TERMS AND CONDITIONS
1 This Installment plan (the "Scheme") is a loan facility promoted by Nabil Bank (hereinafter referred to as the Bank) and available for its members of Nepalese Rupees (NPR) credit cards as per the terms and conditions governing the issuance of credit cards including conditions detailed hereunder.
2 The Scheme allows Nabil credit card members (“card member/s”) to purchase mobile service plan (hereinafter referred to as “the service plan”) comprising of mobile device and mobile services (For example: Pro-plus, Pro-premium and Blackberry services) offered by Ncell P. Ltd. ("the merchant") or any other service plan introduced and offered by the merchant in future under this Scheme, where the card member can use the mobile services offered in the service plan.
3 The Scheme value (amount) or the "Loan amount" means the total value of the service plan in Nepalese Rupees excluding the expenses or limits assigned for extra usage that is repayable to the Bank in 12 monthly installments.
4 Extra usage means the use of service plan beyond the Scheme value enjoyed by the card member during a month.
5 Monthly Installment or Monthly Installments (MI) mean/s the Scheme value divided by the Scheme tenure (or its multiple) plus charges incurred by the card member for extra usage in any month during the Scheme tenure.
6 The Scheme will have maximum tenure of 12 months.
7 Financial charges means the fees and charges fixed by the Bank for specific services or non performance of the card member in accordance to the terms and conditions of the Scheme and/or the credit card terms and conditions. The Bank reserves the sole right to introduce and amend the charges from time to time.
8 Nabil Bank reserves the right to reject any/all applications made by the card members for the Scheme without assigning reason whatsoever. The Bank may assign limits extra usage if it accepts the application, at its own discretion and judgment, which is final and binding on the card member.
9 The merchant reserves the right to reject any application for mobile services under the Scheme at its own discretion. The Bank shall not be liable to perform as per the terms and conditions presented herein in such circumstances, or shall not be subjected to claims or disputes or lawsuits for any losses arising thereof.
10 By signing the Delivery Order, card member acknowledges the receipt of goods and/or services and agrees that the obligation of the card member to make the payment of the MI is created immediately and continues in full force until the complete settlement of the same including any financial charges levied by the Bank.
11 The applicable ownership tax of NPR 1,130.00 and any other applicable taxes pursuant to enjoying the service plan shall be paid by the card member by him/herself at the service counters of the merchant.
12 The Bank shall charge the first MI in the credit card account of the card member immediately upon receipt of the acknowledged Delivery Order by adjusting any financial charges determined by Nabil Bank from time to time. Unless any other provision under these terms and conditions of the Scheme is attracted, the Bank shall charge the subsequent MI to the card member's credit card on monthly basis as per its schedule until the final MI.
13 If the MI charged to the credit card account is not settled by the card member within the payment due date the Bank shall levy interest at the rate of 2.25% per month in the first month after the due date and interest at the rate of 3.0% in the subsequent months on the entire outstanding in the credit card account; along with Late Payment fee of minimum Rs 300 or 0.2% of the outstanding per month; and other fees and charges as per the credit card terms and conditions governing the issuance and use of the Bank's credit card. For the purpose of calculation of interest amount, outstanding will comprise of the value of MI charged to the credit card plus other transactions performed by the card member within the limits assigned to credit card account plus accrued fees and charges.
14 The card member will be allowed the option of prepaying the total outstanding of the Scheme, by way of a lump-sum payment. A nominal prepayment charge shall be levied (NPR 250 or 1% on outstanding value whichever is higher) to process this request.
15 The Bank reserves the right to disqualify any card member from further participation, if in its judgment, the card member has in any way violated these terms and conditions or has violated the credit card terms and conditions. In such event, the card member shall be liable to settle the entire outstanding in the credit card account, remaining MI of the Scheme with applicable fees and charges, immediately upon the notice from the Bank.
16 The Bank reserves the right block or cancel the mobile services enjoyed by the card member under the Scheme with the merchant, anytime and without any prior notice or liability to the cardholder in any manner whatsoever.
17 The card member's decision to discontinue the service plan offered in the Scheme before the completion of the Scheme tenure shall not cease or affect or relieve the card member from his/her obligation to continue paying MI to the Bank until the final settlement of the MI and the entire outstanding in the credit card account.
18 The Bank will not be liable for any damage or loss incurred by the card member arising out of the purchase, pricing, installation, use or otherwise of the good(s) and/or service(s) under the Scheme for any negligence breach of statutory or other duty on the part of the merchant. Nor shall the Bank be responsible in any way for the quality of the good(s) and or service(s) purchased under the Scheme. Any complaint about the quality of good(s) and or service(s) purchased shall be referred to the supplier or the merchant and shall not affect card member's obligation to continue paying MI to the Bank.
19 The Bank reserves the sole right to terminate the Scheme or cancel or vary its benefits or features or vary the terms and conditions; and introduce or revise fees and charges of the Scheme without prior notice or without assigning any reason whatsoever.
20 The Bank shall not be liable if it is unable to perform its obligation under these terms and conditions for any reason whatsoever. Further, the Bank shall not be held responsible for any delay in transmission of information to the Bank from the merchant or any third party.
21 These terms and conditions shall apply to the Scheme without prejudice to the existing credit card conditions governing the issue of and use of Nabil credit cards.
22 If any time, disputes arise in connection with the Scheme or these terms and conditions, the Bank's decision in connection with the same shall be final and binding.
23 By signing these terms and conditions, the card member acknowledges s/he has read and/or has been informed by the Bank regarding the above terms and conditions; fees and charges applicable to participate in the Scheme, and to subscribe to the credit card services of the bank.