Remittance Terms and Conditions

Term and Conditions

1. All Banker's Cheque (BC) or Demand Draft (DD) ('the draft') will be valid for six (6) months from the date of issuance.
2. Encashment or payment of the draft will be credited to the relevant account. Any exception is subjected to the Bank's approval.
3. Remittance request made via cheque, will only be effected upon clearance of the cheque.
4. The Bank (including all its branches), shall not be liable for any delay, damage or losses arising from or due to any act, decree or order of any government or their agencies or directive of any applicable regulatory authorities (whether in Cambodia or elsewhere) or any other whatsoever causes which is beyond the control of the Bank, its branches, agents or its correspondents.
5. The Bank is permitted to make use of any of its branches, correspondents or agents to effect the payment of the BC, DD or the transfer of funds on behalf of its customer.
6. Telegraphic Transfer (TT) are sent by wire, cable or telex or through any other channels, coded or authenticated as required, entirely at applicant's own risk. Neither the Bank nor any of its officers, branches, correspondent banks and agents shall be liable for any consequence or loss which may arise or incurred through (i) the omission, error, misinterpretation, negligence or any other act or neglect of or on the part of the Bank (ii) damage, mutilation, loss of the remittance application of the applicant howsoever caused (iii) the delay in transmission of the TT or delay in receipt of the Funds (described hereafter) by the beneficiary howsoever caused.
7. Though the Bank shall endeavor to transmit or effect a TT application within the same working day or the next business day (the transaction day'), the Bank or its correspondent bank or agent shall not be held responsible or liable for the delay in payment if (i) the transaction is delayed due to the correspondent banks or agents of the Bank being located in time zones different from that of the Bank or (ii) the delays are caused by or due to the fact that the transaction day happens to be a non-business day in the country or state where the beneficiary or the correspondent banks or agents of the Bank is located.
8. While the Bank will endeavor to execute the payment order on the same day or next business day (depending on the time of receipt), upon receipt of the payment order from another financial institution, the Bank is given the time to seek confirmation or make enquiries from the remitting bank or any other relevant party if the payment instruction is not in order or incomplete or if there are any discrepancies.
9. If the Bank has not effected or successfully effected the remittance or payment upon the terms herein and still holds the amount of the DD or BC or TT (including those returned) (' the Funds') the Bank may at its absolute discretion refund the Funds to the applicant upon the applicant's request. The Bank shall be entitled to deduct all costs, interest, charges and any expenses incurred in relation to or arising from the Bank carrying out the refund. The refunds if made by the Bank will be subject to the Remittance Terms and Conditions of the Bank for the time being in force and which may be changed or amended from time to time. If the Funds are in Foreign Currency, the applicable exchange rate (buying rate) of the day will be used. However, this is subject to any restrictions which may be imposed by the Bank from time to time. BC or DD must be presented to the Bank for payment before expiry of the validity period.
10. If the BC or DD is lost, stolen or destroyed, the applicant may request for the issuance of a replacement. However, the applicant must provide the Bank with a Letter of Indemnity and or any other documents upon such terms to be determined at the Bank's sole discretion to indemnify or save the Bank from or as against any whatsoever loss or liability which the Bank may suffer or incur by virtue of the Bank issuing the said replacement. The applicant must bear all applicable and prevailing cost, fees, charges and levies or duties incurred in respect of issuance of the replacement.
11. The applicant shall immediately give written notification to the branch of the Bank which had received and effected the application in relation to any non-receipt of the Funds by the beneficiary. Upon receipt of such written notice duly given by the applicant, the Bank shall conduct an investigation and at its discretion the Bank may effect the necessary rectification provided that such non receipt of the Funds are due to or caused by the act or omission of the Bank and is not due to or caused by any causes which are beyond the reasonable control of the Bank or the Bank's correspondent banks or agents. All costs arising from the said rectification if effected by the Bank are to be borne by the applicant.
12. All charges incurred by the Bank at the instance of the beneficiary whether within or outside Cambodia are to be borne by the beneficiary unless instructions to the contrary have been given by the applicant.
13. The Bank is entitled to disclose information in its ordinary course of business in relation to the applicant's affair or account without the prior consent of the applicant:
    • To any bank of financial institution for investigation purposes;
    • For or in connection with any action or proceeding taken for the purpose of recovery of monies due and payable by the applicant to the Bank;
    • To any authority or body established by National Bank of Cambodia or any other authority having jurisdiction over the Bank;
    • As directed or requested by the Court(s); and
    • To any person(s) in or outside Cambodia including but not limited to companies within the group of the Bank as well as companies within the group of CIMB Group Holdings Berhad, the Bank's ultimate holding company ("Group Companies") whether such Group Companies are residing, situated, carrying on business, incorporated or constituted within or outside Cambodia any information about or with regard to me/us, my/our affairs and/or banking accounts for such purposes as the Bank deems fit or appropriate. Disclosure to Group Companies which are involved in the promotion, sale, delivery and distribution of financial products and services shall be for facilitating the operations, businesses, cross-selling and other purposes of the Bank and or the Group Companies.
14. The Bank reserves the right to disclose any of the applicant's information herein to any of its branches, head office or the government for regulatory reporting purposes as required.
15. The Bank shall be entitled to at its sole discretion without any liability and without any obligation to assign any reason thereto to at any time refuse to process, effect or complete and/or cancel and/or decline and/or suspend any application(s) for a BC, DD and/or TT if the Bank suspects that the proceeds of the payment have been illegally obtained and/or monies are remitted for illegal purpose or in the event that the Bank is not satisfied with any information and/or details provided by the applicant in support of the application.