Handelsbanken. Current account agreement (for private person) Chapter II. General terms and conditions

Current account agreement (for private person) Chapter II. General terms and conditions 1. Definitions Account shall mean the current account opened on the name of the Client at the Bank. Agreement shall mean this Current account agreement entered into by the Client and the Bank, which consist the Chapter I. Special conditions, Chapter II. General terms and conditions, and Chapter III. Payment services conditions. Authorised representative shall mean a private person, whose authorisation to act and sign on behalf of the Client in relation to the Account the Client is stated in the Signatures Samples Card executed in the form accepted by the Bank. Bank Group shall mean entities belonging to the same group within Svenska Handelsbanken AB (publ). Information is available on Web page. Bank shall mean Svenska Handelsbanken AB (publ) registered in the bank register conducted by the Swedish Financial Supervisory Authority (Finansinspectionen) with a business ID 502007-7862, registered address: Kungsträdgårdsgatan 2, SE 106 70, Stockholm, Sweden, which in Latvia is represented by Svenska Handelsbanken AB Branch operation in Latvia, reg. No 40003960512, legal address: Cesu street 31/9, Riga, LV-1012. Bank s exchange rate shall mean a currency exchange rate determined by the Bank on the relevant day for each currency in which the Bank performs transactions. Beneficial owner shall mean a private person, for whose benefit or in whose interest a business relationship is established; for whose benefit or in whose interest a separate transaction is made without establishing a business relationship. Beneficiary shall mean a private person or legal entity (or other legal foundation) indicated in the Payment order, who/which is intended recipient of funds. Business day shall mean any calendar day which in the Republic of Latvia is an official working day and when Svenska Handelsbanken AB Branch operation in Latvia is open for business transactions. Client shall mean a private person, to whom the Bank opens a current account in accordance with this Agreement. Client s information shall mean any information about contractual relationships between the Client and the Bank, any information about the Client s Account, and Client s Payments. EEA shall mean European Economic Area, which consists of the European Union Member states, Norway, Lichtenstein and Iceland. General Terms shall mean Chapter II. General terms and conditions of this Agreement. IBAN (International Bank Account Number) is a client s account number assigned according to the international (ISO13616) standard in banks and other financial authorities. Intermediary bank (Correspondent bank) shall mean a bank involved in the Payment execution. Internetbank shall mean current account remote management system, which are available to the Client via the Internet. Intrabank payment shall mean a Payment between Bank accounts: between Client s own Accounts or between several clients accounts. Mandate shall mean Client's authorization given to the Beneficiary and in accordance with which the Beneficiary is entitled to submit the SEPA direct debit payment order to the Bank. The Mandate is executed according to the SEPA Direct Debit approved standard form. Money Laundering shall mean activities provided that they have been committed for concealing or disguising the illicit origin of such proceeds or assisting any other person who is involved in the committing of such activity to evade the legal liability of his/her action: converting the proceeds from criminal activity into other valuables, changing their location or ownership; concealing or disguising the true nature, source, location, disposition, movement or ownership of the proceeds from criminal activity; acquiring the proceeds from criminal activity for ownership, possession or use knowing, at the time of acquiring such rights that the proceeds were derived from criminal activity; participating in any of the above mentioned activities. Party shall mean the Client and the Bank each separately, and the Parties shall mean the Client and the Bank jointly. Payer shall mean a Client who initiates funds transfer by submitting to Bank the Payment order. Payment instrument shall mean any personalized device and/or set of procedures agreed between the Bank and the Client and used by the Client in order to initiate the Payment and/or accept the Payment order (payment card, PIN code, user name, code card, as well as other safety codes and procedures necessary to initiate the Payment and/or accept the Payment order). Payment order shall mean an instruction to execute the Payment given to the Bank by the Client in written or in electronic form. Payment service provider shall mean any person entitled to execute payment services as defined in the Payment Services and Electronic Money Law of the Republic of Latvia. Payment services conditions shall mean Chapter III. Payment services conditions of this Agreement. Payment shall mean an act initiated by the Payer or Beneficiary in order to give, transfer or withdrawal funds, regardless of any underlying obligations between the Payer and Beneficiary. Personal data shall mean any personal data of the Client, Authorised representatives and any other private person directly or indirectly related to the Client, whose are identified and whose data are processed by the Bank when providing services to the Client. Price List shall mean a price list established by the Bank, and amended by the Bank from time to time, setting out the prices charged by the Bank for certain services offered by the Bank. SEPA shall mean the Single Euro Payments Area, which includes the European Union, Norway, Liechtenstein, Iceland, Switzerland, and other countries included into the Single Euro Payments Area by the relevant decision of the European Payments Council. SEPA Direct Debit payment shall mean a form of payment, when the Client authorizes the Bank to execute Beneficiary s debit payment order from the Account, provided that it complies with the Mandate and SEPA Core Direct Debit Scheme (http://www.europeanpaymentscouncil.eu/). Signatures Samples Card shall mean a card, which contains a sample of Client s signature and, if applicable, samples of signatures and authorisations of Client s Authorised representatives. SWIFT/BIC (Bank Identification Code) code is code granted by International Standard Organisation (ISO) for identification of financial institutions. BIC code consists of 8 or 11-digit letter or letter and number combination and is unique to each financial institution. Time shall mean the Payment order submission time stated in Price List. On pre-holiday days, the latest Payment order submission time is shortened by 1 hour. 1

Unique identifier shall mean an account number in IBAN format, which should be used in order to identify unambiguously the Beneficiary. Web Page shall mean an Internet web page of the Bank at www.handelsbanken.lv. 2. Identification of the Client. Authorised representatives 2.1. The Bank identifies the Client and Authorised representatives according to the Bank s internal rules and requirements of applicable legislative acts. 2.2. Upon checking the identity of the Client and persons related to the Client and upon performance of the Client s due diligence, the Bank has the right to receive information from the relevant public authorities. 2.3. The Bank shall have the right to refuse accepting any document certifying the rights to represent the Client, if such representation rights have not been delegated precisely, clearly, unambiguously or validity of the representation is imprecise. 2.4. The Bank is entitled to ask the Client to provide information necessary for the Bank to comply with Law on the Prevention of Laundering the Proceeds from Criminal Activity (Money Laundering) and of Terrorist Financing and other relevant laws and regulations, including information regarding the Client s Beneficial owner, if any, private activity of the Client and its Beneficial owner, about financial situation, source of wealth and Payments executed by the Client. The Client shall be obliged to provide the Bank with all information and documents requested by the Bank. 2.5. The Client shall be entitled to authorise a private person to operate with the Client s Accounts at the Bank by indicating it in the Signatures Samples Card. In addition to the Signatures Samples Card the Client shall submit to the Bank a Power of Attorney, in the form acceptable by the Bank, which confirms the representation rights of the Authorised Representative. Authorised representatives are entitled to act on behalf of the Client in accordance with their authorisations stated in the Signatures Samples Card and/or in the Power of Attorney. The Client is responsible for the any action executed by Authorised representative and such actions shall be binding to the Client. 2.6. The authorisation indicated in the Signatures Samples Card shall be deemed valid, applicable and related to all transactions between the Parties in relation to the Client s Account opened with the Bank, unless the Bank has received a written revocation of the authorisation. Any amendments in the Signatures Samples Card shall become effective from the day when a new Signatures Samples Card is formed and signed and the Power of Attorney mentioned in the paragraph 2.5 therein is submitted to the Bank. In case the Client failure to perform above mentioned duties the Bank is not liable for the orders executed by the Bank and signed by the unauthorised persons. 3. Information confidentiality. Personal data 3.1. The Bank shall be entitled to process Personal data, if the relevant person has provided such information to the Bank, or such data is available publicly, or the Bank has otherwise acquired such data through legitimate means. The Bank is entitled to forward the Personal data to any third party, according to these General terms. 3.2. The Bank shall be obliged to maintain the confidentiality of all Personal data and the Client s information that under the Credit Institutions Law is considered as non-disclosable information. The Bank may only disclose information concerning the Client to third parties if it is required to do so under the applicable legislative acts or if the Client has consent thereto. 3.3. The Bank shall be entitled to disclose any Client s information and any Personal data to the following persons in the following cases: any person or entity, to whom the Bank has the right to disclose such information according to the applicable legislative acts (information may be disclosed to the extent permitted by such legislative acts); any person related to the execution of any service provided by the Bank to the Client, for example, international payment card organizations, communications services providers, printing and postal services, intermediaries and payment or settlement service providers, a surety, a notary public, etc. (information may be disclosed to such person to the extent required for provision of such service); any entity to whom the Bank assigns or transfers or intends to directly or indirectly assign or transfer any rights and/or obligations arising out of any agreement concluded between the Parties (if such assignment or transfer is permitted by the law or the particular agreement). 3.4. The Bank may process Personal data in order to perform its obligations arising from any agreement concluded between the Parties, or any applicable legislative acts, in order to provide the Client with suitable services, to ensure protection of the Client s rights, to diminish, manage and control the risks related to the Bank s activity, to evaluate the Client s financial reliability and creditworthiness, to avoid damages to the Bank and Bank Group and to protect the Bank s violated or disputed rights. The system controller for the processing of Personal data is Svenska Handelsbanken AB (publ). 3.5. In dealing with the Client s information and Personal data the Bank shall in any event comply with the requirements of applicable legislative acts and the Bank s internal rules and procedures concerning information security and confidentiality, and shall require any entity to whom the Bank supplies any Client s information or Personal data other than due to requirements of applicable legislative acts, to ensure the security and confidentiality of such information. 3.6. The Bank is entitled to record all Payment orders and other instructions received from the Client by any means of communications and use them to prove the content of such orders or instructions. The Bank facilities and surrounding areas may be monitored by the Bank s surveillance equipment and the information gathered in this way shall be used only in order to ensure the security of the Bank and the interests of the Bank and its clients. 4. Communication 4.1. The Bank shall provide the Client with information which should be provided to the Client in accordance with this Agreement, in the Bank s operating premises, through the Web Page or Internetbank, as well as by other means of communication. The Bank may send personal notices to the Client by post or via the Internetbank. Information communicated by the Bank to the Client shall be deemed received by the Client within the following time lapse: if delivered to the Client personally against a signature on the current date; if delivered to the Client in Latvia by registered mail on the fourth Business day as of the day of sending; if delivered to the Client outside Latvia by registered air mail or equivalent first class mail on the seventh Business day as of the day of sending; 2

if delivered to the Client using a courier service provider on the date of delivery by such service provider; if delivered to the Client via Internetbank on the next Business day following the day of sending; if published in the Web Page on the day of publishing such information. 4.2. The Client shall communicate with the Bank by sending or submitting any information to the Bank using the Bank s contact details indicated in the Web Page. Information sent by the Client shall be deemed received by the Bank within the following time lapse: if delivered personally against a signature of the Bank s employee on the current date; if delivered by registered mail in Latvia - on the fourth Business day as of the day of sending; if delivered by registered air mail or equivalent first class mail outside Latvia on the seventh Business day as of the day of sending; if delivered via Internetbank on the current date; if delivered using a courier service provider on the date of delivery by such service provider. 4.3. The Client shall immediately notify the Bank of all data that has been changed compared to the data provided by the Client before entering into this Agreement (e.g. amendment of Personal data or contact information), including about change of the Authorised representative s person identification document. Until receiving such a notice the Bank has the right to assume that the data related to the Client being at the Bank s disposal, is correct. 4.4. During the validity of this Agreement the Client has right to receive an information regarding the conditions of this Agreement, Payments execution and related costs, Account balance and other information in accordance with this Agreement. The terms and conditions of this Agreement and the Price List are provided to the Client upon signing of this Agreement. In case of further amendments of this Agreement and/or Price List, the Client is entitled to receive these documents in paper form, under the relevant request. If the Client asks to provide the above mentioned documents in paper form more frequently, the Bank shall be entitled to charge the Client pursuant to the Price List. 5. Rights, obligations and liabilities of the Parties 5.1. The Client shall be obliged to pay all payments due to the Bank, provide correct and complete information to the Bank according to its requests, as well as perform all other obligations towards the Bank arising out of this Agreement. 5.2. The Client is not allowed to assign any of its rights and obligations under this Agreement, fully or partially, to any third party without the prior written consent of the Bank. 5.3. The Parties shall perform their obligations arising from this Agreement duly, reasonably and in good faith. 5.4. The Bank is liable for the Payment order correct execution, in accordance with the Clause 12 of Payment services conditions. 5.4.1. If the Bank is Payer s responsible Payment service provider, the Bank shall immediately refund to the Payer Payment amount of non-executed or incorrectly executed Payment, or shall restore the debited Account to the state in which it was before the incorrect Payment took place. If the Bank can prove that the Beneficiary s Payment service provider has received the Payment amount in term defined in the Price List for the certain Payment type, then the Beneficiary s Payment service provider is liable against the Payer for the correct Payment execution. 5.4.2. If the Bank is Beneficiary s responsible Payment service provider, the Bank shall immediately credit the Beneficiary s Account with the relevant Payment amount. 5.5. The Payment order is deemed to be correctly executed: 5.5.1. with regard to Payments in any EEA member country s currency and executed in any EEA member country if it is executed accordingly to the Unique identifier stated in the Payment order; 5.5.2. with regard to Payments in another than EEA member country s currency or executed in another country if it is executed accordingly to the data stated in the Payment order. 5.6. If the Unique identifier or other Payment data provided by the Payer in the Payment order is incorrect, the Bank shall not be liable for non-execution or incorrect execution of the Payment order. However, on the Client s request, the Bank shall make reasonable efforts to recover incorrect Payment amount. The Bank charges the Client for funds recovery pursuant to the Price List. 5.7. In case of unauthorised Payment (subject to the paragraph 11.4 of the Payment services conditions) or if the Bank has executed the Payment incorrectly, except as stated in the paragraph 5.6 therein, and the Client has informed the Bank on such unauthorised or incorrect Payment within the term determined in the paragraph 14.6, the Bank shall immediately refund to the Client the Payment amount of unauthorised or incorrect Payment, or shall restore the debited Account to the state in which it was before such unauthorised or the incorrect Payment took place. 5.8. In case of non-executed or incorrect Payment initiated by the Payer, the Bank shall, regardless of the Bank s liability for it, on the Payer s request, make immediate efforts to track the Payment and notify the Payer on results. 5.9. The Bank shall not be liable against the Client: 5.9.1. if the Payment order execution has been refused in accordance with Clause 13 of the Payment service conditions; 5.9.2. for the delayed and non-executed Payment orders, if such delay or non-execution is related to the Bank s obligations arising from the applicable legislative acts; 5.9.3. for the delayed and non-executed Payment orders, if such delay or non-execution is caused by failure in payment systems, in data processing and data communications or any other program or system, through which the Bank performs the Payment orders execution; 5.9.4. for Payment order non-execution or delayed execution, if such non-execution or delayed execution is a result of the Client s breach of this Agreement; 5.9.5. for any damages and losses, except insofar as caused by gross negligence or willful misconduct of the Bank. The Bank shall in no event be liable for incidental damages or for the lost of profit. 5.10. Subject to prior notification to the Client, the Bank is entitled to assign its obligations under this Agreement, fully or partially, to any related entity or any third party, provided that it is not in contradict with essence of the obligation. 5.11. Neither Party shall bear liability for non-performance of the obligation insofar as and for so long as such non-performance is caused by an event of Force majeure (e.g. war, riot, forces of nature, the activities of public authorities, illegal third-party hindrance of the operations of such Party (bomb threats, etc.), general failure of communications lines or power failure, disturbances in postal services, data processing, data communications or any other circumstance, which is outside the control of the relevant Party). 5.12. The Bank shall have the right to suspend the performance of service to the Client for the short time if that is required due to the 3

planned maintenance and development work on the payment system and in order to eliminate failures in the provision of service. The Bank shall inform the Client about such planned works by publishing information on the Web Page or by sending respecting message through the Internetbank. In case of necessity to perform extraordinary maintenance and development work upon occurrence of special circumstances the Bank shall make reasonable efforts to fix technical problems of a payment system as soon as possible. 5.13. Availability of Payment service to the Client may be limited, or the provision of Payment service may became fully or partially impossible to the Bank due to the emergency events in the financial markets or special political circumstances, or the instructions or restrictions of state institutions, or changed requirements of legislative acts and other legal aspects, or any restrictions set by third parties (services providers related to the Payments execution). In such cases the Bank is not obliged to provide the Payment service to the Client and the Bank shall immediately inform the Client thereof. 6. Amendments and termination of this Agreement 6.1. The Bank shall have the right to make unilateral amendments in this Agreement and Price List subject to the prior notification of the Client. The Bank shall inform the Client about amendments by publishing information in the Web Page or by any other means of communications provided to the Bank by the Client before entering into this Agreement or later, not later than 2 (two) months before the entry of such amendments into force. 6.2. The Client is to be deemed to have accepted the amendments proposed by the Bank, and the amendments are to be binding to the Client, if the Client does not notify the Bank in writing that disagrees with amendments before the proposed date of their entry into force. If the Client does not agree with the proposed amendments it has right to terminate this Agreement by giving to the Bank 2 (two) Business days prior written notice, or notifying the Bank in other manner accepted by the Bank. Termination of this Agreement shall not release the Client from performance of obligations related to or arising out of this Agreement or its termination. 6.3. If any provision of this Agreement is or becomes invalid or unenforceable under Latvian law, such a provision shall not affect the validity or enforceability of any other provision of this Agreement. The Parties, acting in good faith, shall agree upon the amendment of such invalid or unenforceable provision in order to achieve the intended effect of such provision insofar as is possible. 6.4. The Client is entitled to terminate this Agreement and close the Account at any time, by notifying the Bank in writing at least 5 (five) Business days in advance, provided that the Client has paid in full to the Bank all fees and any other amounts and indebtedness payable to the Bank under this Agreement, as well as under any other agreement entered into between the Parties. If the Account is required for any other service provided by the Bank to the Client, or if it is necessary in relation to any obligations that the Client must perform towards the Bank, the Account may not be closed until the Client has performed its obligations. 6.5. The Bank may terminate this Agreement, by giving the Client a written notice 2 (two) months in advance, if any of the following circumstances occurs: 6.5.1. the Client has failed to provide any information and/or documents requested by the Bank in accordance with the legislative acts of the Republic of Latvia or in accordance with any agreements concluded between the Parties, which is necessary for the Client s identification and due diligence (including regarding the Beneficial owners, the Client s transactions and Client s business activities, financial situation and source of wealth), or any information provided by the Client to the Bank is incomplete, untrue or misleading; 6.5.2. the Bank reasonably suspects that Client s Payment or several Payments are related with Money Laundering or terrorist financing, or other criminal activity; 6.5.3. the Client has failed to perform any obligation against the Bank or any member of the Bank Group and there is no agreement on performance of such obligations; 6.5.4. any other reason which in the Bank s opinion constitutes sufficient grounds for termination of business relationship with the Client; 6.5.5. there has been no activity on the Account during last 12 months (inactive account); 6.5.6. any other basis arising out of applicable legislative acts. 7. Consequences of the Agreement termination 7.1. If the Client wishes to terminate this Agreement, the Client shall inform the Bank about the manner, in which the Client shall receive the Account balance amount (if any) by closing of the Account. 7.2. If the Bank terminates this Agreement, the Client shall be obliged, pursuant to the request of the Bank, to notify the Bank about the manner, in which the Client shall receive the Account balance amount (if any) by closing of the Account. 7.3. Termination of any agreement concluded between the Parties shall have no impact on the collection and satisfaction of claims that have arisen prior to termination of such agreement. 7.4. Upon termination of this Agreement the Bank shall transfer to the Account the interest on funds on the Account payable by the Bank under this Agreement, if any, and withdraw from the Account all fees and all other amounts payable to the Bank and other debts of the Client due to the Bank. The Bank shall transfer funds to such other bank account as requested by the Client. 7.5. If, upon termination of this Agreement, the Client has not notified the Bank about the manner, in which it would like to receive the Account balance amount (if any) by closing of the Account, the Bank shall be entitled to charge a fee stated in the Price List for inactive account maintenance until the Client provides to the Bank an order to transfer remaining assets or till the balance of the Account is zero or negative. Then the Bank shall immediately close the Account. 7.6. Upon termination of this Agreement, the Bank shall have the right to terminate all other contracts and agreements concluded between the Parties which require the Account to be opened. 7.7. The Bank closes the Account after the each Party s obligations under this Agreement have been duly performed, and no other agreement between the Parties requires the Account to be open. Once the Account is closed, it cannot be re-opened. 8. Governing law and disputes resolution 8.1. This Agreement shall be governed by Latvian law. 8.2. In case of any dispute arising out of or related to this Agreement, the Parties shall first attempt to resolve such dispute by negotiations. If either Party considers that the dispute cannot be resolved by negotiations, the dispute shall be settled the courts of the Republic of Latvia, in accordance with the legislative acts of the Republic of Latvia. 8.3. The Client is entitled on out-of-court settlements of complaint and redress disputes. The detailed information on the above procedure is described on the Web page. 4

9. Supervisory authority 9.1. In the Republic of Latvia a supervisory institution for the branch is Financial and Capital Markets Commission (www.fktk.lv). The Swedish Financial Supervisory Authority for the bank is Finansinspektionen (http://www.fi.se/folder- EN/Startpage/). Chapter III. Payment services conditions 10. Payment order 10.1. The Client shall submit the Payment orders to the Bank in the form prescribed by the Bank specifying all required information. The Client is allowed to use free format of Payment order, provided that it shall contain all information necessary for the Payment execution, in accordance with paragraph 10.2 therein. 10.2. The Payment order must contain the following data: Payer s name and registration number; Payer s Account number (in IBAN format); Beneficiary s name/ name and surname and registration number/ ID code and/or address; Beneficiary s Unique identifier (for EEA member state) or Beneficiary s account number and code or name, address of the Payment service provider (for other state); Payment amount and currency (in case the Payment order is submitted in paper form the amount and currency must be stated both in words and numbers. In case of a discrepancy between a numerical value expressed in numbers and in words, the value expressed in words shall prevail); purpose of the Payment/ standard reference (SEPA); resident s/non-resident s sign (if Payment is executed between the resident and non-resident the external payment code and non-resident s state code must be indicated); the type of Payment and Payment fee covering type pursuant to the Price List. 10.3. The Client shall submit the Payment order to the Bank: 10.3.1. in paper form. Upon receiving a Payment order in paper form, the Bank shall compare signature on the order with the signature in the Signatures Samples Card. The Bank shall be entitled to assume the authenticity of the Payment order submitted provided that the signature visually coincides with the specimen thereof in the Signature Samples Card, and in such a case the Bank shall not be liable for damages caused to the Client if the signature is forged. The Payment order shall be clearly readable, filled in with Latin letters, without expunges and corrections. The Payment order in paper form must be submitted to the Bank in 2 (two) identical copies. A signature of the Bank s employee on the Payment order shall serve only as a proof that the Bank has accepted the order for execution. 10.3.2. through Internetbank, provided that the Client has signed the relevant agreement with the Bank. If the Payment order is submitted through Internetbank, then in order to identify the Client/Authorised representative the handwritten signature is replaced by electronically communicated codes, passwords and/or other data, the issuing and usage procedure of which is stipulated in the respective agreement. 10.4. The Payment order shall be valid: if submitted through Internetbank - 1 (one) Business day; if submitted in paper form - 5 (five) Business days. If the Client has no enough funds on the Account for Payment execution and the Bank s fee coverage during 5 Business days, the Bank shall leave the Payment order without execution. 10.5. The Bank is entitled to refuse from accept the Payment order if a person fails to identify himself/herself as the Client or Authorised representative. In this case the Bank shall bear no liability for damage or loss caused to the Client for refusing to execute the Payment order. 10.6. The Bank shall execute only Payment orders that are in a form acceptable to the Bank, unambiguous, precise, executable and from what the Clients intention is clearly visible. The Bank shall bear no liability for forwarding errors, ambiguities, abuses and/or mistakes in the Payment orders received from the Client. The Bank shall bear no liability caused by accidental repetition of Payment orders if the Client has duly approved them. 10.7. If the Bank has reasonable doubts about the legality or authenticity of the Payment order, the Bank shall have the right to demand an additional confirmation from the Client or refuse the execution of such Payment order. The Bank shall be released from any liability for delaying or refusing the execution of the Payment order due to such reasons. 11. Commencement of Payment 11.1. A Payment is commenced when the Client has submitted the Payment order to the Bank. 11.2. The time of Payment order receipt is the time when the Bank has received the Payment order submitted by the Client. If the Payment order has been submitted after the latest Payment order submission Time, or after the end of Bank s Business day, or on the day which is not a Business day, the Payment order shall be deemed to have been received on the following Business day. If the submission Time is not indicated, Payment orders may be submitted during the Bank s business hours or through Internetbank. 11.3. The Client gives its consent to execute the Payment and the Payment is considered to be authorized by the Client, by submitting to the Bank the Payment order, which contains all data necessary for the Payment execution, in accordance with paragraph 10.2 therein, and provided that the Payment order is signed/approved in accordance with paragraph 10.3 therein. In case of payment card the Client s consent to execute the Payment is deemed to be a correctly entered PIN code or a signature on the transaction document. 11.4. In the absence of the Client s consent to execute the Payment as stated in the paragraph 11.3 above, the Payment shall be considered to be unauthorised. 12. Execution of Payment order 12.1. The Client shall at all time ensure sufficient funds in the relevant currency on the Account for Payment orders execution 5

and for paying related fees. In case of absence of sufficient funds in the relevant currency and unless agreed otherwise, the Bank shall have the right not to execute the Payment order. If the Client has submitted several Payment orders with total amount which exceeds funds available on the Account, the Bank is entitled to execute Payment Orders on sequence at its own discretion. 12.2. The Bank shall execute the Payment order within the period provided in the legislative acts of the Republic of Latvia and other regulations binding on the Bank, except where the Bank is entitled to act otherwise in accordance with the agreement concluded between the Parties. 12.3. The time of Payment execution depends on certain Payment type indicated in the Price List. When submitting the Payment order to the Bank the Client shall choose appropriate Payment type. If the Client has not specified a Payment type in the Payment order submitted to the Bank in paper form the Payment order shall be executed as Standard. 12.4. In case of outgoing Payment the Bank shall ensure that after the Payment order is receipt by the Bank, as determined in the paragraph 11.2, or on the term of the Payment execution as stated in the Payment order, the Payment amount is credited to the account of the Beneficiary s Payment service provider in accordance with terms (time) of transfers indicated in the Price List. 12.5. In case of incoming Payment: 12.5.1. if the Payment is in any EEA member country s currency and executed in any EEA member country the Bank shall ensure that the Payment amount is credited to the Account and is at the disposal of the Client (Beneficiary) on the same Business day when the respective Payment amount is credited to the Bank s account; 12.5.2. if the Payment is in another currency or should be executed in other country than mentioned in the paragraph 12.5.1 above, the Bank is entitled not to credit the Payment amount to the Account unless the Bank ascertains that the relevant amount is credited to the Bank s account with the Correspondent bank. 12.6. Upon executing a Payment the Bank shall not deduct charges from the Payment amount and shall transfer full Payment amount to the Beneficiary or credit the Account with full Payment amount. 13. Bank s refusal to execute the Payment order 13.1. The Bank shall have the rights not to execute the Payment order(s) in the following cases: 13.1.1. the Signature on the Payment order are different from that indicated in the Signatures Samples Card being at the Bank s disposal; 13.1.2. the Client has submitted the Payment order in currency not accepted by the Bank; 13.1.3. the available balance on the Client s Account(s) is not sufficient for Payment execution and covering the Bank s fee; 13.1.4. all required information is not indicated in the Payment order in accordance with the paragraph 10.2, or information provided is inaccurate or faulty. The Bank shall have rights but is not obligation to obtain from the Client additional information. In case when it is not possible to reach the Client, the Bank is entitled to leave the Payment order without execution; 13.1.5. the Bank has reasonable suspicions on the authenticity of submitted Payment order. The Bank shall have the right to demand additional information from the Client (e.g. confirmation of deal). In this case the Bank shall bear no liability for damage or loss caused to the Client for delayed Payment order; 13.1.6. the funds in the Account are distrained or seized, or settlement transactions in the Account are suspended; 13.1.7. the Payment order execution is prohibited in accordance with legislative acts applicable to the Bank. 13.2. Unless the applicable legislative acts prohibit the Bank, the Bank shall inform the Client about refusal of Payment order execution and its reasons. If the Client uses Internetbank, the above information is available to the Client in Internetbank. If the Client does not use Internetbank, the Bank shall contact the Client and inform about refusal and its reasons. 14. Information on Payment execution 14.1. In case of outgoing Payment the Bank shall provide the Payer at least with following information after the Payment amount is debited from the Account: the unique transaction number, which allows to identify the executed Payment, and information on Beneficiary name, surname, account number, etc.; the Payment amount in a currency in which it was written off from the Account, or in a currency stated in the Payment order; the fee amount; the exchange rate applicable to the Payment in case of currency conversion, and the Payment amount after such conversion; the Account debiting date. 14.2. In case of incoming Payment the Bank shall provide the Beneficiary (Client) at least with following information after the Payment amount is credited to the Account: the unique transaction number, which allows to identify the Payment, and information on Payer - name, surname, account number, etc.; the Payment amount in a currency in which it was credited to the Account; the fee amount; the exchange rate applicable to the Payment in case of currency conversion, and the Payment amount before such conversion; the Account crediting date. 14.3. If the Client uses Internetbank the information stated in the paragraphs 14.1 and 14.2 is available to the Client in Internetbank. 14.4. If the Client does not use Internetbank the information stated in the paragraphs 14.1 and 14.2 is provided to the Client in the Account statement, which the Client receives for the period stated in the Current account application. The Account statement shall be prepared in accordance with the Bank s standard Account statement form. 14.5. Upon the Client s request, before Payment execution the Bank shall provide the Client with explicit information on the Payment maximum execution time, fee amount and, if applicable, division of fee amount. 14.6. The Client shall acquaint with the Account statement on a regular basis. The Client shall inform the Bank as soon as the Client becomes aware of any unauthorized and/or incorrect Payment, but not later than 13 (thirteen) months after the Payment amount has been debited from the Account. After expiry of that term the Client has no rights to obtain recompense from the Bank on such unauthorized and/or incorrect Payment. 15. SEPA Direct Debit payments 15.1. Before to start SEPA Direct Debit payment, the Client shall grant the Mandate to the Beneficiary stating all necessary information, including the Unique identifier. For SEPA Direct Debit payment purposes the Client is identified based on the Svenska Handelsbanken AB (publ) Svenska Handelsbanken AB Latvijas filiāle Adrese: Cēsu iela 31/ 9 Tālrunis: + 371 67385843 reģistrēta Zviedrijas finanšu uzraudzības iestādes (Finansinspektionen) Reģistrācijas Nr.: 40003960512 Rīga, LV-1012 Fakss: + 371 67385857 banku reģistrā ar reģistrācijas numuru: 502007-7862 BIC: HANDLV22 Latvija www.handelsbanken.lv Juridiskā adrese: Kungsträdgårdsgatan 2, SE 10670, Stokholma, Zviedrija 6

Client s Unique identifier stated in the SEPA Direct Debit payment. 15.2. When the Client has granted the Mandate to the Beneficiary, it means that the Clients has given to the Bank its consent to execute Payment/-s based on the Beneficiary s SEPA Direct Debit order, and each such Payment shall be deemed as Client s authorized Payment. Such Client s consent to execute Payments shall be valid until the Client has revoked the Mandate, or until the expiry date of the Mandate (the Mandate shall automatically expire if within last 36 months has not been executed no one direct debit payment under the particular Mandate). 15.3. The Client is entitled to revoke the Mandate at any time, by informing the Bank and Beneficiary. Revocation to the Bank shall be submitted in the Bank s form (Registration form - SEPA Direct Debit mandate) and it comes into force on the next Business day. 15.4. The Client is entitled to state restrictions for the execution of the SEPA Direct Debit payments. The Client may restrict execution of the SEPA Direct Debit orders from the Client s Accounts, for example, by setting limit (it shall apply for all Client s Accounts). The Client may impose restrictions to the separate Account, particular Beneficiary, as well as may restrict regularity and amount of the SEPA Direct Debit payment. In order to state such restrictions the Client shall submit to the Bank completed Bank s form - Registration form - Debtor Restrictions in SEPA Direct Debit. Restrictions will come into force from the next Business day. 15.5. The Client is entitled to refuse execution of the SEPA Direct Debit payment before the Payment value date, the latest one Business day before the Payment value date. 15.6. The Bank is entitled to reject execution of the SEPA Direct Debit payment if funds on the Account are not sufficient, or Account is blocked or closed. 15.7. The SEPA Direct Debit payment shall be executed in accordance with information stated in the Mandate. If the SEPA Direct Debit payments date is not the Business day, the Payment shall be executed on the next Business day. 15.8. The Client is entitled within the eight weeks after Payment execution date to ask the Bank to refund the amount which has been transferred based on the SEPA Direct Debit payments. If the Client has executed these refund rights, in any case it does not affect Beneficiary s claim against the Client. 15.9. The Client is obliged immediately as soon as the Client became aware to notify the Bank about incorrectly or erroneously executed or unauthorised Payment. The Client shall inform the Bank about unauthorised Payment within 13 (thirteen) months after such Payment execution, after that term the Bank is not liable against the Client on unauthorised Payment execution. 16. Payments in different currencies 16.1. The Parties agree that in case of currency conversion made by the Bank (upon the Client s respective order, or executing Payment, or debiting the Account with fees and other amounts payable by the Client, or in other cases pursuant to this Agreement) the Bank s exchange rate shall apply unless the Parties have agreed another currency exchange rate in each particular case. If the Client uses Internetbank the information on Bank s exchange rates is available to the Client in Internetbank. If the Client does not use Internetbank the information on the Bank s exchange rate used for the particular transaction is provided to the Client in the Account statement, or, upon the Client s request, the Bank shall submit this information to the Client in other manner. 16.2. In case a Payment to a single-currency Account is made in a currency, which is not the currency of the Account, the paid amount shall be converted to the Account currency according to the Bank s exchange rate. 16.3. If the Account is a multi-currency account, then any currency, in which the Bank in general performs transactions, may be deposited and/or kept in the Account. Payment to the Account in any other currency shall not be accepted or processed by the Bank. The list of currencies in which the Bank in general performs transactions is available on the Web page. If the Bank ceases to service any currency, or if the Bank commences servicing a currency not serviced before, it shall publish such information on the Web page. 16.4. The Bank may apply any conditions and/or restrictions to the Payment in foreign currency, which have been established in the country of origin of that currency, and which affect the Bank in executing Payments in that currency. 17. Fees 17.1. The Bank is entitled to receive and the Client is obliged to pay, in relation to any service provided by the Bank to the Client, the fees stipulated in the Price List and/or any agreement concluded between the Parties. 17.2. Fees payable by the Client to the Bank shall be calculated and paid in euro (EUR), unless an agreement between the Parties or the Price List expressly states otherwise. Other amounts payable by the Client shall be paid in the currency agreed between the Parties. If there are no funds in the appropriate currency the Bank is entitled to convert any other available currency, on the Bank s discretion, applying the Bank s exchange rate. 17.3. The Payment fee covering types are stated in the Price List. 17.4. If the Client has not specified fees type in the Payment order submitted in paper form, the Bank shall apply Shared (SHA) fee type. 17.5. In case the Payment order is in any EEA member country s currency and executed in any EEA member country fee type should apply as following: 17.5.1. Shared (SHA) - Payment does not involve currency conversion. If the Client in Payment order has stated fee type Payer (OUR), then by Payment execution Bank changes it to Shared (SHA); 17.5.2. Payer (OUR) - Payment involves currency conversion and furthermore entire Payment amount is converted. 17.6. Fees for incoming Payments in favor of the Client are deducted in accordance with the Price List. 17.7. The Bank shall have the right to determine reasonable and fair fees for services not included in the Price List, but necessary for the Payment order execution. In such an event, the Client shall have the right to request from the Bank to present the documents certifying such actual costs. 18. Interest and other amounts payable by the Client 18.1. The Client must ensure a positive balance on the Account, unless an overdraft or other arrears on the Account have been permitted by an agreement concluded between the Parties. 18.2. The Client shall keep sufficient funds on the Account in order to enable the Bank to debit the Account with all fees, other amounts and indebtedness payable by the Client to the Bank. If Svenska Handelsbanken AB (publ) Svenska Handelsbanken AB Latvijas filiāle Adrese: Cēsu iela 31/ 9 Tālrunis: + 371 67385843 reģistrēta Zviedrijas finanšu uzraudzības iestādes (Finansinspektionen) Reģistrācijas Nr.: 40003960512 Rīga, LV-1012 Fakss: + 371 67385857 banku reģistrā ar reģistrācijas numuru: 502007-7862 BIC: HANDLV22 Latvija www.handelsbanken.lv Juridiskā adrese: Kungsträdgårdsgatan 2, SE 10670, Stokholma, Zviedrija 7

there are no funds in the Account or funds are insufficient for debiting fees and other amounts arising out of the agreements concluded between the Parties, the Bank shall, at the Bank s own discretion, be entitled to debit the said amounts from any other accounts the Client has at the Bank, including the funds in other currencies by converting necessary amount according to the Bank s exchange rate. Such Payment order is considered to be the Client s contractual commitment and therefore is irrevocable. 18.3. If any amount payable by the Client to the Bank is or becomes subject to any tax or duty or similar mandatory payment, then the Bank shall be entitled to receive and retain such amount net of any relevant mandatory payment, and the Client shall be obliged to increase the amount payable by an amount, which would be sufficient for payment of any such tax or duty or similar mandatory payment. 18.4. The Bank is entitled to debit any Client s Account with the Bank without any further Client s authorisation, and such debiting transaction is not to be considered an unauthorised Payment as determined in paragraph 12.4, in each of the following cases: 18.4.1. in cases stipulated by legislative acts of the Republic of Latvia or other applicable laws and regulations; 18.4.2. in the case of Bank s mistake, delusion or oversight upon crediting the Account; 18.4.3. in other cases in accordance with the agreements concluded between the Parties. 18.5. Any funds deducted from the Account by the Bank in order to pay any amount that is payable by the Client to the Bank, and is due and unpaid, as well as any funds received by the Bank for such purpose by way of enforcement of any collateral, shall be applied to compensate due and unpaid obligations in the following order (until other order is stipulated in the relevant agreement between the Bank and Client): 1) default interest payment; 2) payment of any interest; 3) payment of any principal amount due to the Bank; 4) payment of any amounts payable to the Bank in relation to this Agreement, Payments, currency conversion; 5) payment of any penalty (if such is stipulated in the agreement). 18.6. The Bank shall transfer accrued interest, if any is payable pursuant to the Price List, to the Account on the last Business day of each month unless the Parties have agreed another order. The Bank shall calculate an interest on the basis of the actual number of days in a calendar month in a 365-days year. 19. Payments investigation 19.1. The Bank shall perform Client s incoming and outgoing Payments investigation (correction and cancellation). 19.2. If the Payment investigation is initiated by the Bank (the problem has been discovered by the Bank or the Bank has received request from other bank) then the Bank shall inform the Client regarding the case and clarify further actions. 19.3. If the Payment investigation is initiated by the Client, the Client shall submit to the Bank a relevant application (by using the Bank s standard form or other application previously agreed with the Bank) and shall pay fee for the investigation pursuant to the Price List. If it is established that it s the Bank s mistake, the fee shall be returned to the Client. 19.4. The Client may not revoke the Payment order after the Bank has received it, except the cases the Parties have agreed otherwise. 19.5. The Client shall cover additional costs related to Payment investigation if those fees exceed in Price List stated costs. In such case, the Client shall have the right to request from the Bank to present documents certifying such actual costs. 20. Intermediary banks (Correspondent banks) 20.1. In order to execute the Client s Payment orders (except Intrabank and Domestic payments in lats) the Bank shall use Correspondent bank s accounts. The valid list of Correspondent bank s shall be published in the Web page. 20.2. If the Client has not specified the Intermediary bank (Correspondent bank) for the relevant currency, the Bank shall be entitled to select the Intermediary bank (Correspondent bank) based upon the information specified in the Payment order without agreeing with the Client. If such a Payment is returned to the Bank, the Bank shall perform a repeated Payment on its own expense. If the repeated Payment is returned to the Bank, the transfer amount shall be returned to the Account without returning the fee for Payment. 20.3. The Client assumes all risks related to funds, being credited to other bank s accounts which are not Correspondent bank of the Bank. The Bank shall not assume risk of currency exchange limitations, taxes, duties and other payments valid in the respective country, as well as from revision of legislation of the respective country, court awards, and resolutions of other administrative institutions and decisions of the central bank, that may cause losses to Bank or the Client. Svenska Handelsbanken AB (publ) Svenska Handelsbanken AB Latvijas filiāle Adrese: Cēsu iela 31/ 9 Tālrunis: + 371 67385843 reģistrēta Zviedrijas finanšu uzraudzības iestādes (Finansinspektionen) Reģistrācijas Nr.: 40003960512 Rīga, LV-1012 Fakss: + 371 67385857 banku reģistrā ar reģistrācijas numuru: 502007-7862 BIC: HANDLV22 Latvija www.handelsbanken.lv Juridiskā adrese: Kungsträdgårdsgatan 2, SE 10670, Stokholma, Zviedrija 8