|
|
1.1 "DIFC" means the Dubai International Financial
Centre.
|
|
1.2 "Relevant Emirate" means the Emirate of the
United Arab Emirates in which the branch office of UAB through which UAB is acting
in connection with the applicable UAB customer is located.
|
|
1.3 Terms and Conditions has the meaning set out in Clause
2.1.
|
|
1.4 "UAB" means United Arab Bank P.J.S.C.
|
|
1.5 "UAB Rewards Earning Table" has the meaning
set out in Schedule B.
|
|
1.6 "UAB Records" means all UAB’s customer account
information, data and other records relating to its UAB Rewards Accountholders in
electronic or physical form.
|
|
1.7 "UAB Rewards" means the rewards programme
established by UAB and subject to these Terms and Conditions.
|
|
1.8 "UAB Rewards Account" means the account reflecting
all transactions relating to UAB Rewards for a particular UAB Rewards Accountholder
in UAB’s records, including earned UAB Rewards Points, adjusted UAB Rewards Points,
bonus UAB Rewards Points, redeemed UAB Rewards Points and expired UAB Rewards Points.
|
|
1.9 "UAB Rewards Accountholder" means, in relation
to each UAB Rewards Relationship, the customer or proposed customer and, where there
is more than one person comprising the customer, the first named signatory holding
such relationship.
|
|
1.10 "UAB Rewards Booking Policy" means the booking
policy to redeem UAB Rewards Points as published from time to time on the UAB Rewards
Website.
|
|
1.11 "UAB Rewards Points" has the meaning set
out in Clause 4.1.3.
|
|
1.12 "UAB Rewards Rate" means the financial value
expressed as a percentage as calculated by dividing the number of UAB Rewards Points
earned in respect of each one hundred (100) Dirhams of value credited to a UAB Rewards
Relationship or UAB Rewards Transaction.
|
|
1.13 "UAB Rewards Relationship" means one or more
of the UAB products and services listed in Schedule A and Schedule B each of which
is eligible for inclusion in UAB Rewards and with such further conditions and as
more particularly described on the UAB Rewards Website.
|
|
1.14 "UAB Rewards Statement" has the meaning set
out in Clause 5.1.
|
|
1.15 "UAB Rewards Transaction" has the meaning
set out in Clause 4.1.2.
|
|
1.16 "UAB Rewards Website" means the UAB website
at www.uabrewards.ae, which is managed and operated on behalf of UAB by Infinia
Services and Solutions FZ LLC or such other manager and operator as UAB may appoint
from time to time.
|
|
|
|
|
2.1 The terms and conditions set out in this document ("Terms
and Conditions") are applicable to UAB Rewards and, by becoming a UAB Rewards
Accountholder, the UAB Rewards Accountholder agrees to be bound by the Terms and
Conditions, as the same may be amended, supplemented, updated, replaced or otherwise
varied by UAB from time to time and the UAB Rewards Accountholder represents and
warrants that you are aged at least 18 years.
|
|
2.2 All determinations of opinion
or fact to be made by UAB under these Terms and Conditions shall be made by UAB,
at its absolute discretion and, in the case of facts, on the basis of UAB Records,
and each such determination shall be final, conclusive and binding on the UAB Rewards
Accountholder, save in the absence of manifest error made known to UAB by
the UAB Rewards Accountholder in accordance with the time limit set out in Clause
5.2.
|
|
2.3 UAB reserves the right, at any time, at its absolute discretion,
without notice and without liability whatsoever on its part, to supplement, amend,
replace, delete or otherwise vary any of the Terms and Conditions, including the
Schedules, as well as the terms and conditions of any other policy referred to in
the Terms and Conditions, and to change, vary, modify, terminate or cancel UAB Rewards
or any of its benefits or features, or otherwise do any other act with respect to
the whole or any part of UAB Rewards, or to withdraw or change the membership criteria
and/or to limit or change the value / validity of UAB Rewards and/or the manner
of redemption on, UAB Rewards, . By becoming a UAB Rewards Accountholder, UAB Rewards
Accountholder acknowledges and accepts that the above acts may diminish the redemption
value of UAB Rewards Points already earned and agrees that he/she shall not be entitled
to claim compensation for any such loss in value.
|
|
2.4 By becoming a UAB Rewards Accountholder, the UAB Rewards Accountholder
acknowledges and agrees:
|
|
2.4.1 that the Terms and Conditions, as well as other information
regarding UAB Rewards, are published and may be accessed online at www.uabrewards.ae;
and
|
|
2.4.2 to keep updated with the most up-to-date and current version.
|
|
2.5 In addition to these Terms and Conditions, each UAB Rewards
Accountholder continues to be subject to the General Terms and Conditions of Account
Opening and the terms and conditions applicable to the relevant UAB product which
made him/her eligible for participation in UAB Rewards, including without limitation,
personal loan, car loan, mortgage loan, investment products, bancassurance, credit
card, debit card, current account, savings account, fixed deposit, electronic transaction
channels and such other terms and conditions as may be included by UAB from time
to time, which are incorporated by reference herein and copies of which shall be
provided to the UAB Rewards Accountholder upon request.
|
|
2.6 To the extent that there is any conflict between the general
terms and conditions contained in this document, excluding those documents incorporated
by reference into this document, and any other specific additional terms and conditions
relating to UAB Rewards:
|
|
2.6.1 the specific additional terms and conditions shall prevail
over the general terms and conditions; and
|
|
2.6.2 the terms and conditions incorporated by reference into this
document (e.g. the UAB Rewards Earning Table) shall prevail over this document.
|
|
|
|
|
3.1 Membership of UAB Rewards is automatic for each UAB customer
holding a UAB Rewards Relationship and who is in good standing and otherwise not
in breach of any terms and conditions relating to such UAB Rewards Relationship
as determined by UAB.
|
|
3.2 Membership of UAB Rewards is limited to the primary (i.e. first
named) customer accountholder. Membership qualifies the UAB Rewards Accountholder
to benefit from special offers and promotions which may be provided by UAB from
time to time, provided that the UAB customer is in good standing and there has been
satisfactory conduct on the customer’s account, each as determined by UAB.
|
|
3.3 Membership of UAB Rewards is also limited to those UAB Rewards
Accountholders which have an active UAB credit card as determined by UAB.
|
|
3.4 Membership of UAB Rewards is non-transferable.
|
|
3.5 In the case of joint or multiple holders of a UAB Rewards Relationship,
all authorisd signatories will be automatically enrolled on UAB Rewards. However,
the use and redemption of UAB Rewards Points shall only be available to the primary
(i.e. first named) UAB Rewards Relationship signatory as per UAB Records and is
limited as described in the Terms and Conditions. However, each UAB Rewards Accountholder
will accrue UAB Rewards Points with respect to his or her related accounts or services
to be credited to the UAB Rewards Account. Each UAB Rewards Account is identified
by the Customer Identification (CIF) Number of the primary (i.e. first named) UAB
Rewards Relationship signatory as established by UAB Records.
|
|
3.6 In the event that a customer account signatory (ies) or a supplementary
cardholder(s) is/are removed from the relevant UAB Rewards Relationship, then such
signatory (ies) or supplementary cardholder(s) is/are no longer eligible to participate
in UAB Rewards.
|
|
3.7 UAB reserves the right, at any time, at its absolute discretion,
without notice and without liability whatsoever on its part, to withdraw or discontinue
any one or more of the UAB Rewards Relationships or UAB Rewards Transactions and
terminate membership on UAB Rewards and revoke any accrued UAB Rewards Points.
|
|
3.8 UAB reserves the right, at any time, at its absolute discretion,
without notice and without liability whatsoever on its part, to block access to
the UAB Rewards Account in case of unsatisfactory conduct of the account or relationship
of the primary (i.e. first named) UAB Rewards Relationship holder as determined
by UAB.
|
|
3.9 Membership of UAB Rewards is automatically terminated upon
the death, bankruptcy, or unsatisfactory conduct of the account or relationship
of the primary (i.e. first named) UAB Rewards Relationship holder as determined
by UAB.
|
|
3.10 Upon termination of membership, all UAB Rewards Points accrued
in the UAB Rewards Account shall be immediately forfeited and cancelled by UAB.
UAB may also delete the terminated UAB Rewards Account on the UAB Rewards Website.
|
|
|
|
|
4.1 UAB shall determine, from time to time, at its absolute discretion:
|
|
4.1.1 which UAB Rewards Relationships (including, without limitation,
personal loan, car loan, investment products, bancassurance, current / savings account,
fixed deposit, debit card or credit card, mortgage loan and electronic channels);
|
|
4.1.2 which UAB debit card and credit card transactions (each a
"UAB Rewards Transaction") are eligible for inclusion in UAB Rewards;
|
|
4.1.3 how many UAB Rewards points ("UAB Rewards Points")
will be earned in respect of each UAB Rewards Transaction and/or each UAB Rewards
Relationship;
|
|
4.1.4 the applicable limits on the required monthly earnings of
the relevant UAB Rewards Accountholder; and
|
|
4.1.5 the number of UAB Rewards Points required for redemption of UAB Rewards.
|
|
4.2 In case of a reversal of any UAB Rewards Transaction, UAB Rewards
Points credited to the UAB Rewards Account as a result of such UAB Rewards Transaction
will be deducted from the accrued UAB Rewards Points credit balance. Debits to the
UAB Rewards Account unrelated to any reversed UAB Rewards Transaction will reduce
the accrued UAB Rewards credit balance as per the calculation criteria set out for
a particular UAB Rewards Relationship.
|
|
4.3 UAB from time to time and, at its absolute discretion, may
decide that no UAB Rewards Points may be earned during a promotion, special offer
or other black-out period or through the redemption of any UAB Rewards Points.
|
|
4.4 Pursuant to Clause 4.1, UAB Rewards Points are earned for each
UAB Rewards Relationship or UAB Rewards Transaction subject to UAB Rewards earning
criteria, and no UAB Rewards Points shall be awarded retroactively. Schedule B
sets out the list of further conditions attached to the earning of UAB Rewards Points
in relation to each type of UAB Rewards Relationship or UAB Rewards Transaction.
UAB Rewards Points are calculated by rounding down the transaction value to the
nearest integer.
|
|
4.5 UAB Rewards Points are not assignable or otherwise transferable,
and are not capable of being mortgaged, charged or pledged. UAB Rewards Points of
one UAB Rewards Accountholder cannot be combined with those of another UAB Rewards
Accountholder.
|
|
4.6 In the event of a change to the status of a UAB Rewards Relationship
(such as an upgrade or downgrade), the future calculation of UAB Rewards Points
shall be adjusted by UAB accordingly.
|
|
4.7 UAB Rewards Points are valid only for a period of three (3)
years from the start of the month during which such UAB Rewards Points are earned.
Unless used prior to the expiration date, UAB Rewards Points shall expire on such
date. Upon expiration, unused UAB Rewards Points will be removed from the UAB Rewards
Account as of the expiration date and cannot be re-credited. It is the UAB Rewards
Accountholder's responsibility to be aware of both the number of UAB Rewards Points
outstanding in his account and their expiration date. This can be monitored at any
time online on the UAB Rewards Website.
|
|
4.8 UAB from time to time and, at its absolute discretion, may
allow a UAB Rewards Accountholder to purchase UAB Rewards Points at a rate determined
by UAB. These UAB Rewards Points shall have the same value and benefits as any other
UAB Rewards Points issued under UAB Rewards.
|
|
4.9 If a UAB Rewards Accountholder has any outstanding liability
to the Bank on any product linked to his/her UAB Rewards Account, which is thirty
(30) days or more past due, then such UAB Rewards Accountholder shall not be entitled
to redeem any UAE Rewards until (a) the outstanding liability has been settled in
full and (b) a further period of thirty (30) days has elapsed during which any further
payments due on his/her account have been made on or before their due date.
|
|
4.10 If a UAB Rewards Accountholder has any outstanding liability
to the Bank on any product linked to his/her UAB Rewards Account, which is ninety
(90) days or more past due, then UAB shall be entitled, at its absolute discretion
and without any further notice, to cancel any welcome bonus UAB Rewards credited
to such UAB Rewards Accountholder which have not been redeemed. In the event that
such UAB Rewards Accountholder has already redeemed in full its UAB Rewards, the
Bank shall be entitled, at its absolute discretion and without any further notice,
to charge the credit card of such UAB Rewards Accountholder with the financial value
of such redeemed UAB Rewards at the applicable UAB Rewards Rate at the relevant
time.
|
|
|
|
|
5.1 A record of UAB Rewards activity for each UAB Rewards Accountholder
will be mailed electronically or otherwise made electronically available in the
form of an electronic or online statement ("UAB Rewards Statement")
to the UAB Rewards Accountholder on a regular basis, the regularity to be determined
by UAB. UAB Rewards Points shall be transferred on a periodic basis as per the UAB
Rewards Relationship or UAB Rewards Transaction activity into the UAB Rewards Account
for the purpose of accruing UAB Rewards Points. All the UAB Rewards Points shall
accrue and expire as described in these Terms and Conditions and any additional
terms and conditions contained in the UAB Rewards Statement. A UAB Rewards Accountholder
may access a copy of his/her UAB Rewards Statement online on the UAB Rewards Website.
|
|
5.2 Any manifest error in the UAB Rewards Statement must be reported
to UAB within fourteen (14) days of the UAB Rewards Statement date.
|
|
|
|
|
6.1 Provided that the UAB Rewards Relationship is active and in
good standing as determined by UAB, and subject to the approval of UAB, UAB Rewards
Points may be redeemed (i) in exchange for air tickets, hotel stays or other specific
merchandise, as may be published from time to time on the UAB Rewards Website, if
available for purchase, (ii) in exchange for vouchers for any of the items of merchandise
mentioned in (i) above, (iii) to offset any specified UAB fees and/or charges applicable
to the UAB Rewards Accountholder as determined by UAB or (iv) in any other manner
as determined by UAB.
|
|
6.2 Only UAB Rewards Points that are registered in and credited
to the UAB Rewards Account, at the time of redemption, are eligible for redemption
as determined by UAB in accordance with the UAB Records and, in the absence of manifest
error, will be eligible for redemption.
|
|
6.3 The redemption of UAB Rewards Points by each UAB Rewards Accountholder
is effected by logging onto and using the UAB Rewards Website. Any instructions
conveyed by the UAB Rewards Accountholder will be governed by the terms and conditions
of the respective mode of redemption. UAB may, at its absolute discretion, act upon
the instructions received through these modes of redemption.
|
|
6.4 In the case of joint or multiple UAB Rewards Relationship holders,
only the primary (i.e. first named) signatory is eligible to redeem UAB Rewards
Points. Additional UAB Rewards Points, however, may be purchased for a non-refundable
fee if made available and agreed by UAB.
|
|
6.5 In the case where UAB Rewards Points are subtracted from the
UAB Rewards Account and it reduces or eliminates the accumulated UAB Rewards Points
resulting in a negative UAB Rewards Account balance, UAB may, at its absolute discretion,
either suspend delivery of the UAB Rewards or permit the delivery of the UAB Rewards
and either debit the equivalent cash value of the negative balance (at a rate determined
by UAB) or use any subsequently accrued UAB Rewards Points to offset the negative
UAB Rewards Account balance until such balance has returned to zero or positive.
|
|
6.6 UAB Rewards Points redemptions are always subject to UAB’s
approval, UAB’s terms and conditions for the relevant UAB Rewards, the availability
of the UAB Rewards at the time the redemption is requested, and any restrictions
imposed by any supplier or issuer of the good or services the subject of the UAB
Rewards. At any time and at its absolute discretion, UAB may, without notice or
liability, cancel the UAB Rewards order and substitute the UAB Rewards with another
of comparable nature and value as determined by UAB.
|
|
6.7 Details of the UAB Rewards are set out on the UAB Rewards Website.
Reasonable efforts have been made to ensure that the information contained in the
UAB Rewards Catalogue for Goods and Services is accurate. UAB is not responsible,
and shall not be held responsible, for any errors, inaccuracies or omissions appearing
therein.
|
|
6.8 Redemption of air tickets, hotel stays and other merchandise
and or the issue of vouchers for the same at or from UAB’s authorised merchants
are subject to the terms and conditions as may be prescribed by the issuer or supplier
thereof from time to time.
|
|
6.9 Once issued, redemption of air tickets, hotel stays and other
merchandise and vouchers are not exchangeable, returnable, refundable, or redeemable
for cash or credit, nor will they be replaced in the event of loss, damage or destruction.
Once submitted, an order for a redemption of air tickets, hotel stays or other merchandise
or a voucher cannot be cancelled, revoked, transferred or changed by the UAB Rewards
Accountholder in any manner.
|
|
6.10 Redemption of air tickets, hotel stays and other merchandise
or the issue of vouchers for the same are sent to the UAB Rewards Accountholder’s
email ID or billing address in UAB Records. If the UAB Rewards Accountholder wishes
to have them sent to a different email ID or delivery address, the email ID or delivery
address contained in the UAB Rewards Accountholder’s account profile on the UAB
Rewards Website must be updated prior to redeeming any UAB Rewards Points. UAB will
not be responsible for any redemption of air tickets, hotel stays or other merchandise
or the issue of a voucher sent to the wrong email ID or delivery address or returned
as a result of the UAB Rewards Accountholder’s failure to update his/her account
profile information on the UAB Rewards Website.
|
|
6.11 Should the goods or services the subject of a UAB Rewards
be received in a damaged or defective condition, the UAB Rewards Accountholder must
notify the relevant supplier of such damage or defect within the stipulated number
of days as mentioned in the purchase receipt. UAB shall use its reasonable efforts
to convey the UAB Rewards Accountholder’s complaint to the supplier and arrange,
whenever possible, for an appropriate replacement of comparable nature and value
as determined by UAB. Notwithstanding the foregoing, UAB shall not be held responsible
in any manner whatsoever for damaged or defective goods or services the subject
of a UAB Rewards.
|
|
6.12 UAB is entitled at any time, at its absolute discretion and
without further notice, to adjust the UAB Rewards Rate. Any upwards adjustment will
reduce the financial value cost to a UAB Rewards Accountholder of redeeming UAB
Rewards. Any downwards adjustment will increase the financial value cost to a UAB
Rewards Accountholder of redeeming UAB Rewards.
|
|
|
|
|
All UAB Rewards Points of a UAB Rewards Accountholder shall be forfeited and shall
be cancelled immediately and no additional or unprocessed redemption requests of
UAB Rewards Points shall accrue in the UAB Rewards Account in the following circumstances
each as determined by UAB: (a) the UAB Rewards Relationship has been closed or is
not in good standing; (b) breach of any of these Terms and Conditions and/or any
other terms and conditions expressly incorporated by reference in these Terms and
Conditions; or (c) any other material event or circumstance exists.
|
|
|
|
|
8.1 UAB shall not be liable for losses, damages, expenses, claims
or any other liability whatsoever, whether direct, indirect, consequential, incidental,
special or punitive, sustained by a UAB Rewards Accountholder as a result of the
availability, non-availability, maintenance or operation of the UAB Rewards Website,
the redemption of UAB Rewards Points, the possession and/or use of a UAB Rewards,
or in any other way arising from membership in, or in connection with, UAB Rewards,
nor shall UAB be responsible or held liable for any amounts payable by a UAB Rewards
Accountholder to any third party arising out of the purchase, supply, quality, installation,
use or otherwise, of a UAB Rewards, or of any negligence, breach of statutory or
other duty on the part of UAB, any supplier, issuer, merchant and/or other person
associated in any way, directly or indirectly, with UAB Rewards.
|
|
8.2 UAB makes no representation and provides no warranty whatsoever,
expressed or implied, and undertakes and assumes no liability whatsoever, in respect
of the quality of any goods or services the subject of UAB Rewards or their suitability
or fitness for any use or purpose. All goods or services the subject of UAB Rewards
shall be accepted by the UAB Rewards Accountholder at his/her own risk and peril.
|
|
8.3 UAB is not responsible for any disputes involving UAB Rewards
or any other aspect of UAB Rewards between joint signatories or multiple persons
holding the relevant UAE Rewards Relationship. Any personal liability arising out
of the delivery or use of UAB Rewards is solely the responsibility of the UAB Rewards
Accountholder and any other holders of the relevant UAE Rewards Relationship.
|
|
|
|
|
9.1 In the event of a breach by a UAB Rewards Accountholder of
these Terms and Conditions or of any applicable provisions in any terms and conditions
incorporated by reference in these Terms and Conditions, or in the event of the
failure on the part of a UAB Rewards Accountholder to pay for any outstanding amounts
due to UAB within the prescribed time set by UAB or for any other reason whatsoever,
UAB reserves the right, at its absolute discretion, to:
|
|
9.1.1 terminate the UAB Rewards Accountholder’s membership
on UAB Rewards and close his/her UAB Rewards Account;
|
|
9.1.2 refuse to award any future UAB Rewards Points;
|
|
9.1.3 withdraw any UAB Rewards Points earned; and/or
|
|
9.1.4 refuse to permit the redemption of any UAB Rewards Points.
|
|
9.2 Such action by UAB in respect of a UAB Rewards Accountholder
may result, in UAB’s absolute discretion, in the forfeiture of all of the
UAB Rewards Accountholder’s UAB Rewards Points and any UAB Rewards purchased
and unused.
|
|
|
|
|
10.1 These Terms and Conditions are governed by the laws of the
United Arab Emirates.
|
|
10.2 These Terms and Conditions, and any non-contractual obligations
arising out of or in connection with these Terms and Conditions, will be governed
by the laws of the Relevant Emirate and, to the extent applicable in the Relevant
Emirate, the federal laws of the UAE.
|
|
10.3 The courts of the Relevant Emirate or the courts of the Dubai
International Financial Centre ("DIFC") have non-exclusive jurisdiction to settle
any dispute arising out of or in connection with these Terms and Conditions.
|
|
10.4 The courts of the Relevant Emirate or the courts of the DIFC
are the most appropriate and convenient courts to settle any dispute in connection
with these Terms and Conditions. Each UAB customer agrees not to argue to the contrary
and waives objection to those courts on the grounds of inconvenient forum or otherwise
in relation to proceedings in connection with these Terms and Conditions.
|
|
10.5 Clauses 10.3 and 10.4 are for the benefit of the Bank only.
To the extent allowed by law, the Bank may take:
|
|
10.5.1 proceedings in any other court; and
|
|
10.5.2 concurrent proceedings in any number of jurisdictions.
|
|
10.6 Any reference in Clauses 10.2 and 10.3 to a dispute in connection
with these Terms and Conditions includes any dispute as to the existence, validity
or termination of these Terms and Conditions.
|
|
SCHEDULE A
|
UAB Rewards Relationship*
|
|
Salary Accounts – where the monthly salary is AED 5,000 or
more;
|
|
Debit Card or Credit Card issued by UAB; or
|
|
Any other banker customer relationship as determined by UAB from time to time.
|
|
|
* The UAB Rewards earning table (the "UAB Rewards Earning Table")
will be mailed electronically and/or published on the UAB Rewards Website, and may
be amended, supplemented, updated, replaced or otherwise varied from time to time
by UAB, at its absolute discretion without notice. The UAB Rewards Earning Table
sets out the specific terms and conditions relating to each UAB Rewards Relationship
and each UAE Rewards Transaction and such table, terms and conditions shall be incorporated
by reference into, and shall constitute an integral part of, these Terms and Conditions.
|
|
SCHEDULE B
|
For Debit Cards
|
No UAB Rewards Points shall be earned for UAB debit card transactions on domestic
ATM withdrawals and related to the following: (a) fees, charges and interest; (b)
transactions that UAB determines, in its absolute discretion, are disputed, erroneous,
unauthorised, illegal and/or fraudulent; and (c) any other transactions that UAB
may include on this list from time to time.
|
|
For Credit Cards
|
No UAB Rewards Points shall be earned for UAB credit card transactions related to
the following: (a) fees, charges and interest; (b) any payments or amounts deposited
or credited to the card account (c) transactions that UAB determines are disputed,
erroneous, unauthorised, illegal and/or fraudulent; and (d) any other transactions
that UAB may include on this list from time to time.
|
|
For Payroll (on monthly salary transfer of AED 5,000 or more)
|
UAB Rewards Points will be credited to the UAB Rewards Account upon receipt of monthly
salary. The amount of the salary against which UAB Rewards Points can be earned
will be at the absolute discretion of UAB and may not include allowances, bonuses,
reimbursements and other similar salary credits.
|
|
For Bonus UAB Rewards
|
Bonus UAB Rewards will be awarded to a UAB Rewards Accountholder for different promotions
and offers published by UAB from time to time. Bonus UAB Rewards will be awarded
to UAB credit cardholders upon successful payment of the UAB Rewards fee as determined
by UAB. UAB shall also award additional bonus UAB Rewards at its absolute discretion,
the inception and commencement of which shall be intimated by prior notification
to UAB Rewards Accountholders under generally accepted modes of communication as
determined by UAB from time to time. Bonus UAB Rewards on credit cards are only
applicable in the first year of the credit card relationship and for payroll – salary
transfer is applicable only on the first salary transfer to UAB.
|
|
Claw-Back Following Salary Transfer or Cancellation of UAB Credit Card
|
In the event that a UAB Rewards Accountholder:
|
|
(a) receives any welcome bonus UAB Rewards but subsequently transfers his/her salary
to another financial institution within six (6) months of receiving the UAB Rewards;
or
|
|
(b) instructs UAB to cancel his/her credit card at any time in the period of six
(6) months after receiving any welcome bonus UAB Rewards,
|
|
The UAB Rewards earned are subject to claw-back by UAB. In such circumstances, the
Bank is entitled to cancel all or part of the welcome bonus UAB Rewards where they
have not been redeemed. In the event that such UAB Rewards Accountholder has already
redeemed in full its UAB Rewards, the Bank shall be entitled, at its absolute discretion
and without any further notice, to charge the credit card of such UAB Rewards Accountholder
with the financial value of such redeemed UAB Rewards at the applicable UAB Rewards
Rate at the relevant time.
|
|
Version 2.0 (September 2014).
Copyright United Arab Bank P.J.S.C. All Rights Reserved 2014.
“UAB REWARDS” is a trademark of United Arab Bank P.J.S.C.
|
|
|
|