1. The laws and regulations of Nepal, directives of NRB and customs and procedures common to banking industry in Nepal will apply to accounts opened with the Finance.
2. The Finance reserves the right to amend the rules relating to interest rate, minimum balance, fee/ charges etc. at any time as the Finance deems necessary with or without prior notice to the account holder or public.
3. Commissions and/or service charges may be levied by the Finance for account operation as per the Finance's internal policy.
4. If there is no transaction in the account for prescribed period set by the Finance, the status of the account shall be changed into dormant. For the release of the dormancy of the account and to make the account operative, the account holder has to be self - present in the Finance and has to instruct the Finance in writing for the same.
5. The Finance shall have no liability or responsibility for loss or damage incurred to the account holder(s) in the event of any failure interruption or delay in performance of any instruction resulting from failure or of or computer system or from any circumstances resulting from Acts of God whatsoever not reasonably under the Finance's control.
6. Any changes in the address/Phone No./E-mail or constitution of the account holder should be immediately communicated to the Finance. The Finance shall not be responsible for delay or non- delivery of letter, e-mail or other communication sent by the Finance to the Account Holder due to any chances in information provided.
7. Account may be closed by giving prior notice to the Finance. The Finance may however at its own instance or, at the instance of any court or administrative order, or otherwise close, freeze or suspend dealing in any of the account without giving prior notice to the account holder.
8. The funds in an account would be considered by the Finance to be security for all the obligations (present or future) of the account holder to the Finance and in the event of the dishonor of such obligations by the account holder, the Finance is entitled to utilize or set off such funds against the obligations of the account holder to the Finance without giving notice to the account holder.
9. Statement of account will be provided on demand. Finance will charge its standard rate of charges on demand of duplicate/ repeated statement.
10. This application shall be subject to the approval of the Finance. The Finance shall be entitled at its sole discretion to reject this application or any part thereof without furnishing any reasons.
11. After the minor becomes major, if the account holder himself/herself along with the guardian (A/C operator) isn't present in the Finance to update the signature along with his/her citizenship, the Finance shall restrict the guardian to operate such accounts.
12. I/ We understand that cheque should be written for the balance available in the account. If the cheque becomes dishonored due to insufficient balance, the Finance may deduct charges for cheque return from my/ our account and also blacklist me/ us in the record of Credit Information Bureau as per NRB directives.
13. I/ We hereby declare that account at ICFC Finance Limited is opened with the monies which have been earned from legal means. All transactions into the account shall remain legal and the account shall not be used for the purpose of money laundering. If the Finance knows or suspects that the account is being used to process the proceeds of crime, the Finance is obliged to report the fact and nature of its knowledge and suspicions to the concerned authority.
14. I/ We agree, that the account opened through online medium will be debit restricted until and unless I personally visit the concerned/nearby branch for completing the account opening formalities to normalize the account operation as regular.
15. I/We have read and understood the rules, terms and conditions mentioned in this form for conducting the Account and agree to abide by such rules, terms and conditions.
