1. The Standard Chartered Bank (“Bank”) On-the-Spot Rewards promo (“Promo”) will run from March 22 - June 15, 2010 (“Promo Period”).
2. The Promo is open to all existing active and current Principal Standard Chartered Bank card holders (“Cardholders”) eligible for Rewards redemption under applicable terms and conditions (“Redemption”). Existing Bank Rewards redemption rules and criteria apply to the Promo.
3. The Promo allows Cardholders to redeem all merchandise in any SM Department Store, Ace Hardware,Toy Kingdom and Baby Company (“Items”) as Rewards items. Items found at different stores may vary.
4. Cardholders� existing Rewards Points ((“Rewaards Points”) for Classic, Gold, Platinum and Nokia- Standard Chartered Bank Credit Card) are in the form of Bonus Points or Cash Rewards (for Platinum Cash Rewards), depending on Cardholder�s card type. Bonus Points are convertible to cash equivalents at the conversion rate of 20 Points = P1. Cash Rewards are convertible to cash equivalents at the conversion rate of 1 Cash Reward = P1. As an example, for a P500 Redemption, the Cardholder needs 10,000 Bonus Points or 500 Cash Rewards.
5. To compute for the number of Bonus Points required for a Redemption, the Cardholder must multiply the Item�s selling price by 20. Any fraction of a Bonus Point is considered 1 Bonus Point and is rounded up to the next number. For example, an Item that costs P599.99 will require 12,000 Rewards Points, as upon conversion, the required 11,999.80 Rewards Points is rounded up to 12,000 Rewards Points.
6. To compute for the required number of Cash Rewards for a Redemption, the Cardholder must round up any centavo to the nearest peso. For example, an item that costs P599.99 will require 600 Cash Rewards, as upon conversion, the required 599,99 Cash Rewards is rounded up to 600 Cash Rewards.
7. The minimum cash equivalent per Redemption is P500, converted to 10,000 Bonus Points or 500 Cash Rewards. A Cardholder may choose multiple items for a Redemption provided the total amount due is not less than the minimum cash equivalent per Redemption of P500.
8. The Cardholder can check his/her Rewards Points summary in their latest statement of account (“SOA”). Alternatively, Cardholders can call the Bank�s Contact Centre at 830-1111. Only Rewards Points reflected in the Cardholder�s latest SOA, net of any Redemption from the cutoff date reflected in the SOA, are eligible for Redemption.
9. To make a Redemption, Cardholder must proceed to the designated installment counter at the SM Department Store, Ace Hardware, Toy Kingdom or Baby Company and mention that payment will be made under Standard Chartered Bank�s On-the-Spot Rewards promo.
10. The Cardholder can make a Redemption using only Reward Points or redeem under a (“Points + Charge”) arrangement whereby the Cardholder pays for the Item partly through a Redemption and partly with a transaction charge. The �Charge� amount can either be a straight charge or 3-month 0% interest rate installment transaction on their Standard Chartered Credit Card, subject to the Bank�s existing straight charge and installment terms and conditions. Credit card accounts under Bonus Points will earn Bonus Points for Points + Charge transactions upon monthly amortization billing. Every P10 charge will earn 1 Bonus Point. Credit card accounts under Cash Rewards will not earn Cash Rewards for Points + Charge transactions.
11. For (“Points + Charge”) Redemptions, the minimum required Rewards Points is 10,000 Rewards Points or 500 Cash Rewards and the minimum amount for a (“Charge”) in installments is P3,000.
12. All (“Points + Charge”) Redemptions are subject to sufficiency of Rewards Points and available credit limit, provided that where a (“Charge”) is nevertheless made resulting in the Cardholder�s account exceeding its credit limit, an Over Credit Limit fee shall be applied to the Cardholder�s account. If the Cardholder�s Rewards Points and/or credit limit are insufficient, the Redemption will be cancelled.
13. Redemption disputes are subject to the confirmation of SM Department Store, Ace Hardware, Toy Kingdom or Baby Company; upon such confirmation that dispute should be resolved in favor of the Cardholder, any Rewards Points previously debited shall be reversed and re-credited into the Cardholder�s account within 45 days from resolution.
14. Should the Bank discover that improper debits have been made, it can�without need of Cardholder notice or consent�take appropriate steps to correct the same. In case the Rewards Points debited were less than that required, the Bank has the right to make a one-time charge in the amount of the balance to the Cardholder�s account. In case the Rewards Points debited were more than required, the Bank will reverse and credit the excess Rewards Points to the Cardholder�s account within 45 days from discovery.
15. Rewards Points shall be cumulated at a customer level from the all the credit card accounts and Supplementary accounts of the Cardholder. However, debiting of Rewards Points shall be done at a credit card level.
16. All Redemptions are final and cannot be reversed. Exchange and returns on completed Redemptions shall be subject to SM Department Store, Ace Hardware, Toy Kingdom or Baby Company�s existing policies. The Cardholder must proceed to the exchange and returns counter of the relevant SM Department Store for said requests.
17. The decisions of the Bank on all matters relating to this Promo shall be final and binding on all Cardholders with the concurrence of DTI.