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TERMS AND CONDITIONS

1. Business Exclusive Rewards Promo (“Promo”) is open to all Small and Medium Enterprises (SMEs) in the Philippines (defined as companies with annual turnover of USD 25,000,000 and below), which either do not have existing current or savings accounts (“CASA”) with Standard Chartered Bank (“Bank”) or are willing to top up their existing CASA during the Promo period.

2. Promo period is from September 1, 2008 to March 2, 2009 (“Promo Period”).

3. To avail of an Exclusive Reward, the new-to-bank client* or the existing client who is willing to top up its CASA balances should deposit, during the Promo Period, at least PHP 1,000,000 or USD 50,000 (“Rewards Deposit”) to a Savings or Checking Account** and maintain the same for a minimum holding period of 240 days from the booking date for new accounts or deposit date for existing accounts (“Retention Period”).

*For new-to-bank clients, the Promo cannot be availed in conjunction with any Cash Management service.

**Participating deposit accounts include USD and PHP regular Checking or Savings accounts only.

4. Whether and which of the client’s deposits will qualify as a Rewards Deposit shall be determined by computing for the incremental deposit against the period-end balance of the relevant account on June 30, 2008 (“Period-End Balance”).

Rewards Deposit Computation:

For existing CASA clients who would like to avail of the Promo, an additional deposit of at least PHP1,000,000 made during the Promo Period is required for the client to be eligible. The deposit amount shall be computed as the difference between the actual balance of the account on the deposit date and the Period-end Balance of the same account on June 30, 2008.

For example, an existing client had an actual balance of PHP2,000,000 on June 30, 2008 (this represents his Period-end Balance) and his account balance has grown to PHP3,000,000 by September 27, 2008. On said date, the client is eligible to avail of the Promo, as the incremental deposit on such date is equivalent to the minimum amount of the required Rewards Deposit: PHP1,000,000 (PHP3,000,000 – PHP2,000,000). Conditioned on client’s compliance with the Retention Period, the client will be rewarded with 1 unit each of 29” Samsung Flat Screen TV CT-29K40 with TV rack + Coby DVD Player 209.

For clients who are already enrolled in the Promo and would like to avail of further Exclusive Rewards during the Promo Period, an additional deposit of at least PHP1,000,000 is required for the client to avail of additional Exclusive Rewards.

Each Rewards Deposit shall be maintained for 240 days, counting from the date the relevant deposit qualifies as a Rewards Deposit.

For example, a client with an actual balance of P1,000,000 on June 30, 2008 has an actual balance of PHP2,000,000 on September 30, 2008. The client’s deposit of an additional PHP1,000,000 on October 10, 2008, gives him a total balance of PHP3,000,000. If the client had not previously availed of any Exclusive Reward and conditioned on client’s compliance with the Retention Period, the incremental deposit amount of P2,000,000 (PHP3,000,000 – P1,000,000) entitles the client to either 2 units each of 29” Samsung Flat Screen TV CT-29K40 with TV rack + Coby DVD Player 209 or
1 unit each of HP Pavillion A6540 PC + Epson Stylus T-10.

5. Client’s compliance with the Retention Period shall be determined at the end of every calendar month in the Retention Period by computing for the variance in monthly Average Daily Balance (ADB) versus the Period-End Balance of the relevant account.

Average Daily Balance (ADB) – is computed as the sum of the daily End-of-Day Account Balances of the CASA over the relevant period divided by the number of calendar days for such period. Unless otherwise warranted, the ADB is computed at the end of every calendar month.

For example, the ADB of a CASA opened on September 15, 2008 for the first and second month of the Retention Period shall be computed as follows:

ADB ending September =

End-of-day Account Balance on Sep. 15 + End-of-day Account Balance on Sep. 16 + End-of- day Account Balance on Sep. 17 +…..+ End-of-day Account Balance on Sep. 30

16 days

ADB ending October =

End-of-day Account Balance on Oct. 1 + End-of-day Account Balance on Oct. 2 + End-of-day Account Balance on Oct. 3+…..+ End-of-day Account Balance on Oct. 31, 2008

# of Calendar Days in the month of October

6. Each Rewards Deposit of PHP1,000,000 or USD50,000 (for purposes of this Promo, each incremental deposit in excess of or in addition to a Rewards Deposit and amounting to at least PHP1,000,000 or USD50,000 shall in itself be deemed a Rewards Deposit), which the client maintains for the Retention Period, entitles the client to corresponding Exclusive Rewards packages, set forth in this Exclusive Rewards Promo Brochure

***For any Rewards Deposit of at least PHP 2,000,000 or USD 100,000 (in increments of PHP 1,000,000 and USD 50,000 respectively), the client shall have the option to choose from the appropriate Exclusive Rewards packages.

To illustrate: A Rewards Deposit of PHP 4,000,000 shall entitle the client to any of the following options:

Option A: 1 unit each of Sony VAIO VGN-CR323 + Western Digital External HDD 160 GB + Genius NetScroll 100 Optical Mouse, worth PHP60,000

Option B: 2 units each of HP Pavillion A6540 PC + Epson Stylus T-10, worth PHP30,000 each, or a total of PHP60,000

Option C: 1 unit of Delonghi Espresso Maker EAM 4000 and 1 unit each of 29” Samsung Flat Screen TV CT-29K40 with TV rack + Coby DVD Player 209, worth PHP45,000 and PHP15,000 respectively, or a total of PHP60,000

Option D: 4 units each of 29” Samsung Flat Screen TV CT-29K40 with TV rack + Coby DVD Player 209, worth PHP15,000 each or a total of PHP60,000

7. For each month during the Retention Period that the monthly ADB of the relevant account falls below the required monthly ADB (an amount equivalent to the sum of all Rewards Deposits required to be maintained for such month), the Bank shall – without need of any further notice or consent – debit from the client’s account a charge (“Deficiency Charge”) of PHP600.00 for every PHP100,000 or fraction thereof, of the deficiency relative to the required monthly ADB.

8. The client undertakes and warrants to the Bank that it shall – for the Retention Period corresponding to each Rewards Deposit – maintain an amount in the relevant account equivalent to the cost of the claimed Exclusive Reward (“Rewards Cost”, set forth in the table below). For this purpose, the client unqualifiedly authorizes the Bank to dishonor and decline without need of any notice or consent, any transaction which may result in the relevant account balance falling below the cumulative Rewards Cost required at such time. The Bank shall not be liable for any loss, injury, or damage that the client or any person may suffer as a result of a dishonored or declined transaction pursuant to this Promo condition.

PHP		USD
Rewards Deposit	Rewards Cost	Rewards Deposit	Rewards Cost
1,000,000	15,000	50,000	375
2,000,000	30,000	100,000	750
3,000,000	45,000	150,000	1,125
4,000,000	60,000	200,000	1,500
5,000,000	75,000	250,000	1,875

9. In the event that by debiting a Deficiency Charge, the account balance shall fall below the corresponding cumulative Rewards Cost required for such period, the client shall be required to make a deposit to the relevant account within three (3) days from notice, an amount sufficient to cover the Deficiency Charge and any other applicable charges or penalties, as well as leave a balance in the account in an amount at least equivalent to the relevant Rewards Costs. The Client’s failure to timely make the proper deposit shall result in the full amount of the relevant Rewards Costs being immediately debited from the client’s account. This is without prejudice to the Bank’s right to recover any shortfall or other outstanding amounts properly due from the client.

10. Should a client wish to exit from the Promo anytime during the Retention Period, the client shall submit a written notice so informing the Bank and authorizing the latter to immediately debit from the client’s relevant account the full amount of the Rewards Cost for the Exclusive Rewards pertaining to such Rewards Deposits which have not been maintained for the Retention Period.

11. Upon each Rewards Deposit made in accordance with the terms of this Promo, the client will be entitled to corresponding Exclusive Rewards items which shall be delivered to the client’s address as reflected in the Bank’s records. The client shall execute an Authorization Letter indicating the person authorized to receive the Exclusive Rewards (“Authorized Receiver”) at the said address. The Authorized Receiver shall inspect and test each Exclusive Rewards item prior to acknowledging receipt thereof; as such receipt shall evidence the satisfactory condition of the item at time of receipt. Each Exclusive Rewards item is subject to product availability and cannot be replaced once delivered, save for claims properly covered by the product warranty.

12. The client authorizes the Bank to exclusively and directly coordinate with Abenson for the delivery of the Exclusive Rewards. Delivery charges within Metro Manila and Metro Cebu shall be waived. Delivery to locations outside Metro Manila or Metro Cebu shall be subject to applicable delivery fees imposed by Abenson and shall be shouldered exclusively by the client, such charges to be automatically (without need of notice of consent) debited from the client’s bank account maintained with the Bank. The Company hereby agrees to hold the Bank free and harmless from any loss, damage, claim or liability arising from or incidental to the said delivery. The Bank shall not be responsible for addressing any complaints, disputes, or follow-ups pertaining to a delivery and the same shall be directed to Abenson.

13. All account openings are subject to existing policies and procedures of the Bank. The Bank’s existing documentary requirements for CASA opening of SMEs will apply.

14. In case of any disputes, the decision of the Bank shall be considered final.