To clarify the rights and obligations of both parties and regulate the use of electronic banking services, Party A (the Customer) and Party B (US Development Bank, hereinafter referred to as the “Bank” or “UDBK”) hereby enter into this agreement in accordance with U.S. laws and regulations, including the Electronic Fund Transfer Act (EFTA) and the Gramm-Leach-Bliley Act (GLBA).
Before signing this agreement, please read all the terms carefully, with particular attention to your rights, obligations, and risk warnings. If you do not understand or do not agree to any of the terms, please do not sign, click to confirm, or proceed with registration or login. Your signature, confirmation click, or subsequent actions will be deemed as your understanding and acceptance of this agreement.
1. Definitions
Unless otherwise specified, the following terms shall have the meanings set forth below:
Bank: Refers to UDBK (US Development Bank).
Electronic Banking Services: Refers to banking services provided by commercial banks and other financial institutions to customers through publicly accessible communication channels or open public networks, as well as dedicated networks established by the bank for specific self-service facilities or customers.
Electronic banking services include online banking, mobile banking, and other banking services where customers complete financial transactions through self-service methods using electronic service devices and networks.
Dynamic Password Generator (also known as a dynamic token or Token): A device that generates random numerical combinations based on a specialized algorithm for transaction verification. The dynamic password changes continuously over time or with each use, and each password can only be used once. The customer must enter this verification code as prompted during electronic banking operations.
Individual: Refers to a natural person who has opened an account with the Bank.
Electronic Banking Instruction: Refers collectively to any business command, such as inquiries or transfers, issued by the customer to UDBK through electronic banking.
2. Rights and Obligations of Party A
I. Rights
(1) Party A voluntarily applies to register for the Bank’s electronic banking services. Upon approval by the Bank, Party A shall be entitled to different services based on the registered items.
(2) During the registration period, Party A has the right to apply for electronic banking services, modify services, suspend services, resume services, or cancel services in accordance with the Bank’s procedures. Party A shall bear all risks and losses arising from failure to comply with these procedures.
(3) If Party A has any questions, suggestions, or complaints regarding the Bank’s electronic banking services, Party A may contact customer service by phone, visit the Bank’s official website, or go to any of the Bank’s branches for consultation or to file a complaint.
II. Obligations
(1) Party A shall comply with the Bank’s electronic banking regulations and agrees that the Bank may automatically deduct relevant service fees from the registered (payment) account in accordance with the Bank’s electronic banking fee schedule.
(2) When registering, canceling, or modifying electronic banking services at the Bank’s branches, Party A shall provide the required documents, complete the relevant application forms, and confirm by signature. The application forms submitted by Party A to the Bank constitute an integral part of this agreement. Party A shall ensure that the information provided is true, accurate, and complete. Party A shall bear all losses arising from false or incomplete information.
(3) Party A shall access personal online banking by logging in through [www.udbki.com](http://www.udbki.com) and shall not use links provided in emails or other websites. For mobile banking, Party A shall download the application from the Bank’s official website ([www.udbki.com](http://www.udbki.com)) or compliant app stores.
(4) When using the Bank’s SMS notification service, Party A shall ensure that the mobile phone number used to receive messages is the registered and bound number. When receiving and reading financial SMS notifications from the Bank, Party A shall verify the SMS source code to confirm that the message is indeed sent by the Bank. The SMS source code refers to the sender number displayed on Party A’s phone when receiving messages from the Bank. If Party A mistakenly believes that an unmarked or unrecognized SMS was sent by the Bank, resulting in losses or disputes, the Bank shall not be held liable, and Party A shall have no right to demand any compensation from the Bank.
(5) When using SMS verification, Party A shall carefully verify that the transaction type, amount, and other details match the ongoing transaction. The Bank shall not be liable for any losses caused by Party A’s failure to verify such information.
(6) Party A must safeguard its account number, registered mobile number, dynamic password generator, and passwords (including login and transaction passwords) and shall be responsible for all financial transactions conducted using such credentials. Once the Bank executes an electronic payment instruction after passing the security verification, Party A may not alter or revoke the instruction.
(7) Party A shall pay the Bank for electronic banking services in accordance with the UDBK Electronic Banking Service Fee Schedule and authorizes the Bank to deduct such fees from the registered account. Party A shall bear all mobile data and network communication costs incurred from using electronic banking and financial SMS services.
(8) Party A shall promptly visit the Bank’s branches to complete the necessary procedures in the following circumstances. Failure to do so may result in the inability to use electronic banking services normally or reduced account security, including potential financial losses. Party A shall bear all consequences before completing the required procedures:
a. If Party A’s password is leaked or forgotten, Party A shall promptly visit a Bank branch to reset the password.
b. If Party A’s mobile phone is lost, Party A shall promptly visit a Bank branch to update the registered mobile number.
c. If Party A’s dynamic password generator is damaged, locked, or lost, Party A shall visit a Bank branch to replace, unlock, or synchronize the device.
(9) If any registered information (including phone numbers) changes during the use of electronic banking services, Party A shall promptly update the information with the Bank. Party A shall bear all consequences before completing the update. If Party A does not use electronic banking for an extended period, Party A shall proactively apply to cancel the service.
(10) Party A shall ensure that the account used for electronic payments has sufficient funds and shall strictly comply with relevant laws and regulations regarding payment settlements.
(11) Party A shall not refuse to pay the Bank due to disputes with third parties. The Bank only provides secure and reliable online payment and settlement services. Any disputes regarding product quality or delivery services shall be resolved between Party A and the third party.
(12) When using electronic banking services, Party A shall also comply with other applicable Bank rules or regulations related to the service functions used.
(13) Party A shall regularly check announcements on the Bank’s website and at its branches. If the Bank adjusts service items, content, or fees, Party A’s continued use of electronic banking services after the adjustment takes effect shall constitute acceptance of the changes and agreement to abide by the updated terms.
3. Rights and Obligations of Party B
I. Rights
(1) The Bank reserves the right to approve or reject Party A’s electronic banking registration based on Party A’s creditworthiness.
(2) The Bank has the right to establish the UDBK Electronic Banking Service Fee Schedule in accordance with national regulations and to charge Party A for electronic banking services as agreed.
(3) The Bank may modify or adjust electronic banking service fees and related transaction rules, provided that such changes are announced on the Bank’s website or at its branches at least 10 working days in advance. Such modifications may constitute amendments to this agreement. Party A’s continued use of electronic banking services shall constitute acceptance of the changes. The new fee schedule and rules shall take effect after the announcement period, and the Bank shall not provide additional notice to Party A.
(4) The Bank reserves the right to upgrade or modify its electronic banking system and to adjust the services and content offered, provided that such changes are announced on the Bank’s website or at its branches at least one day in advance.
(5) If Party A fails to pay fees on time, violates the Bank’s business regulations, engages in malicious operations, or damages the Bank’s reputation, the Bank may unilaterally terminate Party A’s electronic banking services and reserves the right to hold Party A liable. If Party A uses electronic banking for illegal activities, the Bank may suspend services as required by authorities and pursue legal action.
(6) The Bank shall not be liable in the following cases where electronic banking instructions are not executed, improperly executed, or delayed:
a. The Bank receives unclear, garbled, or incomplete instructions.
b. Party A’s account has insufficient available balance or credit limit.
c. Party A’s account funds are frozen or deducted by law.
d. Party A fails to operate correctly in accordance with the Bank’s business regulations.
e. Force majeure or other circumstances beyond the Bank’s control.
(7) If this agreement is terminated or services are terminated early, the Bank shall not refund any fees already paid by Party A.
II. Obligations
(1) Under normal system operation, the Bank shall process Party A’s electronic banking instructions accurately and promptly. All instructions sent by Party A shall be deemed as Party A’s actions, and Party A shall bear all consequences. Electronic records of such operations shall serve as valid evidence for the Bank’s handling of electronic banking transactions.
(2) The Bank shall ensure the legality of the software used for electronic banking services.
(3) The Bank shall promptly process Party A’s electronic banking registration and provide corresponding services based on the registered functions.
(4) The Bank shall provide Party A with electronic banking consultation services and publish function descriptions, FAQs, transaction rules, and other relevant content.
(5) The Bank shall use Party A’s information and transaction records only within the scope permitted by law and authorized by Party A. The Bank shall keep Party A’s application materials and other information confidential unless otherwise required by law.
(6) If the Bank causes delays in payment processing due to operational errors, the Bank shall compensate Party A in accordance with relevant regulations.
4. Governing Law
(1) This agreement shall be governed by U.S. federal law and the laws of the state where the Bank is registered. If no specific law applies, generally accepted financial practices shall apply.
(2) If this agreement conflicts with any other existing agreements or arrangements regarding electronic banking services, this agreement shall prevail.
5. Disclaimer
(1) The Bank shall not be liable for any financial losses or disputes arising from:
a. Loss, lending, number change, cancellation, arrears, suspension, or reporting as lost of the mobile phone number registered for electronic banking and SMS notifications.
b. Inability to send or receive SMS notifications due to issues with the telecommunications provider.
(2) The Bank shall not be liable for failure or delay in fulfilling its obligations under this agreement due to force majeure events such as war or natural disasters, or due to non-negligent causes such as communication or power failures.
6. Dispute Resolution
(1) If Party A fails to operate correctly or causes electronic banking instructions to be unexecuted, improperly executed, or delayed due to its own fault, Party A shall promptly notify the Bank via customer service or at a branch. The Bank shall investigate and inform Party A of the results.
(2) Any disputes arising from this agreement shall first be resolved through negotiation. If negotiation fails, either party may pursue resolution through arbitration or litigation. During litigation, non-disputed terms of this agreement shall remain in effect.
7. Suspension and Termination
(1) The Bank’s electronic banking services are subject to the status of Party A’s registered account. If the account is frozen, suspended, or seized by judicial authorities, related services will be automatically suspended. Services will resume once the account status is normalized.
(2) This agreement shall terminate upon Party A’s completion of electronic banking cancellation procedures. If Party A cancels only certain services, the rights and obligations related to those services shall terminate, while other services shall remain in effect.
(3) If Party A violates this agreement or other Bank regulations, the Bank may suspend or terminate this agreement. Termination shall not affect pending transactions or legal consequences arising from prior transactions.
8. Validity and Effectiveness
If any provision of this agreement is deemed invalid, the remaining provisions shall remain in effect. This agreement shall take effect upon the Bank’s completion of Party A’s electronic banking registration.
9. The *UDBK Personal Electronic Banking Application Form* shall form an integral part of this agreement.
10. Interpretation
This agreement shall be amended and interpreted by UDBK.
11. Notice Clause
The Bank has advised Party A to fully and accurately understand all terms of this agreement and has provided explanations upon Party A’s request. Both parties acknowledge a mutual understanding of the terms herein.