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Article I The procedures are formulated to enhance conversion from traditional currency to electronic-currency and provide better financial service to social circles in accordance with Bank Card Business Management Measures issued by the People's Bank of China and relate regulations.
Article II Peony Quasi Credit Card is credit card issued by ICBC and that the Cardholder is required to deposit certain amount of reserved capital. When balance of reserved capital account is not enough for payment, overdrawing can be made within the credit limit specified.
Peony Quasi Credit Card is used only in China and settled in Renminbi. It has functions of credit consumption, transfer settlement and deposit and withdrawal of cash, etc.
Article III Peony Quasi Credit Card is divided into Business Card and Personal Card according to its issuing targets and gold card and Classic according to credit grade.
Article IV A unit can apply for business gold card or Classic (collectively called "Business Card") of Peony Quasi-Credit Card from ICBC issuer (hereinafter referred to as Issuer) with account opening license issued by the People's Bank of China. A unit can apply several business cards but it must provide the specified cardholders.
Any individual who has complete civil capacity can apply for personal gold card or Classic (collectively called "Personal Card") from ICBC issuer with personal valid identity certificate approved by public security department. Principal Card holder of personal card can apply no more than two Supplementary Cards for its spouse or relative with complete civil capacity.
Article V Unit and individual applicant must fill in application form and sign Peony Quasi-Credit Card Application Contract with issuer when applying for Peony Quasi-Credit Card. The issuer will decide whether the applicant is required providing guarantee and what guarantee mode should be provided, whether the card application is approved and which card type is decided according to credit standing of the applicant.
Article VI Guarantee can be warranty, mortgage or pledge. Guarantee scope is all the liability under the cardholder's Peony Quasi-Credit Card (including overdrawn amount within the credit limit and overdrawn principal and interest beyond the credit limit and recovery fees, etc.) Guarantee contract shall be signed if required.
Article VII All the transaction completed with password shall be deemed completed by the cardholder itself by the issuer. E-info records resulted from various settlement transactions with E-info such as password shall be the valid document of the transaction.
As for transaction completed without password, all the transaction documents registered with cardholder's valid identity certificate number and signature are all the valid documents of the transaction.
Article VIII Account capital of the business card is all transferred in from its basic account. Neither cash nor sales income is allowed to deposit in the business card account. Credit limit is not allowed for settlement of commodity transaction and labor supply. If the limit exceeds the floor amount specified by the People's Bank of China, Local Branch of the People's Bank of China should make transfer/remittance.
Personal card account capital can be deposited with cash income or salary capital or other legal labor compensation of the individual. Investment return or other similar income shall be deposited by transfer.
Article IX A cardholder can withdraw from specified ATM with the card and password at most 5 times a day and accumulated amount shall not exceed RMB 5,000.
Article X The card holder should pay annual service fee according to regulations of the issuer. Annual service fee for each gold card is RMB 80, for Classic is RMB 20 and RMB 50.00 in addition to the fee of the Card. No additional cost is required for deposit and consumption by the card holder. The card holder needs to pay service fee of 1% of transaction amount when withdrawing cash or transferring to personal account out of the card application city. And the service fee is minimum RMB 1. A chard holder needs to pay 5‰of service fee of transfer amount for transfer settlement in non-special units out of the card application city, with minimum of RMB 10 and maximum of RMB 500.
Report loss service fee is RMB 40 Per Card and cost for changing a new card is RMB 10 Per Card.
The service fee for disbursement from ATM of other commercial banks is no more than RMB 2 for disbursement in the city of the card application and RMB 2 or disbursement out of the city of the card application.
Article XI Overdrawn limit of gold card account is RMB 10,000 and that of Classic is RMB 5,000. Overdrawn principal and interest shall be returned within 60 days (included) after the bank accounting day of the overdrawn amount. Overdraft Interest shall be calculated at 0.5‰ each day from the accounting day. Credit interest is subject to single interest by month.
Priority of repayment of overdrawn amount by the card holder shall be overdrawn interest and overdrawn principal.
Interest of the deposit in the Peony Quasi-Credit Card is calculated at the current deposit interest rate specified by the People's Bank of China.
Article XII Maximum effective period of the Peony Quasi-Credit Card is 2 years. If the cardholder wants to continue using it upon expiry, new card change procedures should be processed. If the cardholder doesn't want to apply a new card upon expiry, the card holder shall give a notice in writing or otherwise agreed by both parties to the issuer one month before the expiry date. Otherwise, the issuer will deem the cardholder is willing to apply a new card upon expiry. Expired Peony Quasi-Credit Card must not be used but the application contract continues survive. If a cardholder doesn't want to apply a new card or stop using the card midway, it should turn over the Peony Quasi-Credit Card to the issuer and processes the cancellation procedures.
The effective period of the changed new card is the same as the original card.
Article XIII Issuer will have the card account cancelled for the cardholder after receiving cancellation application submitted by the cardholder. Capital in the business card account shall be transferred into basic deposit account when canceling the account.
Article XIV A cardholder should repay the principal and interest of credit and the related fees under the Peony Quasi-Credit Card in time. In case of failure in repayment, the issuer shall have right to collect and recover them according to law.
Article XV The issuer and the cardholder shall both abide by Peony Quasi-Credit Card Application Contract. If either party fails to fulfill the contract, the other party shall have right to investigate responsibility for breach of contract and legal responsibilities according to the Contract and laws. If the cardholder fails to abide by procedures and Peony Quasi-Credit Card Application Contract, the issuer shall have right to disqualify the cardholder and authorize related unit to recover the Peony Quasi-Credit Card.
Article XVI The issuer shall provide the cardholder with consulting, enquiry, reconciliation, loss report and complaint, etc. The request for account enquiry and correction by the card holder shall be replied within 30 days. The issuer shall keep confidence for the credit standing of the card holder (unless otherwise specified by the national laws and regulations).
The card holder shall have right to claim bank statements in the last three months from the issuer. The card holder shall enquiry or issue correct requirement for the inconsistent account if any within 10 days after claiming the bank statements.
Article XVII The cardholder shall provide true and reliable application materials to the issuer and provide guarantee to meet requirements of the issuer, abide by ICBC Peony Credit Card Procedures and fulfill Peony Credit Card Application Contract; properly keep Peony Credit Card and password, shall not rent or lend the Peony Credit Card and shall not refuse due amount with excuse of dispute with special unit. If the mailing address, telephone, residential Address and Occupation are changed, the cardholder shall give a notice to the issuer in writing or other way agreed by both parties.
Article XVIII If the card holder loses the Peony Quasi-Credit Card, it should handle written loss report or telephone loss report in time in the nearby issuer. Written loss report is formal one. Issuer only assists to prevent loss for telephone loss report and takes no responsibility for it. Any economic loss occurred before loss report and during the period after the issuer accepts written loss report and within 24 hours (included) of the next day shall be borne by the cardholder itself. After loss report, if the cardholder needs to apply for a new card, it can handle the related procedure with written loss report application form and its own ID Certificate.
In case of password loss, the cardholder shall apply for reset password in witting from the issuer with its own valid ID certificate.
Article XIX Peony Emporiums all accept Peony Quasi-Credit Card and fulfill the Peony Quasi-Credit Card Contract.
Article XX Modification or adjustment of interest rate, charge items and Fee Schedule of the Peony Quasi-Credit Card comes into effect upon being published. No additional notice is given.
Article XXI The procedures are construed and interpreted by ICBC and comes into effect after approval by the People's Bank of China, so are the modifications.
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