Conditions for Telegraphic Transfers / Demand Drafts
1. In the absence of any specific instructions to the contrary, the Telegraphic Transfer will be effected in the currency of the country in which payment is to be made.
2. The Bank reserves the right to draw this Telegraphic Transfer on a different place from that specified by the remitter if operational circum stances so require.
3. Telegraphic Transfer is to be dispatched entirely at the remitter's own risk.
4. Where the Bank is unable to provide a firm exchange rate quotation, the Bank shall effect the remittance on the basis of a provisional exchange rate, which shall be subject to adjustment when the actual exchange rate is ascertained. Any difference between the provisional rate and the actual rate shall be debited/ credited (as the case may be) to the Applicant's account.
5. I/We hereby warrant that all requited permissions and authorizations have been obtained and that the Bank may debit my/our account(s) with the amount of and liabilities, costs and losses.
6. In the event that supporting documents are required for certain transactions in accordance with the local regulations and the Bank's policy, I/we undertake that any copy of such supporting documents certified and presented by me/us to the Bank are the true copy from the original copy of those documents. I/We therefore bear full responsibility for any information contained therein.
7. The Bank is at liberty to send the Telegraphic Transfer either literally or in cipher and the Bank accepts no responsibility for any loss, delay, error, omission or mutilation which may occur in the transmission of any message or for its misinterpretation when received.
8. Applications received after 14:00 pm will not be processed on the same day.
9. Applications for same day value are subject to cut-off time related to the geographical location of the destination.