5. Privacy Notice
At ICICI Bank Limited, New York Branch we take your privacy very seriously and take precautions to maintain it. We do not sell customer lists or individual customer information.
We collect, retain and use your information only where we reasonably believe it will be useful or necessary in performing the functions of a financial institution, such as providing
products and services to you.
Policies and procedures have been instituted to protect your personal financial information and to maintain the privacy of personal information relating to your relationship with
ICICI-New York. These include controls, which limit access to consumer information, procedures to ensure the maintenance of accurate information and privacy covenants in third-
party service and business agreements. ICICI Bank Limited, New York maintains up-to-date physical, electronic and procedural safeguards that comply with federal standards to
guard against unauthorized access to your non-public, personal information.
We may share the information collected from or about you with our affiliates for such purposes as are permitted or required under applicable law and policy.
In other cases, we may join with non-affiliated financial institutions to provide you with joint products or services. Although it may be necessary for us to share with these other
financial institutions certain information we collect about you, we will never share your account(s) or access code(s) for these purposes.
The information we provide to outside companies in either of these two circumstances will be limited to that which is necessary for them to do their job. These companies are
required to keep your information secure and use it only as authorized by us. Under the law, you are permitted to opt-out of: (1) our sharing of non-transactional information about
you with our affiliates under the federal Fair Credit Reporting Act; and (2) our sharing information about you with non-affiliated companies and persons other than those to whom
we have outsourced specialized services and those with whom we have joint marketing agreements. However, since we do not currently share such information, no opt-out action
is necessary or provided. Should our policy change, you will be notified and given an opportunity to opt-out.
If you would like to have a copy of the Privacy Notice, or require additional information or have any questions regarding ICICI-NY’s privacy Policy, please telephone us at
1-866-424-2448 or send us an e-mail.
6. Business resolution
“The business entity shall provide the Branch with a Business resolution (if applicable) for opening an Account pursuant to this Application. This shall be in a format prescribed /
satisfactory to the Branch."
7. Indemnity relating to instructions given by fax, telephone, and other forms of Electronic Communication
Notwithstanding anything to the contrary contained in any other document/ agreement, I/we hereby request and authorize you to act and rely on any instructions or communications
for any purpose (including but not limited to the instructions/communications pertaining to the operation of all my/our accounts or to any other facilities or services that may be
provided by you from time to time) which may from time to time be or purport to be given by telephone, facsimile, untested telexes and faxes, telegraph, cable or any other form of
electronic communication by me/us (including such instructions/communications as may be or purport to be given by those authorized to operate my/our account(s) with you)
(“Instructions”). I/We understand and acknowledge that there are risks involved in sending the Instructions to you via telephone, facsimile, untested telexes and faxes, telegraph,
cable or any other form of electronic communication and hereby agree that all risks shall be fully borne by me/us and I/we assume full responsibility for the same, and you will not be
liable for any losses or damages arising upon your acting, or your failure to act, wholly or in part in accordance with the Instructions. In consideration of your agreeing, subject to the
terms and conditions hereunder, to act upon the Instructions as aforesaid, I/we hereby irrevocably agree and undertake:
a. that you shall be entitled to act or refuse to act as you see fit, without incurring any liability whatsoever to me or to any other person, upon any instructions for any purpose which
may from time to time be or purport to be given by telephone, facsimile, untested telexes and faxes, telegraph, cable or any other form of electronic communication by me/us
(including such instructions as may be or purported to be given by those authorized to operate my/our account(s) with you, even if such instructions or communications are not
followed up by written confirmation to you.
b. That the instructions shall be conclusively presumed for your benefit to be duly authorized by and legally binding on us, and we shall be fully responsible for the same. You shall
not be responsible to ensure the authenticity, validity or source of any instructions and shall not be liable if any instructions turned out to be unauthorized, erroneous or fraudulent.
c. Not to make any claim against or hold you liable by reason of or on account of you having acted or refused to act on any instruction or you having acted wrongly or mistakenly or
of your failure to act wholly or in part in accordance with the instructions.
d. That you shall be entitled (but not obliged) to keep records of our instructions given or made by telephone, facsimile, untested telexes and faxes, cable or any other form of
electronic communication in such form, physical or electronic, as you may in your sole discretion deem fit, and your records shall be conclusive and binding on me/us. You shall be
entitled to dispose of or destroy any such records at any time as determined by you at your sole discretion.
e. That you shall be authorized to disclose all instructions as you may deem fit, to your affiliates, counterparties, service providers, and regulators and other authorities or where you
are required by law to do so.
f. That you shall be entitled to require any instruction in any form to be authenticated by use of any password, identification code or test as may be specified by you form time to time
and I/we shall ensure the secrecy and security of such password, code or test and I/we shall be solely responsible for any improper use of the same.
g. That not withstanding the above, you may under circumstances determined by you in your absolute discretion, require from me/us confirmation of any of any instructions in such
form as you may specify before acting on the same and we shall submit such confirmations to you immediately upon receipt of your request. Pursuant to receipt of instructions, you
shall have the right but not the obligation to act upon such instruction.
h. That you shall not be liable to us or any third party for, and that I/we (jointly and severally) shall indemnify you and keep you indemnified from and against all claims either by me
or any other, actions, demands, liabilities, costs, charges, damages, losses, expenses and consequences of whatever nature (including legal fees on a full indemnity basis) and
howsoever arising, which may be brought or preferred against you or that you may suffer, incur or sustain by reason of or on account of your having so acted whether wrongly or
mistakenly or not, or of your failing to act wholly or in part in accordance with the instructions and the terms of this letter.
i. That I/we confirm that I/we have the capacity and authority to accept this document and that this document constitutes our valid, legal, effective and enforceable obligation.
j. That this undertaking cum indemnity document shall be governed and construed in accordance with the law’s of New York and I/we hereby irrevocable submit to the non-exclusive
jurisdiction of federal and state courts located in the Boroughs of Manhattan, New York.
8. Acknowledgment
1. We consent to:
(i) the terms and conditions governing bank accounts in the U.S. as well as the terms and conditions contained in the Customer Account Agreement, receipt of which is
hereby acknowledged; and
(ii) inform you promptly of changes, if any, in the mode of operation of the account, and/or the names of authorized signatories for the account.
2. We understand that on no occasion will our account be permitted by the Branch to go into overdraft.
3. We have read and understood the Privacy Notice and Indemnity relating to instructions given by fax, telephone, and other forms of Electronic Communication
(above) and agree to be bound by the same.
4. The information provided in this application is correct to the best of our knowledge and belief.
5. We understand that any checking or other deposit account that we establish with the Branch is not covered by deposit insurance from the Federal Deposit Insurance
Corporation (“FDIC”).
Date
ACCOUNT SIGNATORY 1 ACCOUNT SIGNATORY 2 ACCOUNT SIGNATORY 3
ACCOUNT SIGNATORY 4
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