(TRANSLATION)
(FOR REFERENCE ONLY)
(JAPANESE VERSION PREVAILS)
Terms and Conditions for Foreign Currency Remittance Service
- Article 1 - Scope of Application
- These terms and conditions (these “Terms and Conditions”) are stipulated for the following services (“Service”) provided by Sony Bank (“Company”).
The customer shall conduct transactions after confirming that these Terms and Conditions constitute the Foreign Currency Remittance transaction agreement.- transaction of remitting money in Japanese yen or foreign currency to recipients’ deposit accounts at financial institutions overseas
- transaction of remitting money in foreign currency to recipients’ deposit accounts at the Company and other financial institutions in Japan
- any other transactions that are similar to the aforementioned transactions
- Article 2 - Terms of Use and Restrictions
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- The customer may use the Service, only when the customer comprehends and consents to these Terms and Conditions, Sony Bank General Terms and Conditions, and other applicable terms and conditions adopted by the Company; signs up for the Service by following the procedures, etc. as specified by the Company and obtains the Company’s approval in advance.
- Only the customer residing in Japan may use the Service.
- All communications that will take place concerning the Service such as the customer’s requests to the Company and other exchanges of messages, etc. between the Company and the customer shall be in Japanese.
- There are restrictions prescribed by the Company on the types of foreign currency that may be remitted, the amount of money that may be remitted, the number of remittances allowed, the number of cases that may be registered in advance, and the operating hours during which the Company accepts remittance requests from the customer.
- There is a certain number of days prescribed by the Company that it will take for the Company to process the customer’s order, i.e., from the time the Company accepts a remittance order from the customer until the Company provides payment instructions to the concerned banks.
- The Service cannot be used to remit funds for business purposes.
- Article 3 - Definitions
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The following terms used herein shall have the meaning as set forth below.
- “Payment Instruction(s)” means the instructions that the Company issues to the concerned banks so that certain amounts of money in Japanese yen or foreign currency will be transferred to the recipients’ deposit accounts, as per the customer orders.
- “Destination Bank(s)” means the financial institutions where the recipients hold their deposit accounts, to which the money will be remitted.
- “Concerned Bank(s)” means the Destination Banks and also the financial institutions that will provide the following services:
- relaying of Payment Instructions as intermediaries
- settlement of the funds remitted between the banks involved in remittance transactions
- “Pre-Registration” means the registration of the matters prescribed by the Company, such as the purpose of remittance, into the Company’s system, which have been reported to the Company by the customer from computer terminals, etc. and checked by the Company through a specific review process.
- Article 4 - Pre-Registration
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- The customer who intends to use the Service must complete the Pre-Registration process for each recipient in advance, from a computer terminal, etc.
- The name of the party requesting remittance, as it will appear in each transaction record, will be the name of the account holder by default, which cannot be changed.
- Once the Pre-Registration is completed by the customer, the Company checks the content pursuant to the applicable foreign exchange laws and regulations, the Act on Prevention of Transfer of Criminal Proceeds, etc. through the review process prescribed by the Company. In addition, the Company may contact the customer to verify the content of the Pre-Registration. Depending on the result of such review process, the Company may refuse the registration or have the customer modify its content, at the Company’s sole discretion. In this connection, if the Company contacts the customer for verification purposes but the customer fails to provide a response within a reasonable period of time, provides an inappropriate response, or refuses to modify the Pre-Registered content as requested by the Company, the Company will refuse the registration. In this case, the Company shall not be liable for any damage that the customer may suffer as a result of the denial.
- If the customer completes the Pre-Registration, but a change subsequently arises to the content, the customer must delete the registration and complete another Pre-Registration with the change reflected.
- After the customer completes the Pre-Registration, he/she may file individual remittance requests. In this connection, it must be noted that the completion of the Pre-Registration does not mean that the Company guarantees that remittances can be made based on the Pre-Registration.
- If any of the following circumstances is deemed by the Company to have arisen with the customer, the Company reserves the right to cancel the customer’s Pre-Registration, in whole or in part, or suspend the customer’s use of the Service, in whole or in part:
- if a remittance by the customer is found to be in violation of any of the applicable foreign exchange laws, regulations, or other laws, calling for an emergency suspension of the transaction, etc.;
- if war or civil strife, or asset freezing, payment suspension, etc. involving a Concerned Bank arises or could arise;
- if a circumstance arises, where the remittance is suspected to be tied to a crime, etc., or which reasonably calls for the aforementioned action by the Company;
- If the Company or a Concerned Bank reviews the circumstances surrounding other countries, Concerned Banks, etc. and decides to refuse transactions by the customer;
- if any email or postal mail message containing a Pre-Registration notice, etc. sent by the Company cannot be delivered to the customer due to a change in the customer’s address, etc.;
- if any information that has been provided to the Company by the customer turns out to be or likely to be falsified or non-factual at the Company’s discretion;
- if the transaction is found to be a remittance of money to a party that is the subject of asset freezing or another sanction by the United Nations; or to a natural person that has an address or a residence in, or a corporation or another type of group with a principal office in (including a case where the corporation or another type of group has a foreign branch, sub-branch, or another type of office in), a country that is the subject of an economic sanction being imposed; or to a corporation or another type of group that is substantially controlled by another party, corporation, or another type of group as described above;
- if the transaction is found to be subject to any economic-sanction-related law, regulation, recommendation, or system enforced by the government of Japan or another country;
- if the customer is found to be in violation of these Terms and Conditions, Sony Bank General Terms and Conditions, etc.;
- if the customer becomes the subject of a bankruptcy, civil rehabilitation, payment suspension, suspension of transactions at a clearinghouse, commencement of inheritance, etc.; or
- if there is a circumstance based on which the Company deems it necessary to take the aforementioned action.
- Article 5 - Remittance Request
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- When the customer intends to file a remittance request, he/she must enter specified information accurately on the screen as prescribed by the Company.
- If the customer enters inaccurate information while filing a remittance request as set forth in the preceding paragraph and suffers damage as a result, the Company shall not be liable for compensation.
- The following terms and conditions apply to all remittance transactions.
- For each remittance transaction that the customer requests, the customer must pay the money to be remitted, by allowing the Company to withdraw the amount from the customer’s savings account in the same currency as the one in which the money will be remitted. In addition, the remittance fee, and other ancillary costs, etc. will be withdrawn from the customer’s Japanese yen savings account. Furthermore, if any fees, costs, etc. are charged by other financial institutions after the remittance has been executed, the sum of such fees, costs, etc. will be withdrawn from the customer’s savings account of the same currency as the one in which such fees, costs, etc. are charged. If the money cannot be withdrawn from the customer’s account in any of the aforementioned cases due to insufficient balance, etc., the customer must make the payment by another means as prescribed by the Company.
- From the time a remittance is requested by the customer until the remittance is executed, the money to be remitted, the remittance fee and other fees, cost, etc. that have been withdrawn from the customer’s savings account shall be treated as unpaid money. Such unpaid money cannot be transferred, withdrawn, etc. by the customer.
- Depending on the foreign exchange market conditions, there is a possibility that the Company may become unable to transfer funds with the Concerned Banks and may be forced to stop or suspend remittance transactions.
- If the customer desires to have the Company execute a transaction that requires special permission, etc., he/she must submit to the Company the original of a document certifying the permission, etc. in advance. In addition, such customer may be requested to submit a document certifying the content of the transaction, etc.
- Once the Company accepts a remittance request from the customer, the customer may not change the amount of money to be remitted. If the customer desires to change the amount of money to be remitted after the Company has already accepted its remittance request, the customer needs to first follow the remittance cancellation procedure as specified in Article 12 hereof and then file a new remittance request.
- After the Company provides Payment Instructions to the Concerned Banks, there is a possibility that any of the Concerned Banks sends back a request to modify the recipient name or other payment detail. In such a case, the customer must follow the procedure as specified in Article 11 hereof, notwithstanding the procedure as set forth in Article 4.4 hereof.
- Article 6 - Conclusion and Cancellation of Remittance Service Contract
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- A remittance service contract between the customer and the Company shall be concluded when the Company has reviewed the details of the customer’s remittance request and confirmed receipt of the money to be remitted along with the remittance fee and other fees that will be required to execute the transaction.
- If the remittance service contract is concluded pursuant to the preceding paragraph, the Company will indicate on the customer’s computer terminal, etc. the transaction number, the detail of the request, and the receipt of the outward foreign currency remittance request pertaining to the customer’s request. In this connection, it must be noted that the Company does not issue receipts of outward foreign currency remittance requests in paper form.
- After the remittance service contract is concluded pursuant to paragraph 1 above, the Company will conduct its prescribed review of the remittance request pursuant to the applicable foreign exchange laws and regulations, the Act on Prevention of Transfer of Criminal Proceeds, etc. The Company may then reserve the right to cancel the remittance service contract or send an inquiry to the customer concerning details of the remittance, at the Company’s sole discretion. In such process, if the customer fails to provide its response to the Company’s inquiry within a reasonable period of time, or provides an inappropriate response to the Company, the Company will cancel the remittance service contact. Even if the customer suffers any damage as a result of the aforementioned action taken by the Company, the Company shall not be liable for compensation.
- After the remittance service contract is concluded pursuant to paragraph 1 above, and before the Company provides Payment Instructions to the Concerned Banks, if any of the circumstances as specified in Article 4, paragraph 6 hereof is deemed to have arisen, the Company reserves the right to cancel the remittance service contract without providing any prior notice to the customer. In this case, the Company shall not be liable for any damage that the customer may suffer as a result of such cancellation.
- If the remittance service contract is canceled pursuant to the preceding paragraph, the Company will refund the money that was to be remitted, through the Company’s prescribed procedure.In this case, the remittance fee, and other fees, cost, etc. will not be refunded. For this procedure, the Company may request the customer to present a document to prove the identity of the customer as prescribed by the Company before the money can be refunded.
- Article 7 - Payment Instructions by Company
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- If a remittance service contract is concluded between the Company and the customer, the Company shall provide Payment Instructions to the Concerned Banks based on the customer’s remittance request, unless the contract is canceled pursuant to Article 6, paragraph 4 hereof.
- The Company may include any or all of the information as set forth below in the Payment Instructions that the Company will provide to the Concerned Banks, pursuant to the applicable laws, regulations, systems, recommendations, and customary practices of Japan and the concerned countries as well as the requirements related to the Concerned Banks’ standard procedures, communication methods used for foreign currency remittance, etc., so that the Company can execute the remittance transactions as requested. In addition, the Company may communicate any such information based on the request of the Concerned Banks. In this connection, it must be noted that such information may also be communicated to the payment recipients through the Concerned Banks. Therefore, the customer shall provide prior consent to such cases where the information may be communicated to the payment recipients, and the Company shall not be liable for any damage that the customer may suffer as a result of the communication of the information to the payment recipients:
- Pre-Registered information; and
- the customer’s bank account number, address, purpose of remittance, telephone number, email address, and other information that can be used to identify the customer.
- The Company will provide Payment Instructions through its standard method on the dates specified by the Company. As for the selection of the Concerned Banks to be used in each transaction, the Company will choose them through its prescribed method, unless otherwise specified by the customer. If any damage is suffered by the customer due to the aforementioned procedure, the Company shall not be liable for compensation, unless it is attributable to the Company.
- Notwithstanding the preceding paragraph, if one of the following circumstances arises, the Company may refuse to use the Concerned Banks that are specified by the customer and use other banks that are deemed appropriate by the Company as the Concerned Banks instead. In this case, the Company will promptly notify the customer. Even if the customer suffers any damage due to this procedure, the Company shall not be liable for compensation:
- if the Company deems that it is impossible to use the banks that are specified by the customer as the Concerned Banks; or
- if the Company deems that assigning the banks as specified by the customer as the Concerned Banks would cause the customer to incur excessive amounts of costs, delay the remittances, etc. while there are other banks considered appropriate by the Company to be assigned as Concerned Banks.
- Article 8 - Remittance Fee, Other Fees, Cost, etc.
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- When the customer files a remittance request with the Company, the customer must pay the remittance fee prescribed by the Company and fees charged by the Concerned Banks as well as any other fees, cost, etc. that will be required for executing the transaction, by the payment method as prescribed by the Company. In addition, the customer may be requested afterward to pay additional fees, costs, etc. that could be charged by the Concerned Banks.
- If the customer desires to make an inquiry, request a change or a reversal, the Company will request the customer to pay the fee as prescribed by the Company by the payment method prescribed by the Company, before the Company can accept the customer’s request. In this case, the fees, etc. as specified in the preceding paragraph will not be refunded to the customer. The Company may also request the customer afterward to pay additional fees, costs, etc. that could be charged by the Concerned Banks.
- Article 9 - Currency to be Paid to Recipients
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- If the customer requests to remit money in one of the following currencies as specified below, the actual currency in which the payment will be made to the recipient may differ from the one that has been specified by the customer. In this case, the currency in which the payment will be made, the currency exchange rate and fees, etc. to be applied shall be decided pursuant to the applicable laws, regulations, and customary practices of the concerned countries as well as the procedures of the Concerned Banks:
- a currency that is not the currency of the country where the Destination Bank is located; or
- a currency that is not the currency applicable to the recipient’s deposit account.
- If the customer requests to remit money in one of the following currencies as specified below, the actual currency in which the payment will be made to the recipient may differ from the one that has been specified by the customer. In this case, the currency in which the payment will be made, the currency exchange rate and fees, etc. to be applied shall be decided pursuant to the applicable laws, regulations, and customary practices of the concerned countries as well as the procedures of the Concerned Banks:
- Article 10 - Inquiry on Remittances
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- If the customer has any question or issue concerning the status of the money arrival, etc., he/she may send an inquiry to the Company using the form prescribed by the Company. In response to this, the Company will send inquiries to the Concerned Banks, etc. and report the result back to the customer.
- After the Company issues Payment Instructions, the Company may inquire the customer as to the details of the payment as requested by the customer. If the customer fails to promptly provide a response to the Company’s inquiry, or provides an inappropriate response to the Company, it may lead to the Concerned Banks being unable to receive the remitted money or another circumstance that is unfavorable to the customer. Even if the customer suffers any damage as a result of the aforementioned circumstance, the Company shall not be liable for compensation.
- Article 11 - Modification to Remittance Request
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- If the customer desires to make any modification to his/his remittance request after the remittance service contract has already concluded, the customer must follow the modification procedure using the request form as prescribed by the Company.
- Once the Company accepts a modification request, the Company will follow the procedures necessary to modify the remittance without delay, by issuing modified Payment Instructions, etc. to the Concerned Banks using communication means as deemed appropriate by the Company, based on the content of the request form.
- There is a possibility that the Company may not be able to modify remittances as requested by the customer, due to the refusal by the Concerned Banks to make modifications, legal or regulatory restrictions, measures enforced by governments, courts, and other public organs.Even if any damage is suffered by the customer due to the Company’s inability to make the modifications as requested by the customer, the Company shall not be liable for compensation.In this case, the Company shall not refund the modification fees that have already been paid by the customer.
- If the customer files a modification request but the Company is unable to modify the remittance as requested, the reversal procedure as set forth in Article 12 hereof shall be followed.
- Article 12 - Reversals
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- If the customer desires to stop the remittance after a remittance service contract has already been formed, it must follow the reversal procedure using the request form as prescribed by the Company. For this procedure, the Company may request a certain document as prescribed by the Company to verify the customer’s identity.
- When requested by the customer for a reversal, the Company will follow the procedure necessary for the reversal without delay, by issuing Payment Instructions for the reversal to the Concerned Banks using communication means as deemed appropriate by the Company, based on the content of the request form.
- There is a possibility that the Company may not be able to execute the reversal as requested by the customer, due to the refusal of the reversal by the Concerned Banks, legal or regulatory restrictions, measures enforced by governments, courts, and other public organs. Even if any damage is suffered by the customer due to the Company’s inability to execute the reversal as requested by the customer, the Company shall not be liable for compensation. In this case, the Company shall not refund the reversal fees that have already been paid by the customer.
- There is a possibility that the Concerned Banks may not receive remitted money for some reason, which will result in the money being returned to the Company. In this case, the Company will return the money to the customer by remitting it to the customer’s Japanese yen or foreign currency deposit account, notwithstanding the reversal request procedure. In such event, the Company will not refund the fees charged by the Concerned Banks, the remittance fee, etc. that have already been paid by the customer. In this process, there is a possibility that the customer is refunded its money in a currency that is different from the one that was previously specified by the customer for remittance purposes. Even if the customer suffers damage in connection with this procedure, the Company shall not be liable for compensation.
- Article 13 - Contact Information for Notice and Inquiry
- When the Company contacts the customer concerning the remittance, the Company will do so by getting in touch with the customer at its notified telephone number in Japan, email address, residential address, etc. Therefore, the customer must keep the Company aware of its current contact information. If the customer suffers damage as a result of failure to Pre-Register their information properly with the Company, communication system failure, or any other cause not attributable to the Company, thereby rendering the Company unable to contact the customer at all or in a delayed manner, the Company shall not be liable for compensation. For this purpose, the Company reserves the right to choose a means of communication at its sole discretion.
- Article 14 - Provision of Customer Information to Third Parties
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- Concerning any information that the customer notifies the Company (including the information stated in the documents that are submitted to the Company) to ensure the proper operation of the Service (including the purpose of use as set forth in the following paragraph), the Company may provide the information to the third parties as specified in the following paragraph.
- The Company reserves the right to provide customer information (including the information specified in the preceding paragraph), as deemed necessary by the Company, to the third parties that are concerned with the Service (which mean the Company’s affiliated entities, correspondent banks, intermediary banks and recipient banks) in order to aid their payment of remitted money to the recipients, facilitate the Company’s execution of overseas remittance processes, and comply with the applicable laws and regulations (including those enforced in foreign countries).
- Article 15 - Indemnities
- The Company shall not be liable for any damage suffered by the customer that are caused by the events as specified below:
- damage caused by a natural disaster, incident, or war; any measure enforced by the government, court, or other public organs of any concerned country; or law, regulation, etc.;
- damage caused by erroneous or missing text, etc. contained in electrical communication that arises due to a malfunction or other issue with a computer, telecommunication equipment, or communication line, which arise despite the Company’s implementation of reasonable measures or outside the control of the Company; and
- damage caused by an event that is not attributable to the Company.
- Article 16 - Prohibition of Transfer, Pledging, etc.
- The customer may not assign, pledge, grant a third party any right to, or allow a third party to use, the customer’s any and all rights concerning this transaction.
- Article 17 - Discontinuation of the Service
- The Company may at its sole discretion stop providing the Service, in whole or in part, without providing prior notice to the customer.
- Article 18 - Mutatis Mutandis Application of Other Terms and Conditions
- Concerning any matters related to the Service that are not specified in these Terms and Conditions, Sony Bank General Terms and Conditions, and other applicable terms and conditions adopted by the Company shall apply mutatis mutandis.
- Article 19 - Modification of these Terms and Conditions
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- The Company may modify these Terms and Conditions and other conditions in the event that changes in financial situations or other reasonable grounds are deemed. The Company will provide notification of the modification by posting relevant information on its website or by other appropriate means.
- The modifications in the preceding paragraph shall be applied from the commencing date of application set forth at the Company's notification, etc.
- Article 20 - Compliance with Laws, Regulations, Rules, etc.
- Any matters that are not specified in these Terms and Conditions shall be handled pursuant to the laws, regulations, and customary practices of Japan and concerned countries as well as the standard procedures of the Concerned Banks.
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