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Article I The procedures are formulated to enhance conversion from traditional currency to electronic-currency and provide better financial service to social circles in accordance with Bank Card Business Management Measures issued by the People's Bank of China and relate regulations.
Article II Peony Credit Card is credit card issued by ICBC and that the Cardholder is granted certain credit limit and the cardholder can consume first within the credit limit and then make payment.
Peony Credit Card is used only in China and settled in Renminbi. It has functions of credit consumption, transfer settlement and deposit and withdrawal of cash, etc.
Article III Peony Credit Card is divided into Business Card and Personal Card according to its issuing targets, of which personal card is divided into Principal Card and Supplementary Card; and gold card and Classic according to credit grade.
Article IV A unit can apply for business gold card or Classic (collectively called "Business Card") of Peony Credit Card from ICBC issuer with account opening license issued by the People's Bank of China from ICBC issuer (hereinafter referred to as Issuer). A unit can apply several business cards but it must provide the specified cardholders.
Any individual who has complete civil capacity can apply for personal gold card or Classic (collectively called "Personal Card") of Peony Credit Card from ICBC issuer with personal valid identity certificate approved by public security department. Principal Card holder of personal card can apply no more than two Supplementary Cards for its spouse or relative with complete civil capacity.
Article V Unit and individual applicant must fill in application form and sign Peony Credit Card Application Contract with issuer when applying for Peony Credit Card. The issuer will decide whether the applicant is required providing guarantee and what guarantee mode should be provided, whether the card application is approved and which card type is decided according to credit standing of the applicant.
Article VI The issuer shall have right to adjust the account credit limit according to credit standing of the card holder. Overdrawing balance of an account in a month shall not exceed RMB50,000 and that of the business card shall not exceed 3% of the comprehensive credit limit granted by the issuer. Overdrawing balance of an account in a month shall not exceed RMB100,000 for the unit for which no comprehensive credit limit is referred. All the Peony Credit Cards under the same account share the credit limit.
Article VII Guarantee can be warranty, mortgage or pledge. Guarantee scope is all the liability under the cardholder's Peony Credit Card (including overdrawn amount within the credit limit and overdrawn principal and interest beyond the credit limit, limit-beyond fees, penalty and recovery fees, etc.) Guarantee contract shall be signed if required.
Article VIII As for transaction completed without password, all the transaction documents registered with cardholder's valid identity certificate number and signature are all the valid documents of the transaction.
Article IX Account capital of the business card is all transferred in from its basic account. Neither cash nor sales income is allowed to deposit in the business card account. Credit limit is not allowed for settlement of commodity transaction and labor supply. If the limit exceeds the floor amount specified by the People's Bank of China, Local Branch of the People's Bank of China should make transfer/remittance. Single overdrawing amount of the same card holder shall not exceed RMB50,000.
Personal card account capital can be deposited with cash income or salary capital or other legal labor compensation of the individual. Investment return or other similar income shall be deposited by transfer. Single overdrawn amount of the same cardholder shall not exceed RMB20,000. Accumulated disbursement amount of Per Card each day shall not exceed RMB2000.A cardholder can withdraw from specified ATM with the card and password at most 5 times a day and accumulated amount shall not exceed RMB5,000.
Article X The card holder should pay annual service fee according to regulations of the issuer. Annual service fee for each gold card is RMB160, for Supplementary Card of gold card is RMB80, for Classic is RMB80 and for Supplementary Card of Classic is RMB40.
Report loss service fee is RMB50 Per Card and cost for changing a new card is RMB20 Per Card.
The service fee for disbursement from ATM of other commercial banks is no more than RMB2 for disbursement in the city of the card application and RMB2 or disbursement out of the city of the card application.
Article XI The period from bank account day to due payment day noticed in the bank statement (hereinafter referred to as due repayment day) (included) except disbursement and transfer transactions, is interest-free repayment period. Due repayment day is the 25th day from print day of the bank statement. If the cardholder should repay all the due amount before business ending of the due repayment day, the cardholder is not required to pay loan interest besides cash and transfer transaction.
If the cardholder has difficulty in repaying all the liabilities before business ending of the due repayment day, it can repay the Min Amount compromised by the issuer. In case of payment of minimum of repayment amount, loan interest of the unpaid party is collected by the issuer at the daily interest rate of 0.5‰ during the period from bank accounting day to the actual repayment day. Credit interest is subject to single interest by month. Where Min Amount is not paid before business ending of the due repayment day, besides loan interest paid as specified above, 5% of the unpaid Min Amount is also charged as penalty. The issuer will terminate the card using if the Min Amount is not paid before business ending of the due repayment day for successive two times (included).
Article XII Interest-free repayment is not applied to disbursement or transfer to personal account by personal card holder with the credit limit and credit loan is collected at the interest rate of 0.5‰ each day from the account day to the repayment day.
No amount enjoys interest free repayment period if the card holder uses amount beyond the credit limit approved by the issuer. If the exceeded amount is not paid before business ending of the due repayment day, 5% of the exceeded amount shall be charged as limit-beyond fee.
The cardholder should pay interested loan and then un-interested loan. The priority of repayment shall be interest, fees (limit-beyond fee and penalty, etc.), disbursement loan, transfer loan and consumption loan.
Deposit in the account of Peony Credit Card is not paid with interest.
Article XIII Maximum effective period of the Peony Credit Card is 2 years. If the cardholder wants to continue using it upon expiry, new card change procedures should be processed. If the cardholder doesn't want to apply a new card upon expiry, the card holder shall give a notice in writing or otherwise agreed by both parties to the issuer one month before the expiry date. Otherwise, the issuer will deem the cardholder is willing to apply a new card upon expiry. Expired Peony Quasi- Card must not be used but the application contract continues survive. If a cardholder doesn't want to apply a new card or stop using the card midway, it should turn over the Peony Credit Card to the issuer and processes the cancellation procedures.
The effective period of the changed new card is the same as the original card.
Article XIV Issuer will have the card account cancelled for the cardholder after receiving cancellation application submitted by the cardholder. Capital in the business card account shall be transferred into basic deposit account when canceling the account.
Article XV A cardholder should repay the principal and interest of credit and the related fees under the Peony Credit Card in time. In case of failure in repayment, the issuer shall have right to collect and recover them according to law.
Article XVI The issuer and the cardholder shall both abide by Peony Credit Card Application Contract. If either party fails to fulfill the contract, the other party shall have right to investigate responsibility for breach of contract and legal responsibilities according to the Contract and laws. If the cardholder fails to abide by procedures and Peony Credit Card Application Contract, the issuer shall have right to disqualify the cardholder and authorize related unit to recover the Peony Credit Card.
Article XVII The issuer shall provide the cardholder with consulting, enquiry, reconciliation, loss report and complaint, etc. The request for account enquiry and correction by the card holder shall be replied within 30 days. The issuer shall keep confidence for the credit standing of the card holder (unless otherwise specified by the national laws and regulations).
The card holder shall have right to claim bank statements in the last three months from the issuer. The card holder shall enquiry or issue correct requirement for the inconsistent account if any within 10 days after claiming the bank statements.
Article XVIII The cardholder shall provide true and reliable application materials to the issuer and provide guarantee to meet requirements of the issuer, abide by ICBC Peony Credit Card Procedures and fulfill Peony Credit Card Application Contract; properly keep Peony Credit Card and password, shall not rent or lend the Peony Credit Card and shall not refuse due amount with excuse of dispute with special unit. If the mailing address, telephone, residential Address and Occupation are changed, the cardholder shall give a notice to the issuer in writing or other way agreed by both parties.
Article XIX If the card holder loses the Peony Credit Card, it should handle written loss report or telephone loss report in time in the nearby issuer. Written loss report is formal one. Issuer only assists to prevent loss for telephone loss report and takes no responsibility for it. Any economic loss occurred before loss report and during the period after the issuer accepts written loss report and within 24 hours (included) of the next day shall be borne by the cardholder itself. After loss report, if the cardholder needs to apply for a new card, it can handle the related procedure with written loss report application form and its own ID Certificate.
In case of password loss, the cardholder shall apply for reset password in witting from the issuer with its own valid ID certificate.
Article XX Peony Emporiums all accept Peony Credit Card and fulfill the Peony Credit Card Contract.
Article XXI Modification of the procedures or adjustment of interest rate, charge items and Fee Schedule of the Peony Credit Card comes into effect upon being published. No additional notice is given.
Article XXII The procedures are construed and interpreted by ICBC and comes into effect after approval by the People's Bank of China, so are the modifications.
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