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Date: 27 May 2011The Notification for the Revisions of HSBC General Agreement and Premier General Agreement
- HSBC will revise the certain part of HSBC General Agreement. This change will be effective from 15 June 2011. The original one is still applicable before the effective date.
- According to HSBC General Agreement and Clause, the Bank may, via a written notice, posted at visible area of the Bank’s branches or announced on the Bank’s Internet main page, amend the terms and conditions as below. If the Customer disagrees with such amendments, he/she/it may notify the bank in written form within the 14-day notification period to terminate the previous terms and conditions as well as transactions and services with the Bank. The Customer needs to be cooperative with the Bank in account closing procedure. If the Customer fails to notify of termination within the 14-day notification period and continues to conduct transactions with or using services of the Bank, the Customer shall be deemed to agree with the amendments. Due to the revised clauses numbers and contents are the same for HSBC General Agreement and Premier General Agreement, only the revised contents are shown as below comparison table.
- This amendment is announced via the disclosure of HSBC website, should you have any query, please do not hesitate to contact us via our branch networks or our 24-hour Call Center at (02)8072-3000.
| Below please find the comparison table for your notification. |
| Original Terms and Conditions | Revised Terms and Conditions |
|---|---|
| I. General Terms and Conditions (XV) Amendment: If there are any changes to the service charges of the Bank after the execution of General Agreement, the Bank may, via a written notice, posted at visible area of the Bank's branches or announced on the Bank's Internet main page at least thirty (30) days in advance, adjust the fee or charges. In addition, the Bank will inform the Customer that the Customer may terminate General Agreement before expiration of the foregoing period. If General Agreement is not terminated during the said period, the adjustment shall be deemed to have been accepted by the Customer. However, the notification period does not apply to adjustments favorable to the Customer. |
I. General Terms and Conditions (XV) Amendment: If there are any changes to the service charges of the Bank after the execution of General Agreement, the Bank may, via a written notice, posted at visible area of the Bank's branches or announced on the Bank's Internet main page at least sixty (60) days in advance, adjust the fee or charges. In addition, the Bank will inform the Customer that the Customer may terminate General Agreement before expiration of the foregoing period. If General Agreement is not terminated during the said period, the adjustment shall be deemed to have been accepted by the Customer. However, the notification period does not apply to adjustments favorable to the Customer. |
| XIV. Investing in Domestic and Foreign Securities Permitted by the Competent Authority through the Non-Discretionary Trust Service (I) General Terms: 10. Charges for Trust Services: (1) The Customer agrees to pay subscription service charges upon subscription, trust custody fees upon redemption/sales at the redemption/sales price, and switching fees upon switching the Investment Target. The amount, currency or rate shall be paid based upon the fee schedule provided by the Bank to the Customer in writing. The Customer agrees that the Bank may offset the aforementioned charges and fees from the proceeds of redemption or sale. (2) In case of any adjustment of the aforementioned fees and charges, the Bank shall notify the Customer or publicly announce in the branch offices of the Bank without obtaining the Customer's consent. |
XIV. Investing in Domestic and Foreign Securities Permitted by the Competent Authority through the Non-Discretionary Trust Service (I) General Terms: 10. Charges for Trust Services: (1) The Customer agrees to pay subscription service charges upon subscription, trust custody fees upon redemption/sales at the redemption/sales price, and switching fees upon switching the Investment Target. The amount, currency or rate shall be paid based upon the service charge rate table as agreed by the Customer and the Bank. The Customer agrees that the Bank may offset the aforementioned charges and fees from the proceeds of redemption or sale. (2) In case of any adjustment of the aforementioned fees and charges, the Bank shall notify the Customer or publicly announce at least 60 days prior to the date of adjustment, other than which are favorable to the Customer. |
| 14. Risk Disclosure: According to the regulations of competent authorities, the Bank engaging in the derivative product business has an obligation to fully inform customers of risk associated with derivative transactions. Accordingly, the Bank hereby informs the Customer of the risks associated with trading the products provided by the Bank: (1) All risks associated with the investment instructed by the Customer shall be borne by the Customer. The investment risks including the loss of principal and interest (i.e. the issuer or guarantor of the Investment Target may not or may be unable to repay the principal and/or interest on time), price fluctuation, foreign exchange risk, credit risk and political risk. In addition, if the Investment Target is denominated in a foreign currency, the Customer should understand the substantial impact of foreign exchange rate fluctuation. The past performance of the Investment Target does not represent its future performance. The price may rise or decline. The guaranty on the principal and/or interest of the Investment Target is only provided by the issuer and inherits the issuer default risk. The trust funds that the Customer delivers to the Bank to subscribe the Investment Target are funds of the Trust, not deposits, and no interest shall accrue. The trust funds shall not constitute a debt of the Bank or the Members of HSBC Group, and not be insured by the Central Deposit Insurance Corp. The Bank and the Members of HSBC Group hereby disclaim any guaranty of payment, other than what has been otherwise expressly provided herein and permitted under the laws and regulations, or investment gains or returns. All associated fees, costs, expenses and taxes shall be borne by the Customer. |
14. Risk Disclosure: Prior to any instruction of the Investment Target by the Customer, the Customer has fully reviewed all investment documents regarding the Investment Target, and understood its related risks as below: (1) All risks associated with the investment instructed by the Customer shall be borne by the Customer. The investment risks including the loss of principal and interest (i.e. the issuer or guarantor of the Investment Target may not or may be unable to repay the principal and/or interest on time), price fluctuation, foreign exchange risk, credit risk and political risk. In addition, if the Investment Target is denominated in a foreign currency, the Customer should understand the substantial impact of foreign exchange rate fluctuation. In the worst case scenario, the largest potential loss is the full investment principal amount. The past performance of the Investment Target does not represent its future performance. The price may rise or decline. The guaranty on the principal and/or interest of the Investment Target is only provided by the issuer and inherits the issuer default risk. The trust funds that the Customer delivers to the Bank to subscribe the Investment Target are funds of the Trust, not deposits, and no interest shall accrue. The trust funds shall not constitute a debt of the Bank or the Members of HSBC Group, and not be insured by the Central Deposit Insurance Corp. The Bank and the Members of HSBC Group hereby disclaim any guaranty of payment, other than what has been otherwise expressly provided herein and permitted under the laws and regulations, or investment gains or returns. All associated fees, costs, expenses and taxes shall be borne by the Customer. |
