Terms and indemnity for Direct Collection
- Lloyds Bank plc shall not be held liable for any loss, damage or delay, however caused, which is not directly due to the negligence of its own officers or servants.
- The choice of collecting bank rests with Lloyds Bank plc, unless specific instructions are given on this form to present through a named bank direct, without the intervention of an intermediary.
- Your completion and our authorisation of a Direct Collection Schedule does not confer any benefit on, and is not enforceable by, any party other than you or us.
- All collections will be subject to the Uniform Rules for Collections International Chamber of Commerce Publication number 522.
- You shall indemnify Lloyds Bank plc as follows in respect of all Direct Export Collections.
TO LLOYDS BANK plc
In consideration of you allowing us to complete the Direct Export Collection Schedule(s) ("the Schedule(s)") and subject to your express online approval to allow us to despatch the Schedule to another branch of Lloyds Bank plc or to another bank, I/we agree to indemnify you against all claims, demands, costs, liabilities, charges, expenses, or losses ("Claims") which you may sustain or incur or which may be brought or preferred against you and which arise directly or indirectly, as a result of our doing so.
In particular (without prejudice to the generality of the forgoing) this indemnity shall extend to all Claims which you may sustain or incur directly or indirectly out of or in connection with the instructions/information put on the Schedule and/or the completion of such Schedules whether or not this was done with our authority. We undertake:
5.1 not to use any scanned or other electronic copy of the Schedules unless you have previously agreed in writing that we may do so. If you do so agree, our above indemnity will also apply to any Claims as a result of the creation and use of such electronic copies;
5.2 to ensure that only authorised persons have access to the systems containing such electronic copies, and that such systems can only be operated in a secure manner;
5.3 not to alter the format or content of the Schedules which you have approved without your written agreement; and
5.4 destroy or delete such electronic copies and/or templates of the Schedules if you require us to do so.
You may debit any sums payable to us pursuant to this indemnity to any account in our name.
We acknowledge that you may terminate the arrangements contemplated by this indemnity immediately upon written notice to us and our obligation under this indemnity shall survive any such termination.
Notwithstanding anything to the contrary in these terms and conditions a customer of Lloyds Bank plc shall be (and shall be deemed to be) entering into a contract with Lloyds Bank plc and a customer of Lloyds Bank Corporate Markets plc shall be (and shall be deemed to be) entering into a contract with Lloyds Bank Corporate Markets plc and all references in these terms and conditions to the "Bank", "us", "we", "Lloyds", "Lloyds Bank" and "Lloyds Bank plc" shall be construed accordingly to give full effect to this clause.
Choice of Law
7.1 Subject to clauses 7.2 and 7.3 below, unless otherwise expressly agreed by the parties in writing, these terms and conditions and all matters arising out of or in connection with these terms and conditions shall be, without regard to principles of conflict of laws, subject to and governed by the laws of the Emirate of Dubai, United Arab Emirates and the courts in the Emirate of Dubai, United Arab Emirates shall have the non-exclusive jurisdiction to settle any dispute which may arise out of or in connection with these terms and conditions.
7.2 The parties agree that the Bank may, upon giving 30 days' prior notice to you (which the parties hereby acknowledge will be (and will be deemed to be) properly given, if the Bank places the notice on the website through which you access your account or by any other means that the Bank deems appropriate), elect that these terms and conditions and all matters arising out of or in connection with these terms and conditions shall, from the date of these terms and conditions, be subject to the laws of any one of the following countries:
Kingdom of Saudi Arabia, State of Qatar, Sultanate of Oman, State of Kuwait, Kingdom of Bahrain or a jurisdiction which is in some way connected to the subject matter of these terms and conditions ("Nominated Jurisdiction") and/or that the courts of a Nominated Jurisdiction will have jurisdiction over these terms and conditions and all matters arising out of or in connection with these terms and conditions.
7.3 If the Bank makes an election pursuant to clause 7.2 then, without prejudice to the matters that have either been already decided by a court or are being considered by a court with competent jurisdiction and without prejudice to the Bank's continuing or accrued rights under these terms and conditions, all matters arising out of or in connection with these terms and conditions shall be decided by reference to the laws and/or by the courts of the jurisdiction notified by the Bank to you.
7.4 By using the product and/or service comprised in these terms and conditions you agree to be bound by these terms and conditions in their entirety and, in particular, agree that this clause 7 is reasonable bearing in mind the nature of the product and/or service provided to you by the Bank.
8.1 If any clause or part of these terms and conditions is found by a court, tribunal, administrative body or authority of competent jurisdiction to be illegal, invalid or unenforceable then that provision shall, to the extent required, be severed from these terms and conditions and will be ineffective without, as far as possible, modifying any other provision clause or part of these terms and conditions and this will not affect any other provisions of these terms and conditions which will remain in full force and effect.
8.2 If any term of these terms and conditions that the Bank considers to be material is deemed to be illegal, invalid or unenforceable, then the parties shall co-operate with each other to incorporate a term into these terms and conditions that complies with the applicable law and as far as possible achieves the same purpose as the aforementioned illegal, invalid or unenforceable term.
- Further Assurance
You shall do and procure the doing of all things the Bank considers necessary to give full effect to the provisions of these terms and conditions including, without limitation to the generality of the foregoing, executing all security and other documents requested to be executed by the Bank from time to time transferring possession of title and other documents to the Bank, assisting to register and uphold the Bank's interests and rights in and to all goods, documents and things over which security is taken or purported to be taken by the Bank from time to time and execute and return all amended versions of these terms and conditions to the Bank as requested by the Bank.