ONLINE TRADE SERVICES (FED DIGITRADE PORTAL) Terms and Conditions

GENERAL TERMS AND CONDITIONS

1. Applicability and Interpretation
   These Additional Terms and Conditions shall form an integral part of the Application Form and the Terms and Conditions governing Corporate Internet Banking and shall be read in conjunction therewith. In the event of any inconsistency between these Additional Terms and Conditions and any specific terms governing particular services, such specific terms shall prevail to the extent of such inconsistency.
2. Scope of Services
   The Online Trade Services facilitate submission, receipt, processing and tracking of requests relating to - Outward Remittances, Inward Remittances, handling of Inland, Import and Export Bills (including acceptance, payment and extension requests), handling of Inland and Import Letters of Credit (including issuance, amendment and cancellation requests), handling of Inland and Foreign Bank Guarantees (including issuance, amendment and closure requests), issuance of Standby Letters of Credit (SBLCs) and Buyers' Credit, foreign exchange rate and forward contract bookings, EDPMS/IDPMS closure and regularization, Trade finance documentation, Foreign exchange related declarations, any additional services introduced by the Bank from time to time. The Bank may add, modify, withdraw or discontinue any service through publication in its official website or any other communication channels.
3. Authorization and Binding Effect
   All Trade Instructions submitted under the Online Trade Services using valid credentials shall be deemed to have been duly submitted by the Customer and shall be binding upon the Customer. The Bank shall be entitled to rely upon and act upon such instructions without any further verification. The Bank shall process and execute transactions based on the details of the authorised user(s) nominated by the Customer who have been duly authorised by the Customer through a valid Board Resolution as communicated to the Bank in the application/request submitted for availing the Online Trade Services. The Bank shall be entitled to rely upon and act on such instructions without any further verification
4. Customer Infrastructure and System Responsibility
   The Customer shall ensure that it maintains confidentiality of credentials, adequate and secure systems, devices, infrastructure, internet connectivity, and security controls required for accessing and using the services. The Customer shall verify accuracy of all uploaded information and supporting documents, comply with FEMA, RBI directions, sanctions regulations, anti-money laundering laws and all applicable regulations and maintain adequate records relating to transactions. The Bank shall not be liable for any delay, failure, or loss arising due to inadequacy, malfunction, or failure of the Customer’s systems or connectivity.
5. Right to Seek Additional Information and Documentation
   The Bank shall have the right, at its sole discretion, to require the Customer to furnish additional documents, information, or clarifications at any time in relation to any transaction or service. The Bank reserves the right to suspend, withhold, or reject any transaction pending satisfactory compliance with such requirements. Submission of request under the Online Trade Services shall not constitute an obligation upon the Bank to process any transaction.
6. Bank Records as Conclusive Evidence
   The Customer acknowledges that the records maintained by the Bank, including electronic records, transaction logs, and system data, shall be final, conclusive, and binding evidence of all transactions and instructions. Unless disputed within such time as may be prescribed by the Bank, such records shall be deemed to have been accepted by the Customer.
7. Audit, Inspection, and Verification Rights
   The Customer agrees that the Bank and/or any regulatory or statutory authority shall have the right, at any time, to conduct inspections, audits, or verifications relating to transactions or services availed by the Customer. The Customer shall provide full cooperation and furnish all required documents and records for such purposes.
8. Data Protection and Confidentiality
   The Customer consents to the collection, storage, processing and sharing of information uploaded during the online services for service delivery, regulatory reporting, compliance monitoring, fraud prevention, audit and risk management purposes. The Bank implements reasonable security measures for protection of customer information.
9. General Document Retention Obligation
   The Customer shall retain copies of documents, records, and data relating to transactions undertaken through the platform for such period as may be required under applicable laws or as may be specified by the Bank from time to time.
10. Security Incidents
    The Customer shall immediately notify the Bank upon discovery of credential compromise, unauthorized access, cybersecurity incidents, fraudulent transactions, suspected breaches affecting the Services. The Customer shall cooperate with the Bank in the investigation and mitigation of such incidents.
11. Limitation of Liability
    The Bank shall not be liable for any loss arising from: (i) incorrect information submitted by the Customer; (ii) unauthorized use of credentials; (iii) system failure beyond the Bank's reasonable control; (iv) internet, telecommunication or network interruptions; (v) delays attributable to regulatory, correspondent banking or statutory requirements.
12. Indemnity
    The Customer shall indemnify, defend and hold harmless the Bank, its directors, officers and employees from and against all actions, claims, liabilities, losses, damages, costs and expenses arising out of or in connection with: (i) use of the Online Trade Services; (ii) breach of these Terms; (iii) violations of law by the Customer; (iv) inaccuracies in customer submissions; (v) acts or omissions of authorized users.
13. Suspension and Termination
    The Bank may suspend or terminate access under the Online Trade Services, with or without notice, where security concerns arise; regulatory directions require such action; fraudulent or suspicious activity is detected; the Customer breaches these Terms.
14. Amendments
    The Bank may amend these Terms from time to time and such amendments shall become binding upon publication through the Bank's website or other communication channels.
15. Governing Law and Jurisdiction
    These Terms shall be governed by and construed in accordance with the laws of India. The courts having jurisdiction over the branch maintaining the relevant customer relationship shall have exclusive jurisdiction to adjudicate disputes arising hereunder.