Bank of India StarConnect (Core Banking) Services – Corporate Request Form: Agreement cum Indemnity P a g e | 3
d. The Customer is fully aware that the Bank is providing the said Services at the Customer’s
sole risk and that the Bank shall not be liable for any loss, damages or consequences
whatsoever arising due to any erroneous or incomplete information or any delay in executing the
instructions for any other reasons. On the other hand in the event of the Customer’s Account
receiving an incorrect credit by reason of a mistake committed by some other Person, the Bank
shall be entitled to reverse the incorrect credit at any time without the consent of the Customer.
The Customer shall be liable and responsible to Bank and agree to accept the Bank’s
instructions without questions for any unfair or unjust gain obtained by the Customer.
8. The Customer will not hold the Bank responsible for the Internet Data being hacked or
fraudulently used or if the data is used to defame anyone or if the data is used in any manner
adverse to the Customer.
9. *(A) EXTERNAL ACCOUNT LINKAGE (THIRD PARTY CREDIT):
The Customer states that in the course of various business activities of the Customer, the
Customer would be required to make payments to various Parties. For the purpose of making
direct payments to the Parties with whom the Customer has business relationships, the
Customer wish to avail the Third Party Fund Transfer facility by which the Customer could
directly make credits to the linked accounts of the said third Parties, by debiting the Customers
account. The Customer is aware that for availing the said facility, the said third Party to whom
funds are to be transferred also should have an account with a Branch of the Bank which is
connected with Core Banking and the said third Party should execute a mandate(*) in favour of
the Bank in a format acceptable to Bank. The Customer has requested the Bank to permit such
third party fund transfer to the Parties whose names are mentioned in Schedule I of this
Agreement. The details of the Account of the Parties, maximum amount that can be transferred
on a day/month are interalia stated in the said Schedule I. Any change in the Account number
of the Parties, the maximum amount that can be transferred or any modification (addition or
deletion) in the list of the said third Parties stated in the Schedule I may be done by the
Customer from time to time, by executing and delivering letter in the Bank’s standard format(**)
along with a mandate(*)of the third party to whom funds are to be transferred. The Customer by
executing and submitting to the Bank the Letter and mandate as stated above and on Bank
accepting the same, the Schedule I shall be deemed to be modified accordingly as if the details
are incorporated therein. The Customer shall ensure that only genuine and bonafide
transactions shall be made through the said Core Banking Facilities and no dispute shall arise
with the said Third Parties in connection with the payment etc. Customer agrees that under no
circumstances the Bank shall be held liable for loss or damage or compensation for any disputes
that may arise between the Customer and the said Third Parties.
(B) EXTERNAL ACCOUNT LINKAGE (THIRD PARTY DEBIT):
The Customer states that in the course of various business activities of the Customer, the
Customer would be required to receive payments from various Parties. For the purpose of
receiving direct payments from the Parties with whom the Customer has business relationships,
the Customer wish to avail the External Account Linkage (Third Party Debit) facility by which the
Customer could directly operate the Linked Account/s of said third Parties and withdraw
amounts there from and credit the Customer’s account. The Customer is aware that for availing
the said facility, the said third Party should also have an account with a Branch of the Bank
which is connected with Core Banking and the said third Party should execute a mandate (***) in
favour of the Bank in Bank’s standard format and they should also execute a notarised Power of
Attorney(****)in the format acceptable to Bank in favour of the Customer interalia authorising the
Customer to operate their Account/s and the same should be submitted to the Bank. The third
Parties whose names are mentioned in Schedule II of this Agreement, have given the mandate
and Power of attorney as above to enable the Customer to operate the account. The details of
the Account of the Parties, maximum amount that can be transferred on a day/month are
interalia stated in the said Power of Attorney and in Schedule II. Any change in the Account
number of the Parties, the maximum amount that can be transferred or any modification
(addition or deletion) in the list of the said third Parties stated in the Schedule II can be made
only upon the said third parties executing and delivering fresh mandate (***) and Power of
Attorney as above and the Customer executing and submitting to the Bank a Letter(*****) as per
Bank’s format and on Bank accepting the same, the Schedule II shall be deemed to be modified
accordingly as if the details are incorporated therein. The Customer shall ensure that only
genuine and bonafide transactions shall be made through the said Core Banking Facilities and