1. Definitions and interpretation

1.1 In these Terms and Conditions unless the context otherwise requires:

(a) “Bank” means I & M Bank Limited, incorporated in Rwanda as a limited liability company under the Companies Act (Cap 486 of the Laws of Rwanda) and includes such Branch or Subsidiaries of the Bank as may from time to time be specified by the Bank to the Customer.

(b) “Banking Day” means a day on which the counters of the Branch and/or the Bank Subsidiary (as applicable) are open for the transaction of ordinary business;

(c) “Bank Subsidiary” means the subsidiary or subsidiaries of the Bank which may from time to time be specified by the Bank to the Customer;

(d) “Branch” means a branch or branches of the Bank which may from time to time be specified by the Bank to the Customer;

(e) “Bank Account” means the Customer’s personal and business transaction account(s), current overdraft facility account(s) and term and call deposit accounts (as the case may be) with the Bank;

(f) “Customer” means the Bank’s Customer who is operating an active Bank Account;

(g) “Customer Group” means the Customer and where the Customer is a company, its holding company (if any) and their respective subsidiaries from time to time;

(h) “Corporate administrator”-The person appointed by the account signatories of a Bank Account held by a corporate Customer, to create other Internet Banking operators;

(i) “Corporate user/Maker” Internet Banking operator with system rights to create or initiate new instructions (payments and other requests) on internet banking system, as created by a corporate administrator;

(j) “Corporate Dual user” Internet Banking operator with rights to both create and authorize instructions(payments and requests) on Internet Banking system, as created by a Corporate administrator;

(k) “Corporate Authoriser /Checker” Internet Banking user with rights for authorizing instructions created by Corporate Maker, as created by a Corporate Administrator;

(l) “Deposit Account” means a Bank Account with an available credit balance;

(m) “General Terms and Conditions” means the Bank’s General Terms and Conditions signed by the Customer at the time the Customer opens a Bank Account;

(n) “Nominated User/s” means the representative or representatives of the Customer authorized by the Customer to hold and change the Password and hence to access the System and Service on behalf of the Customer;

(o) “Password” means the secret password known only to the Customer or Customer’s Nominated User for access to the System. The Customer or Nominated User may change the password at will;

(p) “Request” means a request or instruction received by the Bank from the Customer or purportedly from the Customer through the System and upon which the Bank is authorized to act on;

(q) “Service” means such of the internet banking services, offered by the Bank which may be collectively branded by a product name, as the Customer may from time to time subscribe for;

(r) “System” means the electronic banking and communications software enabling the Customer to communicate with the Bank for the purposes of the Service. The System and Service will for the purpose of the Subscription be accessed through the internet via the Bank’s website, www.imbank.com;

(s) “Application” means application for the Internet Banking Service by a Customer;

(t) “User ID” means a unique identifier of the customer in the Internet Banking system and typically, it is the retail customer’s Customer Identification File (CIF) as recorded in the Bank’s core banking system; and

(u) “Corporate ID” means a unique identifier of the Corporate in the Internet Banking system and typically, it is the corporate customer’s Customer Identification File (CIF) as recorded in the Bank’s core banking system;

1.2 In these Terms and Conditions:

(a) where “the Customer” is more than one person, references to “the Customer” shall include all and/or persons and the obligations of the Customer shall be joint and several;

(b) words in the singular shall include the plural and vice versa and words importing any gender shall include all other genders;

(c) the customer agrees that the Terms and Conditions set out hereunder shall apply to the use of the Service, as provided by the Bank to the customer; and

(d) the customer further agrees to accept and abide by such Terms and Conditions and instructions from time to time in force.