Terms and Conditions Of GBTI Visa Gold and Classic Credit Card

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In this Agreement:
1. “Authorized User” means a Cardholder to whom an additional Credit Card has been issued under Clause 35 hereof.
2. “GBTI” means Guyana Bank for Trade and Industry Ltd and its heirs, successors and assigns.
3. “Cardholder” means any person to whom or for whose use a Credit Card is issued by GBTI and includes a person to
  whom a Credit Card is issued by GBTI at the request of the Principal Cardholder under the provisions of Clause 35.
4. “Cash Advance” means any payment of cash obtained of the Credit Card.
5. “Credit Card” means the GBTI VISA Credit Card currently issued to a Cardholder.
6. “Credit Card Account” means an account in the name of the Principal Cardholder maintained by GBTI in relation to
  Credit Card Transactions, and includes a joint account applied for by more than one person.
7. “Credit Card Cash Limit” means the maximum total amount of Cash Advances as approved by GBTI to the Cardholder from
  time to time.
8. “Credit Card Line” means the maximum allowable amount of credit outstanding at any one time.
9. “Credit Card Transaction” means the purchase of goods or the obtaining of services or cash against use of the
  Credit Card, the Card number or in any manner
10. authorized by the Cardholder for debit to the Credit Card Account or the utilizing of any services made available to
  the Cardholder by GBTI from time to time in respect of the Credit Card.
11. “Merchant” means the Corporation, Firm, or individual who has agreed to honour the Credit Card upon
  presentation.
12. “PIN” means the personal identification number of the Cardholder.
13. “Principal Cardholder” means the Cardholder in whose name a Credit Card Account is maintained by GBTI.
14. “Billing Period” means the period between the dates of any two consecutive billing statements.
The Credit Card must be signed by the Cardholder immediately upon receipt and may only be used:
1. By the Cardholder after it has been signed.
2. Subject to the terms of this Agreement and the conditions of use of the Credit Card which are in force at the time of
  use.
3. Within the Credit Card Line of the Credit Card Account.
4. To obtain the facilities and benefits from time to time made available by GBTI in respect to the use of the Credit
  Card.
5. Subject to the right of GBTI, in its absolute discretion and without prior notice, at any time to cancel, refuse or
  re-issue, renew or replace the Credit Card or to withdraw the right to use the Credit Card for, or to refuse any request
  for authorization of, any particular Credit Card Transaction and to publish any such withdrawal or refusal.
Credit Card may not be used as payment for any illegal purchase.
GBTI will debit the Credit Card Account with the amount of all Credit Card Transactions and any other liabilities of the
Cardholder and any loss incurred by GBTI arising from the use of the Credit Card. The Principal Cardholder will be liable to
pay to GBTI all amounts so debited whether or not a sales voucher or cash advance voucher is signed by a Cardholder.
GBTI is authorized to debit the Credit Card Account with all charges pertaining to the acquisition of the Credit Card,
and/or its renewal and/or its replacement in the event of loss/theft/damage.
Whenever the Credit Card is used to make purchases or obtain services the Cardholder shall sign a Sales Voucher or Cash
Advance Voucher, but if this is not done, the Cardholder will nevertheless remain liable to pay GBTI all amounts debited to
the Credit Card Account.
Whenever the Credit Card is used in conjunction with an automatic teller machine it must be used only in accordance with
the operating instructions and conditions of use in force for the time being. In particular cash withdrawals must not exceed
the permitted limit as notified by GBTI to the Cardholder from time to time.
If a Merchant issues a refund voucher in respect of a Credit Card Transaction, GBTI will credit to the Credit Card
Account the amount shown to be due when it receives the refund voucher from the Merchant. Unless a refund voucher is issued
and sent to GBTI then (subject to any rights vested in the Principal Cardholder by statute) the amount will be payable in
full to GBTI and no claim by a Cardholder against the Merchant may be the subject of set-off or counter claim against
GBTI.
GBTI will not be liable in any way if the Credit Card is not honoured by a third party or for any retention of a Credit
Card by GBTI, any other financial institution, or any seller of goods or services.
No Credit Card may be used after its expiry date.
In the case of a joint account, the liability of the account holders shall be joint and several.
The Credit Card remains the property of the Bank at all times and must be returned by the Cardholder to GBTI should the
Credit Card no longer be required, expired or at the request of GBTI.
GBTI may at any time and without notice, cancel or suspend the right to use the Credit Card entirely or in respect of
specific facilities or refuse to re-issue, renew or replace any Credit Card, without in any case affecting the Cardholder’s
obligations to GBTI which shall continue in force.
The Cardholder will exercise all possible care to ensure the safety of the Credit Card and will prevent the PIN from
becoming known to any person. The Cardholder will not disclose the Credit Card number to any third party except for the
purpose of a Credit Card Transaction or when reporting the actual loss or theft of or damage to the Credit Card.
If the Credit Card is lost, stolen or for any other reason liable to misuse or if the PIN is disclosed in breach of the
terms of this Agreement, the Cardholder must immediately notify GBTI or any branch of GBTI. If this notification is given
orally it shall not take effect unless and until confirmed in writing or by fax to GBTI within three (3) business days. After
GBTI has received such written notice the Principal Cardholder’s liability for any subsequent use of the Credit Card other
than by the Cardholder will cease.
The Cardholder will give to GBTI all the information in the Cardholder’s possession as to the circumstances of the
loss, theft or misuse of the Credit Card or disclosure of the PIN and take all steps deemed necessary by GBTI to assist in
the recovery of a missing Credit Card. In the event of any such loss, theft or misuse being suspected, GBTI may provide the
Police or other pertinent authority with any information it considers relevant whether relative to the Credit Card Account or
otherwise. If a Credit Card is reported as lost, stolen or liable to misuse, that Credit Card must not subsequently be used,
but must be cut in half and returned immediately to GBTI.
GBTI shall not be liable if it is unable to perform its obligations due directly or indirectly to the failure of any
machine, data processing system or transmission link or to industrial dispute or to any cause outside the control of GBTI,
its agents, servants or sub-contractors.
Any notice to the Principal Cardholder shall be sent by prepaid post to the address given in this application or the
address subsequently notified to GBTI in writing and shall be deemed to have been delivered 48 hours after the date of
posting.
The Credit Card Line together with all charges made against the Credit Card Account as provided in this Agreement must
not be exceeded at any time without GBTI’s prior approval. In the event that the established Credit Card Line is exceeded,
a minimum charge of US$25.00 per occurrence will be payable to GBTI.
GBTI may vary the Credit Card Line at any time and from time to time. Such change shall be advised to the Principal
Cardholder by prepaid post at least 15 days prior to the effective date of the change and any increase will be subject to a
fee of US$35.00.
The Cardholder may at any time pay the entire amount outstanding on the Credit Card Account. In any event, however, the
minimum payment due shown on the Principal Cardholder’s billing statement must be paid by its due date.
The minimum payment to be made shall be the total amount due at the end of a Billing Period in respect of any one or more
of the following:
1. 6% of the outstanding balance due on the Credit Card Account at the end of the Billing Period or US$30.00 whichever
  shall be the greater (or such other rate or amount as GBTI may in its sole discretion notify to the Cardholder from time to
  time); and / or
2. any minimum payment(s) due and unpaid (if any) in respect of any previous Billing Period or Billing Periods which
  remain unpaid (either wholly or partially) at the end of the current Billing Period; and / or
3. any amount(s) due (if any) in excess of the Credit Card Line, which remain unpaid at the end of the current Billing
  Period; and / or
4. all interest and other charges accrued due under the terms of the Agreement at the end of the current Billing Period.
  The minimum payment so advised will be rounded up to the next whole dollar. The payment due date shall be at least 20 days
  from the end of the current Billing Period.
of any Billing Period, subject to a minimum fee of US$10.00 will be payable by the Cardholder if payment of that Minimum
Payment is overdue.
Payments made to the Credit Card Account will be applied in the following order
1. interest on overdue payments in respect of any Billing Periods;
2. interest on amounts due at the end of the Current Billing Period;
3. fees on amounts in excess of the Credit Card Line;
4. annual fees and all other fees and charges accrued due under the terms of this Agreement not otherwise specifically
  set out in this Clause.
5. overdue payments on account of principals in respect of any Billing Periods;
6. amounts in excess of the Credit Card Line;
7. amounts on account of principal due at the end of the current Billing Period.
(a) In the event that the Principal Cardholder does not receive a billing statement within ten (10) calendar days after
the end of the relevant Billing Period, then the Principal Cardholder must so advise GBTI or any of its Branches immediately
and arrange to take delivery of a copy of that Billing Statement. (b) Any queries concerning any entry on a Billing Statement
must be made in writing by the Principal Cardholder to GBTI or any of its branches within thirty (30) calendar days after the
end of the relevant Billing Period after which time GBTI will not be obliged to consider any query.
Payments to Credit Card Accounts may be made at GBTI, or any of its branches.
Interest will be computed on the Average Daily Balance during the Billing Period. The Average Daily Balance is calculated
by taking the beginning balance each day, adding the value of any Card Transaction that day, subtracting any payments and
credits posted that day; all the Ending Daily Balances for the Billing Period are then totalled and divided by the number of
days in the Billing Period. Interest will be computed at a monthly periodic rate of 2% on the Average Daily Balance for the
Billing Period. This interest rate may be changed by GBTI at any time and from time to time in its sole discretion.
No interest will be payable on any amounts debited to the Credit Card Account if the outstanding balance is paid in full
by the Payment Due date shown on the Principal Cardholder’s current Billing Statement. In default of payment as aforesaid,
interest as set out above will be payable from the date of the Card Transaction until payment in full.
To check the available balance on your Credit Card account,review recent transactions, please call the Card Centre at
1-866-303-3118 or sign up at www.gbtibank.com – just click the link “GBTI VISA” and register your card to get
started.
Where the Credit Card is used to obtain Cash Advances a handling charge of 2% of the amount so obtained or a minimum of
$10.00 whichever shall be the greater, will be payable by the Cardholder to GBTI. Cash Advances shall not exceed the Credit
Card Cash Limit.
(a) An Annual Fee of US$35.00 – in respect of the Credit Card issued to a Principal Classic Cardholder and of US$20.00 –
in respect of each additional Credit Card issued to a Classic Cardholder must be paid whether or not the Credit Card is used.
(b) An Annual Fee of US$50.00 – in respect of the Credit Card issued to a Principal Gold Cardholder and of US$30.00 – in
respect of each additional Credit Card issued to a Gold Cardholder must be paid whether or not the Credit Card is used.
A fee of US$15.00 will be charged in respect of each new Credit Card Account and each new Credit Card issued because of
lost / stolen / damaged Credit Cards.
A fee of US$10.00 will be charged for each PIN replacement.
A returned cheque fee of US$30.00 in respect of each returned cheque will be payable if a payment cheque is returned
due to insufficient funds.
GBTI may in its sole discretion issue an additional Credit Card for the use of any person who is nominated in writing by
the Principal Cardholder as Co-Applicant. The Principal Cardholder shall be liable for the use of the additional Credit Card
as if he had used it himself and for all amounts arising from or losses incurred by GBTI in connection with or arising from
the use of the Credit Card (whether by act or omission) by the Authorized User (including any use in breach of the terms of
this Agreement which GBTI shall be under no duty to prevent) which may be debited to the Credit Card Account in addition to
any of its other powers. GBTI may cancel any Credit Card issued to an Authorized User at any time upon the written request of
the Principal Cardholder and the return of such Credit Card to GBTI or upon the surrender to GBTI of such Credit Card by the
Authorized User.
Notwithstanding anything to the contrary set out elsewhere in this Agreement, GBTI shall have the right in its sole
discretion at any time and from time to time to demand immediate repayment of all monies due to it by the Principal
Cardholder under the terms of this agreement.
GBTI may vary this Agreement and / or these conditions at any time or times in its sole discretion whether or not a
similar amendment is made to the Agreement and / or condition(s) with any other Principal Cardholder(s) provided that at
least 15 days prior notice of any such change is given to the Principal Cardholder and a variation so notified shall be
binding upon the Cardholder (including, for the avoidance of doubt, an Authorized User).
(a) The Principal Cardholder may terminate this Agreement by written notice to GBTI but such termination shall only be
effective when such notice and all Credit Cards issued to the Principal Cardholder and all Cardholders have been returned to
GBTI. (b) GBTI may terminate this Agreement at any time without notice and thereupon cancel or refuse to renew the Credit
Cards issued to the Principal Cardholder and all Cardholders. (c) GBTI may also suspend the use of the Credit Card in the
event of any breach of the terms of this Agreement by either the Principal Cardholder or any Cardholder. (d) Unless and until
termination takes place as provided for in this agreement, GBTI will provide a new Credit Card for each Cardholder from time
to time. (e) These rights are in addition to any other rights or remedies which GBTI may have whether to recover outstanding
debts or otherwise and the Cardholder’s liabilities will continue until such time as all amounts of whatever nature due to
GBTI under this Agreement (including, but not limited to, interest and other charges) have been paid in full.
Any and all disputes between a Cardholder and a Merchant in respect of any Credit Card Transaction shall be resolved by
and between the Cardholder and the Merchant. In the case of such disputes, GBTI shall remain fully indemnified by the
Cardholder in respect of any and all claims arising there from whether by the Merchant or any third party.
The Principal Cardholder shall immediately notify GBTI or any of its Branches in writing of any change of name or address
and provide all supporting documents
If any part of this Agreement is found to be inapplicable/ invalid, the rest remains effective.