreed between the Parties that no failure to exercise and no delay in exercising on the part of the Bank or its successors any right power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise of any other right, power or privilege.

Article Eleven
The Borrower had agreed that all his accounts opened in their name at present of which may be opened in future with the Bank or any of its Branches shall be deemed as guaranteeing the loan amount. while the Bank or any of its branches shall be entitled to use the credit balance of any of such accounts, and to apply same in the settlement of the loan subject matter of this contract. including interest, commissions, and expenses, in case of falling due to the expiry of its duration of for any other reason of those indicated in this contract.

Article Twelve
The Borrower has agreed that all of securities, commercial papers and funds deposited now or to be deposited in future with the Bank, or any of its branches shall be considered pledged in favor of the Bank as guaranty for the settlement of the loan plus interest. commissions and expenses until the full settlement thereof.

Article Thirteen
Bank’s registers, records and accounts shall considered as an evidence against the Borrower who acknowledges that he/she shall not except for manifest error, dispute what is recorded therein whether at present or in future and for any reason whatsoever The bank and its employees or officers shall in no case be liable civil or criminal towards the Borrower for execution of this contract except for gross negligence and misconduct.

Article Fourteen
The statements of account and other statements sent by the Bank to the Borrower shall be deemed accurate and evidence against the Borrower as regards their contents as long as not contested the Borrower within 15 days from the date of receiving these statements. The Bank have the right to exchange the information related the account subject matter of this contract with other banks and or official entities such as Government and Central Bank of Egypt or any other party, and the signature on this Contract shall be an authorization from the borrower in this concern.

In addition, the Borrower agrees and gives the Bank full authority to disclose information related to this contract and any rights and obligations related to this contract herein to Bank’s singular and universal successors and or any third party nominated by the Bank including Car Dealer for the implementation of this contract.

Article Fifteen
Any confirmation or endorsement signed by the Borrower as to the debit balance shall not be contested against or the contents thereof disputed by him/her in future for any reason whatsoever.

Article Sixteen
The Borrower acknowledges that any claim advice, notice or note of any correspondence addressed by the Bank to him/her at the address indicated in this contract or at the latest address notified by him/her to the Bank in writing, shall be considered effective against the borrower and productive of all legal effects thereof as from the date of their dispatch through registered or recommended mail, or the express mail.

Article Seventeen
If Failing in amicable solution, all disputes arising between Parties on the construction and or the performance and for execution of this Contract of any of its annexes will be referred to the Egyptian Courts by its degrees. which will settle the dispute in accordance with The Egyptian Law.

Article Eighteen
This contract is in Arabic only.

[ url=”” name=”text test” number=”” target=”” shortcode=”true” /]These Terms and Conditions in addition to the general terms and conditions of opening the account shall constitute the entire agreement between the Bank and the Time Deposit holder who accepts to keep a defined amount of money blocked at the Bank for a specified period.

1. Definitions

The following words and phrases shall have the meaning respectively assigned to them:

The Bank: means Attijariwafa bank Egypt S.A.E

The Terms and Conditions: means these Terms and Conditions that regulate the relationship between the Bank and the Time Deposit customer.

The Time Deposit (TD): means the Time Deposit offered by the Bank with the details specified in the Customer’s application.

The Customer: means the account holder who accepts these Terms and Conditions.

The official Working days: means the official working days of the banks in Egypt which start from Sunday to Thursday of each week except the days of the public holidays.

2. Availability:

• The Time Deposit is available subject to holding/opening a current or saving with the Bank, the Time Deposit will be binding for a period of the above mentioned tenor, the Time Deposit shall not be valid unless the Customer clicks the “Accept” button by which you confirm that you have read and understand these terms & conditions.
• The Bank is obliged to confirm the account holder true identity and reserve the right to decline any Application or deposit

3. Notices and Correspondences

Correspondence material between the Bank and the Customer shall be sent to the mail address specified in the account opening form by regular or electronic mail or by any other means and it shall be deemed valid and binding to the Customer.

4. Interest Calculation

• Interest rate is fixed all along Time Deposit term.
• Interest is calculated on the original balance of the Time Deposit as from the date of tying it.
• In case the interest is added upon maturity to the Time Deposit Customer account held with the Bank, if the maturity date is a non-working day, interest will be credited on the following day, and the Bank reserves its right not to pay any interest on the Time Deposit that is withdrawn before the maturity date.
• In case the Bank receives no written instruction (registered letter, e-mail, fax) from the Customer within three (3) days before the maturity date of the Time Deposit, the Customer hereby authorizes the Bank to renew the Time Deposit at the prevailing rate set by the Bank at the time of maturity without informing the Customer, however it remains up to the Bank to renew the Time Deposit for further period/s or not, .
• The Bank may at its discretion allow the Customer to break the entire Time Deposit or part of the Time Deposit prior to the maturity date, but in this case the Customer will not be entitled for interest of the broken amount.

5.  General

• The Bank may at any time at its discretion break the Time Deposit, subject to notifying the Customer(whether by e-mail or whatsoever form). The value of the Time Deposit shall be sent to the Customer by a bank’s draft cheque.
• The Bank at its sole discretion may vary these Terms and Conditions at any time or modify the Terms and Conditions at any time the Customer accesses the service, this shall be deemed a as an approval of such modifications to the Terms and Conditions.
• These Terms and Conditions are governed by the Egyptian law any dispute arising from the interpretation or the execution of these Terms and Conditions shall be settled through Egyptian Courts.
• The Bank may not be held liable towards the Customer for any decline in the amount of the Time Deposit or the interest due to a deduction of taxes, charges or expenses.
• In the case of Account: The General Terms and Conditions of the Account / Joint Accounts apply regarding the validity of signature in respect to the authority of each party of the Joint Account/Accounts. Each authorized party to the Account /Joint Accounts shall also have the right to submit request to liquidate the Time Deposit before its due date without the permission of the other party / parties.
• Customer hereby acknowledges that he/she has read the content of these Terms and Conditions and the general account opening terms and conditions. Customer irrevocably acknowledges that at any case of breaking the Time Deposit ahead of the Maturity Date, the Customer shall be subject to a penalty calculated on the basis of the Maturity Date by deducting any amount from the available interest amount. In case those amounts are not sufficient to indemnify the Bank, the Bank shall be entitled to directly deduct from the Time Deposit amount.
• Customer understands that any request to break the Time Deposit is not possible to be made or processed through this web-site, and accordingly, Customer shall physically visit a Attijariwafa bank branch in order to apply for a premature breakage of a Time Deposit.