Terms and Conditions
General Terms and Conditions of Business
Version 2022.1
These General Terms and Conditions govern the relationship between International Finance Bank LTD and its clients. They apply to every account, service and transaction unless a separate written agreement between the Bank and the Client provides otherwise.
1. Jurisdictional Scope
1.1 International Finance Bank LTD is AOFA licensed and established in Anjouan, Union of the Comoros, and holds Full Banking Licence A No. L1149. The Bank is not authorised as a credit institution in the European Union or the European Economic Area and does not represent that it holds any such authorisation.
1.2 Nothing on the Bank’s website, in these Terms or in any related material constitutes an offer, solicitation, invitation or promotion to provide banking or financial services in any jurisdiction in which such offer or provision would be unlawful or would require an authorisation, registration, licence, branch or other establishment which the Bank does not hold.
1.3 The Client acknowledges that the Client approached the Bank on the Client’s own initiative and was not individually solicited by the Bank, or by any introducer or intermediary acting for the Bank, to apply for the services requested, except where such solicitation is permitted under the law applicable to the Client.
1.4 Access to the Bank’s website, correspondence with the Bank and participation in any videoconference or consultation do not establish a banking relationship and create no entitlement to an account or to any service.
1.5 The availability of any service is subject at all times to applicable law, regulatory requirements, jurisdictional eligibility, client eligibility and the acceptance of the Client by the Bank. 2. Definitions
2. Definitions
In these Terms, unless the context requires otherwise:
“Account” means any account of any type held by the Client with the Bank, including current, deposit, brokerage, precious metal, escrow, custody and segregated accounts. “Authorised Person” means a natural person notified to the Bank in writing by the Client as entitled to give Instructions on an Account, in the form and by the process specified by the Bank.
“Bank” means International Finance Bank LTD, Anjouan, Union of the Comoros.
“Banking Day” means a day other than a Saturday, a Sunday or a public holiday in the Union of the Comoros on which the Bank is open for the general conduct of banking business.
“Client” means the natural or legal person in whose name an Account is opened or in whose name an application for an Account has been submitted.
“Fee Schedule” means the Bank’s schedule of fees, commissions and margins as published or notified by the Bank and amended from time to time.
“Instruction” means any order, direction or request given to the Bank by the Client or an Authorised Person in relation to an Account or a service.
“Minimum Balance” means the amount specified by the Bank for the relevant account type which the Client is required to fund and maintain in accordance with clause 9. “Onboarding Documents” means the Account Opening Form, the General Deed of Pledge and Assignment, and, where applicable, the Trading Account General Conditions and the Trading Volume Contract, together with all identification, ownership and source-of-funds documentation required by the Bank.
“Services” means the banking, payment, custody, brokerage, advisory and related services provided or made available by the Bank to the Client.
“Terms” means these General Terms and Conditions of Business as amended from time to time in accordance with clause 29.
3. Interpretation
3.1 Headings are for convenience only and do not affect interpretation.
3.2 A reference to a clause is a reference to a clause of these Terms. 3.3 A reference to a statute or regulation is a reference to it as in force from time to time.
3.4 The word “including” is used without limitation.
3.5 The singular includes the plural and the plural includes the singular.
3.6 Where these Terms conflict with a specific written agreement signed by the Bank and the Client, the specific agreement prevails in respect of the matter it governs. Where these Terms conflict with the Onboarding Documents, the Onboarding Documents prevail in respect of the matter they govern.
4. Scope of the Relationship
4.1 The Bank provides the Services on an execution and account-holding basis. The Bank does not provide investment advice, tax advice or legal advice unless a separate written mandate signed by the Bank expressly provides for it.
4.2 The Client is solely responsible for determining the tax, legal and regulatory consequences of holding an Account with the Bank in the Client’s jurisdiction of residence, incorporation or tax liability, and for making all filings and declarations required of the Client.
4.3 The Bank is not obliged to provide any particular service, to accept any particular Instruction, or to continue to provide a service which it has previously provided, save as expressly agreed in writing.
4.4 The relationship between the Bank and the Client is that of banker and customer. Nothing in these Terms creates a partnership, joint venture, agency or fiduciary relationship between them beyond that arising from the banker and customer relationship under applicable law.
5. Client Onboarding and Acceptance
5.1 An application for an Account is made by submitting the Onboarding Documents in complete and signed form, together with all supporting documentation required by the Bank.
5.2 The submission of an application is an invitation to the Bank to consider a banking relationship. It does not oblige the Bank to open an Account and confers no entitlement on the Client.
5.3 Before accepting an application, the Bank determines whether the requested Services may lawfully be provided to the applicant in the applicant’s jurisdiction and whether any licensing, establishment, regulatory or other restriction applies. Applications from jurisdictions in which the Bank may not lawfully provide the requested Services will not be accepted.
5.4 The Bank may decline any application at its discretion and is not obliged to state reasons.
5.5 A banking relationship comes into existence only upon written confirmation of acceptance by the Bank and activation of the Account in accordance with clause 9.
6. Introducers and Intermediaries
6.1 Introducers, facilitators, agents, consultants and other intermediaries who introduce prospective clients to the Bank act as independent parties. They are not employees, representatives or agents of the Bank and have no authority to bind the Bank.
6.2 No intermediary is authorised to make any representation, promise, guarantee or commitment on behalf of the Bank, to quote terms, to confirm acceptance of an application, or to state that any Service is available to the Client.
6.3 No intermediary is authorised to solicit banking business on behalf of the Bank in any jurisdiction in which such solicitation would require the Bank to hold an authorisation or establishment which the Bank does not hold, or to represent that the Bank’s Services are generally available to residents or entities of any such jurisdiction.
6.4 The Bank accepts no liability for any statement, representation, act or omission of any intermediary. Any fee agreed between the Client and an intermediary is a matter between them and does not bind the Bank.
6.5 The Client shall disclose to the Bank the identity of any intermediary involved in the introduction and shall state whether the initial contact originated from the Client.
7. Identification, Due Diligence and Ongoing Monitoring
7.1 The Bank is subject to obligations concerning the identification of clients, beneficial owners and the origin of funds. The Client shall provide all information and documentation the Bank requires to discharge those obligations, and shall do so promptly on request.
7.2 The Client shall notify the Bank without delay of any change to the Client’s name, address, residence, tax residence, legal form, ownership, control, beneficial ownership, Authorised Persons or politically exposed status. 7.3 The Bank conducts ongoing monitoring of the relationship and may at any time request updated documentation, an explanation of any transaction, or evidence of the origin or destination of funds.
7.4 Where the Client fails to provide requested information within the period specified by the Bank, the Bank may restrict or suspend the Account in accordance with clause 23.
7.5 The Client warrants that all information and documentation provided to the Bank is true, complete and not misleading, and that all funds credited to the Account derive from lawful sources.
8. Sanctions and Prohibited Activity
8.1 The Bank does not enter into or maintain relationships with persons or entities subject to applicable international sanctions, and does not execute transactions which would breach such sanctions.
8.2 The Bank may refuse, delay, block or reverse any transaction, and may freeze or close any Account, where the Bank considers that execution would or might breach applicable law, sanctions or the Bank’s internal policies, or where the Bank is required to do so by a competent authority or a correspondent institution.
8.3 The Bank is not liable for any loss arising from action taken under clause 8.2, and is not obliged to disclose the reason for such action where disclosure is prohibited or would be inappropriate.
8.4 The Client shall not use any Account or Service for any unlawful purpose, including money laundering, terrorist financing, tax evasion, fraud, or the issuance or circulation of fictitious or non-existent financial instruments.
9. Account Opening Fee and Minimum Balance
9.1 Upon acceptance of an application, the Client shall remit the account opening and activation fee specified by the Bank. The fee is non-refundable and is payable within the period stated in the Bank’s acceptance notice, by the payment methods there specified.
9.2 The account opening and activation fee covers the regulatory, compliance and operational work required to establish the relationship, including enhanced due diligence and senior review. It is not a deposit and is not credited to the Account.
9.3 Following activation, the Client shall fund the Minimum Balance within sixty (60) calendar days from the date of activation, by the payment methods specified by the Bank.
9.4 The Minimum Balance shall be maintained in the Account for a continuous period of twelve (12) months. That period begins only once the Minimum Balance has been fully funded, and restarts if the balance falls below the Minimum Balance at any time. Amounts in excess of the Minimum Balance may be transferred freely, subject to these Terms.
9.5 Where the Minimum Balance is not funded within the period stated in clause 9.3, the Bank may apply operational limitations to the Account or place it in restricted or dormant status in accordance with clause 23.
9.6 After the expiry of the period stated in clause 9.4, the Minimum Balance ceases to be subject to the maintenance requirement and is at the Client’s free disposal, subject to any security interest under clause 18.
10. Fees, Commissions and Margins
10.1 The Client shall pay the fees, commissions, margins, charges and expenses set out in the Fee Schedule, together with any third-party costs incurred by the Bank in executing an Instruction, including correspondent bank charges, intermediary bank deductions, exchange costs and courier fees.
10.2 The Bank may debit any Account of the Client with any amount due under clause 10.1 without prior notice.
10.3 The Bank may amend the Fee Schedule. Amendments take effect thirty (30) calendar days after publication or notification, save for changes required by law or by a third party, which take effect immediately.
10.4 Where a currency conversion is required, the Bank applies its own rate at the time of execution, which may include a margin. The Client bears the currency risk.
10.5 Amounts payable to the Bank are payable in full and without set-off, counterclaim or deduction. Where a deduction is required by law, the Client shall increase the amount payable so that the Bank receives the sum it would have received absent the deduction.
11. Instructions and Authorised Persons
11.1 The Bank acts on Instructions given by the Client or by an Authorised Person by the channels and in the formats notified by the Bank. The Bank may specify, vary or withdraw permitted channels at any time. 11.2 The Bank is entitled to rely on any Instruction which it reasonably believes to originate from the Client or an Authorised Person, and is under no obligation to make further enquiry.
11.3 The Bank may, at its discretion and without incurring liability, decline to act on an Instruction which is incomplete, ambiguous, inconsistent, unsigned, apparently altered, or which the Bank has reason to believe is not genuine, and may require confirmation by a further channel before acting.
11.4 An Instruction may not be revoked once the Bank has commenced execution. The Bank will use reasonable efforts to act on a request for recall but gives no assurance that a recall will succeed, and any resulting third-party costs are borne by the Client.
11.5 The Client shall notify the Bank immediately upon becoming aware of any loss, theft or unauthorised use of any access credential, authentication device or signature. Until such notification is received and the Bank has had a reasonable opportunity to act on it, the Client bears the consequences of use of the credential.
11.6 The revocation of the authority of an Authorised Person takes effect only upon receipt by the Bank of written notice in the form required by the Bank.
12. Execution of Payment Instructions
12.1 Accounts are configured for SWIFT, SEPA, RTGS and RTP transfers. Additional capabilities may be requested after activation and are enabled at the Bank’s discretion, subject to the Account being in good standing and to any conditions and fees the Bank specifies.
12.2 The Bank executes Instructions within a reasonable period having regard to cut-off times, currency, corridor, correspondent availability and compliance review. The Bank gives no guarantee of execution within any particular period.
12.3 Cut-off times published or notified by the Bank apply. An Instruction received after a cut-off time or on a day which is not a Banking Day is treated as received on the following Banking Day.
12.4 The Client is responsible for the accuracy of all payment details, including beneficiary name, account number, IBAN and BIC. Where a payment is executed in accordance with the details supplied, it is correctly executed even if those details are erroneous.
12.5 The Bank may decline to execute an Instruction where the Account holds insufficient available funds, where execution would breach clause 8, or where the Bank requires further information under clause 7. The Bank is not obliged to grant an overdraft and any tolerated overdraft is repayable on demand with interest at the Bank’s applicable rate. 12.6 Incoming funds are credited subject to receipt of final and irrevocable settlement. The Bank may reverse a provisional credit where settlement fails, where the payment is recalled, or where the Bank is required to return the funds.
13. Correspondent Banks and Third-Party Providers
13.1 The Bank executes cross-border transactions through correspondent banks, clearing systems, custodians and other third-party providers. The Bank selects such parties with reasonable care.
13.2 Transactions executed through such parties are subject to their rules, procedures, cutoff times, compliance requirements and deductions, over which the Bank has no control.
13.3 The Bank is not liable for the acts, omissions, insolvency, delay, blocking, freezing or deduction of any correspondent bank, clearing system, custodian or other third party, save where the Bank has failed to exercise reasonable care in the selection of that party.
14. Alternative Transfer Methods
14.1 The Bank may make available additional transfer methods, including KTT, API and JSON messaging, IPIP, server-to-server and ledger-to-ledger transfers. Availability is at the Bank’s discretion and subject to separate technical and compliance conditions.
14.2 Such methods are enabled only after activation of the Account, only on written request, and only where the Bank is satisfied as to the counterparty, the corridor and the intended use.
14.3 The Client acknowledges that such methods may not carry the settlement finality, traceability or dispute mechanisms associated with SWIFT, RTGS or SEPA transfers, and accepts the associated risk.
15. Digital Assets
15.1 Where the Bank accepts a transfer in digital assets, it does so only in the forms, on the networks and through the addresses and providers it specifies in writing for the transaction concerned.
15.2 A transfer sent to an address other than that specified by the Bank for the transaction, or on a network other than that specified, may be irrecoverable. The Bank accepts no liability for such loss.
15.3 The Bank applies blockchain analytics and origin screening to incoming digital assets and may refuse, return or freeze assets where screening indicates a connection to unlawful activity or to a sanctioned party.
15.4 The Client bears all price, network, protocol and conversion risk relating to digital assets.
16. Trading Accounts
16.1 A Client who intends to trade financial instruments through an Account, or to mandate the Bank with the issuance of instruments, shall additionally sign the Trading Account General Conditions and the Trading Volume Contract.
16.2 The trading volume is agreed individually between the Bank and the Client and recorded in the Trading Volume Contract. Trading fees under the Trading Account General Conditions are calculated on the agreed volume.
16.3 Trading is enabled once the Trading Volume Contract has been countersigned by the Bank and is in force, and the applicable trading fees have been settled. An increase or renewal of the trading volume requires a new Trading Volume Contract.
16.4 In respect of trading activity, the Trading Account General Conditions prevail over these Terms to the extent of any inconsistency.
17. Statements, Records and Objections
17.1 The Bank makes account statements available by the channel agreed with the Client, at the intervals it specifies.
17.2 The Client shall examine each statement and each transaction confirmation on receipt and shall notify the Bank in writing of any objection within thirty (30) calendar days of the statement being made available.
17.3 Where no objection is received within that period, the statement is deemed approved, save in respect of manifest error, fraud or an entry the Client could not reasonably have detected.
17.4 The Bank’s books and records constitute evidence of the transactions recorded in them, save in the case of manifest error. Electronic records, message logs and recordings have the same evidential standing as written records. 17.5 The Client shall notify the Bank of the non-receipt of an expected statement or confirmation within a reasonable period.
18. Security Interest, Set-Off and Pledge
18.1 The Client grants the Bank a security interest over all assets, balances, securities, precious metals and claims held by the Bank for the Client’s account, as security for all present and future claims of the Bank against the Client arising from the banking relationship. The General Deed of Pledge and Assignment signed at onboarding governs the detail of that security interest.
18.2 The Bank may set off any claim it has against the Client against any balance held for the Client, in any currency and on any Account, whether or not the claim and the balance are of the same currency or maturity. Where a currency conversion is required for that purpose, the Bank applies its own rate.
18.3 Where the Client fails to satisfy a claim of the Bank when due, the Bank may realise the pledged assets, after such notice as applicable law requires, in the manner and at the time it considers appropriate.
19. Communications
19.1 The Bank communicates with the Client by the channels agreed at onboarding. Notices from the Bank are deemed received on the Banking Day following dispatch to the last address, email address or messaging identifier notified by the Client.
19.2 The Client acknowledges that email and messaging services are not secure, that messages may be intercepted, delayed, altered or lost, and that the Bank does not accept payment Instructions by unsecured channels except where a specific authentication procedure has been agreed.
19.3 The Client shall keep the Bank informed of current contact details. Where communications cannot be delivered, the Bank may hold correspondence at the Client’s disposal and the Client bears the consequences of non-receipt.
19.4 The Bank may record telephone calls and videoconferences for evidential and compliance purposes.
19.5 Communications are conducted in English unless the Bank agrees otherwise. Where a translation is provided for convenience, the English version prevails.
20. Confidentiality and Disclosure
20.1 The Bank treats information concerning the Client and the relationship as confidential and does not disclose it except as provided in this clause.
20.2 The Bank discloses information where disclosure is required by applicable law or by an order of a competent authority or court, where it is necessary for the execution of an Instruction, where it is required by a correspondent bank, clearing system, custodian or other party involved in a transaction, where it is necessary to protect or enforce the Bank’s rights, or where the Client has consented.
20.3 The Client acknowledges that a cross-border payment Instruction necessarily involves the transmission of the Client’s identifying data to correspondent institutions, clearing systems and, where applicable, the authorities of the countries through which the payment is routed. The Bank has no control over the use of that data by those parties.
20.4 The Bank complies with applicable automatic exchange of information regimes, including FATCA, the OECD Common Reporting Standard and the Crypto-Asset Reporting Framework as implemented in its jurisdiction, and reports information accordingly.
20.5 The Client shall keep confidential all information concerning the Bank’s systems, procedures, pricing and internal arrangements which is not publicly available.
21. Data Protection
21.1 The Bank is the controller of personal data processed in connection with the banking relationship. The Bank determines the purposes and means of that processing.
21.2 The Bank processes personal data for the purposes of establishing and administering the relationship, executing Instructions, complying with its legal, regulatory and reporting obligations, managing risk, preventing fraud and financial crime, and enforcing its rights.
21.3 The Bank applies technical and organisational measures appropriate to the risk to protect personal data against unauthorised access, loss, alteration and disclosure.
21.4 Personal data may be transferred to correspondent institutions, clearing systems, custodians, service providers and authorities in other jurisdictions where this is necessary for the purposes stated in clause 21.2. The Bank imposes appropriate confidentiality obligations on service providers acting on its behalf.
21.5 The Bank retains personal data for the periods required by applicable law and by its own record-keeping obligations, and thereafter deletes or anonymises it. 21.6 Requests concerning personal data may be addressed to the Bank in writing. The Bank responds to the extent required by the law applicable to it, and may decline a request where compliance would conflict with a legal or regulatory obligation.
22. Client Obligations and Representations
22.1 The Client represents and warrants on a continuing basis that:
22.1.1 the Client has the legal capacity and, in the case of a legal person, the corporate authority to enter into the relationship and to give Instructions;
22.1.2 all information and documentation provided to the Bank is true, complete and current;
22.1.3 the Client acts on the Client’s own account, or, where the Client acts for a third party, has disclosed that fact and the identity of that third party to the Bank;
22.1.4 the funds credited to the Account derive from lawful sources and are not connected to any unlawful activity;
22.1.5 the Client is in compliance with all tax and reporting obligations applicable to the Client in respect of the assets held with the Bank; and
22.1.6 the Client is not subject to applicable international sanctions.
22.2 The Client shall notify the Bank without delay if any representation in clause 22.1 ceases to be accurate.
23. Restriction, Suspension and Dormancy
23.1 The Bank may restrict, suspend or limit an Account or a Service where the Client has failed to provide information requested under clause 7, where the Minimum Balance has not been funded in accordance with clause 9.3, where the Bank has grounds to suspect unlawful activity, where a competent authority or correspondent institution so requires, or where the Client is in material breach of these Terms.
23.2 Where an Account has been inactive for a period specified by the Bank, or where the Bank has been unable to contact the Client, the Bank may place the Account in dormant status and apply the corresponding charges in the Fee Schedule.
23.3 The Bank will notify the Client of a restriction, suspension or dormancy status where it is lawful and appropriate to do so.
23.4 A restriction or suspension is lifted once the underlying cause has been remedied to the Bank’s satisfaction.
24. Term and Termination
24.1 The banking relationship is entered into for an indefinite period.
24.2 The Client may terminate the relationship at any time by written notice, subject to the settlement of all outstanding obligations and to any maintenance requirement under clause 9.4.
24.3 The Bank may terminate the relationship, or any individual Service, on thirty (30) calendar days’ written notice, without stating reasons.
24.4 The Bank may terminate the relationship with immediate effect where the Client is in material breach of these Terms, where a representation under clause 22.1 proves to be false, where the Client fails to provide information requested under clause 7, where continuation would breach applicable law or sanctions, where a competent authority or correspondent institution so requires, or where the Client becomes insolvent or subject to insolvency proceedings.
24.5 Termination does not affect the account opening and activation fee, which remains non-refundable in all circumstances.
25. Consequences of Termination
25.1 On termination, all claims of the Bank against the Client become immediately due.
25.2 The Client shall instruct the Bank as to the transfer of any remaining balance and assets within thirty (30) calendar days of termination. Where no instruction is received, or where the instruction cannot lawfully be executed, the Bank may hold the balance without interest, or deposit or realise the assets, at the Client’s cost and risk.
25.3 The Bank may retain such amounts as are necessary to cover claims which are contingent, unquantified or not yet due.
25.4 Clauses 8, 17, 18, 20, 21, 26, 30 and 33 survive termination.
26. Liability
26.1 The Bank is liable for loss caused by its own gross negligence or wilful misconduct. 26.2 The Bank is not liable for loss of profit, loss of opportunity, loss of business, loss of goodwill, or any indirect or consequential loss, however arising.
26.3 The Bank is not liable for loss arising from:
26.3.1 the acts, omissions, insolvency or delay of any correspondent bank, clearing system, custodian, exchange or other third party, save as provided in clause 13.3;
26.3.2 the failure, interruption, unavailability or compromise of any communication network, payment system, blockchain network or technical infrastructure not under the Bank’s control;
26.3.3 the execution of an Instruction which the Bank was entitled to rely on under clause 11.2;
26.3.4 action taken by the Bank under clause 8.2 or clause 23.1;
26.3.5 the inaccuracy of payment details supplied by the Client, as provided in clause 12.4; or
26.3.6 any decision by the Client taken on the basis of information which is not the subject of a written advisory mandate.
26.4 The aggregate liability of the Bank in respect of any claim or series of connected claims arising in any twelve-month period shall not exceed the lower of the fees paid by the Client to the Bank in that period and EUR 1,000,000.
26.5 The limitations in this clause do not apply to liability which cannot be excluded or limited under the law applicable to the Bank.
26.6 The Client shall indemnify the Bank against all losses, costs, claims and expenses incurred by the Bank as a result of a breach by the Client of these Terms, the falsity of a representation under clause 22.1, or the enforcement of the Bank’s rights.
27. Force Majeure
27.1 The Bank is not liable for any failure or delay in performing its obligations where that failure or delay results from a cause beyond its reasonable control, including natural events, war, civil unrest, terrorism, epidemic, industrial action, failure of power or telecommunications, cyber attack, the act of a government or regulator, the suspension of a payment or settlement system, or the failure of a correspondent institution.
27.2 The Bank will notify the Client of any such event as soon as reasonably practicable and will use reasonable efforts to limit its effect.
28. Assignment
28.1 The Client may not assign, transfer, pledge or otherwise dispose of any right or claim against the Bank without the Bank’s prior written consent.
28.2 The Bank may transfer its rights and obligations under these Terms to a successor institution or in connection with a transfer of business, on notice to the Client.
29. Amendments
29.1 The Bank may amend these Terms. Amendments are notified to the Client by the agreed communication channel or published on the Bank’s website.
29.2 An amendment takes effect thirty (30) calendar days after notification, unless the Client objects in writing before that date. An objection is treated as notice of termination by the Client under clause 24.2.
29.3 Amendments required by law, by a regulator or by a correspondent institution take effect on the date required, without the period in clause 29.2.
30. Complaints and Disputes
30.1 A complaint shall be submitted to the Bank in writing, setting out the matter complained of and the outcome sought.
30.2 The Bank acknowledges receipt and responds within a reasonable period having regard to the complexity of the matter.
30.3 Where a complaint is not resolved, the parties shall use reasonable endeavours to resolve the matter by discussion before commencing proceedings. This clause does not prevent either party from seeking interim relief.
31. Severability
31.1 If any provision of these Terms is or becomes invalid, illegal or unenforceable, it shall be modified to the minimum extent necessary to make it valid, legal and enforceable while preserving its commercial intent. 31.2 If such modification is not possible, the provision shall be deemed deleted.
31.3 The modification or deletion of a provision does not affect the validity or enforceability of the remainder of these Terms.
31.4 No failure or delay by the Bank in exercising a right constitutes a waiver of that right, and no single or partial exercise prevents any further exercise.
32. Entire Agreement
32.1 These Terms, together with the Onboarding Documents and the Fee Schedule, constitute the entire agreement between the Bank and the Client in respect of the banking relationship and supersede all prior correspondence, representations and understandings.
32.2 The Client confirms that in entering into the relationship the Client has not relied on any statement, representation or assurance other than those set out in the documents named in clause 32.1, and in particular has not relied on any statement made by an intermediary as described in clause 6.
32.3 Nothing in this clause limits liability for fraud or fraudulent misrepresentation.
33. Governing Law and Jurisdiction
33.1 These Terms, the banking relationship and all matters arising in connection with them, including non-contractual matters, are governed by the law of the Union of the Comoros.
33.2 The courts of Mutsamudu, Anjouan, Union of the Comoros, have exclusive jurisdiction in respect of any dispute arising out of or in connection with these Terms or the banking relationship.
33.3 The Bank retains the right to bring proceedings against the Client in any other jurisdiction in which the Client is resident, established or holds assets.
International Finance Bank LTD Full Banking AOFA Licence A No. L1149, Anjouan, Union of the Comoros
The Bank’s Jurisdictional Notice forms part of these Terms and is available on the Bank’s website.