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General Provisions

Exchange rates and fee tariffs

1. Prices for services not listed in the Tariff of Fees are stipulated by special agreement between Czech Export Bank (hereinafter only „CEB“) and the client.

2. Apart from fees and charges for services listed in the Tariff of Fees, CEB will also charge the client any eventual costs charged by other banks or other persons in connection with the operation carried out for the client, unless agreed otherwise. Further procedures are subject to the provisions of points 5 and 6 to a reasonable extent.

3. Fees charged in connection with funds transfers include the fees of CEB and of intermediary banks. These fees are paid according to the payer´s choice. Selecting BEN means that the fees of CEB and the intermediary banks are paid by the payment recipient. Selecting SHA means that the payer wishes the CEB client to pay only the CEB fees, and selecting OUR means that the  payer will pay the CEB fees as well as the fees of the intermediary banks.

4. CEB is entitled to obtain all materials considered essential to provide services to the client (account owner) at the client´s expense. The client is obligated to pay such costs by the date given in the billing from CEB.

5. The prices for services and the fees given in the Tariff of Fees are stipulated in CZK. Prices for services, fees and costs are paid in CZK, in the currency of the payment or in the currency of the account that the applicable payment has been credited to or debited from. To convert the prices for services, fees and costs stipulated in CZK into the applicable currency, the current CEB exchange rate Buy valid on the date of re-invoicing is used.

6. The payment of prices for services, fees and costs is carried out through a cashless transfer of an amount corresponding to the price for the provided services; if the client has a current account with CEB, through setting off the CEB claim relating to the payment of the price for the services against the client´s claim relating to the payment of funds from the account with CEB. For this purpose the client will maintain a minimum balance of CZK 1,500 or the amount given in the current account contract.

In the event that the client does not have a current account with CEB or if it is not possible to set off the claims, the client will pay CEB the price for the services, fees and costs on the basis of a billing  in a time frame and in the manner given in the billing, or through a reduction of  the interest or principal paid out by an amount corresponding to the price for the services, fees and costs (to the setting off of the CEB and client claims applies the information given above).

7. The Bank is obliged to issue payment document to the client upon his request if this information is not obvious from the document on provided payment service.

8. To convert one currency into another for a single client (currency conversion as part of incoming and outgoing payments) the Buy and Sell rates given on the CEB exchange rate list valid on the day of the conversion, i.e. on the day the transfer is made from the client´s account or the day a payment is credited to the client´s account (hereinafter only the „CEB Rate“), is proceeded as follows:

a) Payments in CZK from a foreign currency account are converted using the „Foreign CurrencyBuy“ CEB Rate;

b) Payments in a currency other than CZK from a CZK account are converted using the „ Foreign CurrencySell“ CEB Rate;

c) Payments in a currency other than CZK from an account in a currency other than CZK are converted using the „ Foreign CurrencySell“ CEB Rate into CZK and the „ Foreign CurrencyBuy“ CEB Rate to the currency of the account;

d) Payments in CZK credited to a foreign currency account are converted using the „ Foreign CurrencySell“ CEB Rate;

e) Payments in a currency other than CZK credited to a CZK account are converted using the „ Foreign CurrencyBuy“ CEB Rate;

f) Payments in a currency other than CZK credited to a foreign currency account are converted using the „ Foreign CurrencyBuy“ CEB Rate to CZK and the „ Foreign CurrencySell“ CEB Rate to the currency of the account.

9. The Tariff of Fees for services provided by CEB is published at the CEB registered offices and on the CEB website.

10. The prices for services subject to value-added tax are listed without this tax. Pursuant to the provisions of Section 51 of Act No. 235/2004 Coll. on value-added tax, as amended, services provided within the scope of this regulation are considered as financial activities exempt from value added tax without the right to a tax deduction, with the exception of part D, Other Banking Services, point 2, which are subject to value-added tax.

11. The Tariff of Fees becomes effective on 1 July 2014 and replaces the Tariff of Fees of 25 July 2013.

*Tariff of Fees for services provided by CEB effective as of 1.7.2014 is available in PDF-format here: 

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