Version: November 2018 Page 1 of 6
Bangladesh Electronic Fund Transfer Network
BEFTN
Setup Form
Please Tick Your Choice New Delete Amend
Customer Setup
Company Name: ________________________________________________________________________
Company Address: ______________________________________________________________________
Key Contact Person: ____________________________________________________________________
Section 1 – Customer Information
Company Debit Account No.:_______________________________________________________________
Company Credit Account No.: ______________________________________________________________
Company Charge Deduction Account No.:_____________________________________________________
Section 2 – Account Details
BEFTN Credit BEFTN Debit*
*Direct Debit Instruction (DDI) service documents to be signed as well
Section 3 – BEFTN Transaction Type
Straight2Bak Existing New
Encrypted Transaction File
Paper Instruction
Section 4 – BEFTN Transaction Type TAISEI CORPORATION ATATURK TOWER, FLAT # 11/A (LIFT # 10), 22 KEMAL ATATURK AVENUE, BANANI, DHAKA-1213, BANGLADESH KATSUMI TAMURA
Version: November 2018 Page 2 of 6
Bangladesh Electronic Fund Transfer Network
BEFTN
BEFTN Service Supplement
This Service Supplement (the ‘BEFTN Origination Agreement’) is entered into effective as of the ______ day of ________________, 20___, by
and between ____________________________________________________, (the “Originator”), and Standard Chartered Bank (“Bank”).
Recitals
WHEREAS, the Originator has requested the Bank to permit it to initiate applicable electronic entries (and “Entry” or “Entries”) for payment to
accounts maintained at Bank and other Banks, by means of the Bangladesh Electronic Funds Transfer Network (the “BEFTN”);
and
WHEREAS, Bank is willing to provide such services to Originator in accordance with the terms and conditions contained herein.
NOW THEREFORE, in consideration of the mutual promises contained herein, the sufficiency of which is hereby acknowledged, it is agreed as
follows:
1.
1.1 This Service Supplement sets out the terms on which we will provide you with BEFTN Service.
1.2 This Service Supplement forms part of the Agreement.
1.3 The Standard Terms, Account Terms, Country Supplement, Collections Service Supplement and Straight2Bank Supplement
each as effective or applicable from time to time, are incorporated into this Service Supplement.
1.4 The Attachments mentioned in this Service Supplement form part of this Service Supplement.
2. Definitions and Interpretations
2.1 Definitions
Capitalised terms used but not defined in this Service Supplement have the meanings set out in the Standard Terms or the
BEFTN Rules. “Attachments” means the schedules to and referred to in this Service Supplement.
a. “BEFTN Rules” means the Bangladesh Electronic Funds Transfer Network Operating Rules of the Payment Systems
Division, Department of Currency Management and Payment Systems, Bangladesh Bank, dated 10 August 2010, as
the same may be supplemented, amended or substituted from time to time.
b. “BEFTN Service” means Our service to initiate Entries for payments by electronic fund transfers to or from Your
Accounts by means of the BEFTN.
c. “Rules and Laws” means rules, regulations and laws applicable to the BEFTN, Entries and BEFTN Service. “Service
Supplement” means Our Service Supplement for BEFTN Service and its Attachments.
d. “Entry” shall have the same meaning as defined in the BEFTN Rules.
e. “Originating Banking Company” or “OB” shall have the same meaning as defined in the BEFTN Rules.
f. “Originator” shall have the same meaning as defined in the BEFTN Rules.
g. “Participating Bank” shall have the same meaning as defined in the BEFTN Rules.
h. “Receiver” shall have the same meaning as defined in the BEFTN Rules.
i. “Receiving Banking Company” or “RB” shall have the same meaning as defined in the BEFTN Rules.
j. “BEFTN Guaranteed Credit” means pulling of fund through BEFTN using Straight2Bank between an SCB account
Originator) and a Participating Bank account (Receiver) where credit to Originator’s account is made before receipt of
cleared fund from the Receiver.
k. “BEFTN Non-Guaranteed Credit” means pulling of fund through BEFTN using Straight2Bank between an SCB
account (Originator) and a Participating Bank account (Receiver) where credit to Originator’s account is given
upon receipt of cleared fund from the Receiver.
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BEFTN
2.2 Interpretations
The rules for interpreting the Standard Terms shall also apply to this Service Supplement.
3. BEFTN Service
3.1 This Service Supplement constitutes the BEFTN Originator Agreement between You as the Originator and Us as the
Originating Bank (OB) for BEFTN Service.
3.2 You will comply with all BEFTN Rules, and Rules and Laws. Your specific obligations in the Agreement shall in no way limit
the foregoing undertaking.
3.3 It will be our responsibility to ensure that the transmission of Entries and origination of BEFTN transactions are in compliance
with Rules and Laws.
3.4 For BEFTN Debit transactions, You will obtain written authorizations for Entries in accordance with the BEFTN Rules, and
shall retain the original copy of the same for no less than two (2) years following the termination or revocation of such
authorization. By originating BEFTN transactions through our Network you are confirming that you hold a valid Debit
Authorization from the Receiver and will immediately provide the same upon our request within 5 (five) days from the date of
such request. If you fail to provide the required Debit Authorization within the provided timeline you agree that we will debit your
account and return the amount to the Receiver.
3.5 In case of BEFTN Guaranteed Credit, We shall credit Your account (Originator’s account) subject to availability of an approved
credit line with Us before We have received clear funds from the Receiver. However, if after crediting the fund in Your account We
do not receive clear funds from the Receiver in that case Bank is hereby authorized to debit Your account, even if fund is not
available and the account is overdrawn.
3.6 In case of BEFTN Non-Guaranteed Credit, We shall credit your account as per the BEFTN settlement cycle from the Receiver
through Participating Bank. However, if after crediting the fund in Your account We receive request from the Receiver to return
the fund in that case Bank is authorized to debit Your account, even if fund is not available and the account is overdrawn.
4. Types of BEFTN Debit Transactions
Under Our Direct Debit Instruction (DDI) service the following features are offered for BEFTN Debit transactions.
4.1 Variable – BEFTN transactions are originated through Straight2Bank by you as and when required.
4.2 Fixed - BEFTN transactions are setup as one time standing instructions in our system and auto originated on due dates as per
details provided by You in accordance with the BEFTN authorization received by You from the Receiver.
5. Entries
5.1 Attachments
a. All Entries will be transmitted to us in accordance with the processing schedule in Attachment A (Processing
Schedule).
b. The total amount of Entries sent by the Originator shall not exceed the established limits in Attachment B (Exposure
Limit).
c. The Parties shall comply with the settlement procedures described in Attachment C (Settlement).
d. The Parties shall comply with the security procedures described in Attachment D (Security Procedures). You
acknowledge that the purpose of the security procedures is for verification of file authenticity and not to detect
errors within the transmitted file or individual transactions. No security procedure for detection of any such error has
been agreed upon between the Parties.
e. You shall pay to us amounts in Attachment E (Pricing Schedule) plus applicable taxes, duties, charges and levies.
f. Entries transmitted by us will be reflected in Your Account statement.
5.2 Transmission of Entries
a. We will transmit the Entries initiated by you into the BEFTN and with procedures provided for in this Service
Supplement and in the BEFTN Rules.
b. You will utilize our origination system using BEFTN format or such other format or medium as the parties may
mutually agree upon for the transmittal of Entries to Us.
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BEFTN
5.3 Rejection of Entries
a. In the event that any Entries are rejected by the BEFTN System for any reason, it shall be your responsibility to
remake such entries. We shall have no responsibility to reinitiate any returned entries until you remake such entries in
accordance with the BEFTN Rules.
b. We shall have the right to reject any Entry that does not fully comply with the requirements of this agreement, which
determination shall be made in our sole discretion. In addition, we shall have the right to reject any Entry that is
made while you are in default of any requirements of this agreement, including but not limited to the requirement to
maintain an adequate account balance or line of credit.
5.4 Return of Entries
We will notify you of the receipt of any returned entry or notification of change entry no later than one Business Day after the
Business Day of such receipt. You may reinitiate any returned entry at your discretion, provided the reinitiating is in accordance with
applicable sections of the BEFTN Rules. We will not reinitiate any returned entries automatically
5.5 Originator Error
a. If you discover that any Entry it has initiated was made in error, you must notify us of the error within 24 hours. In
such a case, we will utilize our best efforts to initiate an adjusting entry or stop processing of any such Entry. Should
We be unable to stop the Entry from posting, or if it is too late to withdraw the item from the BEFTN System, You may
initiate a reversal file to correct the Entry, as provided for and abiding by the BEFTN Rules.
b. Should a reversal be created for an individual Entry or Entries, the receiver(s) of the Entries must be notified by you
of the reversal no later than the settlement date of the reversing Entry.
c. Should a reversal be created for a complete file reversal, you must advise us within five (5) Business Days of
settlement.
5.6 Originator Data Retention
You will retain data on file adequate to permit remaking of Entries for ten (10) days following the date of their transmittal by Us,
and shall provide copies of such data to Us upon its request.
6. Limitation of Liability
6.1 In relation to BEFTN Services, Our total liability for any claim for any Losses provided under the Agreement is limited to
the amount recoverable by Us from the BEFTN system operator or any other sub member pursuant to the BEFTN Rules or
any applicable indemnity agreement.
6.2 We will not be liable for any failure or delay in transmission of an entry if such transmission would (1) result in Our having
exceeded any limitation upon Our intra-day net funds position established pursuant to BEFTN Rules, (2) violate any risk
control provisions applicable to Us, or (3) violate any Rules or Laws.
7. Indemnification
7.1 The Originator will indemnify Bank if Bank incurs any financial loss or liability (including attorneys’ fees and associated expenses)
due to the breach, with respect to any Entries initiated by the Originator, of any of the warranties of an Originating Bank contained
in the BEFTN Rules, except those due to the gross negligence of Bank. This includes reimbursement by the Originator to Bank of
any fines imposed on Bank due to breaches of the BEFTN Rules by the Originator.
7.2 The Originator will indemnify Bank against any loss, liability or expense (including attorneys’ fees and associated expenses)
resulting from any claim that Bank is responsible for any act or omission of the Originator or any other person or entity associated
with or affected by the services to be performed hereunder, including but not limited to any receiver, receiving Bank, or any
participating bank.
8. Inconsistency
8.1 If there is any inconsistency between:
a. this Service Supplement and he Application Form for the Service, this Service Supplement prevails;
b. thi s Servic e Supplemen t an d an y o f th e Attachments , th e relevan t Attachmen t prevails ; a n d
c. this Service Supplement and the Account Terms, the Account Terms prevail.
d. this Service Supplement and the Standard Terms, the Standard Terms will prevail.
e. this Service Supplement and the Collections Service Supplement, the Collection Service Supplement will prevail.
e. this Service Supplement and the Straight2Bank Supplement, Straight2Bank Supplement will prevail.
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Bangladesh Electronic Fund Transfer Network
BEFTN
You shall send origination files to us (the Bank) within the times mentioned below. Files received after these times may not be delivered
to the BEFTN Operator for next day settlement.
1. Payroll Credits: All payroll credit origination will be sent to the Bank by 6:00 PM*. Time before the settlement date of the subject
Entries. All files r e c e i v e d a f t e r t h i s cut off time will be processed the following Business Day.
2. Debit Entry: The data file containing debit entry information will b e transmitting to Bank by 5:30 PM* (‘cut off time’). one
Business Day before the settlement date of the subject Entries. All files r e c e i v e d a f t e r t h e cut off time will be
processed the following Business Day.
3. Other Credits: All other credit origination Entries must be submitted by 6:00 PM*. Business Day before the settlement date of
the subject Entries. All files received after this cut off time will be processed the following Business Day.
4. All entries transmitted to us through electronic mail or in hard copies should be signed by your authorized signatory before
being transmitted to us.
* These times may change in accordance with the change in clearing time advised by the Bangladesh Bank or Bank’s own transaction
cut off times. The Bank wills advice the relevant changes to you.
Attachment A – Processing Schedule
Your daily limit for originated credit Entries will be the lesser of Your current balance in Your Account.
Attachment B – Exposure Limit
You will provide immediately available funds to offset any credit entries originated by it before the payment instruction is sent to
Bangladesh Bank PBM (Participating Bank Module Server).
You will receive immediately available funds for any electronic debit entries initiated by it not later than the settlement date
of the items. Provisions may be made for holding accounts to be maintained for posting of any return debit items received,
as stated in this Agreement and abiding by the BEFTN Rules.
You will promptly provide immediately available funds to indemnify Us if any debit items are rejected after We have permitted You
to withdraw immediately available funds, should funds not be available in Your Accounts to cover the amount of the rejected items.
Attachment C – Settlement
You are required to utilize the security procedures for all origination activity.
Where applicable, We will call back the/any of the Authorised Person(s) and will cross match the total amount and total number
of transactions sent through a particular batch.
You are responsible to strictly establish and to maintain procedures to safeguard against unauthorized transactions. You warrant
that no individual will be allowed to initiate transfers in the absence of proper supervision and safeguards, and agree to take
reasonable steps to maintain the confidentiality of the security procedures and any passwords, codes, security devices,
and related instructions provided by Us. If you believe or suspect that any such information has been accessed by an
unauthorized individual, you will verbally notify Us immediately, followed by written confirmation. The occurrence of such
notification will not affect any transfers made in good faith by Us prior to the notification and within a reasonable time period to
prevent unauthorized transfers.
However if the originated file is transmitted to Us through secure means agreed between You and Us will not require a telephone
verification by Us with Your Authorised Person(s) before the files will be released.
Attachment D – Security Procedures
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Bangladesh Electronic Fund Transfer Network
BEFTN
Signed on Behalf of the Originator:
Signature
Name:
Designation:
Signature
Name:
Designation:
Signed on Behalf of Standard Chartered Bank:
Signature
Name:
Designation:
Signature
Name:
Designation:
You agree to compensate Us for providing the services referred to herein at the prices set forth in schedule of charges. The prices contained
therein do not include, and you shall be responsible for payment of, any sales, use, excise, value added, utility or other taxes relating to the
services provided for herein. We may amend this Pricing Schedule at our discretion and any such change shall be notified to you through our
website, Bangladesh Bank website or as may deem fit and proper.
BEFTN Pricing: Free
Attachment E – Pricing Schedule KATSUMI TAMURA POWER OF ATTORNEY
Hiroki HORIKAWA
Hideharu TOYAMA