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TERMS & CONDITIONS

Products and services may vary in conditions and benefits for each customer and they may not be immediately available to the customer without the written consent and prior approval of Caribbean Mercantile Bank N.V. and its subsidiaries.

All information conveyed through this particular media or any other media, whether this may be verbal, written, magnetic or electronic, by Caribbean Mercantile Bank N.V. and its subsidiaries shall be regarded as confidential information in accordance with the provisions of the Civil Law and ethical standards of Aruba.

 

When applying for Caribbean Mercantile Bank N.V. and its subsidiaries’ products and services it is a prerequisite to include with every application a valid identification document (passport, driver’s license or identification card) of the applicant or ultimate beneficiary of the account, a letter from the employer containing information such as years of service to the employing company, present gross income and behavioral attributes of the applicant. If the application refers to a legal entity, include in addition to the aforementioned a current registration of this entity with the Aruba Chamber of Commerce and its articles of incorporation or association.

 

In the event that Caribbean Mercantile Bank N.V. and its subsidiaries may require this, the applicant may be requested to provide bank reference letters.

 In addition to complying with the above the applicant agrees to the following terms and conditions by completing the information required and forwarding the necessary documentation via electronic, magnetic, written or verbal media or otherwise as described and indicated above.

 

A. Investigations might be initiated by Caribbean Mercantile Bank N.V. and its subsidiaries as to the legitimacy of the documents received. Caribbean Mercantile Bank N.V. and its subsidiaries reserve the right to conclude, according to its own standards, that the documents received have not been tampered with and are legitimate and purposeful.

 

B. Caribbean Mercantile Bank N.V. and its subsidiaries might investigate as to the financial worthiness of the applicant by inquiring other banks and financial institutions as to the status of this worthiness.

 

C. Investigations might be initiated by Caribbean Mercantile Bank N.V. and its subsidiaries with regard to any amendments, renovations or extensions requested by means of this application.

 

D. Furthermore, the undersigned agrees that Caribbean Mercantile Bank N.V. and its subsidiaries reserve the right to not open, operate, administer or manage any account to the applicant’s name.

 

E. Evaluation of applications will be done on an individual basis and applicants will be judged by their own merits.

 

All relations between Caribbean Mercantile Bank N.V. or its subsidiaries and customers are subject to the General Conditions of the Bank. Any legal disputes forthcoming by means of the terms and conditions mentioned above or otherwise shall be settled in accordance with the provisions of the Civil Law and ethical standards of Aruba.

 

In the event of a contest regarding the above text and the information contained within its articles, the parties involved shall always be referred to the original text in the Dutch language.