INSURANCE COVER ON SAFE DEPOSIT BOX:

We are pleased to inform you that we have insured your safe deposit boxes at an insurance cover of RM10, 000 per safe deposit box. Please ensure that the contents of your safe deposit boxes are adequately insured. Should you need additional insurance cover and a copy of the revised Bank’s Conditions Governing the Hiring of Safe Deposit Boxes, please visit the branch where you maintain the safe deposit box.

CONDITIONS GOVERNING THE HIRING OF SAFE DEPOSIT BOXES

1. In these conditions, the expression “Box” means the Safe Deposit Box agreed to be hired by the Hirer and the expression “Hirer” includes any person authorised under his Mandate and the masculine pronoun also implies the feminine gender and the “Bank” means the OCBC Bank (Malaysia) Berhad and its Branches where such services are available.

2. To hire a Box, the Hirer will be required to pay rental in advance, together with a deposit for his keys and shall enter into an agreement with the Bank for the hiring of the Box under the following conditions.

3. The Agreement for Hire shall not confer on the Hirer any greater or other interest than a licence to use the Box during the term of hire for the deposit of articles of a suitable nature in accordance with these conditions.

4. The Bank shall not be deemed to become a bailee of the contents of the Box or any part thereof, nor shall it be affected by notice of any trust or equity attaching to such contents or any part thereof. Subject to the provisions of condition 7 hereof, the nature and value of such contents shall be no concern of the Bank.

5. Only the Hirer shall be permitted access to the Box. He will not be allowed to sublet the Box or any part thereof. He may, however, authorise another person to have access to his Box under a Mandate executed on the Bank’s form and such a person is hereby deemed to have the Hirer’s full authority to remove or otherwise deal with the contents of his Box upon production of the key and his signature being verified to the satisfaction of the Bank.

6. Each Box shall have two sets of keys, namely the A keys which shall be kept by the Bank, and the B keys which shall be delivered to the Hirer on payment of a deposit. The Hirer undertakes to keep the B keys very carefully. If any of the B keys be lost, stolen or mislaid, the Hirer shall immediately report it to the Bank and the Bank may at the request of the Hirer obtain a new B lock and the cost thereof shall be paid by the Hirer. Unless and until the Bank is duly notified of the loss of the key, the Bank shall not be responsible for any loss or damage resulting from the Box being opened and the contents removed by any person producing the key and impersonating the Hirer. All necessary repairs to the lock or keys shall be carried out exclusively by workmen nominated by the Bank. The expenses arising from the loss of the key or keys and of any repairs arising from other than the ordinary and reasonable use of the Box, (including the cost of a new lock if required) shall be borne by the Hirer.

7. The Hirer shall not use or permit the Box to be used for the deposit of any liquid or anything of an explosive, dangerous or offensive nature, or anything which may become a nuisance to the Bank or the Hirer of any other Safe Deposit Box, or for any other purpose than for the deposit of articles or documents of value; and the Hirer will on demand permit the Bank to inspect the contents of the Box for the purpose of ensuring that this condition is being complied with.

8. The Hirer may have access to the Box on any day (except Saturday, Sundays and holidays) during the office hours of the Bank on his signing an application for such access but the Bank will not be bound to allow such access if the signature of the Hirer is not verified to the satisfaction of the Bank; and the Bank shall not be responsible for any loss or damage arising from the Bank refusing to give the applicant access to the Box by reason of the Bank not being satisfied as to the genuineness of the signature. The Bank may also refuse to allow access to the Box if the rent is in arrears and unpaid (unless and until the Bank has received express notice of the determination of the hire) or any sum is due and owing to the Bank from the Hirer under these conditions.

9. If the rent be in arrears and unpaid for one month after the due date, or if there shall be any breach or non-observance or non-performance of any of these conditions on the part of the Hirer the Bank shall be at liberty by one month’s notice in writing to the Hirer to determine the Agreement for Hiring and in such case the Bank shall be entitled only to a portion of the rent up to the date of the termination of the Agreement, subject nevertheless to Conditions 11 and 12 hereof, and if the rent for the current year shall have been paid , the rent shall not be refunded by the Bank.

10. On the termination of the Agreement for Hiring by the Bank or the Hirer all the property deposited in the Box shall be removed and the B keys returned to the Bank. The receipt of the B keys will be acknowledged by the Bank by the refund of the Deposit for them.

11. If the contents of the Box is not removed or the B keys is not returned to the Bank on or before the termination of the Agreement by either party the Hirer shall be liable to pay to the Bank double rent from the date of the termination until the contents of the Box is removed and the B keys returned to the Bank.

12. In the event of the B keys not being returned to the Bank within six months from the termination of the Agreement, the Bank shall have the right at any time thereafter to break open the Box and if the Bank thinks fit to break the seal of any packet or receptacle in the Box and unlock or break open any locked receptacle without being responsible for the damage occasioned. The Bank shall be at liberty to forward the contents of the Box by registered post or other reasonable means at the Hirer’s risk to the Hirer at the address referred to in Condition 16; or at the Bank’s option it may retain and keep the said contents in the same Box or such other safe or place as it may think fit at the sole risk of the Hirer; and the Bank shall be entitled to charge a sum equal to double the rent payable hereunder for the period commencing from the date of termination of the Agreement until the Bank forwards the contents of the Box to the Hirer or until the Hirer shall remove the contents of the Box.

13. The Bank shall have a lien or charge on the contents of the Box for the rent and all sums for which the Hirer may become liable to the Bank under these conditions, and may at any time and from time to time after the expiration of the said period of six months without notice to the Hirer sell all or any of the contents of the Box and apply the net proceeds in or towards satisfaction of the moneys due to the Bank for such rent or expenses as aforesaid and the surplus proceeds of sale (if any) shall be retained by the Bank to the order of the Hirer without any liability on the part of the Bank for interest.

14. In the event of the death of the Hirer his legal personal representative or representatives if more than one, on producing the Grant of Probate or Letters of Administration and signing his name or their names in the Application Form and producing the B keys, may have access to and open the Box and remove all of the contents, and this act shall automatically terminate the Agreement. The Bank may in its discretion without being responsible for any loss, before the grant of Probate or Letter of Administration permit any person claming to be entitled to administer the deceased Hirer’s estate to open the Box and examine the contents in the presence of an official of the Bank, but such person shall not remove any of the contents except any Will or Testamentary paper whereby such person is appointed executor.

15. Where 2 or more persons are included in the term “Hirer”, all obligations and covenants in these terms and conditions shall be deemed to be made by and binding on each of the Hirer jointly and severally and the Box shall be deemed to be opened or maintained in joint names with right of survivorship. The Agreement shall not be terminated by the death or incapacity of any of the Hirers but shall remain in full force for the remaining Hirer(s). Upon notice of death of any one or more of the Hirers, the Bank shall be entitled to allow the survivor or if more than one (1) survivor, allow all the survivors access to the Box and remove all of the contents provided that prior to such access the survivor(s) shall produce the B keys and such other verification and/or sign such documents that may be required by the Bank. If the Bank receives contradictory instructions from the joint Hirers or their legal representatives, the Bank may choose to act on the mandate of all the Hirers or all the legal representatives.

16. Any notice left at or sent by post to the Hirer at the address he has given to the Bank or to such other address as he may from time to time in writing instruct the Bank to substitute therefore, shall be deemed to have been served on the Hirer within seven (7) days after posting, if posted to an address in Malaysia or within fourteen (14) days after posting, if posted to an address outside Malaysia. The Bank shall be deemed to have notice of the Hirer’s change in address only if the Bank has actually received notice of such change.

17. The Hirer acknowledges agrees and is fully aware that the Bank is not in any way obliged to, and will not, take out any insurance in respect of the contents of the Box against any risk save for the insurance cover in the sum of RM 10,000-00 per safe deposit box for loss and damages. The Hirer agrees that the Hirer is responsible for taking out the Hirer’s own insurance in respect of the contents for such additional amounts and against such risks as the Hirer may consider appropriate. The liability of the Bank in respect of any claims whatsoever with regard to or relating to the safe deposit box shall be limited to RM 10,000-00 per safe deposit box.