Terms and Conditions

Terms and Conditions

Terms and Conditions


1. Account/accounts are opened on the books of COPERATIVE and AGRICULTURAL CREDIT BANK here after called the Bank, for customer’s transactions.

The bank is furnished with specimen of the client’s signature(s) on the appropriate card, which will be used for collating the client's signature(s) in all banking transactions related to the accounts.

2. It is hereby agreed that all accounts of the client shall guarantee one another, accordingly the Bank shall have the right without notice to transfer any credits from any one of his accounts to cover any outstanding debit in any of such accounts.

3. The bank shall have the right without reference to the client to debit his account with all expenses, fees, commissions, taxes and stamps paid or Incurred by the bank on behalf of the customer or arising from any transaction between the bank and the customer.

The bank shall have the right to cover any outstanding in any of al client accounts in the limits that the bank has and represent the client in this case.

4. In the event the bank shall permit the client to overdraw in current to the extent and for such period as the Bank may in its absolute discretion determine the client further, agree that banking service charges on such overdrafts are to be calculated as determined by the bank.

5. The Client and agree on all producers and restrictions that the bank taken to apply the laws that is related to banking transactions.

6. The bank shall have the right in a certain circumstance to close the clients cash withdrawals in foreign currencies to equalize with Yemeni Riyals if necessary.

7. The holder declares the records and accounts of the bank to be correct and final and conclusive evidence binding on him unless proven otherwise.

8. The bank shall act on behalf of the client in collecting exchange bills, cheques and commercial paper> Presentation of these papers shall be left to the absolute discretion oi the bank without any responsibility for circumstances, which may cause a delay in presentation.

9. It to stipulated that any negotiable instruments or property or whatever nature belonging to the client which may be held by the bank, In whatever manner or capacity. shall be regarded as being so held to guarantee the payment of any debit balance due to the bank, such bill or property may be freely liquidated, or its absolute discretion, shall deem that the bank in its absolute discretion, shall deem convenient in settlement of such debit balance.

10. Signature by the authorized signatories for such account shall remain binding to the holder unless canceled by him.

11. Withdrawal by the client from his current account shall be made by means of such cheques as may be provided to him by the bank. The client therefore undertakes to safeguard such cheques and to Immediately notify the bank in case of loss. Moreover, if the account is closed the client shall without delay return the unused cheques. He shall further bear all responsibilities ae may arise due to misuse or failure to notify the bank of the toes of ouch cheques.

12. Presentation of any of the financial or commercial papers by the client to the bank shall in no way constitute an evidence that the amount thereof has been credited to the account of the client, unless such financial and commercial papers have actually collected and passed to the credit of the clients account.

13. The bank has the right to alter or amend at any time the general condition governing all opening of accounts as stated in this present contract, after prior notice in writing has been made to the client. It is further stipulated that if the client did not object within 10 days the bank shall consider the alteration in the general conditions governing all opening of accounts as approved by the client and binding upon him.

14. The holder should notify the bank of any change in his address, otherwise his last address given to the bank will be considered as his mailing and accredited address.

15. Both parties shall have the right to dose the said account and to request immediate settlement thereof.

16. The term COOPERATIVE AGRICULTURAL CREDIT BANK as used herein shall include any authorized agent of the bank acting for It. I/We, the undersigned, understand and agree to all the above mention condition of the contract. and certify the correctness of the information furnished here above.

17. The term and conditions of this agreement shall be governed by the laws and regulations of Republic of Yemen.


The terms and conditions. herein, shall intend to govern the relation between CAC Bank and any of its clients requesting to subscribe to any of its E-Services. E-Subservices and/or any other services added in the future. These conditions and provisions shall constitute an integral part of the E-services subscription application form penned down by the costumer at any of the Bank's branches. By signing these terms and conditions, herein, the client approves and agrees to them and acknowledges his/her full comprehension of them and gives his/her consent. The client fully agrees not to oppose to the Bank's entitlement to do any amendment or change to all or part of the terms and conditions at any time without the need for informing the client before hand or give any justifications in that effect. The customer acknowledges his/her accord to abide by any amendments done to these terms and conditions, herein.

Wherever mentioned, any term referring to masculine shall apply to both masculine and feminine linguistic expressions. The same holds true with regards to any singular expression, which shall refer to a dual or a plural expression as long as Arabic Language is concerned. The following words and expressions shall have the following meanings unless the context indicates otherwise.


Client: Any account and/or accounts' holder who has been approved to subscribe to any of the bank's E-Services and is fully responsible for the use and exploitation of such services or subservices;

Working Day(s): The official and approved working hours, or the working hours ascribed try the Central Bank of Yemen (CBY) with the exception of official holidays and public occasions.

Electronic Venues: The channels, venues or means through which all E-services are offered to CAC bank's clients, whether via SMS text messages, fax, emails or the internet and other means.

Electronic Services: The electronic services offered by the bank including the services delivered via any channels, venues or means such as SMS text messages services via CAC Mobily as well as any other E-service(s) the Bank decides to add in the future.

Client's Account: An account and/or accounts held by the client in the Bank and exploited by the client for the purpose of using the Bank's E-services. Password: A secret word, expression, number, or phrase allowing its holder to have access to CAC bank’s E-Services. Though the Bank issues such securing code, it has no knowledge of Its characters. The client has the right to change it whenever he/she desires.

Interest, Commissions and Expenses: Various interest rates, commissions, expenses and stamp fees as well as expenses and charges related to postage, telephone, telegraph, facsimile, telex, transportation, and traveling purposes. In addition to expenses for differences in currency exchange rates and other kinds of commissions, there are charges related to collections, attorney wages, and any other expenses incurred by the bank due to the client's subscription and use of the bank’s E-Services.


1. The explanations mentioned above cannot be separated from these terms and conditions stipulated herewith. and have to be read as one entity.

2. The customer shall agree on any restrictions Imposed by the bank for any amount of money can be resulted from the use of the electronic channel, or can be result from getting benefit from such service. and the bank shall have the right to deduct from the customer’s account all the interests, commission and expenditures the bank has to pay due to the transactions between the bank and the customer without referring to the customer her having authorization from him, and also the bank shall have the right to deduct from the customer’s account any amount of money the bank would pay for court tees, and lawyer and consultation expenses how much ever they are.

3. The use of the electronic services is only restricted for the subscribing customer, and he is the only one carries its responsibilities and risks would happen due to the use of the electronic channels.

4. The customer shall be fully obliged to undertake precisely the instructions of the use of the electronic channel whatever the way the bank shall provide when he wants to use and get benefit from the services offered through it.

5. It Is taken into account and understood perfectly that the user’s name and the password are the only things identifying the bank customer, hence any transactions or dealings, done via the identification symbol and the password are implicitly performed by the customer himself and he is the only one responsible for all dealings performed via the electronic channel through his password and the identification symbol even if they were performed by someone else.

6. The customer is responsible for supplying maintenance providing appliances and programs and ad requisite needed such as expenditures, expenses, and telecommunication charges to run the electronic channel and the bank shall not assume any responsibility in case of any mistakes and/or defects in the programs used by the customer and/or in case the customers use of any programs and/or additional appliances that would lead the efficiency and the security of the service to danger or failure. Furthermore, the bank is not held responsible in case of virus existence in the customer’s appliances that lead to revealing his date or balances, and the customer himself carries the responsibility alone, and the bank shall not assume any responsibility in case of any failure in receiving electronic emails and SMS through the cellular appliances and the wire and wireless telecommunication networks and in any case the bank is not found guilty.

7. The customer shall agree on the use of the Electronic Services and the relevant services for the tariff and commission tables proposed by bank from time to time.

8. The customer alone shall be responsible for any entry on his account/accounts when using any of the Electronic Services and any mistakes resulted from transferring any amount of money to any other customers account through any of the Electronic Services.

9. The Bank shall have the right to suspend and/or cancel the service and Electronic Services at any time and for the period the bank sees reasonable without any advance notification or any justification.

10. The customer shall have the right to suspend and/or cancel the subscription in the Electronic Channel or any of the relevant services by submitting a written application or notice to the bank, and he shall have the right to refresh his changeable data wherever they are through the internet Channel.

11. The Bank shall have the right to refrain from performing any transfer and/or payment orders transactions for any amount in case of overdrawn or insufficient balance of the customer's account at the time of transfer, and the bank shall have the right to allowed daily limitations.

12. The Bank shall immediately undertake the transfer on the same day determined by the customer if the transfer is between his accounts or any other accounts at the bank and within two days if the transfer is between accounts and other banks. In this case the amount shall be deduced from the customer's account on the day of execution, and also the Bank shall never be held responsible for any delay out of control. The customer can cancel the transfer and payment order in writing to the branch the customer deals with explaining his desire in cancelling this order if the bank till that time has not performed the payment and transfer order.

13. When canceling and/or suspending the Electronic Services and/or its pertinent services for any reason, the payment and transfer orders performed in advance by the customer are valid and effective on the value day the customer demanded earlier unless the customer demanded the cancelation of such orders according to the terms mentioned in the previous clause.

14. All the services through the Electronic Services shall be available round the clock and for the all weekdays unless the service nature imposes something different or what the bank shall propose to make available through working days only and the money transfer as well.

15. In case the customer requests issuance of a check book via the Electronic Services, he receives the check book from the branch where his account is opened if his request got accepted.

16. The statement of the account along with the orders done via the Electronic Services is considered right and correct unless there is any objection in writing sent to the bank via Electronic Email or any other way within fifteen days from the date of the issuance of the account statement, disclosing the reference number and the disputed transaction. However, all entries in the bank records are absolutely correct in confronting the customer and enough to prove that the all transactions are made by the customer himself, so that the customer shall have no right to claim anything or express any objection anyhow.

17. All account statements and data, either copies or originals come out from the computerized system or any other technical devices and absolutely right and correct include the electronic data and voice records, all are considered as legal proofs and compulsory, and the customer has no right to express any objection and shall agree that all the Bank statements are confirmed and accurate, thus, the customer has no right to claim anything in front of any third part.

18. The customer’s committed to inform the Bank in writing once he realized that someone else has entered into his account or in case of any possibility of revealing his identification symbol and password, and the customer shall be responsible for all the transactions that have be done and the amounts have transferred as result till the end of the official workday on which the Bank has received the notification from the customer, and also the customer hereby assigns the Bank unlimited authorization to undertake any reasonable procedures once Bank get Informed about it either by suspending the services have been done by the customer via any Electronic Service without befalling any responsibility on the Bank.

19. The customer shall be obliged to pay additional commission for any password given to him upon his request if the Bank has agreed, according to the commission and tariff list already agreed upon

20. If the customer requests suspension for the electronic channel or for any service offered through this service for any reason, the customer shall be responsible for all transaction amount transferred as a result of the use of the user’s name and his passwords till the end of the working day in which the bank shall be notified.

21. The electronic channel be temporarily suspended in case of the password of access, and/or payment order transactions is entered incorrectly for three consecutive times, as for the customer, he shall follow up the case with his concerned branch to reactivate the service.

22. The electronic mail offered by the banking service channel via internet is the only secure device for correspondence between the bank and the customer, and the customer is considered as recipient for any message and/or notification and/or letter the bank send by mail. Also the customer shall accept that all messages sent from his side via electronic mail are brought out by him and compulsorily abiding him.

23. The bank shall have right to change and/or add any conditions concerning the electronic channels and/or he use after informing the customer in writing or by electronic email on his address available at the bank, and then the alterations made become effective unless the bank receives any objection from the customer within the period determined in the notification, and the customer shall admit any changes made in the programs of the electronic channels by the bank without referring to the customer or any advance notification.

24.The customer shall agree on the procedures and systems followed in the Bank to confirm the electronic dealing, which treat the information, and disclose how accurate and affiliated is such information to the customer including his electronic signature. Furthermore, the customer shall approve any act undertaken by the bank to assign any permissive party for confirmation proposes.

25. It is agreed upon between the bank and the customer that they she! do and execute all banking dealing mentioned in all these terms and condition via electronic devices.

28. In addition to the electronic correspondence via electronic channels. the address provided to the bank shall be the official address for the customer, and in case of alteration the customer shall be obliged to inform the bank in writing.

27. The customer shall have the right to terminate his subscription by submitting a written letter to the bank just as the bank shall have the right to terminate the customer subscription at any time and without referring to the customer for approval, advance notice, or justification.

28. The term and conditions of this agreement shall be governed by the laws and regulations of Republic of Yemen.