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Standard Chartered Singapore Business Banking Lunar New Year Promotion 2019 Terms and Conditions

  1. This Standard Chartered Singapore Business Banking Lunar New Year Promotion 2019 (“Promotion”) is available from 2nd January 2019 to 4th February 2019 (both dates inclusive) (“Promotion Period”) to Business Banking Customers (“Customers”) of Standard Chartered Bank (Singapore) Limited (the “Bank”). By participating in this Promotion, you agree to be bound by these terms.

Eligibility for Skylight Abalone 3-piece Gift Set (“Gift Set”)

  1. The Gift Set comprises one can of New Zealand Superior Abalone (Restaurant Grade), one can of Golden Giant Topshell, and one can of Premium Razor Clam, collectively worth S$73.80.
  2. To qualify for a Gift Set, you must sign up and fulfil the relevant criteria for any of the following Business Banking products during the Promotion Period:
    1. Business$aver Account (“Business$aver”)
      1. You must open a Singapore Dollar (“SGD”) or United States Dollar (“USD”) Business$aver Account and place a minimum sum of S$58,800 or US$58,800 of fresh funds (as defined below) into the SGD or USD Business$aver Account respectively and the minimum sum of fresh funds must be maintained for at least 6 months from the date of placement of funds.
      2. Subject to clause 3A(iii) below, Customers who satisfy the eligibility requirements in clause 3A(i) above during the Promotion Period will be entitled to receive one Gift Set, while stocks last.
      3. For the purposes of this Promotion, the SGD Business$aver Account and USD Business$aver Account are regarded as two different products. To illustrate, if the Customer opens both an SGD and a USD SGD Business$aver Account, the Customer will be entitled to two Gift Sets in total, while stocks last. However, if the Customer opens two SGD Business$aver Accounts or two USD Business$aver Accounts, the Customer will only be entitled to one Gift Set in total. Notwithstanding the foregoing, for the purposes of Business$aver, each Customer is entitled to a maximum of two Gift Sets, regardless of the number of Business$aver accounts opened.
    2. Time Deposits
      1. You must place a minimum sum of:
        1. S$188,000 of fresh funds into a SGD Time Deposit Account or US$188,000 of fresh funds into a USD Time Deposit Account, each with a tenor of 12 months; or
        2. S$288,000 of fresh funds into a SGD Time Deposit Account or US$288,000 of fresh funds into a USD Time Deposit Account, each with a tenor of 6 months. Each of the above Time Deposit Accounts shall hereinafter be referred to as a “Time Deposit”.
      2. Subject to clause 3B(vi) below, Customers who satisfy the eligibility requirements in clause 3B(i) above during the Promotion Period will be entitled to receive one Gift Set, while stocks last.
      3. In addition to the Gift Set, Customers who satisfy the eligibility requirements in clause 3B(i) above during the Promotion Period will also be entitled to enjoy a preferential interest rate as set out in the table below (the “Preferential Interest Rate”) on the sum of fresh funds that you had placed in the Time Deposit during the Promotion Period:
        Minimum placement of fresh funds in the Time Deposit Tenor Preferential Interest Rate (p.a.)
        S$288,000 6 months 1.58%
        US$288,000 2.68%
        S$188,000 12 months 1.68%
        US$188,000 2.88%
      4. The Preferential Interest Rate is only applicable if the Time Deposit is held by you until maturity of the tenor. The Bank reserves the right to require the forfeiture of any amount or interest awarded at the Preferential Interest Rate or any part thereof, if you make any early withdrawal from the Time Deposit prior to maturity of the tenor.
      5. Any renewal upon maturity of the Time Deposit at the option of the account holder will be based on the Bank’s prevailing SGD Time Deposit board rate for the same tenor.
      6. For the purposes of this Promotion, the SGD Time Deposit and US Dollar Time Deposit are regarded as two different products. To illustrate, if the Customer places both an SGD and a US Dollar Time Deposit, the Customer will be entitled to two Gift Sets in total, while stocks last. However, if the Customer opens two SGD Time Deposits or two USD Time Deposits, the Customer will only be entitled to one Gift Set in total. Notwithstanding the foregoing, for the purposes of Time Deposits, each Customer is entitled to a maximum of two Gift Sets, regardless of the number of Time Deposits placed.
    3. Business Working Capital (“BWC”)
      1. You must apply and be eligible for a BWC facility with a minimum quantum of S$388,000 during the Promotion Period.
      2. Full documents as required by the Bank must be presented and submitted for approval to determine eligibility during the Promotion Period.
      3. Customers who have cancelled their BWC application or have a declined BWC application or were previously BWC Customers of the Bank within the past 12 months do not qualify for the Promotion.
      4. Customers who satisfy the criteria stated in this clause 3C for BWC during the Promotion Period will be entitled to receive one Gift Set, while stocks last.
    4. Business Property Loan (“BPL”)
      1. You must apply and be eligible for a BPL with a minimum quantum of S$388,000 during the Promotion Period.
      2. Full documents as required by the Bank must be presented and submitted for approval to determine eligibility during the Promotion Period.
      3. Customers who have cancelled their BPL application or have a declined BPL application within the past 12 months do not qualify for the Promotion.
      4. Customers who satisfy the criteria stated in this clause 3D for BPL during the Promotion Period will be entitled to receive one Gift Set, while stocks last.
    5. Foreign Exchange (“FX”)
      1. You must perform FX transactions worth S$388,000 (notional amount), with no limit to the number of FX transactions performed to reach the accumulated eligible notional amount.
      2. Eligible FX transactions must be performed via the Bank’s online platform Straight2Bank or through the Bank’s Treasury Services.
      3. Customers who satisfy the criteria stated in this clause 3E for FX transactions during the Promotion Period will be entitled to receive one Gift Set, while stocks last.
      4. Customers can also earn up to S$150 cashback when they register at www.sc.com/sg/bb-sgrfx, under the Business Banking Foreign Exchange Cashback Programme and the Member-get-Member Programme. Terms and conditions apply. Please refer to www.sc.com/sg/terms-and-conditions/fx-cashback/ for more information.
    6. Business Instalment Loan (“BIL”)
      1. Notwithstanding clause 1, for the purpose of BIL only, this Promotion is available from 24 January 2019 to 4 February 2019 (both dates inclusive) (“BIL Promotion Period”).
      2. You must apply and be eligible for a BIL facility with a minimum quantum of S$188,000 during the BIL Promotion Period.
      3. Full documents as required by the Bank must be presented and submitted for approval to determine eligibility during the BIL Promotion Period.
      4. Customers who have cancelled their BIL application or have a declined BIL application or were previously BIL Customers of the Bank within the past 12 months of the BIL Promotion Period do not qualify for the Promotion for the purpose of BIL.
      5. Customers who satisfy the criteria stated in this clause 3F for BIL during the BIL Promotion Period will be entitled to receive one Gift Set, while stocks last.
      6. In the event the BIL is applied for in conjunction with the SME Working Capital Loan, the minimum loan amount of S$188,000 for the BIL portion of the loan must be fulfilled.
  1. For the avoidance of doubt, each Customer is entitled to a maximum of one Gift Set per product signed up, unless otherwise stated. If a Customer successfully signs up for two or more different products, the Customer is entitled to receive one Gift Set per product signed up, while stocks last. As an illustration, if a Customer successfully signs up for BWC and BPL, the Customer is entitled to receive two Gift Sets in total.
  2. For the purposes of these terms and conditions, fresh funds refer to funds not originating from any existing account with the Bank and funds that are not withdrawn and re-deposited within the last 30 days of the opening of your account with the Bank.

    Redemption of the Gift Set

  3. Customers who qualify for the Gift Set(s) will receive a redemption SMS (“Redemption SMS”), indicating the redemption details, sent to their mobile number as per the Bank’s records. Any request for early fulfilment of a Gift Set will not be granted or entertained by the Bank.
  4. The Gift Set must be redeemed during the redemption period stated in the Redemption SMS. The Bank will not extend the redemption date should you fail to redeem the Gift Set during the redemption period for any reasons whatsoever.
  5. The Gift Sets are available on a first-come-first served basis, while stocks last. Fulfilment of the Gift Set(s) will be done no later than 28 February 2019, after the Bank determines in its discretion that the criteria under this Promotion have been met, barring any unforeseen technical delays.
  6. The Gift Set is redeemable only at Mojito Redemption (“Redemption Centre”) located at Plaza Singapura Extension, 68 Orchard Road, #04-60/61, Singapore 238839, upon presentation of the Redemption SMS. Please call 6534 8095 for more information.
  7. The operating hours of the Redemption Centre are from 11.30am to 8.30pm daily, except for the following dates:
    1. 1 February 2019: 11.30am to 5pm
    2. 4 to 8 February 2019: Closed
  8. Only an original of the Redemption SMS issued by the Bank or forwarded from the original recipient can be presented for redemption. A print-screen of the Redemption SMS or a Redemption SMS that has been altered or tampered with or is unreadable will not be accepted for redemption. A deleted Redemption SMS will not be replaced.
  9. The Redemption SMS is valid for a one-time redemption only. Any attempt to use the same Redemption SMS for more than one redemption shall not be permitted. In the event a Gift Set is redeemed more than once by you or your authorised representative using the same Redemption SMS, the Bank reserves the right to debit the full value of the Gift Set that was redeemed in excess, from your account(s) held with the Bank. The Bank’s determination in this regard shall be final and conclusive.
  10. The Gift Set must be collected personally by your authorised representative.
  11. You may forward the original Redemption SMS to authorise your authorised representative to collect the Gift Set on your behalf. The authorised representative will need to present the forwarded Redemption SMS and quote your last 4 digits of your mobile number (as per the Bank’s records) to redeem the Gift Set.

    General

  12. No payment or compensation whether in cash, credit or kind shall be made for any uncollected, lost, misplaced, defaced, deleted, stolen or damaged SMS or Gift Set(s).
  13. The Gift Sets are provided by third party merchants. The Bank is not an agent of the merchants supplying the Gift Sets. The Bank makes no warranty or representation as to the quality, value, merchantability or fitness for purpose of the Gift Sets and assumes no liability or responsibility for the acts or omissions of the merchants or any non-performance or defects in the Gift Sets. Any dispute about the quality, value, condition or performance of the Gift Sets is to be resolved directly between the Customers and the merchants. The Bank is not obliged to assist or act on your behalf in communicating with the merchants supplying the Gift Sets for any reason. You accept the Gift Set as it is and subject to any terms and conditions the merchants may impose.
  14. In the event that an eligible Customer (who has received the Gift Set) withdraws any sum from the Time Deposit prior to maturity of the tenor or does not maintain the respective minimum sum in their Business$aver account, the Bank reserves the right and discretion to debit the value of the Gift Set (as determined by the Bank) from the eligible Customer’s Time Deposit account or any other account held with the Bank.
  15. In the event that an eligible Customer (who has received the Gift Set) does not execute the FX contract after booking the FX contract, the Bank reserves the right and discretion to debit the value of the Gift Set (as determined by the Bank) from any of the eligible Customer’s accounts held with the Bank.
  16. The Promotion is not valid with other offers, privileges or promotions unless otherwise stated.
  17. Except for death or personal injury caused by the negligence of the Bank, the Bank shall not be responsible for, and you hereby agree to release and hold the Bank harmless for, any expenses, loss (whether foreseeable or not), claim or damage suffered or incurred (whether in common law or equity) arising from or in connection with, directly or indirectly, your redemption of and/or enjoyment of the Gift Set and/or the Promotion, to the fullest extent permitted by law. For the avoidance of doubt and without limitation to the foregoing, the Bank shall not be responsible or liable to any person in any manner in the event the Redemption SMS is forwarded (whether fraudulently or mistakenly) to an unauthorised recipient, and/or the Gift Set is redeemed (whether fraudulently or mistakenly) by any unauthorised recipient of the Redemption SMS.
  18. Each Gift Set (whether in full or in part) is non-redeemable for cash, credit and/or any other items. Each Gift Set is strictly non-transferable, non-assignable and non-exchangeable, whether in full or in part. The Bank may, in its sole and absolute discretion, replace or substitute any item in the Gift Set with any item of equivalent or similar value, at any time without prior notice or reason (and the Bank shall not be obliged to disclose its reasons).
  19. The Bank may vary, modify, add, or delete or otherwise revise the Gift Set to one of a similar value and any of the terms and conditions governing the Promotion or to terminate, withdraw, extend, suspend or shorten the Promotion at any time at the Bank’s sole discretion, with or without prior notice or reason.
  20. The Bank reserves the right to determine at its sole and absolute discretion all matters arising out of or about the Promotion, including your eligibility for the Gift Set(s) and/or Promotion. The Bank’s determination of all matters relating to this Promotion shall be final and conclusive and no correspondence, objection or appeal will be entertained (and the Bank shall not be obliged to disclose its reasons).
  21. The terms and conditions of the Promotion are to be read in conjunction with our existing terms and conditions governing the relevant Business Banking products and services referred to in this Promotion, the General Business Banking Terms and Conditions (including the terms relating to Lending Services, Trade Services, and Foreign Exchange Services) , together with our Time Deposit Terms and Mortgage Loan Terms and Conditions (collectively, “Standard Terms”). If there is any inconsistency between the Standard Terms and the terms and conditions of this Promotion, the latter shall prevail to the extent of such inconsistency.
  22. A person who is not a party to the Promotion Terms and Conditions has no right under the Contracts (Rights of Third Parties) Act (Cap. 53B) to enforce any of these terms and conditions.
  23. The Promotion Terms and Conditions are governed by and shall be construed in accordance with the laws of the Republic of Singapore and you agree to submit to the exclusive jurisdiction of the courts of the Republic of Singapore.
  24. All information is accurate at the time of publication.

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

FX Disclaimer

Foreign currency investments are subject to risks of exchange rate fluctuations and exchange controls may be applicable from time to time to certain currencies.

The contents on this document are for general information only and do not constitute an offer, recommendation or solicitation of an offer to enter into a transaction or adopt any hedging, trading or investment strategy, nor does it constitute any prediction of likely future movements in rates or prices or any representation that any such future movements will not exceed those shown in any illustration.

It has not been prepared for any particular person or class of persons and it has been prepared without regard to the specific investment objectives, financial situation or particular needs of any person. You should seek advice from a financial adviser on the suitability of the product for you, taking into account these factors before making a commitment to purchase the product. In the event that you choose not to seek advice from a licensed or an exempt financial adviser, you should carefully consider whether this product is suitable for you. You are fully responsible for your investment decision, including whether the product or service described here is suitable for you. The products / services involved are not principal-protected and you may lose all or part of your original investment amount. SCB will not accept any responsibility or liability of any kind, with respect to the accuracy or completeness of the information in this document.