Important Note
Scope
This notice applies to all prospective clients, clients, introducers, facilitators, intermediaries, advisers and counterparties who submit, forward or refer to documentation concerning transactions to which International Finance Bank LTD is not a party. It forms part of the Bank’s published terms and applies whether or not it is referred to in individual correspondence.
The Bank does not review third-party documents
Loan agreements, facility letters, joint venture agreements, purchase contracts, insurance policies, term sheets, offers of finance and comparable instruments between a client or prospective client and a third party are outside the scope of the Bank’s services. The Bank does not review, verify, assess, approve or comment on such documents, whether before or after account opening.
Documents received by the Bank are retained as received for compliance record-keeping purposes only. Receipt of a document is not a review of it. Absence of comment is not approval, endorsement, acceptance or confirmation of any kind, and no such meaning may be attributed to the Bank’s silence.
No advisory relationship
Nothing in correspondence with the Bank creates a legal, tax, insurance or transactional advisory relationship. The Bank does not act as adviser to any party in respect of a third-party transaction and must not be represented as doing so. Parties are expected to obtain their own independent legal advice.
Confirmations and account documentation
Where the Bank issues account confirmations, balance statements, proof of funds or comparable documentation, it does so exclusively for its own account holders, in respect of accounts held with the Bank, under the Bank’s own procedures, formats and published fee schedule, and only on the documented instruction of the account holder.
The Bank does not issue any confirmation for or on behalf of a prospective client, and does not issue ready-willing-and-able letters, capacity or capability statements, blocked-funds undertakings, pre-advices, comfort letters or confirmations of anticipated inflows in support of a third party’s financing, insurance or fee arrangement.
Use of the Bank’s name
The Bank’s name, licence, correspondents and officers may not be cited, listed, forwarded or otherwise represented as involved in, aware of or supportive of a transaction unless the Bank has confirmed its role in writing. This applies to draft agreements, presentations, offers of finance and communications with third parties alike.
Undertakings limiting compliance obligations
The Bank does not enter into non-circumvention, non-disclosure, source protection or similar undertakings that would restrict its ability to identify the parties to a transaction, verify the origin and ownership of funds, communicate with correspondents, auditors, notaries and competent authorities, or discharge its statutory obligations. Any such instrument presented to the Bank is without effect.
Payments in advance of funding
The Bank does not participate in transactions in which an account holder is expected to pay, transfer, pledge, escrow, block or otherwise commit insurance premiums, security deposits, liquidity reserves, activation, verification, wallet or gas payments, arrangement, commitment, brokerage or intermediary fees, in fiat currency or in digital assets, to or for the benefit of a lender, insurer or intermediary before the funds concerned have been irrevocably credited in cleared and freely available funds to the account holder’s account with the Bank.
Incoming funds
No incoming payment can be approved, reserved or guaranteed in advance. All inbound funds are subject to identification of the remitter, source of funds and source of wealth review, sanctions screening and the requirements of correspondent institutions, and may be delayed, declined, returned or reported where those requirements are not satisfied. The Bank accepts no liability for any delay, rejection, cost, loss, penalty or missed deadline arising from the discharge of these obligations, and gives no undertaking as to the timing of any credit.
Sequence
A relationship with the Bank arises only upon submission of a complete account opening application, completion of the Bank’s customer due diligence and written confirmation of account opening by the Bank. Correspondence, meetings, videoconferences and the exchange of documents create no relationship, mandate, commitment or expectation. The opening of an account remains at the sole discretion of the Bank, which is not obliged to state its reasons.
Precedence
This notice prevails over any inconsistent term contained in a document submitted to the Bank by a client, prospective client or third party, and may be updated by the Bank at any time.