1. TERMS / SCOPE. The information contained herein together with any further resolutions, instructions and conditions that may be prescribed by the Society from time to time shall constitute the terms of the agreement between the member and Cent Cent SACCO Credit Union. When this application form has been signed, it will be deemed to have been accepted as binding on the member and the Cent Cent SACCO Credit Union representative office or affiliate where the account is held.These conditions apply to each account opened under the Account Opening Form or in any other acceptable manner.
  2. THE ACCOUNT. The Member shall assume full responsibility for the genuineness, correctness and validity of all endorsements appearing on all cheques, orders, bills, notes, negotiable instruments, receipts or other instructions deposited into the accountCent Cent SACCO Credit Union will not be responsible for any loss of funds deposited with it arising from any future Government order, law, levy, tax, embargo, moratorium, exchange restriction or any other cause beyond its control. Your account shall be debited for any service charge that is set by the Society from time to time. All notices or letters will be sent to the physical, postal or electronic address supplied by you and will be considered duly delivered and received at that time it is delivered or seven days after posting.Cent Cent SACCO Credit Union will not be liable for funds handed over to members of its staff other than the Tellers in the Society’s premises or representative office/Affiliates/Agents withthe appropriate deposit slip. Any anomaly in the entries on your Bank statements must be brought to the attention of Cent Cent SACCO Credit Union within 30 days of the date thereof and you agree that the failure to give such notice absolves Cent Cent SACCO Credit Union from all liabilities arising thereof.Cent Cent SACCO Credit Union may exercise its general lien or any similar right it is entitled to including the right to combine and consolidate all or any of the Member’s accounts with theSociety, and the right to set off or transfer any sum or sums standing to the credit of any one or more of such accounts against liabilities in any other account.
  3. DISCLOSURE. The applicant agrees and authorises the Society or the approved credit reference bureau to: a) make enquiries from any bank, financial institution or approved credit reference bureau in Zimbabwe or elsewhere to confirm any information provided by the applicant. b) Seek information from any bank, financial institution or approved credit reference bureau when assessing the Member at any time during the existence of the applicant’s account. c) Disclose to financial clearing bureau, an approved credit reference bureau, information relating to the applicant’s account maintained at Cent Cent SACCO Credit Union.
  4. INSTRUCTION. SCent Cent SACCO Credit Union may rely on the authority of each person designated ( in a form acceptable to Cent Cent SACCO Credit Union) by the Member to send instructions or do any other thing until Cent Cent SACCO Credit Union has received written notice or other notice acceptable to it of any change from a duly authorized person and Cent Cent SACCO Credit Union has had a reasonable time to act (after which time it may rely on the change).Each of the Member and Cent Cent SACCO Credit Union will comply with certain agreed security procedures designed to verify the origination of instructions between them such as enquiries,advices and instructions.Cent Cent SACCO Credit Union is not obliged to do anything other than what is contained in the procedures to establish the authority or identity of the person sending an instruction. Cent Cent SACCO Credit Union is not responsible for errors or omissions made by the Member of the duplication of   any instruction by the Member and may act on any instruction by reference to an account number only, even if an account name is provided. Cent Cent SACCO Credit Union may act on an instruction if it reasonably believes it contains sufficient information.Cent Cent SACCO Credit Union may decide not to act on an instruction where it reasonably doubts its contents, authorization, origination or compliance with the procedures and will promptlynotify the Customer (by telephone if appropriate) of its decision.If the Customer informs Cent Cent SACCO Credit Union that it wishes to recall, cancel or amend an instruction, Cent Cent SACCO Credit Union will use its reasonable efforts to comply.If  Cent Cent SACCO Credit Union acts on my instruction sent by any means requiring manual intervention (such as telephone, telex, electronic mail or disks sent by messenger) then, if CentCent SACCO Credit Union complies with the procedures, the Customer will be responsible for any loss Cent Cent SACCO Credit Union may incur in connection with that instruction.
  5. INTEREST FEES AND OTHER CHARGES. You will be liable for the payment of interest charges at the rate fixed by Cent Cent SACCO Credit Union from time to time for any outstanding debit on your account. Your account may also bedebited for the Cent Cent SACCO Credit Union’s usual banking charges, interest, commission etc. Unless otherwise agreed, Cent Cent SACCO Credit Union may modify at any time the rate of interest, fees, or other amounts applicable to any account or service (but subject to any legal requirement as to notice).
  6. FORCE MAJEURE. Neither the Member nor Cent Cent SACCO Credit Union will be responsible for any failure to perform any of its obligations with the respect to any account if such performance would resultin it being in breach of any law, regulation or other requirement of any government or other authority in accordance with which it is required to act or if its performance is prevented, hindered or delayed by a Force  Majeure Event; in such case its obligations will be suspended, for so long as the force   Majeure Event continues (and, in the case of Cent Cent SACCO Credit Union, no other representative office or affiliate shall become liable). “Force Majeure Event” means any event due to any cause beyond the reasonable control of the relevant party, such as restrictions on convertibility or transferability, requisition, involuntary transfers, unavailability of any system, sabotage, fire, flood, explosion, acts of God, civil commotion, strikes or industrial action of any kind, riots, insurrection, war or acts of government.
  7. SHARING INFORMATION. Cent Cent SACCO Credit Union will treat information relating to the Member as confidential, but the Member consents to the transfer and disclosure by Cent Cent SACCO Credit Unionof  any  information    relating  to  the Member to and between the representative offices, affiliates and agents of Cent Cent SACCO Credit Union and third parties selected by any of them,whenever situated, for confidential use (including in connection with the provision of any service and for data processing, statistical and risk analysis purposes). Cent Cent SACCO Credit Unionand any representative office, affiliate, agent or third party may transfer and disclose any such information as required by any law, court, regulator or legal process.
  8. ELECTRONIC MONITORING OR RECORDING. The Member and Cent Cent SACCO Credit Union consent to telephone or electronic monitoring or recording for security and quality of service purposes and agree that either may producetelephonic recording, computer records or CCTV footage as evidence in any proceedings brought in connection with these conditions.
  9. CHANGE OF MANDATE. The Member must notify Cent Cent SACCO Credit Union immediately of any change in the address, directors, committee members, trustees, designated members, secretaries etc. Anymodification of change in authorized signatories must be signed in accordance with the existing mandate and accompanied by a resolution to that effect.
  10. TERMINATION. Either party may terminate this agreement at any time (but subject to any legal requirements as to notice) by notifying the other writing.On closure of an account, the termination becomes effective after any cheque drawn on the account or outstanding on it have been paid ; all debit cards and internet or mobile banking tokens  issued  to  you  have  been  sent  back  to  the  Society;  and  all  information  and equipments supplied by Cent Cent SACCO Credit Union have been returned to Cent Cent SACCOCredit Union.Where Cent Cent SACCO Credit Union is terminating the agreement and your account is overdrawn, you must pay all sums outstanding on the account otherwise the Cent Cent SACCO CreditUnion may take appropriate legal action for recovery.
  11. JURISDICTION. In relation to any account, these conditions are governed by the laws of Zimbabwe.
  12. DISCLAIMER CLAUSE. The Society disclaims liability for any funds/ assets deposited by you which are subsequently found to have derived from illegal source or activities.You confirm that the funds / assets deposited are not derived from any illegal source or activities