HANG SENG BANK LIMITED INTEGRATED ACCOUNT TERMS AND CONDITIONS
PART III TERMS AND CONDITIONS FOR CURRENCY TRANSACTIONS
1.	Currency Exchange Transactions
	1.01	The Bank is entitled to prescribe from time to time:
		(a)	the currencies which may be handled by the Bank;
		(b)	the minimum and maximum transaction amounts; and
		(c)	the denominations of currency notes which may be provided by the Bank.
	1.02	The actual bid and offer prices of any currency exchange transaction will be determined at the time when such transaction is effected. Any exchange rate which may be quoted by the Bank or its representatives at any time for the purpose of any transaction are for indication and reference only. The Bank is entitled to effect each transaction at the exchange rate prevailing in the relevant foreign exchange market at the time when such transaction is effected.
	1.03	The Bank is entitled to debit the Customer's account for the amount of the transaction on the day on which it accepts the relevant Instruction.
	1.04	Where the Customer orders currency notes:
		(a)	the Customer may specify any particular branch of the Bank at which the currency notes shall be collected subject to the agreement of the Bank;
		(b)	the Customer may authorize (in such form as the Bank may reasonably require) an Authorized Person to collect the currency notes at the Customer's risk;
		(c)	the Customer or (if applicable) the Authorized Person must produce to the satisfaction of the Bank such identification documents and other information as the Bank may reasonably require before collecting the currency notes;
		(d)	the Customer or (if applicable) the Authorized Person must collect the currency notes at the designated branch within such period as the Bank may reasonably specify;
		(e)	if the currency notes are not collected from the designated branch within the period specified by the Bank, the Bank may (but is not obliged to) reverse the relevant Transaction by converting the currency notes to Hong Kong dollar at the Exchange Rate and crediting the Hong Kong dollar amount to any of the accounts of the Customer. Any gain or loss (as the case may be) as a result of any fluctuation in exchange rates shall be paid to or borne by the Customer.
	1.05	In connection with any transaction denominated in United States dollars cleared or settled through the US Dollar Clearing System established in Hong Kong, the Customer:
		(a)	acknowledges that the operation of the US Dollar Clearing System will be subject to the US Dollar Clearing House Rules (including, without limitation, the USD Operating Procedures referred to therein);
		(b)	agrees that the Hong Kong Monetary Authority shall not owe any duty or incur any liability to the Customer or any other person in respect of any claim, loss, damage or expense (including, without limitation, loss of business, loss of business opportunity, loss of profit, special, indirect or consequential loss) even if the Hong Kong Monetary Authority knew or ought reasonably to have known of their possible existence) of any kind or nature whatsoever arising in whatever manner directly or indirectly from or as a result of:
			(i)	anything done or omitted to be done by the Hong Kong Monetary Authority in good faith or by the settlement institution of the US Dollar Clearing System, Hong Kong Interbank Clearing Limited or any member of the US Dollar Clearing House in the management, operation or use (including, without limitation, the termination and/or suspension of the settlement institution, the US Dollar Clearing facilities or any such member) of the US Dollar Clearing House or the US Dollar clearing facilities or any part of any of them;
			(ii)	without prejudice to (i) above, the giving of any notice, advice or approval in relation or pursuant to the US Dollar Clearing House Rules (including, without limitation, the US Dollar Operating Procedures referred to therein).
2.	Currency Switching Service
	2.01	The Customer authorizes the Bank to provide the Currency Switching Service in the following manner:
		(a)	to debit any and all available credit balance in the Savings Account, the foreign currency savings account and/or the Current Account comprised in the Integrated Account determined in accordance with Clause 2.03 of this Part (the "Available Balance") at the intervals elected by the Customer;
		(b)	to apply any and all Available Balance debited to the purchasing of the currencies elected by the Customer subject to the Exchange Rate Criteria elected by the Customer; and
		(c)	to credit any and all amount of each purchased currency to any account comprised in the Integrated Account in the relevant currency denomination,
		in each case without further notice to or consent from the Customer.
	2.02	For the purposes of providing the Currency Switching Service, the Bank may prescribe and vary from time to time:
		(a)	the currencies and any minimum or maximum amount of each currency which may be purchased by the Customer;
		(b)	any minimum or maximum amount which the Customer may elect to debit pursuant to the Currency Switching Service;
		(c)	the timing and frequencies at which debits may be made pursuant to election by the Customer;
		(d)	the criteria determining the availability and amount of Available Balance (the "Amount Criteria") which the Customer may elect;
		(e)	the criteria determining whether actual debits shall be made to effect purchases of currencies (the "Exchange Rate Criteria") which the Customer may elect;
		(f)	the timing at which the Bank applies the Amount Criteria elected by the Customer to the relevant account to determine the Available Balance;
		(g)	the timing and frequencies at which the Bank checks the Exchange Rate Criteria elected by the Customer against the prevailing buying rate or selling rate applicable to the relevant currencies quoted by the Bank to determine whether any actual debit shall be made to effect a purchase of the currencies elected by the Customer; and
		(h)	any minimum or maximum number of debit Instructions which the Customer may set up under the Currency Switching Service, whether by reference to an account, a currency or any other criteria.
	2.03	Whether there is any Available Balance in the relevant account and the amount of each Available Balance to be debited shall be determined by the Bank at the time the Bank applies the Amount Criteria elected by the Customer to the account against the day-end balance in the account on the previous Business Day as reflected in the Bank's records. Subject to Clause 2.04(a) of this Part, the availability and amount of each Available Balance shall not be affected by any variation in the credit balance in the account before or after such determination. The Bank shall not be under any obligation to ensure that the credit balance in the account after debiting the Available Balance exceeds any amount.
	2.04	The Bank reserves the right not to act on any debit Instruction if:
		(a)	an overdraft will arise in the relevant account after debiting the amount of Available Balance due to any decrease in the credit balance in the account after the amount of Available Balance was determined by the Bank; or
		(b)	there are any irregularities concerning the relevant account, any contradictory or unclear Instructions being given or other technical or operational reasons not to act on the debit Instruction.
	2.05	Amount Criteria and Exchange Rate Criteria
		2.05.1	The Bank may prescribe the Amount Criteria and Exchange Rate Criteria by reference to relevant factors and/or standards and/or a combination of factors and standards.
		2.05.2	The Customer shall elect his Amount Criteria and Exchange Rate Criteria and notify the Bank of his election in such manner as the Bank may reasonably require from time to time.
		2.05.3	Subject to the agreement of the Bank, the Customer may instruct the Bank to vary any Amount Criteria or Exchange Rate Criteria elected by the Customer and/or to cancel any debit Instruction or suspend it for a specified period. Any Instruction received by the Bank shall not be effective until after the Bank is given reasonable time to process it.
		2.05.4	Subject to the agreement of the Bank, the Customer may elect a fixed debit amount or a variable debit amount. By electing a fixed debit amount, no debit shall be made by the Bank for the Customer unless the Available Balance elected by the Customer to be debited is available in full after the Amount Criteria are satisfied at the time the Bank applies the Amount Criteria to the relevant account. By electing a variable debit amount, the Bank shall debit any and all of the Available Balance after the Amount Criteria are satisfied at the time the Bank applies the Amount Criteria to the relevant account.
		2.05.5	If the day on which the Bank is:
			(a)	to apply the Exchange Rate Criteria to determine whether any debit and purchase shall be made; or
			(b)	to make any debit or purchase,
			is not a Business Day, the Bank shall perform the relevant action on the next Business Day except that the Bank shall perform the relevant action on the previous Business Day if the next Business Day falls into the next month.
	2.06	Currency Switching Transactions
		2.06.1	The Bank shall check the Exchange Rate Criteria elected by the Customer against the prevailing buying rate or selling rate applicable to the relevant currency quoted by the Bank at the times of checking. Unless the Bank has made other arrangements with the Customer, the Bank is entitled to effect a currency transaction for the Customer at the prevailing rate quoted by the Bank if such rate falls within the Exchange Rate Criteria elected by the Customer. The Bank is not under any obligation to check the Exchange Rate Criteria elected by the Customer against the rates prevailing in the relevant foreign exchange market on a real time basis, nor to effect any currency transaction at such rates.
		2.06.2	The Customer acknowledges that no warranty or guarantee is given by the Bank that the Bank will effect any transaction for the Customer pursuant to the Currency Switching Service. The Bank may be unable to check whether the Exchange Rate Criteria elected by the Customer match the prevailing rates quoted by the Bank or to effect any transaction notwithstanding that the Customer's Exchange Rate Criteria are met due to the volume of instructions and transactions, market circumstances or other factors beyond the Bank's reasonable control which may be existing at the relevant time. The Bank is not liable for any loss or damage which the Customer may suffer or incur as a result of the Customer's Exchange Rate Criteria not being checked or matched or any transaction not being effected due to the above circumstances, unless due to the negligence or wilful default of the Bank, its officers or employees and only to the extent of direct and reasonably foreseeable loss and damage (if any) arising directly and solely therefrom.