1. Definitions

Words and expressions used in this agreement shall have the meanings specified in the appended schedule. The plural shall include the singular, the masculine shall include the feminine, and vice-versa.


2. Agreement

The Customer agrees that the Terms and Conditions set-out hereunder shall apply to the use of the MCB Internet Banking (MCB Internet Banking) services as provided by the Bank to the Customer. The Customer further agrees to accept and abide by such terms, conditions and instructions from time to time in force.


3. Personal identification number and operation of the MCB Internet Banking system

3.1. The Customer acknowledges that : 

3.1.1. The computer generated Personal Identification Number (PIN) issued by the MCB and allocated to the Customer/authorised user , so as to give him access to the different services of the Bank and to his/the Customer's account/s as mentioned on the Customer's application form, shall be kept secret and shall not be imparted or communicated to any person whomsoever. The same secrecy obligation shall apply in respect of the PIN keyed-in by the Customer/authorised user at his first or any subsequent log-in session. He shall notify the Bank immediately on becoming aware that his PIN may have fallen into the hands of any person, including a member of his family. 

3.1.2. The Customer/authorised user shall nevertheless be liable to the MCB for any transaction effected through the use of his/any authorised user's PIN by any person who acquired possession of it, with or without the Customer's/authorised user's consent, before a written notification is received by the MCB; as if the Customer/authorised user had used it personally. 

3.1.3. In case of dispute as to the effective time and date of notification that the PIN and/or any equipment may have fallen into the hands of an unauthorised person, the time and date of receipt of the written notification by the MCB shall be conclusive. 

3.1.4. The Customer shall effect and maintain adequate measures to safeguard and not part with possession of any of the equipments, and notify the Bank immediately on becoming aware of any unauthorised use or possession thereof, or of any claims by a third party in relation to the Customer's use or possession thereof. 

3.1.5. The Bank may accept as valid and duly authorised by the Customer, any instruction and/or message received by the Bank through The MCB Internet Banking System purporting to come from the Customer and authenticated in such manner as provided by The MCB Internet Banking System and this agreement shall be the authority for the Bank to act on any instruction and/or message so received. 

3.2. Any data received by the Bank which has been authenticated by means of any MCB Internet Banking verification device, shall be relied on by the Bank as being authenticated by the holder of such device registered with the Bank from time to time. 

3.3. If data is reported on accounts held with financial institutions other than the Bank, the Customer shall be responsible for the preparation and transmission of such input data by any such financial institutions, and it shall be the Customer's responsibility to ensure that such data is transmitted as soon as it has become available to enable the MCB Internet Banking system to operate efficiently. The Bank will give any reasonable assistance to expedite arrangements for the availability of such input data. 

3.4. The Customer shall ensure that all data transmitted to or from the Bank through the MCB Internet Banking system is correct and shall advise the Bank immediately of any errors or discrepancies. 

3.5. The Bank shall not be liable for any breakdown or failure of any equipment or medium of access to the bank's systems 

3.6. The Bank shall be under no obligation to match the destination account number with the beneficiary's name involved in any payment/transfer instructions and in case of discrepancy, the destination account number shall prevail. 

3.7. The Bank shall not be obliged to effect any payment in accordance with any instruction received by the Bank through its Internet Banking Services, unless: 

3.7.1. Sufficient cleared funds are available on the account from which the funds are requested to be paid, or: 

3.7.2. Prior arrangements have been made with the Bank to overdraw the account and the limit allocated to the said account is not exceeded 

3.8. The Customer's instruction is irrevocable and unconditional. 

3.9. The Customer agrees that it is not, at all times, possible for the Bank to ensure that the payment to, or receipt of funds from, a third party financial institution can be made at any particular time or within any particular time limit. 

3.10. If the Bank acts on any instruction received on its Internet Web site and thereby provides a banking service to the Customer which would normally require the completion by the Customer of an application form or other such authority, the Customer shall, by giving such instructions be deemed to have completed such application form or authority and shall be bound by the terms and conditions thereof.


4. Conditions of use of the MCB Internet Banking services and security precaution

To access the Bank's Internet Services, the Customer understands and agrees that he shall: 

4.1. Obtain by his own means, and maintain the appropriate hardware and software. 

4.2. Ensure that his equipment is "Year 2000 compliant." 

4.3. Take cognizance of the security information provided on the Bank's Internet site and in this document and undertakes to scrupulously adhere to the recommended security procedures. 

4.3.1. Any failure on the part of the Customer to follow the security procedures referred to in paragraph 4.3 above may result in a breach of his MCB Internet Banking Profile's confidentiality, which in turn, may lead to unauthorised transactions on his account.


5. The customer is aware that :

5.1. The Bank may modify the MCB Internet Banking services from time to time and may, upon reasonable notice to the Customer, modify or substitute any of the equipment. 

5.2. The Bank shall not be liable for any costs or expenses incurred by the Customer in the event of modification being made by the Bank. 

5.3. The equipment shall at all times remain the property of the Bank and the Customer shall not in any circumstances obtain any rights over, or in, the same. 

5.4. The use of and/or downloading of any file/software from the Internet, be it from the MCB Internet Banking Site or not, shall be at his own risk and shall be subject to the terms and conditions imposed by the licensor of the software which in all cases, shall be considered as third party's software. 

5.5. The Bank shall not be liable for any loss or damage that he may suffer as a result of the possession, the use or abuse of such a software. Furthermore, the Bank shall not accept any responsibility in connection with the suitability, the performance or the security aspect of such software.


6. Copyright & related rights

6.1. Notwithstanding the provisions of clause 5.4 , the use of a third party software shall be governed by the provisions contained in the Copyright Act No. 12 of 1997 and by any amendment brought or to be brought thereto. 

6.2. In some jurisdiction outside Mauritius, the use of a third party software may be illegal. The responsibility to ascertain the legality of the use of a third party software outside the territorial limits of the Republic of Mauritius shall rest with the Customer. 

6.3. The Customer shall not have the possibility to amend or countermand any instruction which shall have been received and implemented by the MCB.


7. Charges for the MCB Internet Banking services

7.1. The Customer shall pay to the Bank the charges as are agreed between the Bank and the Customer at the commencement of this agreement, as varied from time to time in accordance with clause 7.5 hereunder. Such charges shall also be varied if the Customer agrees to utilise additional services subsequent to the date of this agreement. Any additional charge in respect of such additional service shall commence on the date agreed in writing by the Customer and the Bank at such time. 

7.2. Payment of charges, shall be effected on a monthly basis. 

7.3. The Customer authorises the Bank to debit the account indicated in the application form with the amount of any transaction effected through the MCB Internet Banking system plus any charges and fees relating thereto except for unauthorised transactions which would have been effected after the receipt by the MCB of a written notification from the Customer in terms of clause 3.1.2 and 3.1.3. The Customer shall not during the currency of this agreement revoke this authority. 

7.4. If charges are not paid in accordance with this agreement, the Bank shall be entitled to charge interest (as well after, as before, any demand or judgment) at the rate of 3% per annum above the prime lending rate of the Bank from time to time on the amount due. 

7.5. Charges may include any taxes or duties payable in respect of the supply of any banking services provided by the Bank upon requests received by the Bank through the MCB Internet Banking system or in respect of the supply and use of the MCB Internet Banking system. All such taxes and duties shall be payable, if ever, by the Customer at the rate and in the manner prescribed by law. 

7.6. Without prejudice to clause 7. and following, the Bank may at any time by giving at least 28 days written/electronic notice vary the charges due under this agreement. Any such variation shall come into effect on the date specified in the notice unless the Customer shall at least 13 days before such date have given written/electronic notice terminating this agreement on such date. 

7.7. For the avoidance of doubt, charges do not include the Bank's charges for any banking or other services which may be provided by the Bank upon requests through MCB Internet Banking system.


8. Special provisions relating to the use of the MCB Internet Banking services

The MCB's records or their reproduction on a computer base shall be conclusive and irrebutable evidence of the transactions effected and/or instructions given by the Customer on the MCB Internet Banking Site with the Customer's/the authorised user's PIN.


9. Liability

9.1. The MCB shall not be obliged to enquire into the authority of the person using the Customer's PIN to access the different customer's accounts or to apply for a service or to give instructions / authority in the name of the Customer. 

9.2. The Customer hereby authorises the MCB to debit his account with the amount of any transaction effected through the MBC Internet Banking plus any fee relating thereto, except for unauthorised transactions which would have been effected after the receipt by the MCB of a written notification from the Customer in terms of clause 3.1.2. and 3.1.3 above. 

9.3. The Customer hereby indemnifies the MCB against any claim, or action whatsoever against it in connection with the use of the MCB's Internet Banking system and its different banking systems by the Customer unless the claim has arisen as a result of the fraud, wilful default or gross negligence of the MCB or any of its employees. 

9.4. Any claim or action whatsoever against the MCB in terms of clause 9.3 above shall be limited to six times the average of the fees charged to the Customer during the last twelve months or such lesser period as this agreement has been in effect; and in the case of charges paid monthly by the Customer to the Bank under this agreement as specified in clause 7.1 above, the liability shall be limited to six times the average of the monthly charges during the 12 month period prior to the liability arising, or such lesser period as this agreement has been in effect. 

9.5. The Customer further agrees that the Bank shall not be liable for any loss, damage, interruption, delay or non-performance arising out of : 

9.5.1. Failure by the Customer to adhere to the terms and conditions of the present agreement / or the Customer being in contravention with any law or regulation for the time being in force / or the Customer having furnished incorrect information on the application form. 

9.5.2. Possession, use, misuse, by the Customer, of any third party software. 

9.5.3. Failure by the MCB to execute any instruction from the Customer as a result of causes beyond the MCB's control, including (but without limitation) fire, storm, flood, explosion, vandalism, sabotage, strikes or other labour disputes (whether involving the MCB's employees or not), acts of God, war, riot or other civil disturbance, intervention of any government or other authority, or failure of or fluctuation in any power supply. 

9.5.4. Unavailability of the MCB's system due to the reasons mentioned in 9.5.3 or for any other reason. 

9.5.5. Any consequential or indirect losses including (without limitation) loss of profits or contracts or financial losses howsoever caused or arising. 

9.5.6. Failure or malfunction of any equipment, hardware or software used by the Customer to access the MCB Internet Banking System. 

9.5.7. Unauthorised access to the Customer's account or any breach of security procedures laid down therein. 

9.5.8. Use, misuse, or abuse of the Customer's Internet Access.


10. Termination of this agreement

10.1. Either party shall be entitled to terminate this agreement by giving 30 days' prior notice to the other provided that the MCB may terminate it immediately upon any breach of this agreement by the Customer or when the Customer's accounts are not maintained in a satisfactory manner. This agreement shall automatically terminate upon (where applicable) the bankruptcy, liquidation or dissolution of the Customer or upon the appointment of a Receiver Manager or where any of the Customer's accounts is blocked or closed by the bank. 

10.2. Termination of this agreement (howsoever occasioned) shall not affect any accrued rights or liabilities of either party nor shall it affect any provision which is intended to apply after such termination. 

10.3. Forthwith upon termination of this agreement (howsoever occasioned) the Customer shall make arrangements satisfactory to the Bank for return to the Bank of any Equipment. 

10.4. In the event of the Customer failing to make arrangements as specified in clause 10.3, after 7 days from the date of termination of this agreement, the Customer hereby authorises the Bank or its agents to enter any of the Customer's premises for the purpose of removing any equipment.


11. Assignment

The Customer shall not assign this agreement nor any of its rights or obligations thereunder.


12. Notices

Any notice to be given by either party under this agreement, shall be in writing and sent by telex, fax, e-mail, registered mail or otherwise handed over to the other party. However, any notification made by telex, fax, e-mail shall on pain of nullity, be confirmed in writing, signed and delivered to the other party, at the address stated in this agreement. Either party may change its postal address by giving 7 days notice in writing to the other party.


13. Availability

13.1. Internet Banking services shall be available on the days and between the hours advised by the Bank to the Customer from time to time. 

13.2. The operation hours may be varied or suspended by the Bank without notice although in all such cases the Bank will endeavour to advise the Customer as soon as reasonably practical by whatever means the Bank deems appropriate. 

13.3. The date and time referred to in this agreement/or on the MCB's Internet Site/or on any other document relating to the MCB Internet Banking Services shall be the date and time prevailing in the Republic of Mauritius at the time of the transaction.


14. Jurisdiction

14.1. This agreement shall be governed by and construed in accordance with the laws of the Republic of Mauritius and any dispute arising in connection with the interpretation and/or fulfilment of this agreement shall be within the exclusive jurisdiction of the competent court within the Republic of Mauritius. 

14.2. Terms and Conditions shall be those existing at the time of the transaction taking place. Customers should be aware of their local laws if dealing from outside Mauritius and should do so on their own initiative and be responsible for compliance with their local laws, national and international laws. Customers may not use or export any of the information on MCB's Web Site in contravention with any of the aforesaid local laws of theirs. 

14.3. By signing this agreement the Customer warrants that all information given to the MCB on the application form is accurate and correct.


15. Modifications to conditions of the present agreement

15.1. By allowing the authorised user to enter/ his User ID and PIN, to gain access to the MCB Internet Banking system, the Customer binds himself to the terms and conditions in force at that time. 

15.2. The Customer acknowledges and accepts that the MCB may at any time amend the terms and conditions of the present agreement. 

15.3. The MCB shall notify such amendments to the Customer in writing or through electronic notice.


16. General

16.1. If there are two or more persons comprised in the expression "the Customer" then the undertakings and liabilities of the Customer under this agreement shall be joint and in solido undertakings and liabilities of each of them and shall be construed accordingly and reference herein to "the Customer" shall mean any one or more of them. 

16.2. If the Customer is a corporate body, then this agreement shall continue in full force and effect and continue to bind each of its assigns and successors. 

16.3. The headings in this agreement are for convenience and shall not affect their construction or interpretation.


17. Definitions

System Administrator 
The person empowered by a customer to be the sole authority to: 
(i) deal with the bank in matters relative to MCB IB, 
(ii) create in-house functional access to MCB IB's modules, 
(iii) obtain access to MCB IB's "audit trail" module, 
(iv) add and/or delete name/s of authorised user/s 
(v) add and/or delete account/s, 
(vi) request new password for non-signatory user. 

Authorised User 
A person appointed in writing by the Customer, or the Customer himself, to use the MCB Internet Banking System. 

A client, corporate or individual, having contracted with the MCB to use the MCB Internet Banking system. 

Unauthorised person 
Any person other than the Customer himself or other than the user duly authorised by the Corporate Customer to be directly involved in the use of the MCB Internet Banking Services 

A user empowered by a customer to authorise and sign, within the limit of his delegated powers, instructions and requests transmitted through MCB IB. 

Any documentation supplied under this agreement including the User Guide, the User Regulations and any other authentication codes, ActivCards and any other equipment provided by the Bank from time to time 

Hardware, Medium of Access 
The Customer's PC, modem, printer or any other equipment necessary to gain access to the Internet. 

MCB Internet Banking Services 
The Internet Banking services provided by the MCB as detailed in the application form and as per the User Guide. 

MCB Internet Banking System 
A System developed by the MCB to provide the Customer access to the Bank Internet Banking services through the Internet. 

User Guide 
The instructions as supplied by the MCB on its Web Site, from time to time. 

User ID 
A numeric code allocated by the MCB to the MCB Internet Banking User with a view to identifying the Customer/ authorised user. The User ID is linked to the PIN. 

A Personal Identification Number allocated, at the start, by the MCB to the Customer/authorised user giving him access to the MCB Internet Banking Services and which the Customer/ authorised user should change thereafter.