Credit Card Service: a group of all-in-one functions for repayment of ICBC Peony Credit Card, Secured Credit Card, application of a new or replacement card and checking/updating of card details.
The applicant ("Party A") applies for cash installment service at his/her own discretion and agrees to abide by the ICBC Peony Credit Card Regulations, Peony Credit Card Cardholder Agreement (Personal Card), Peony "Easy Time" Credit Card Cardholder Agreement and terms and conditions of the Agreement herein. Party A and ICBC departments ("Party B") reach the following agreement in connection with the Party A's cash installment services:
Article I Party A applies for Party B's cash installment services at his/her own discretion. Party A shall warrant that the amount applied is only for own purposes (including buying FX), neither for buying stocks or futures, real estate development or house purchase, equity investment, nor for lending to other parties to gain illicit income or engaging in activities explicitly restricted under laws and regulations of other countries.
Party B reserves the right to supervise the use of cash installment. In case Party A violates the above-mentioned purposes and rules, Party B reserves the right to terminate cash installment agreement in advance and collect back the cash installment amount, bank charges (interest) and fees, or adopt other measures as stipulated by the laws.
Article II Cash installment amount is in RMB. Each cash installment ranges from RMB 600 (inclusive) to RMB 50,000 (inclusive) with a term up to 2 years (inclusive).
The actual amount, transaction date and term of each cash installment applied by Party A must be approved by Party B. Actual amount and term refer to the final cash installment processed.
Article III Pursuant to this Agreement, Party B collects banking charges for the cash installments under credit card (except Easy Time credit card). Bank charges for cash installments shall be collected at the prevailing rate. Two options for the collection of bank charges, one-time or by installment, depending on the option announced by Party B thereof.
The interest rate of Easy Time credit card under this Agreement is calculated at annual rate (%) as per national rules. Interest shall be calculated starting from the transaction date of cash installment.
