Terms & Conditions for Express Approval Guarantee:

  1. This Express Approval Guarantee is available only to applicants of the Business Instalment Loan (each, a “customer”, and together, the “customers”) from Standard Chartered Bank (Hong Kong) Limited (the “Bank”), and covers only applications received by the Bank for the Business Instalment Loan (“Application”).
  2. All Applications shall be submitted to officers or agents designated by the Bank, together with all documents required by the Bank (collectively referred to as the “full set of documents”). The Bank shall in its sole discretion determine whether the full set of documents has been presented to the Bank together with the Application, and such determination shall be final and conclusive.
  3. If the Bank has determined that the Application submitted by a customer is accompanied by the full set of documents and fulfils such additional terms and conditions as may be determined by the Bank in its sole discretion, the Bank shall issue an Express Approval Guarantee notification advising the customer the credit assessment process has started.
  4. The validity period of the Express Approval Guarantee starts at the time when the notification is sent and ends when the Preliminary Credit Assessment result is delivered to the customer. Only working days (Monday- Friday, except Saturday and public holidays) are considered. If the time period falls within a public holiday, the next working day will be considered.
  5. The Bank will contact respective customers during the credit assessment process for call verification and site verification. If the customer is unable to be reached during the Express Approval Guarantee period, resulting to a delay of credit decision, the Express Approval Guarantee shall not apply.
  6. In the event a customer has successfully drawdown a Business Instalment Loan pursuant to an application, and that in respect of such application, the Bank has failed to issue Preliminary Credit Assessment result to the customer by the end of 48 hours from the start time indicated in the Express Approval Guarantee, the Bank shall pay to the customer an Express Approval Guarantee Fee (which may be a cash rebate or other item with cash value), the amount of which may be amended by the Bank from time to time. For the exact amount of such Express Approval Guarantee Fee, please contact an SME Relationship Manager.
  7. For customers who successfully draw down the Business Instalment Loan, any entitled rebate will be credited to the designated HKD account no later than the 4th month after successful loan drawdown. To entitle to the cash rebate, the customer must maintain a valid HKD Current or Savings Account with the Bank at the time of fulfilment. Otherwise, the rebate will be forfeited absolutely and shall not be paid to the customer through any other means.
  8. The Bank shall issue the Express Approval Guarantee and Preliminary Credit Assessment result by any means determined by the Bank from time to time. Such Express Approval Guarantee/ Preliminary Credit Assessment result shall be deemed to be received at the time when the communication is transmitted from the Bank’s system, and the Bank’s record of such transmission shall be conclusive evidence of the same. If information of such designated communication means determined by the Bank is missing or invalid such that the Bank is unable to notify the customer within the time period, the Express Approval Guarantee shall not apply.
  9. The Bank’s decision on the customer’s Application is indicative and shall not be constructed as a binding contract or agreement or obligation on the part of the Bank, and any agreement to offer a Business Instalment Loan shall be subject to the full terms and conditions for the Business Instalment Loan as may be set out by the Bank in its agreement with the customer.
  10. Notwithstanding any provision stated herein, the Bank accepts no responsibility and will not be liable for any loss or damage due to any service failures or disruptions (including but not limited to, loss of data attributable to a system or equipment failure, or due to reliance by the Bank on any third party products or interdependencies including, but not limited to electricity or telecommunications.)
  11. This Express Approval Guarantee shall not apply in the event of any interruption to the Bank’s business due to an Act of God, riots, civil commotions, insurrections, wars or any other causes beyond its control, or by strikes or lockouts, or due to system failures or disruptions (including but not limited to, loss of data) not due in any way to the fault of the Bank.
  12. The Bank reserves the right in its absolute discretion at any time and from time to time to vary, delete, add or substitute these terms and conditions at any time or withdraw this Express Approval Guarantee altogether.
  13. If there is any discrepancy between the English and Chinese versions of the terms and conditions, the English version shall prevail.