Dear Valued Customer,
In line with our ongoing commitment to serve you better, we will be revising Part I & J of Terms and Conditions for Use of PayNow Corporate with effect from 1 Feb 2024.
Details as follows:
I. Prohibition against Surcharge
1.You agree that you shall not impose a surcharge, special charge, finance charge or similar charge (whether through an increase in price or otherwise) on consumers in connection with all and any PayNow transactions (“Surcharge Prohibition”).
2.You further agree that in the event that you breach the Surcharge Prohibition or we have reasonable grounds to believe that you have breached or have taken steps inconsistent with the Surcharge Prohibition, we shall be entitled in our sole discretion and without liability to suspend and/or cancel the provision of the BOC PayNow Corporate Service.
J. General
1.You agree that we shall be entitled to impose fees and charges for providing the BOC PayNow Corporate Service to you and revise such fees and charges from time to time by providing you with prior notice. Your utilisation of the BOC PayNow Corporate Service will be deemed to be an agreement to and acceptance of any fees and charges imposed or any such revision to these fees and charges.
2.We may assign any or all of our rights and obligations hereunder by notifying you. You may not assign any of your rights and obligations hereunder without our prior written consent.
3.Any delay or failure by us to exercise our rights and/or remedies under these Terms does not represent a waiver of any of our rights. We shall be considered to have waived our rights only if we have specifically notified you of such a waiver in writing.
4.If any provision of these Terms is unlawful or unenforceable under any applicable law, it will, to the extent permitted by such law, be severed from these Terms and rendered ineffective where possible without modifying the other provisions of these Terms.
5.You acknowledge that we have the right to change, restrict, vary, suspend or modify these Terms by providing you with prior notice in such manner as we deem fit.
6.Unless expressly provided to the contrary in these Terms, a person who is not a party to these Terms and Conditions shall not be entitled to enforce any provision of these Terms and Conditions under the Contracts (Rights of Third Parties) Act 2001 of Singapore.
7.These Terms and Conditions shall be governed by and construed in accordance with the laws of Singapore, and you irrevocably agree to submit to the non-exclusive jurisdiction of the courts of Singapore.
If you have any queries, please contact our 24-Hour Customer Service Hotline at 1800 66 95566 (local) or +65 677 95566 (overseas).
Bank of China Limited Singapore Branch
22 December 2023
