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Peony Card Application Contract Based on knowing and understanding of Peony Card Regulation and every clause of the Agreement, Peony card applicant (hereinafter referred to "party A") voluntarily applies for peony card. The following agreement is made about matters concerning party A applying to card issuing institution of ICBC (hereinafter referred to as "party B") for use of peony card after an consensus is made between party A and party B through consultation. I. Party A warrants that all data provided to party B are true, reliable and agrees that party B investigates party A's credit standing, property and other conditions from relevant departments, organizations and individuals. II. Party B can determine whether it requires party A to provide certain right mortgaged guarantee based on party B's application and credit standing. Where right mortgaged guarantee is provided, the maturity date of mortgaged right should exceed 30 days after maturity date of peony card. Where party A continues to use peony card after the maturity date, relevant term transfer and mortgage renewal procedures should be handled for this right mortgage. III. Party B has the right to make upward or downward adjustment to the line of credit of party A's peony card account according to changes of party A's consumption, repayment record and credit status. After the line of credit is adjustment, party B will notify party A of the same in account statement. IV. After receiving peony card, party A should immediately sign at the back of the card and use the signature when using the card, otherwise, losses incurred thereby shall be borne by party A. For mail orders, on-line shopping and hotel consumptions that are not timely itemized in accountant bill, for which the signature needs not to or cannot be made due to transaction practice or special transaction nature, party A shall not refuse to make payment by reason that there is no signature on transaction document or there is no transaction document. V. Party A shall bear all the debts incurred by his using of the peony card (including auxiliary card) and party B has the right to deduct all transaction amount, interest and fees (such as overrun fee, delay charge, annual fee, service fee, recourse fee, etc.) produced by party A's using of peony card (including auxiliary card) from party A's account. VI. Peony International Credit Card Use Clause (I) For transactions other than party A's cash and account transfer, the period from the date of transaction to the date of repayment on maturity notified by account statement (hereinafter referred to as date of repayment on maturity) (inclusive) is the interest free repayment period. The date of repayment on maturity is the 25th day after the account statement is generated. If party A has paid all amount payable before the end of operation at the date of repayment on maturity (subject to transaction date, same as hereinafter), it needs not to pay overdraft interest, otherwise, party A shall pay overdraft interest from the date of overdraft transaction to the date on which repayment is made according to interest rate stipulated by the People's Bank of China. (II) Party A may repay the minimum repayment amount indicated on account statement of card issuing institution and the minimum repayment amount shall not be less than 10% of overdraft balance. If party A fails to make repayment in full before the date of repayment on maturity (inclusive), it cannot enjoy interest free repayment period; interest accrues on the paid part from the date of overdraft transaction to the date on which repayment is made and interest accrues continuously on the unpaid part from the date of overdraft transaction. Overdraft interest accrues monthly by compounding. If party A fails to pay the minimum repayment amount before the end of operation at the date of repayment on maturity, besides paying overdraft interest calculated as above, party A shall also pay 5% of the unpaid part of minimum repayment amount as delay charge. If party A fails to pay the minimum repayment amount in full before the end of operation at the date of repayment on maturity for two times (inclusive) in succession, party B is entitled to suspend the use of the card. (III) Party A cannot enjoy the interest free repayment period for cash withdrawal or transfer in accounts with line of credit and shall pay overdraft interest (five ten-thousandth of the used amount per day) for days from the date of overdraft transaction to the date on which repayment is made. (IV) Where party A uses line of credit over the amount approved by party B, if it fails to pay the part in excess of the line of credit before the end of operation at the date of account overrun (i.e. the date on which party B charges the transaction amount to account), it shall pay 5% of the amount in excess as overrun charge. (V) No interest accrues on deposit in the account of peony international credit card. VII. Peony Credit Card Use Clause (I) For transactions other than party A's cash and account transfer, the period from the date on which bank charges to account to the date of repayment on maturity notified by account statement (hereinafter referred to as date of repayment on maturity) is the interest free repayment period. The date of repayment on maturity is the 25th day after the account statement is generated. If party A has paid all amount payable before the end of operation at the date of repayment on maturity, it needs not to pay overdraft interest, otherwise, party A shall pay overdraft interest from the date on which bank charges to account to the date on which repayment is made according to interest rate stipulated by the People's Bank of China. (II) Party A may repay the minimum repayment amount indicated on account statement of card issuing institution and the minimum repayment amount shall not be less than 10% of overdraft balance. If pay A pays the minimum repayment amount, party B only collect the overdraft interest on the unpaid part from the date on which bank charges to account to the date on which repayment is made, and overdraft accrues monthly by compounding. If party A fails to pay the minimum repayment amount before the end of operation at the date of repayment on maturity, besides paying overdraft interest calculated as above, party A shall also pay 5% of the unpaid part of minimum repayment amount as delay charge. If party A fails to pay the minimum repayment amount in full before the end of operation at the date of repayment on maturity for two times (inclusive) in succession, party B is entitled to suspend the use of the card. (III) Party A cannot enjoy the interest free repayment period for cash withdrawal or transfer-in accounts with line of credit and shall pay overdraft interest (five ten-thousandth of the used amount per day) for days from the date on which bank charges to account to the date on which repayment is made. (IV) Where party A uses line of credit over the amount approved by party B, all the amount payable in account cannot enjoy interest free repayment period; if it fails to pay the part in excess of the line of credit before the end of operation at the date of repayment on maturity, it shall pay 5% of the amount in excess as overrun charge. (V) No interest accrues on deposit in account of Peony Credit Card. VIII. Peony Quasi-Credit Card Use Clause (I) Overdraft term of Peony Quasi-Credit Card is 60 days from the date on which bank charges to account. Five ten-thousandth per day simple interest accrues on overdraft from the date on which overdraft is charged to account. (II) Interest accrues on deposit in account of Peony Quasi-Credit Card according to demand deposit interest rate and interest accruing method stipulated by the People's Bank of China. IX. Party A shall handle card start-up procedure after receiving peony card. Party A must well keep its password. All the transactions made with password shall be deemed as done by party A itself. All electronic information records generated from various settlement transactions with electronic information such as password shall be the effective proof of such transactions. Risks and losses caused by improper keep of password by party A or auxiliary card holder shall be borne by party A itself. For any transaction made without password, transaction proof on which cardholder's signature is recorded shall be the effective proof for such transaction. X. Party A shall repay its debt within the repayment time stipulated by party B. If party A still fails to paid off its debts after party B's dunning for so doing, party B is entitled to suspend the use of the card. Party B is entitled to exercise the right of pledge or deduct relevant amount from any account of party A opened at ICBC. Interest loss incurred by party B's exercise of right of pledge or right of offset shall be borne by party A itself, and party B reserves the right to exercise recourse according to legal proceedings. XI. Party A shall not refuse to pay the amount owed to party B by the reason that disputes arise between it and the card accepting organizations. Party B has the right to suspend the use of peony card by party A at any time based on good cause at its own discretion or the card's risk management and control factor. XII. If payment and receipt transactions happen in party A's use of the peony card, party B shall provide party A with account checking service. Party A shall timely check the accounting; if there is any doubt, it shall make request to check the unconformable account or make request for correction before the date of repayment on maturity and shall provide proofs according to party B's requirements. If party A still receives no account statement 10 days after the date on which the account statement is printed out, it shall timely ask for account statement to party B, otherwise, party A shall be deemed as has received the account statement. Party A shall not refuse to pay principal and interest and relevant fees by reason that it receives no account statement or gets no notice. XIII. If content filled out in application form by party A (such as work unit and address, communication address or telephone, resident address, ID card number) changes, party A shall immediately notify party B of the same in writing or in other forms accepted by party B to handle data alteration procedure, otherwise losses caused thereby shall be borne by party A. XIV. If party A gets its peony card lost, it should timely make loss reporting by telephone or make written reporting at an ICBC business office. Party A bear no responsibility for transactions happened after loss reporting is completed. Loss reporting procedure of peony international credit card is deemed as completed after loss reporting by writing or by telephone is made and confirmed by party B; loss reporting procedure of Peony Credit Card and Peony Quasi-Credit Card shall be deemed as completed after written loss reporting is made and confirmed by party B. Where losses incurred after party A's peony card is lost, under any of the following circumstances, party B bears no responsibility: (I) Losses incurred before loss reporting procedure is completed; (II) Party A cheats in conspiracy with others or has other dishonest acts; (III) Party B's investigation is refused by party A. XV. The maximum term of peony international credit card is 5 years and the maximum term of Peony Credit Card and Peony Quasi-Credit Card is 2 years. If party A continues to use peony card, it should handle card renewal procedure. If party A does not want to use the card any more after maturity of peony card, it should notify party B of the same in writing or in other forms accepted by party B one month in advance. Otherwise, party B shall deem that party A is willing to renew the card upon maturity and is entitled to collect annual fee directly from party A's account. Peony card out of date cannot be used any more, but the Application Agreement is still valid. Card issuing organization still reserves the administration authority and right of recourse to peony card. If party A does not renew card or stops to use peony card in midway, it should paid off its debts and return the card to party B and handle account cancellation procedure according to regulation. XVI. Ownership of peony card belongs to party B. In any of (not limited to) the following circumstances, party B can suspend party A's use of peony card without the need to give notice to party A, and at the same time can take back the peony card by itself or relevant organization authorized by it and exercise recourse to the amount unpaid off by party A. (I) Party A breaches provision of the Agreement and regulations; (II) Party A's credit status deteriorates; (III) Any of the following circumstances happens to the guarantee under the Agreement and party A fails to provide party B with guarantee acceptable to party B: 1. Guarantee contract is cancelled in midway; 2. Pledged right is damaged, destroyed or devalued markedly, or there is dispute about ownership arising. Party B is entitled to stop payment to peony card and party A shall not ask party B to take responsibility by the reason that party B fails to stop payment timely when any of the above circumstances happens. XVII. Party A shall well keep peony card after receiving it and shall not lend or lease out the peony card. XVIII. Party B will handle account cancellation procedure for party A according to relevant regulations 30 days after accepting party A's application for account cancellation. Party A still should repay debt happened from the date on which application for account cancellation is made to the date on which the account is formally cancelled. XIX. If party B does not give its consent to party A's application for peony card, application form and data attached shall not be returned also. XX. Party A can apply for two auxiliary cards at most for its spouse, parents and children with full capacity for civil conduct or suspend the use of peony card by holder of auxiliary card. Party A shall bear all debts happened under its auxiliary cards and shall be responsible for timely returning the peony card whose use is suspended to party B. XXI. The right to interpret the Agreement resides in party B. Disputes between party A and party B in performing the Agreement shall be resolved through consultation by both parties; if consultation fails and legal proceedings is lodged, the case shall be governed by the people's court where party B is located. XXII. Clauses of the Agreement are applicable to Peony Quasi-Credit Card, Peony Credit Card and peony international credit card if without clearly indicated card type. This Agreement is applicable to relevant regulations of the People's Republic of China and the People's Bank of China. Matters not mentioned in the Agreement shall be handled according to ICBC Credit Card Regulation, Business Regulation, financial conventions and relevant regulations of the state about foreign exchange administration. XXIII. The Agreement takes effect from the date on which it is approved by party B and ceases effect on the next day to the date on which party A's account is cancelled. Supplementary Agreement of Peony Card Application Contract I. ICBC card issuer (hereinafter referred to as Party B) provide free traffic accident insurance service for peony press card holder (hereinafter referred to as Party A). When Party A make payment for traffic tickets in full amount with peony express card, Party A can get free traffic accident insurance presented by Party B. Insurance amount: RMB 1 million for gold card and RMB 500,000 for common card. (I) Any enquiry, complaints, report and claim process related to traffic accident insurance shall be processed by insurance company. Any disputes of Party A arising from the traffic accident insurance has nothing to do with disputes, Party A must directly negotiate with the insurance company for settlement. For details of information and contact of the insurance company, please see Peony Express Card Use Guide and Rights and Interest Manual. Party A shall properly keep ticket purchase receipts and counterfoil of traffic tickets as basis for claim. (II) Effective period of traffic accident insurance is one year. Insurance period starts from zero hour after the day you receive the card. When your insurance expires, and you don't get notice the insurance service will automatically renewed for another year. (III) If Party A cancels its peony express card or Party B cancels Party A's cardholder qualification, Party A shall not enjoy the traffic accident insurance service from zero hour of the next day of the formal cancellation of the peony express card. Traffic accident insurance death and accident disability insurance money. Accident death insurance money beneficiary is the first legal heir of the insured. If the insured holds objection on the above appointment, he can directly go to Insurance Company to go through procedures for alteration of insurance money beneficiary after receiving the peony express card. "Payment of public-traffic ticket in full amount" refers to that the tickets for all public traffic means get by the cardholder are purchased with peony express cards, excluding cash or check, etc. "Public traffic means" refers to airplane, train, ship and bus. II. Party B Will pay SOS membership royalties for Party A to SOS company by singing contract with International SOS (Hong Kong) Co., Ltd. (Hereinafter referred to as "SOS" Company), especially providing SOS global support service of peony express card. For details please refer to Peony Express Card Use Guide and Rights and Interest Manual. (I) SOS Company is provider of peony express card SOS service and Party A must strictly follow regulations of SOS Company when using SOS service. Party A has right to independently decide whether to use peony express card SOS service and choose specific service items. Party A's disputes arising from using peony express card SOS service have nothing to do with Party B. Party A shall directly negotiate with SOS Company for settlement. (II) SOS Company provides general information and consultancy service for free to peony express card customers and other service fees shall be directly paid to SOS Company by the means accepted by SOS Company by Party A. Besides membership royalties, Party A shall not undertake any cost related to use of global SOS service. (III) If Party A cancels its peony express card or Party B cancels Party A's cardholder qualification, Party A shall not enjoy the SOS service of peony express card from zero hour of the next day of the formal cancellation of the peony express card. III. The service specified in above Section I and Section II is the value-added service presented by Party B to Party A. Party B will give Party A an notice if Party B will provide no more above service or change the above service contents. The notice will come into effect immediately upon giving without approval of Party A. V. Party A agrees Party B give necessary information about Party A and its affiliated card holder to company signing contract with Party B with respect to provision of service to Party A so as to provide service to Party A directly. |
