Terms and Conditions


"Customer" refers to Commercial Leasing & Finance PLC (CLC) Account Holders to whom the Internet Banking facilities are provided, and includes both singular and plural, and for purposes of reference to Joint Account holders, individually and collectively.
These terms and conditions shall bind each Account Holder individually or any one or more or all Account Holders collectively and all agreements, obligations and liabilities of Joint Account Holders are joint and several.
In consideration of Commercial Leasing & Finance PLC (CLC) pursuant to the Customer request making available to the Customer Internet Banking facility, the Customer hereby agrees to be bound by the following terms & conditions.

1. To restrict the use of the Internet Banking facility exclusively to the Customer.

2. The Customer (inclusive of Joint Account holders) is over eighteen (18) years of age and the details provided at the time of registrations are correct and complete. Any changes should be informed to CLC immediately by updating the personal details.

3. At no time and under no circumstances to disclose to any person the User ID/Password(s) required for use of the Internet Banking facility and to treat such as strictly confidential.

4. To report to CLC immediately upon becoming aware that the User ID/Password(s) have fallen/may have fallen into the hands of any unauthorized party.

5. To accept full responsibility for all transactions processed from the use of the Internet Banking facility using the Customer’s User ID, even if the instructions were not authorized by the Customer.

6. To accept CLC's record of transactions as conclusive and binding for all purposes.

7. That CLC has the authority to revoke the Customer’s right to give instructions to CLC using the Internet Banking facility, at any time, without prior notice.

8. That CLC is not bound to carry out the instructions given by the Customer, if CLC at its sole discretion believes that such instructions do not emanate from the account holder.

9. That CLC does not guarantee that the Internet Banking facility will be error free and will meet the Customer’s requirements.

10. That CLC may occasionally restrict the functions of the Internet Banking facility, or completely make dysfunctional, to allow for repairs, maintenance or the introduction of new features.

11. That CLC will make reasonable efforts to process any instruction requested by the Customer, but shall not be liable for any failure to comply with such request(s) unless it is due to CLC’s failure to make reasonable efforts to do so.

12. That the Customer must ensure that all instructions given are accurate and complete and CLC is not liable for any damages if this is not the case.

13. That a transaction being carried out is not always simultaneous with an instruction being given. Certain instructions may be processed after a delay and/or only be processed during normal working hours even though the service may be accessible outside such hours.

14. Not to hold CLC liable, responsible or accountable in anyway whatsoever for any loss or damage whatsoever arising by any malfunctions or failure of the Internet Banking Facility or on the failure or delay of CLC to act on instructions given via this medium.

15. Notwithstanding to and without prejudice to the generally of provision of (14) above the use of the Internet Banking facility shall be at the sole risk of the Customer and the Customer shall also accept any and all risk, incidental to or arising out of the use of Internet Banking Facility.

16. That CLC shall be at liberty to terminate the facility at any time without notice to the Customer by canceling the facility.

17. All rules and regulations governing the operations on Savings, Fixed Deposits, Leasing, Insurance, Loans and/or any other accounts/facilities shall be applicable to Internet Banking transactions relating to such accounts.

18. The Customer hereby acknowledges that any information entered during the course of using the Internet Banking facility will be stored ONLY with the Customer’s prior approval. CLC adopts appropriate data collection, storage and processing practices and have implemented reasonably adequate security measures and controls to protect such information against unauthorized access, alteration, disclosure or destruction.

19. CLC may collect non-personal identification information about Customers whenever they use the Internet Banking facility, without obtaining prior permission. Non-personal identification information may include the browser name, the type of computer and technical information such as the operating system, the Internet service providers utilized and other similar information.

20. CLC may use any such information stored for several purposes, not limited to: processing transactions, administering accounts (which includes verifying personal information in order to safeguard data) and responding to complaints.

21. CLC may monitor usage of the Internet Banking facility for security purposes.

22. CLC may also undertake market and other analyses based on Customer use of the Internet Banking facility. Such analyses shall be conducted in order to identify user patterns and behavior in order to improve the facility.

23. That CLC reserves the right to vary these terms & conditions and fees applicable at any time and without prior notice.

24. CLC takes no liability for usage of the Internet Banking facility from territories where such facilities are illegal, unlawful or is prohibited. If the Customer chooses to use the Internet Banking facility from locations outside Sri Lanka, the Customer does so on his/her own initiative and is responsible for compliance with local laws.

25. Indemnity Clause - That the Customer will be fully liable and responsible for all consequences arising from or in connection with use of the service and/or access to any information or report or any other information as a result of such use by the Customer or any other person whether or not authorized by the Customer. The Customer shall indemnify CLC and their directors, respective officers and employees against all liabilities, claims, damage, losses, demand, costs, charges and expenses of any kind (including, without limitation, legal fees on full indemnify basis) which may be incurred by any of them and all actions and proceeding which may be brought by or against any of them in connection with the provision of the services, the information and/or the report exercise or prevention of CLC powers under these terms & conditions unless due to the gross negligence or willful default of CLC.

26. All matters relating to use of the Internet Banking facility shall be governed and construed in accordance with the laws of Democratic Socialist Republic of Sri Lanka. Any legal action or proceedings relating to the Customer’s access to, or use of, the facility shall be instituted in a court in Colombo, Sri Lanka. The Customer and CLC agree to submit to the jurisdiction of, and agree that venue is proper in such legal action or proceeding.

* I have read and agreed with the terms and condition