1. THE BPI EXPRESS CREDIT CARD/BPI CREDIT CARD (“CARD”) – The Card issued to the Company for use of its employee or such other person as may be designated by the Company (the “Cardholder”), is the sole property of the Bank of the Philippine Islands (BPI). It is issued to the Company for the Cardholder’s business expenses use only and is non-transferable. The privileges of the Card may be terminated by BPI at any time and for whatever reason or cause without need of prior notice to Company and the Cardholder. The Company and/or the Cardholder agree to perforate the Card upon termination of the Card. Continued use of the Card after receipt of the written notice of termination shall be deemed fraudulent and will subject the Company and/or Cardholder to appropriate legal proceedings. Delivery of the said written notice at the Company’S latest reported mailing address shall be considered sufficient receipt of the notice of termination by the Company and the Cardholder. The issuance of the Card shall not create any other obligations on the part of BPI other than those expressly stated herein.

2. RESPONSIBILITY OF THE CARDHOLDER AND COMPANY – The Company shall be liable for all purchases and cash advances made through the use of the Card, including all interests, penalties, fees, and all other charges without the necessity of proof of signed charge slips. If the Cardholder avails of the cash advance feature at any BPI Automated Teller Machine (ATM)/ and/or authorized network, the Company hereby agrees to accept and pay for all cash advances including the corresponding interests, penalties, fees, and other charges without the necessity of proof or ATM withdrawal/transaction record. Subject to the provisions of Section 5 (Loss of the Card), 7 (Statement of Account) and 10 (Customer Service) hereof, BPI shall not be liable for any fraudulent or unauthorized use of the Card including that which is caused or occasioned by receipt of the Card by the Company’s and/or Cardholder's authorized representative. The Company and the Cardholder agree that all purchases and cash advances made using the Card are conclusively presumed to have been personally made or authorized by the Company and Cardholder.

3. EXPIRY, RENEWAL AND REINSTATEMENT OF THE CARD – Unless earlier terminated by BPI, or voluntarily cancelled by the Company, the Card shall be valid from the date of issuance or renewal and expires on the last day of the month indicated on the face of the Card. Renewal of the Card shall be at the option of BPI. BPI shall likewise have the option of reinstating the Card’s privileges which have been terminated for any reason whatsoever upon request of the Company and its payment of an additional processing fee equivalent to the annual fee.

4. ACCREDITED ESTABLISHMENT – BPI has contracted with establishments to honor the Card for purchases of food, goods, merchandise, and services. Likewise, BPI has entered into an agreement with MasterCard where the Card issued bearing the MasterCard label shall be honored at all MasterCard accredited establishments worldwide. Notwithstanding the preceding, however, BPI shall not be responsible/liable to the Company and the Cardholder, if, for any reason, the Card is not honored by the accredited establishments or MasterCard. Cardholder should always carry an alternative payment method and not solely rely on the Card to process payment of goods and/or services.

The Company’s liability to BPI is absolute. The existence of any claim or dispute between the Company and/or the Cardholder and any accredited establishment shall not affect Company’s obligation to pay the purchases, availments, and cash advances together with all interests, penalties, fees, and other charges incurred thereon, if any, arising from the Company and/or Cardholder'S use of the Card (the “Total Outstanding Balance” or “TOB”). In cases of return of goods, tickets, and services obtained through the use of the Card where the merchant permits such return, the Company and the Cardholder agree that, (i) the refund shall not be in cash; and (ii) BPI shall credit the Card’s account for the refund.

5. LOSS OF THE CARD – It is the responsibility of the Company and Cardholder to safeguard the Card at all times against loss, theft, fraudulent or unauthorized use. In case of loss or theft of the Card, Company and/or the Cardholder agrees to promptly report such fact to BPI by calling our 24-hour BPI Contact Center (+632) 889-10000 ( all areas with “02” area code), 1-800-188-89100 (domestic toll free for PLDT) and 63+2+889-10000 (mobile phone and international calls) or its toll free numbers in selected countries listed at www.bpi.com.ph, giving details of the place, date, time and circumstances of the incident and the last purchase(s) made prior to the loss or theft of the Card. Any availment/transaction made or incurred prior to reporting to BPI of such loss or theft of the Card shall be for the sole account of the Company. Prior to receipt of such report via 24-hour BPI Contact Center at (+632) 889-10000, Company expressly agrees to be held liable for all purchases, cash advances, and charges made or incurred from the use of the lost or stolen Card even if said transactions were incurred without the knowledge or authority of the Cardholder and/or Company. BPI and its merchant partners shall be rendered free and harmless from any and all liabilities, claims, damages, and costs arising from the fraudulent or unauthorized use of the Card. A reasonable fee shall be charged by BPI for replacement of the lost or stolen Card.

6. CREDIT LIMIT – Upon acceptance of Company's application, BPI, based on the written instruction of the Company and provided that the amount requested is within the available credit line granted by BPI to the Company (the “Credit Line”), at its sole discretion, shall grant a credit limit to the Cardholder expressed in local currency (Philippine Pesos) which represents the maximum outstanding balance that a Cardholder is allowed to charge to his/her Card for regular purchases and, if made available, Cash Advance and Special Installment Plan (S.I.P.), at any given time, subject to the security requirements and credit Card management requisites which may be reasonably imposed by BPI from time to time (the “Credit Limit”). The Company may, at its option request for the increase or decrease of the Credit Limit; provided, however, that any request for an increase must be within the available Credit Line of the Company. In case the Credit Limit shall be exceeded, BPI reserves the right, at its sole and absolute discretion, to allow or decline any further transactions or to suspend and/or terminate the privileges of the Card without prior notice. In any such event, the Company agrees to pay in full the TOB, which shall immediately become due and payable, without the necessity of notice and demand, all of which are waived by the Company. The Credit Limit shall be made available on the next business day following payment.

BPI may, at its sole option and at any time, change the Credit Limit to an amount which it deems appropriate based on its credit assessment, guidelines, policies, and procedures, as the same may be amended from time to time. The Company shall be duly notified of such changes to the Credit Limit.

7. STATEMENT OF ACCOUNT – The Company and Cardholder shall be issued a Statement of Account (SOA) every month containing a summary of all the Card’s transactions, fees, and charges. At BPI’s option, the SOA may be sent via mail or courier, posting on BPI Online Banking, email to the registered email address, or such other means of delivery which BPI considers appropriate and effective.

a. Paper Statement of Account – The SOA shall be delivered via mail or courier.

b. Electronic Statement of Account (eSOA) - In lieu of receiving a printed copy of the SOA via mail or courier, the Card account may be enrolled in BPI Online Banking and the SOAs viewed electronically through this facility (the "eSOA”). It is understood and agreed that when the eSOA is made available for viewing, it shall be deemed conclusively received upon posting.

c. Emailed Statement of Account (eStatement) – BPI may also send the SOA via email which will be sent electronically to the email address registered with BPI (the “eStatement”). If available, the Company and/or Cardholder may also choose to enroll to the eStatement. It is understood and agreed that the eStatement shall be deemed conclusively received once sent to the registered email address.

It is the Company’s and Cardholder’s responsibility to update their respective contact information when necessary; otherwise, whatever registered contact information appearing in the records of BPI will remain valid and binding on the Company and Cardholder. The Company and the Cardholder recognize and acknowledge the integrity of the SOA as an electronic document pursuant to the provisions of the Electronic Commerce Act. The Company agrees to pay the amount indicated in the SOA on or before the last day for payment indicated in the SOA (the “Payment Due Date”) without need for presentation of the signed charge slips. Notwithstanding the absence or lack of proof of service of the SOA, or failure to view the SOA after statement cut-off date, the Company agrees to pay any and all statement balances on or before the Payment Due Date. In case of non-receipt of the SOA, it is the Company’s and/or Cardholder’s responsibility to inform BPI of their non-receipt thereof and to inquire about the amount that is due arising from the use of the Card and the Payment Due Date, by sending an email to corporateCards@bpi.com.ph.

8. FEES AND CHARGES

a. MEMBERSHIP FEES – The Company shall pay to BPI a membership fee, payable annually in such amounts as may be fixed by BPI, to entitle the Cardholder to the privileges of membership and the use of the Card. Upon suspension or cancellation of the Card privileges, all fees paid become non-reimbursable.

b. FINANCE CHARGES – Finance charge on regular purchases, monthly installment amortizations, fees, interest charges, exclusive of those incurred during the current statement cycle, shall arise if Company pays any amount less than, or does not pay on Payment Due Date, the Total Amount Due. The finance charges on the unpaid balance shall be computed from the day after the Statement Date until the outstanding balance and applicable interest are fully paid.

Finance charges for cash advance transactions and cash advance fees shall arise from transaction posting date until payment date.

Finance charge is based on the aggregated total of the daily interest for the statement period. The daily interest is computed by multiplying the daily unpaid balance for each day with the daily interest rate (monthly interest multiplied by 12 months and divided by 360 days).

The applicable finance charge rates are subject to change by BPI from time to time with notice to the Company.

c. SPECIAL INSTALLMENT PLAN (SIP) – Interest charges on Special Installment Plan (S.I.P.) is computed by multiplying the total amount availed by the applicable interest rate, depending on the term, and will be part of the monthly installment amortization. Monthly payment shall first be applied to interest then to the principal using the diminishing balance method. Unpaid monthly installment amortization shall be subject to finance charge. S.I.P. Loan transaction shall be subject to applicable fees for every availment.

d. PAYMENT OF CHARGES – The Company agrees to pay the TOB or at least the Minimum Amount Due as stated in the SOA on or before the last day for payment indicated in the said SOA (the "Payment Due Date"). If the Payment Due Date falls on a Saturday, Sunday or a regular national holiday, the Payment Due Date shall be moved to the next business day. The Payment Due Date may be changed (i) to an earlier date if the Card account is considered overdue and/or with balances in excess of the Credit Limit, or (ii) to such other date as may be deemed proper by BPI with notice to the Company on the same monthly SOA. Paying less than the TOB will increase the amount of interest the Company pays and the time it takes to repay the balance. Further, failure to pay the TOB before Payment Due Date shall result in imposition of finance charges, additional interest, and penalty fees on each Card type issued to the Company based on the amount due, for every month of delay, a fraction of a month being considered as one month. Any Card with TOB or outstanding amounts due that are unpaid after sixty (60) calendar days from statement date shall automatically be suspended, and those with accounts unpaid after ninety (90) calendar days from statement date shall automatically be cancelled, without prejudice to BPI’s right to suspend or cancel the Card any time and for whatever reason. Payment through any mode authorized by BPI, including any accredited payment center of BPI, shall be considered as payment to BPI made on the same date recognized and provided by said payment channel or facility. Company has the right to demand reversal of fees or charges imposed if considered late despite payment made on Payment Due Date. Any overpayment by Company shall not earn interest and shall be applied to payment of the succeeding TOB or Minimum Amount Due. In case of terminated or cancelled Card accounts and an overpayment is unclaimed for more than one (1) month from the date of termination or cancellation, a monthly Account Maintenance Fee as stated in the Table of Rates and Fees, shall be charged on the account until the Card balance is zeroed out.

The rate of interest and/or penalty rate stipulated may be increased, decreased or otherwise changed from time to time by BPI in the event of, among others, changes (for whatever reason) in the interest rates prescribed by the Bangko Sentral ng Pilipinas (BSP) or in the international capital markets, in the rediscount rate of member banks with the BSP, in the interest rates on savings or time deposits or on bank’s borrowings, or in the market rates; or any law, circular, rule or regulation is enacted/issued, or any circumstance has occurred, which has the effect of increasing or decreasing BPI’s costs of funds, operating costs or intermediation costs, such as but not limited to reserve requirements, taxes, salaries or charges. The Company further authorizes BPI to increase or charge additional service fees as it may deem necessary or advisable under the circumstances to maintain the service to the Company and/or Cardholder. The upward or downward adjustment of the interest, penalty rate, and/or service fees shall be binding on the Company and the Cardholder on the date/s of effectivity as indicated in the notice from BPI.

OTHER CHARGES

Failure of the Company to pay the TOB or at least the Minimum Amount Due on the relevant Payment Due Date, or failure of the Company to pay any other obligations (including interests, charges, taxes, such as but not limited to Value Added Tax (VAT), and other disbursements allowed by law) which the Company may now or hereafter owe to BPI or to any member of the BPI Group of Companies, whether singly or jointly with another, as principal or guarantor or otherwise, shall render the Company in default under these Terms and Conditions, without necessity of demand from BPI, which the Company expressly waives. In case of default, the Company agrees to perforate the Card and to pay, in addition to the interest and penalty charges aforementioned, the following additional charges, without prejudice, however, to BPI’s other rights and remedies: (a) attorney’s fees of twenty five percent (25%) of the amount due if the account is referred to a lawyer or to a collection agency, (b) a service fee for every dishonored check issued in payment of the Card account, (c) liquidated damages equivalent to twenty five percent (25%) of the unpaid amount, plus litigation expenses and judicial costs, if the payment of the account is enforced through court action, and (d) costs for demanding payment or advising cancellation of membership.

e. CASH ADVANCE FEE – Each Cash Advance is subject to a cash advance fee per transaction/availment. It can be availed at any BPI branch or BPI ATMs nationwide and through the Cirrus (for MasterCard credit Cards) networks worldwide. Cash Advance shall be earmarked against the Credit Limit and is not an additional line of credit. To avail of this facility, the Company must first request for activation of the Cash Advance feature and the assignment of a Cash Advance PIN (“CAPIN”). A CAPIN may be provided to the Company and/or Cardholder which upon receipt, must immediately be changed by the Company and/or Cardholder. If the Company and/or Cardholder is not provided with a CAPIN, the Company and/or Cardholder must send an email to corporateCards@bpi.com.ph to request for the CAPIN. The Company and/or Cardholder must not disclose the CAPIN to any person or compromise its confidentiality under any circumstance.

f. ISSUER’S SERVICE FEE ON FOREIGN CURRENCY TRANSACTIONS – All charges including those incurred abroad through the use of the Card shall be billed and be payable in Philippine currency, subject to a foreign conversion fee on top of MasterCard’s foreign exchange rate on the date the transaction is posted.

g. OTHER FEES – Charge slip retrieval fee, Card replacement fees, check protect fee, Special Installment Plan (S.I.P), pre-termination fees, statement of account copy, and other fees are charged to the Card, when applicable. All fees shall be charged per Card per occurrence or request, unless otherwise stated.

h. TABLE OF RATES AND FEES - For the complete and updated list of the applicable fees, please see the Table of Rates and Fees at www.bpi.com.ph/creditCards. BPI reserves the right to change the fees from time to time.

i. MINIMUM AMOUNT DUE - The Minimum Amount Due (MAD) shall be computed for each Card type issued to the Company, based on the Total Outstanding Balance (TOB) as follows:

i. If the Total Outstanding Balance is less than or equal to P850, MAD is equal to the Total Outstanding Balance.

ii. If the Total Outstanding Balance is more than Php 850, compute for 3.57% of the difference of TOB and the sum of new retail purchase, new cash advance transactions and adjustments posted during the statement of the month.

If the computed amount:

a. Is less than Php 850, the MAD is Php 850 plus 100% of past due amount, if any.

b. Is more than Php 850, the MAD is equal to the computed amount plus 100% of past due amount, if any.

Company is required to pay at least the Minimum Amount Due on or before Payment Due Date. Failure to pay at least the Minimum Amount Due shall result in imposition of finance charges, additional interest, and penalty fees.

9. APPLICATION OF CARD PAYMENT – Any Card payment shall be applied in the following order (as applicable):

a. Monthly Installment Amortization (subject to Section 8(c), as when applicable)
b. Late Payment Charges
c. Finance Charges
d. Membership Fee
e. Cash Advance Fee
f. Service Fee
g. Cash Advance unpaid from previous month
h. Retail balance unpaid from previous month
i. Cash Advance billed for the month
j. Retail balance billed for the month, and
k. Such other amount as may be due or payable to BPI.

If Cardholder is issued two or more CardS and the payment is not sufficient to cover the Total Outstanding Balance due on all the CardS, the Company authorizes BPI, at its sole discretion and without need of prior notice, to choose which Card to apply the payment (or overpayment) received in the order mentioned above.

10. CUSTOMER SERVICE – For any inquiry and concern, Company and/or Cardholder may send a message through www.bpi.com.ph/contactus, send an email to corporateCards@bpi.com.ph or call 24-hour BPI Contact Center at (+632) 889-10000 ( all areas with “02” area code), 1-800-188-89100 (domestic toll free for PLDT) and 63+2+889-10000 (mobile phone and international calls) or BPI’s International Toll-Free Numbers. BPI will provide timely feedback after it records and investigates such issue, concern, and clarification raised. Cardholder and Company agree to fully cooperate in any investigation to be conducted in relation to the complaint by providing BPI the required information and documents. Should the Cardholder and/or the Company need further assistance, it may choose to approach any officer of the branch concerned, or send an email to corporateCards@bpi.com.ph.

The Cardholder and/or Company must notify BPI immediately for any issue, complaint or billing error, provided that, with respect to loss Card, the provisions of Section 5 (Loss of the Card) shall apply. If no SOA error is reported within thirty (30) calendar days from the statement date indicated in the SOA, the SOA shall be considered correct and binding upon the Company and the Cardholder.

In the event the Cardholder and/or the Company no longer want(s) to participate in any product, business or customer offerings of BPI and/or any of its Affiliates, or in any Marketing Initiative, as provided under this Agreement, it must inform BPI by calling 24-hour BPI Contact Center or send an email to corporateCards@bpi.com.ph clearly stating said intention. Should Cardholder and/or the Company wish(es) to renew its participation in any such product, business and customer offerings or Marketing Initiative, it may call 24-hour BPI Contact Center or send an email to corporateCards@bpi.com.ph indicating its agreement to participate in BPI's and its Affiliates' product, business and customer offerings and Marketing Initiative.

21. SEPARABILITY CLAUSE – The enforceability and validity of these Terms and Conditions, in whole or in part, shall not be affected by the unenforceability or invalidity, whether temporary or permanent, of any particular provision hereof because of restrictive laws, regulations, or judicial or administrative determinations obtained during any period hereof or for any other cause.

22. NON-WAIVER OF RIGHTS – No failure or delay on the part of BPI in exercising any right or power hereunder shall operate as a waiver thereof nor shall any partial or single exercise of any such rights or powers preclude any further exercise thereof or the exercise of any other rights or powers hereunder. No waiver by BPI of any of its rights or powers herein shall be deemed to have been made unless expressed in writing and signed by its duly authorized representative(s). All remedies afforded BPI under these Terms and Conditions, by law or otherwise shall be cumulative and not alternative.

23. ASSIGNMENT/TRANSFER OF RIGHTS – All rights and interests of BPI under these Terms and Conditions may be assigned or transferred by BPI without the consent of the Company and the Cardholder

24. CONSENT TO PROCESSING AND DISCLOSURE OF INFORMATION – Each of the Company and the Cardholder acknowledges and agrees that updated information relating to it (including personal data), its transactions, business and credit relationships, deposit account(s) or account information or records, including personal information of the Company’s directors, officers, employees, stockholders, authorized signatories, representatives, agents and such other individuals related to the Company, provided by the Company and/or the Cardholder or made available to or in the possession of BPI or any member of the BPI Group of Companies (collectively, the “Information”), may be collected, obtained, used, stored, consolidated, processed, profiled, benchmarked, disclosed, and shared to by BPI or any member of the BPI Group of Companies, or by and between BPI and another member of the BPI Group of Companies, or by and among BPI and other members of the BPI Group of Companies, for any or all of the following (the “Purposes”):

1. To approve, manage, facilitate, administer, implement, and provide the products, services, transactions, and facilities availed of and/or selected by the Company and/or Cardholder;

2. To comply (i) with BPI’s and/or the relevant member of the BPI Group of Companies’ operational, audit, administrative, credit and risk management processes, policies and procedures, (ii) these Terms and Conditions and the Other Terms and Conditions, (iii) BSP’s rules and regulations, and (iv) legal and regulatory requirements of government regulators, judicial or supervisory bodies, tax authorities or courts of competent jurisdiction, as the same may be amended or supplemented from time to time;

3. To comply with applicable laws of the Philippines and those of other jurisdictions including the United States Foreign Account Tax Compliance Act (FATCA), the laws on the prevention of money laundering and terrorism activities, and the implementation of know your customer and sanction screening checks;

4. To develop and enhance the product, business and customer offerings of BPI and/or any member of the BPI Group of Companies, which may include the conduct of product, system, statistical or business analysis, surveys, schemes, profiling, benchmarking, planning and research;

5. To pursue marketing, sales, promotional, advertising, and business initiatives (the “Marketing Initiatives”), which may include the development, formulation, dissemination, distribution and rollout of Marketing Initiatives information, materials, documents or brochures, relating to the products, services, events, promotions, programs, and offers, of BPI or of any member of the BPI Group of Companies or by third parties with which BPI or any member of the BPI Group of Companies, under a duty of confidentiality, has contracted with (the “Program Partners”), whether such Marketing Initiative is undertaken individually by BPI or by any member of the BPI Group of Companies or pursued together with any member of the BPI Group of Companies or with Program Partners under a joint venture initiative, servicing agreement, cross-selling arrangement, loyalty or promo program or any project undertaking on a collective or tie-up basis;

For purposes of these Terms and Conditions, “BPI Group of Companies” means, collectively, BPI and its Affiliates and their respective subsidiaries and affiliates, such as, but not limited to, BPI Family Savings Bank, Inc. (BFSB), BPI Direct Banko, Inc., BPI Capital Corporation, BPI Asset Management and Trust Corporation, BPI/MS Insurance Corporation, BPI Century Tokyo Lease & Finance Corporation, BPI Century Tokyo Rental Corporation, and BPI Securities Corporation. "Affiliate" means any corporation, partnership or other form of association which is directly or indirectly controlled by, or is under common control with, or controls BPI. The term “control” (including with correlative meanings, the term “controlling”, “controlled by”, and “common control”) shall mean (i) ownership of at least twenty percent (20%) of the total issued and outstanding capital stock in such corporation or association, or (ii) the right to elect at least twenty percent (20%) of the number of directors in the corporation or association, or (iii) the right to cause the direction of the management and policies of such corporation, partnership or other form of association, whether through the ownership of shares, directorship, management, community of interest or contract or otherwise.

6. In compliance with regulatory requirements, to verify or validate the Information in any reasonable manner from any and all sources including (but not limited to) the (i) Bureau of Internal Revenue (BIR) to establish the authenticity of the Company’s and/or Cardholder’s income tax return which it (may have) submitted to BPI or any member of the BPI Group of Companies, or (ii) courts, government agencies or arbitral tribunals on the status of any case or proceeding to which the Company and/or Cardholder may be a party;

7. To carry out, fulfill and complete the transactions authorized by the Company and/or Cardholder in connection with BPI’s performance of the services, facilities and channels contemplated under these Terms and Conditions.

Pursuant to the relevant Purpose(s), BPI may share and disclose Information, whether within or outside the Philippines, under a duty of confidentiality:

i. to any other member of the BPI Group of Companies;

ii. to BPI’s directors, officers, employees, professional advisers, legal counsels, auditors, agents, representatives, service providers, and third parties providing services to BPI on a “need to know” basis;

iii. to merchants and promotional, network, loyalty program and joint venture partners, and their respective service providers, in order to carry out, fulfill and/or complete the transactions authorized by the Company and/or Cardholder;

iv. to credit information companies, credit bureaus, the Credit Information Corporation (CIC) (pursuant to RA No. 9510 and its implementing rules and regulations), financial institutions, banking, and credit industry associations, credit protection provider or guarantee institutions, brokers, insurers, and underwriters, in relation to Company and/or Cardholder’s availment of the products, services and facilities of BPI (collectively, the “Credit Entities”);

v. to any judicial, governmental, regulatory or supervisory body of the Philippines or those of other jurisdictions, including exchange of information among tax authorities in compliance with FATCA, as the same may be amended or supplemented from time to time;
(vi) to any potential transferee or assignee of BPI’s rights and/or obligations under the relevant contracts or agreements or in connection with any sale, acquisition, merger or consolidation of any member of the BPI Group of Companies;

vii. to representatives, agents or service providers engaged by BPI or by any member of the BPI Group of Companies to perform (whether within or outside the Philippines ) data processing, collection, consolidation, storage and such other services in connection with the products, services, and facilities availed of by the Company and/or Cardholder (the “Outsourced Service Providers”);

viii. to representatives, agents or service providers engaged by BPI, or by any member of the BPI Group of Companies or by Program Partners, in connection with the Marketing Initiatives; and,

ix. to such other persons or entities that BPI or any member of the BPI Group of Companies or the Credit Entities, if applicable, or the Outsourced Service Providers may engage or contract with to facilitate or carry out any or all of the foregoing Purposes.

The foregoing constitutes the express consent and waiver of the Company and Cardholder under the applicable bank secrecy, confidentiality and data privacy laws of the Philippines and other jurisdictions and the Company and Cardholder agree to hold BPI, each member of the BPI Group of Companies, and their respective directors, officers, employees, authorized representatives, agents and service providers free and harmless from any and all liabilities, claims, damages, suits, costs, and expenses resulting from or in connection with the implementation of the Purposes and authorities conferred under these Terms and Conditions.

For the avoidance of doubt, to the extent that applicable confidentiality, bank secrecy or other laws impose non-disclosure requirements on certain relevant information but permits a party to waive such requirements by written consent, the express consent provided herein shall constitute the Company’s and Cardholder’s written consent and waiver for purposes of such applicable laws. Any agreement between the Company and/or Cardholder, on the one hand, and BPI or any member of the BPI Group of Companies, on the other, to maintain confidentiality of information shall continue to be observed to the extent that such agreement is not otherwise inconsistent with the consent to disclosure of Information authorized under these Terms and Conditions.

25. CURRENCY OF PAYMENT – All charges incurred through the use of the Card shall be billed and be payable in Philippine currency.

26. COMPLIANCE – The Company and Cardholder agree to fully comply and abide by (i) these Terms and Conditions, (ii) laws, statutes and regulations and BSP Circulars relevant to credit Cards and credit accommodations and (iii) the provisions of Republic Act 8484 governing the use of the credit Card and other access devices in commercial transactions.

27. AUTHENTICATION – The Card may have a contactless feature which may be used by tapping or waving the Card against an applicable contactless Point-Of-Sale (POS) terminal. Notwithstanding that some contact and contactless transactions would not require any signature, Personal Identification Number (PIN), or other authentication on the part of the Cardholder (such as for transactions not exceeding two thousand Philippine pesos (Php2,000.00) or such other transaction amount as BPI and MasterCard may set from time to time), these transactions are still considered as authorized by the Company and Cardholder.

The Company and Cardholder acknowledge that BPI may from time to time prescribe verification procedures, including, where a merchant is 3D Secure-enabled or where warranted, the use of the One-Time Password (OTP) as additional security feature to authenticate online Card transactions. For this purpose, the Cardholder may be required to provide the OTP in accordance with BPI's prescribed verification procedures before a transaction is completed. The Cardholder shall ensure that his/her mobile number are updated at all times. He/she further acknowledges that the OTP is strictly confidential and agrees not to disclose said OTP or his/her Contact Details and Other Information to any person. In no case shall BPI be liable or responsible for any loss or damage incurred by the Cardholder resulting from Cardholder’s disclosure of the OTP or any Contact Details and Other Information. The Company and Cardholder agree to hold BPI free and harmless from any liabilities, claims, costs and suits in connection with the administration and implementation of the OTP authentication process or such other BPI-prescribed verification procedures.

28. GOVERNING LAW AND VENUE OF ACTION - These Terms and Conditions shall be governed by and construed in accordance with the laws of the Republic of the Philippines. Venue of all suits directly or indirectly arising from the relationship between the parties herein shall be in the proper courts of the City of Makati or in other courts at the option of BPI.

29. DATA PRIVACY STATEMENT - In the course of providing the services contemplated under these Terms and Conditions, BPI will be collecting information (including personal information) relating to the Company and Cardholder. BPI’s Data Privacy Statement explains how BPI collects, protects, uses, shares and stores personal information and is deemed incorporated herein by reference. To learn more about BPI’s Data Privacy Statement, the Company and Cardholder may visit BPI’s website. Continued access into BPI's network of websites or use of the Card will constitute the Company’s and Cardholder's acceptance of the BPI Data Privacy Statement as the same may be revised or updated from time to time. In the event the Cardholder and/or the Company submits any information about an individual (including personal information) to BPI, the Cardholder and/or the Company, as the case may be, represents and warrants that all necessary authorization and consent as may be required in compliance with applicable confidentiality and data privacy laws have been obtained to enable BPI to use and process such information.

30. MASTERCard AUTOMATIC BILLING UPDATER (ABU)* – The Company and the Cardholder authorize BPI to automatically enroll MasterCard-branded CardS issued to it such as BPI Blue MasterCard, BPI Gold MasterCard, BPI Platinum Rewards MasterCard, BPI eCredit MasterCard, Petron-BPI MasterCard, BPI Edge MasterCard, and BPI Corporate MasterCard to MasterCard’s ABU service and to share changes to its Card information to participating MasterCard accredited merchants the Cardholder is enrolled to for Card-on-file transactions (recurring payments). MasterCard ABU is a service of MasterCard which aims to avoid transaction declines due to changes in the Card information arising from Card replacement (lost or damaged Cards) or renewal (expired Cards), by updating the enrolled merchants of changes to the Card information. The Company may opt to unenroll to MasterCard’s ABU by visiting any nearby BPI branch or by calling the 24-hour BPI Contact Center at (+632) 889-10000, or sending an email to corporateCards@bpi.com.ph.

31. OTHER TERMS AND CONDITIONS – The reminders and other provisions contained in the Card, the SOA, Installment Plan Contract (if applicable), charge slips, Suretyship Agreements, Corporate Undertaking, Cardholder Information Sheet, Card Carrier, other Card documents, related instruments or documents, such other rules and regulations promulgated by BPI from time to time relating to the use of the Card, as well as the Terms and Conditions of the Bank of the Philippine Islands governing PRODUCTS, SERVICES, FACILITIES, AND CHANNELS (collectively, the "Other Terms and Conditions"), are made integral parts of these Terms and Conditions by reference and shall likewise be resorted to in instances where they are applicable. It is agreed that these Terms and Conditions, as well as the aforementioned Other Terms and Conditions, constitute the agreement between BPI, on the one hand, and the Company and the Cardholder, on the other, and shall govern the use of the Card.

Any alteration, amendment, exception, reservation or scribbling herein or in the Other Terms and Conditions made by the Company and/or the Cardholder, not duly approved in accordance with BPI’s appropriate procedures, shall not be valid and binding upon BPI.

The Company’s signature on the Application/Enrollment form, the Cardholder’s signature on the Card and/or the Cardholder Information Sheet, or the use or continued use of the Card, constitutes the Company’s and the Cardholder's agreement to, and acceptance of, these Terms and Conditions as well as the Other Terms and Conditions.

BPI is regulated by the Bangko Sentral ng Pilipinas (BSP). https://www.bsp.gov.ph.

*Effective March 27, 2021

Updated as of November 2022