While remitting money by the USER under the ‘Instant Money Transfer’ facility it is deemed that the USER has agreed and accepted all the terms and conditions mentioned herein in addition to and not in derogation of all other terms and conditions relating to any other account of the USER and/or the respective product or the service provided by the BOI.
The following words and phrases shall have the meanings set out herein below in this document unless repugnant to the context:
The User may submit instruction to cancel any request for IMT placed with BOI Such instruction can be submitted through Internet Banking or BOI ATMs in such form and manner as may be specified by BOI. However any instruction cancelling a request made for IMT received by BOI after the funds / money has been received by the Beneficiary shall be ineffective and BOI shall not be held liable for execution of such instruction.
The User irrevocably and unconditionally authorises BOI to access USER’s Account for effecting instructions for funds transfer through the Facility and to share the Account information with any third parties for the purpose of accepting/ executing such requests of the User.
All the records of the transactions that is received by the User at the time of operation of Facility is a record of the operations so carried out by the User and shall not be construed as BOI’s own record of the transaction maintained through computer system or otherwise shall be accepted as conclusive and binding for all purpose. All records of BOI generated by the transactions arising out of use of the Facility, including the time of the transaction recorded shall be conclusive proof of the genuineness and accuracy of the transactions.
The user takes the responsibility for the correctness of the information supplied by USER to the BOI through the use of the said facility or through any other means such as electronic mail or written communication.
The user herein accepts that in case of any discrepancy in the information provided by him with regard to this facility the onus shall lie upon the user only and thus agrees to furnish accurate information at all times to the BOI. If the User suspects that there is an error in the information supplied by BOI to him, he shall inform the BOI immediately. The BOI will endeavour to correct the error promptly wherever possible on a best effort basis.
BOI shall also not be responsible for any incidental error which occurs in spite of necessary steps being taken by the BOI to ensure the accuracy of the information provided to the user and the user shall not have any claim against boi in an event of any loss/damage suffered by the user as a consequence of the inaccurate information provided by the bank.
In consideration of BOI providing the IMT Facility, the User, at his/their own expense, agrees to indemnify, defend and hold harmless, BOI, its directors and employees, representatives, agents, as the case may be, against all losses, damages, expenses, actions, claims, demands and proceedings whatsoever, that BOI may incur, sustain, suffer or be put to at any time as a consequence of acting on or omitting or refusing to act on any instructions given by the User or otherwise for use of the Facility.
BOI reserves the absolute discretionary right to make any amendments in the given terms and condition at any time as it may deem fit without any prior notice to the user. Any such amendment shall be communicated to the user by displaying on the website http://www.bankofindia.com; and the USER shall be bound by such amended terms and conditions. The User shall be responsible for regularly reviewing these Terms and Conditions including amendments thereto as may be posted on website and shall be deemed to have accepted the amended Terms and Conditions by continuing to use the Facility.
BOI may, at its discretion, withdraw temporarily or terminate the Facility, either wholly or in part, at any time without giving prior notice to the User. BOI may, without prior notice, suspend the Facility at any time during which any maintenance work or repair is required to be carried out or in case of any emergency or for security reasons, which require the suspension of the Facility. BOI shall Endeavour to give a reasonable notice for withdrawal or termination of the Facility. The closure of the Account of the User will automatically terminate the Facility. BOI may suspend or terminate Facility without prior notice if the User has breached these Terms and Conditions or BOI learns of the death, bankruptcy or lack of legal capacity of the User.
BOI and the user may give notice under these terms and conditions electronically to the mailbox of the user (which will be regarded as being in writing) or in writing by delivering them by hand or by sending them by post to the last address given by the User and in case of BOI at its office at Star House, C-5 G Block, Bandra Kurla Complex, Bandra (East), Mumbai 400051. In addition, the BOI shall also provide notice of general nature regarding the facility and terms and conditions, which are applicable to all users of the Facility, on the website http://www.bankofindia.com and/ or also by means the customized messages sent to the user over his mobile phone as short messaging service ("SMS"). In addition the BOI may also publish notices of general nature, which are applicable to all users of the facility. Such notices will be deemed to have been served individually to each user.
The construction, validity and performance of these Terms and Conditions shall be governed in all respects by the laws of India. The parties hereby submit to the exclusive jurisdiction of the competent Courts at Mumbai, India which courts shall have jurisdiction in the matter to the exclusion of any other courts, irrespective of whether such other courts have similar jurisdiction in the matter. The BOI is absolved of any liability arising, direct or indirect, for non-compliance with the laws of any country other than India where the facility is accessible.
BOI shall have the paramount right of set-off and lien, irrespective of any other lien or charge, present as well as future on the deposits of any kind and nature (including fixed deposits) held/ balances lying in any other Account/s of the User maintained with BOI, whether in single name or joint name(s) and on any monies, securities, bonds and all other assets, documents and properties held by/ under the control of BOI (whether by way of security or otherwise pursuant to any contract entered/ to be entered into by the User in any capacity) towards the satisfaction of the User's liability under the Facility.
BOI may hold and process USER’s personal information concerning his Account on computer or otherwise in connection with the Facility as well as for analysis, credit scoring and marketing. The User also agrees that BOI may disclose, in strict confidence, to other institutions, such information as may be reasonably necessary for reasons inclusive of but not limited compliance with legal directive, for credit rating by recognized credit scoring agencies, and for fraud prevention.
Acting in good faith on any instructions received by BOI from or on behalf of the User in relation to the Facility;
Error, default, delay or inability of BOI to act on all or any of the instructions given by the User
Loss of any information/instructions in transmission;
Unauthorized access by any other person to any information /instructions given by the User or breach of confidentiality;
Without limitation to the other provisions of this terms and conditions BOI and its affiliates, subsidiaries, employees, officers, directors and agents,
Expressly disclaim any liability /loss if :-
Shall not be liable for and in respect of any loss or damage whether direct, indirect or consequential, including but not limited to loss of revenue, profit, business, contracts, anticipated savings or goodwill, loss of use or value of any equipment including software, whether foreseeable or not, suffered by the User or any person howsoever arising from or relating to any delay, interruption, suspension, resolution or error of BOI in receiving and processing the request or any failure, delay, interruption, suspension, restriction, or error in BOI’ system and/or any third party who provides such services as is necessary to provide the Facility
Shall not be liable for non-availability of the Facility or non-performance by service providers if any if any, engaged by BOI or any loss or damage caused to the User as a result of use of the Facility for causes which are not attributable to BOI.