5.1 International/foreign transfers (non-US recipients) of foreign currency and foreign currency initiated and approved on the deadline set out in Appendix A on a business day will be processed on the same day if that date is also a business day for the Bank`s correspondence facility and the receiving bank. Transfers initiated and approved after the cut-off time set out in Annex A for international transfers will be processed on the next business day if that day is also a business day for the Bank`s correspondence facility and the receiving bank. Standard delivery times of the international remittance industry (in most, but not all, two (2) business days) may be subject to delays due to time zone issues; the remote location of the receiving bank; cultural differences in terms of holidays and observation time, etc.; and incorrect or incomplete information provided by the customer. 12.1 The Client shall indemnify the Bank for the Service, if any and as specified in the Bank`s Fee Schedule, which is attached to this Annex as Annex D. As part of each transfer, the customer also pays the online transfer fee in effect at the time of the transfer to the bank. The Bank is entitled to deduct its costs from this Agreement from any deposit account of the Client. 5.2 The Client acknowledges that transfers in foreign currencies must be based on a currency that the Bank negotiates and that all exchange rates are subject to the rate agreed by the parties at the time of execution of the transfer order or any other rate agreed by the parties. If the financial institution designated to receive the funds does not pay the specified recipient in a transfer order payable in foreign currency and the funds are returned to the bank, the bank will not be responsible for any amount exceeding the value of the funds after they are converted from foreign currencies in the United States. dollars at the bank`s purchase rate for foreign exchange at the time of confirmation of the cancellation of the transfer order by the bank, less any fees and expenses incurred by the bank.
If the Client chooses to initiate an international transfer in US currency, the Client acknowledges that the Receiving Bank may choose to pay the Beneficiary in foreign currency at an exchange rate set by the Receiving Bank. The Customer undertakes to bear the full risk of loss due to exchange rate fluctuations and the Customer must pay the Bank all foreign currency conversion fees and expenses at the applicable rates and conditions of the Bank. The Customer is informed that the bank`s current exchange rates may be less favorable to the Customer than the market exchange rates. 20. Compliance. Customer shall comply with all applicable laws, rules and regulations related to the Service. Client agrees to be bound by these rules and agrees not to initiate or receive any transfer request or related instructions that violate international, federal, state and local laws and regulations, including but not limited to those issued by the Office of Foreign Asset Control („OFAC“). To the extent permitted by applicable law, the Client shall be liable for all reasonable fines, revisions and attorneys` fees incurred or imposed on the Bank as a result of any breach or breach of these Rules caused or attributable to the Client.