The Coterie Consumer Deposit Account Agreement
read this The Coterie Deposit Account Agreement (the “Agreement”) carefully and
retain it for your future reference. This Agreement contains the general terms,
conditions and disclosures related to the non-interest-bearing demand deposit
account (the “Account”) made available to eligible consumers by The Coterie.Me,
Inc. (“Program Partner”), the program partner responsible for managing the
Account program, in partnership with Blue Ridge Bank, N.A. (the “Bank”).
see the words “we,” “us,” or “our” in this Agreement, it refers to the Bank,
the Program Partner acting as agent for the Bank, and any of the Bank’s
affiliates, successors, assignees, agents or service providers. When you see
the words “you” or “your,” it refers to you, the owner of the Account, as well
as your personal representatives, executors, administrators, and successors.
opening or continuing to hold an account with us, you agree to be bound by this
Agreement as well as any other agreement or document we may provide to you from
time to time in connection with the Account.
NOTE: THIS AGREEMENT IS SUBJECT TO BINDING ARBITRATION AND A WAIVER OF CLASS
ACTIONS AND YOUR RIGHT TO A JURY. THE TERMS OF ARBITRATION AND THE WAIVER
APPEAR IN SECTION 7 OF THIS AGREEMENT.
How to Contact Us
contact us with any questions or concerns regarding your Account. All
communication between you and us will be handled by the Program Partner. The
best way to contact us is through email at email@example.com or phone
Type of Account and Eligibility
The Account is a non-interest-bearing demand deposit account used
to hold your deposits and make certain types of payments and transfers. The
Account is available to United States citizens or lawful permanent residents of
the fifty (50) United States all U.S. territories, who are at least 18 years of
age, have a U.S. physical address or with military addresses (APO or FPO), and
have a valid Social Security Number or Tax Identification Number. The Account
is only available to individuals for personal, family or household purposes and
may not be opened by a business in any form or used for business purposes.
decline to open an Account for any reason at the sole discretion of the Bank or
Program Partner. We are not liable for any damages or liabilities resulting
from refusal of an Account relationship.
Online or Mobile Access To Your Account
open an Account, you will also be enrolled in an online banking service or
mobile application (collectively, “Online Banking Services”) offered by the
Program Partner that you can use to access your Account, view information about
your Account and conduct certain transactions. You may also be given access to
various features through the Online Banking Services separate from your
Account. If you cancel your enrollment in the Online Banking Services at any
time, we may close your Account (see Section 3.11 below).
otherwise specified in this Agreement, the Online Banking Services and any if
its features are governed by the Program Partner’s Terms of Service and Privacy
review these documents carefully because by using the Online Banking Services,
you agree to be bound by them. These services are not provided or controlled by
the Bank or this Agreement, and you agree not to hold the Bank liable for
issues that may arise from your use of the services or features.
an Account, you must agree to go “paperless.” This means that you must (1)
provide us with and continue to maintain a valid email address and (2) accept
electronic delivery of all communications that we need or decide to send you in
connection with your Account by agreeing to our Electronic Disclosure and
Titling and Ownership of Accounts
Account may only be owned in the name of one person who may make deposits and
transfer or withdraw funds. The Account cannot be owned or titled as a joint
account, trust account, a Uniform Transfers to Minors (UTMA) account or a
Payable-On-Death (POD) account.
be given the ability to designate additional individuals (“Authorized Users”)
whom you authorize to access your Account and/or conduct transactions through
your Account. By establishing an Authorized User, you understand that any
transaction authorization, instruction or any other action concerning your
Account that your Authorized User engages in shall be deemed authorized by you
and valid and we are under no obligation to investigate the authorization,
instruction or activity. You also agree that you will not hold us liable for
acting upon any such authorization, instruction or activity. We will continue
to treat all actions taken by your Authorized User as authorized by you until
you revoke the Authorized User’s access to your Account by notifying us by
email at firstname.lastname@example.org. We also reserve the right to terminate your
Authorized User’s access to the Account for any reason and without advance
How To Open an Account
open an Account by downloading The Coterie mobile application from the Google
Play Store or Apple App Store and following the instructions within the
information about procedures for opening a new Account: To help
the government fight the funding of terrorism and money laundering activities,
federal law requires all financial institutions to obtain, verify and record
information identifying each person who opens an Account, including any
Authorized Users who may access an Account. This means that when you open an
Account, we will ask for your name, street address, Social Security Number or
Tax Identification Number, date of birth and other information that will allow
us to identify you. We may also ask to see identifying documents, such as a
Minimum Deposits and Balances
no minimum deposit required to open an Account and no minimum balance you need
to maintain in your Account.
Account is not interest-bearing. No interest will be paid on this Account.
Power of Attorney and Attorneys-In-Fact
allow you to give another person (known as an “attorney-in-fact”) power of
attorney to act on your behalf for your Account. You must obtain written
approval from us before we will honor any power of attorney. Email us at email@example.com
for approval if you plan to create a power of attorney. Please be aware that it
may take up to two weeks for us to review your request. If approved, we will
honor orders and instructions from your attorney-in-fact until (1) we receive a
written revocation from you; (2) we are notified that you or your
attorney-in-fact have died or become incapacitated; or (3) we terminate our
acceptance of the power of attorney. We may terminate our acceptance at any
time, for any reason and without notice to you, and you agree not to hold us
liable for any damages that may result from such action. You also agree to hold
us harmless for any actions we take based on the instructions of your
attorney-in-fact, including if it is later determined that your power of
attorney was invalid or improperly executed.
Death or Incapacitation
that if we receive notification or if we have reason to believe that you have
died or become legally incapacitated, we may place a hold on your Account and
refuse all transactions until we know and have verified the identify of your
successor. Until we receive notice and any required proof of death or
incapacitation, we may continue to accept deposits and process transactions to
your Account. Your estate will be responsible for repaying us for any tax
liability resulting from payment of your account balance to your estate. You
agree to hold us harmless for any actions we take based on our belief that you
have died or become incapacitated. If certain payments originating from government
entities are deposited into your Account after your death, we may be required
to return those payments to the originator upon notice.
Our Relationship With You
opening an Account, we are establishing an Account relationship with you and
committing to act in good faith and to the exercise of ordinary care in our
dealings with you as defined by the Uniform Commercial Code as adopted by the
State of Virginia. This Agreement and the Account relationship do not create a
fiduciary relationship or any other special relationship between you and us.
Third-Party Service Providers
with one or more third-party service providers, including Unit Finance Inc.
(“Unit”), in connection with your Account. In particular, Unit may assist us in
processing transactions, handing account operations, and providing
technological connection to the Program Partner and the Bank. By using your
Account, you license and authorize us to access information maintained by Unit
and/or other third parties, on your behalf as your agent, and you expressly
authorize such third parties to disclose your information to us. In particular,
you agree that Unit may perform any functions on your Account that we are
otherwise authorized to perform and that Unit’s access and use of your information
privacy is very important to us. Under this Agreement, we will generally only
disclose information to third parties about your Account or the transactions
To verify your identity and determine if we should open an Account
for you using services provided to us by third parties.
Where it is necessary for completing a transaction.
To verify the existence and condition of your Account for a third
party such as a credit bureau or merchant.
To comply with government agency or court orders.
If you give us your written permission to share your information.
information about our commitment to you, your privacy rights and who we share
data and information with.
addition, we disclose your information to Unit in order to facilitate the
Account and for other ancillary purposes. You agree to Unit’s use of your
Cell Phone Communications
providing us with your telephone number for a cellular phone or other wireless
device, you are expressly consenting to receiving non-marketing communications
at that number—including but not limited to prerecorded or artificial voice message
calls, text messages, and calls made by an auto-dialer—from us and our
affiliates and agents. This consent applies to all telephone numbers you
provide to us now or in the future. Your telephone or mobile service provider
may charge you for these calls or messages. You also agree that we may record
or monitor any communications for quality control and training purposes.
Our Business Days
business days are Monday through Friday, excluding federal holidays].
Your Account Responsibilities
We strive to keep your Account secure and provide you with tools
and services to help you manage your Account. However, there are certain things
you should do to protect your Account and your funds.
Notify Us If Your Information Changes
notify us immediately if there is a change to your name, telephone number,
mailing address, email address or any other information you have provided us so
that we can continue to provide you with statements and important notices
concerning your Account.
Keep Track of Your Transactions and Available Balance
very important that you keep track of your transactions and the funds in your
Account that are available for you to use (“Available Balance”) by reviewing
your transaction history. It is also important to understand that your
Available Balance may not reflect transactions you have authorized that have
not yet been presented to us for payment.
also responsible for reviewing your Account statements as they are made
available to you for errors or unauthorized activity. If you identify an error
or unauthorized activity, you must notify us promptly to avoid losing your
money. Please refer to Sections 4.7 and 5.10 for information concerning errors
and unauthorized activity.
Protect Your Account Information
very important that you protect your Account information to prevent
unauthorized transactions and fraud. Keep your Account number, debit card, ATM
card and statements secure at all times, and be careful about who you share
this information with. If the Program Partner provides you with access to
Online Banking Services, make sure to also keep your computer or mobile device
secure at all times and avoid accessing the Online Banking Services when others
can see your screen.
Account number, debit card, ATM card, mobile device or Online Banking Services
login credentials are lost or stolen, notify us immediately to limit your
liability for unauthorized transactions that may occur. Please refer to Section
4.6 for information and applicable deadlines for notifying us of losses or
General Rules Governing Your Account
You understand that any payment instruction or activity performed
using any Online Banking Services provided to you by the Program Partner shall
be deemed authorized by you and valid and we are under no obligation to
investigate the instruction or activity.
Deposits Into Your Account
make deposits into your Account using any of these methods described below. We
do not charge you any fees for making deposits.
Limitations for Your Account
Internal transfers between
eligible accounts managed by the Program Partner
ACH transfers to your Account
from a linked bank account with another institution**
Cash deposit at in-network ATM
You can use your debit card to
make deposits at in-network ATMs. You can identify an in-network ATM by
looking for the Allpoint logo on or near the ATM. You cannot make cash
deposits at out-of-network ATMs.
* The recipient’s name on any
direct deposit or ACH transfer must match the name on the Account or the
deposit may be returned to the originator.
** You may transfer funds
between your Account and another bank account. The linked bank account must
be located in the United States.
We do not
accept cash deposits by mail, or paper check or foreign currency deposits: We are
not liable for deposits of any kind that you mail to us, including if it is
lost in transit, lost in the mail, or otherwise not received by us.
Cash: We do not accept cash deposits made by mail. If you mail us a
cash deposit, we will send the cash back to you.
Paper Checks: If you mail a paper check to us, including
personal checks, money orders or cashier’s checks, we may apply the check to
any negative balance you may have on your Account or send the check back to
Foreign Currency: We do not accept any deposits in
foreign currency. Any deposits received in foreign currency, whether in the
form of cash or check, will be sent back to you.
send all items back to the address we have for you on file and we are not
liable if you do not receive the items.
only deposit with us funds that are immediately available, which under
applicable law are irreversible and are not subject to any lien, claim or
information about deposits and when funds from a deposit will be made available
to you, please refer to Section 3.2.
Our Funds Availability Policy
It is our
policy to make deposits made to your Account each business day available for
withdrawal according to the table below. The end of the business day is
referred to as the "deposit cut-off time". If you make a deposit
before our cut-off time on a business day that we are open, we will consider
that day to be the day of your deposit. However, if you make a deposit after
our cut-off time or on a day we are not open, we will consider the deposit to
be made on the next business day that we are open.
make a deposit via…
The cut-off time is…
And those funds are available…
Internal transfer between two
Accounts you have with us
3:00 PM ET
Same business day
3:00 PM ET
Same business day
Cash deposit at in-network ATM
3:00 PM ET
Next business day
availability of funds transferred to your Account from a linked bank account
held by another financial institution follow different rules. Please refer to
Section 3.6 for more information.
Problems that Could Occur With Deposits
deposit or transfer to your Account is returned or rejected by the paying
financial institution for any reason, or if there is an error or mistake
involving a deposit or transfer, we may deduct the amount of the deposit,
transfer, or error without prior notice to you. If there are insufficient funds
in your Account at the time, your Account may become overdrawn. Please refer to
Section 3.10 concerning overdrafts for more information.
Transfers To or From Two Accounts You Have With Us
transfer funds from one Account in your name to another account in your name
held by us that is managed by the Program Partner (an “internal transfer”).
There are no limits on the number of internal transfers you may make, and
internal transfers are immediately available.
Withdrawals From Your Account
withdraw funds up to the amount of your Available Balance in your Account using
any of the following methods.
Limitations for Your Account
Internal transfers between eligible accounts managed by the
ACH transfers from your Account to a linked bank account at
ACH transfer to a merchant or other third party you authorize to
withdraw from your Account using your routing number and account number
POS transactions and other transactions at merchants using your
* You may transfer funds between your Account and another bank
account. The linked bank account must be located in the United States.
have been issued a debit card or ATM card for your Account, there may also be
limitations that apply to your use of the card. Please refer to the applicable
cardholder agreement provided to you with your card for information on any
applicable limitations and other terms.
cannot withdraw funds by check, and we do not permit you to create checks drawn
on your Account.
permitting a withdrawal or other transaction, we may request that you provide
us with additional information or documentation that we deem necessary to
confirm your identity or to prevent illegal activity. We may refuse the
transaction if you do not comply with our request.
Transfers To or From Linked Bank Accounts
be provided with the ability to link another bank account you have with another
financial institution (“linked bank account”) to your Account with us in order
to make inbound and outbound ACH transfers between the linked bank account and
your Account through the Online Banking Services. An “inbound transfer” moves
funds into your Account from a linked bank account. An “outbound transfer”
moves funds from your Account to a linked bank account.
inbound transfers, we will debit your linked bank account and credit your
Account with us on the next business day after you initiate the transfer. The
funds you transfer to your Account will be made available to you by the third
business day after the funds have been credited to your Account.
outbound transfers, we will debit your Account with us and credit your linked
bank account on the next business day after you initiate the transfer. The
financial institution that holds your linked bank account determines when those
funds will be made available to you in your linked bank account.
cut-off time for both inbound and outbound transfers is 3:00 PM ET. Transfer
requests that you make on a business day before the cut-off time will be
considered initiated on that day. Transfer requests that you make after the
cut-off time, or on a day that is not a business day, will be considered
initiated the following business day.
limits to the dollar amount of both inbound and outbound transfers you can
make. Please see sections 3.1 and 3.5 for relevant limitations.
that you will only attempt to link a bank account for which you have the
authority to transfer funds. You also agree to indemnify and hold us harmless
from any claims by any person related to the linked bank account, including any
other owner of the linked bank account. You may only link a bank account that
is a deposit account, such as a checking, savings or money market account.
No Illegal Activity, Internet Gambling and Right to Refuse Transactions
not use your Account for any illegal purposes or, regardless of whether it is
legal or illegal, for internet gambling. We may deny any transaction or refuse
to accept any deposit that we believe is related to illegal activity, online
gambling or for any other reason at our discretion.
How We Post Transactions To Your Account and Determine Your Available
understand how we post transactions to your Account, it is important to first
understand the difference between your Available Balance and your ledger
balance. Your Available Balance is the amount of money you have in your Account
at any given time that is available for you to use. Your ledger balance is the
balance in your Account at the beginning of the day after we have posted all
transactions to your Account from the day before. We use your Available Balance
to authorize your transactions throughout the day and determine whether you
have sufficient funds to pay your transactions. Here are some additional terms
that are helpful to understand:
Credit and debit – A credit increases your balance and a debit
decreases your balance.
Post or posted – Transactions that are paid from or deposited to
your Account. Posted transactions will either increase or decrease both your
Available Balance and your ledger balance.
Pending – Transactions that we receive notice of and are scheduled
to post to your Account. Pending transactions affect your Available Balance,
but not your ledger balance.
Card authorization and settlement – When you use a debit card to
make a purchase, the transaction occurs in two steps: card authorization and
settlement. Card authorizations reduce your Available Balance, but not your
ledger balance. Settlement reduces both your Available Balance and your ledger
balance. Card authorizations are removed when settlement occurs or after a
certain number of days have passed, whichever is sooner. Please see Section
3.8.4 for more information about card authorizations and settlement.
receive transactions throughout the day and post them to your Account as they
are received and in the order that they are received. Note that for debit card
transactions, we consider the transaction received when the merchant requests
settlement, which may occur several days after you authorize the transaction.
See Section 3.8.4 for additional information concerning how debit card transactions
change the order in which we post transactions to your Account at our
discretion and without notice to you. It is therefore important for you to keep
track of the deposits you make and the transactions you authorize to make sure
there are sufficient funds in your Account to cover all transactions and any
Determining Your Available Balance
determine your Available Balance, we start with your ledger balance at the
beginning of the business day, add any pending credits or deposits that we make
available to you, and subtract any card authorizations and pending debits. All
transactions are debited or credited from your Available Balance in the order
check your available balance via Online Banking Services. Keep in mind that
your Available Balance may not reflect every transaction you have initiated or
previously authorized. For example, your Available Balance may not include
transactions you have authorized that we have not received.
Debit Card Authorizations
are issued a debit card with your Account, you will be able to use your card to
pay for goods or services or conduct other transactions with a merchant. When
you engage in a transaction with a merchant using your debit card, the merchant
will request preauthorization (“card authorization”) for the transaction. If
there are sufficient available funds in your Account, we will approve the
request and reduce your Available Balance for as long as the card authorization
remains on your Account.
Available Balance will generally be reduced by the amount of the card
authorization will remain on your Account until the merchant sends us the final
amount of the transaction and requests payment (“settlement”). In most cases,
if the merchant does not request settlement, or the merchant is delayed in
requesting settlement, the card authorization will automatically be removed
after 3 days. However, certain merchants such as hotels may hold for a period
of up to 7 days.
important to understand that the merchant controls the timing of card
authorizations or settlement. A merchant may request settlement after the card
authorization has been removed from your Account. This means that if you use
the funds in your Account after the card authorization has been removed and the
merchant later requests settlement, your Account may become overdrawn. A
merchant may also request settlement for an amount that is different than the
card authorization. Therefore, it is important that you keep track of your
transactions and your balance. Once we have approved a card authorization, we
cannot stop the transaction and you will be responsible for repaying any
negative balance that may occur.
will periodically be provided to you by email and via Online Banking Services
as long as your Account is not inactive. You will receive a statement monthly
as long as you have transactions on your Account during the statement period.
If there were no transactions on your Account, we will provide you statements
at least quarterly. You will not receive paper statements.
Overdrafts, Nonsufficient Funds and Negative Balances
We do not
permit you to overdraw your Account. If the Available Balance in your Account
is not sufficient to cover any transaction you have authorized, we may return
the transaction or refuse to process the transaction. However, there may be
instances where your Account can still go into the negative, such as if a
deposit you make is returned. You must make a deposit immediately to cover any
negative balance. If your Account has a negative balance for sixty (60)
calendar days or more, we may close your Account.
Closing Your Account and Account Suspensions
close your Account at any time and for any reason by email at
firstname.lastname@example.org. We reserve the right to refuse your request if you have a
negative balance on your Account. We recommend that you transfer or withdraw
any funds you may have in the Account prior to submitting a request to close
the Account to avoid delays in receiving your funds.
also suspend or close your account at our discretion with or without notice.
This includes if we believe you are using your Account for fraudulent or
illegal purposes or in violation of law or regulation, this Agreement, any
other agreement you may have with us or Unit, or if you otherwise present undue
risk to us or Unit. We may also close your Account if you have not made any
deposits or withdrawals from your Account in over twelve (12) months. In
addition, cancelling your enrollment in the Online Banking Services with the
Program Partner will result in our closure of the Account and our return of your
funds. We are not responsible to you for any damages you may suffer as a result
of the closure or suspension of your Account.
Account is closed with a balance greater than $1.00, we will return any funds
you may have in the Account to you by ACH transfer to another bank account or
by paper check. We reserve the right not to return the funds to you if the
balance in your Account is $1.00 or less. The closure of your Account or
termination of this Agreement does not impact any right or obligation that
arose prior to closure or termination, or any right or obligation that, by its
nature, should survive termination (including, but not limited to, any
indemnification obligation by you, our limitations of liability, and any terms
Dormancy, Inactivity and Unclaimed Property
and our policy govern when your Account is considered dormant. Your Account is
usually considered dormant if you have not accessed your Account, communicated
to us about your Account or otherwise shown an interest in your Account within
the period of time specified under applicable law. Each state has varying laws
as to when an account becomes dormant, and we may be required to send the
balance in your Account if it becomes dormant to the state of your last known
address. We will make reasonable efforts to contact you if required by
applicable law before transferring the remaining balance of your Account to the
applicable state. After we surrender the funds to the state, you must apply to
the appropriate state agency to reclaim your funds. You can avoid the surrender
of your funds by simply conducting transactions, contacting us about your
Account or replying to any abandoned property notices we may provide to you.
also place your Account in an inactive status if you have not had any
transactions for at least six (6) months. If your Account becomes inactive, you
may not receive statements or be able to conduct certain transactions. Inactive
Accounts must be reactivated. Contact us by email at email@example.com to
reactivate your Account.
Account Fees and Fee Schedule
no fees associated with this account. Fees are subject to change at any time.
We will provide you advance notice of any changes where required by law.
Electronic Fund Transfers
Your Account allows you to
withdraw funds up to the Available Balance or make deposits through Electronic
Fund Transfers (“EFTs”). EFTs are transactions that are processed by electronic
means and include, among others, ACH transfers, debit or ATM card transactions
and direct deposits. This Section provides you with information and important
disclosures and terms about the EFTs that are permitted on your Account. You
may also receive additional services through Online Banking Services provided
by the Program Partner, that allow you to initiate EFTs to and from your
Account that are not described in this Agreement. You will be provided separate
agreements and disclosures applicable to those services by the Program Partner.
Types of EFTs Supported by Your Account
Your Account allows the following
types of EFTs:
Direct deposits from your employer or other source of income
Transfers to or from your Account to or from a linked bank account
(see Section 3.6)
Transfers to or from your Account to a merchant or other third
party by providing the third party with your Account routing number and account
Purchases or other transactions using your debit card
ATM deposits or withdrawals using your debit card or ATM card
Limitations on EFTs
There are limitations on the
frequency and amount of transactions you can make to or from your Account.
These limits are different for each type of transaction. For limits that apply
to transactions that credit or deposit funds into your Account, please refer to
Section 3.1 concerning deposits. For limits that apply to transactions that
debit or withdraw from your Account, please refer to Section 3.5 concerning
withdrawals. For limits that apply to transfers to or from your Account from a
linked bank account, please refer to Section 3.6. These security-related limits
may change from time to time.
have been issued a debit card or ATM card for your Account, there may also be
transaction limitations that apply to your use of the card. Please refer to the
applicable cardholder agreement provided to you with your card for information
on any limitations and other terms.
Your Right to Receive Information and Documentation of Your Transactions
You will receive information and
documentation concerning any EFTs that debit or credit your Account in the
Statements: We will provide you information about each transaction
that debits or credits your Account on your statements. Please refer to Section
3.9 for information about statements. You may access your transaction history
via Online Banking Services.
Direct Deposits: If you receive a direct deposit into your Account
at least once every sixty (60) days from your employer or other person or
company, you can check if the deposit has been made by emailing us at
firstname.lastname@example.org or via Online Banking Services.
Receipts: You can get a receipt at the time you make a withdrawal
at an ATM or a purchase at a point-of-sale terminal using your debit card or
Preauthorized Transfers, Your Right to Stop Payment and Notices of
If you authorize us or another
company or person to withdraw from your Account on a regular basis (such as
when you sign up for “autopay” to pay a monthly bill), it is called a
Preauthorized Transfer. You have the right to place a stop payment on
Preauthorized Transfers, as well as get notification when the amount of a
particular withdrawal will be different from the amount of the last withdrawal.
Your Right to Stop Payment
If you authorize a company or
person to take payments from your Account on a regular basis through a
Preauthorized Transfer, you can stop any of these payments by contacting us by
email at email@example.com at least three (3) business days before the next
payment is scheduled to be made.
Make sure to provide us with (1)
your name, (2) your Account number, (3) the company or person taking the
payments, and (4) the date and amount of the scheduled payment you wish to
stop. If you want all future payments from that company or person stopped, be
sure to tell us that as well. If you do not provide us with the correct
information, such as the correct payee or the correct amount of the payment you
wish to stop, we may not be able to stop the payment.
Our Liability if We Fail To Stop a Preauthorized Transfer
If you order us to stop one of
these payments three (3) business days or more before the payment is scheduled
and provide us with all information requested, and we do not do so, we will be
liable for your losses or damages proximately caused by the failure. However,
we will not be liable if the company or person initiating the payments changes
the dollar amount of the payment or makes other changes that cause us not to
recognize it as the payment you requested be stopped.
Notices of Varying Amounts
If these regular payments vary in
amount, the person or company you are paying will tell you ten (10) days before
each payment when it will be made and how much it will be. You may be given the
option to only get this notice when the payment will differ by more than a
certain amount from the previous payment, or when the amount will fall outside
certain limits that you set.
Our Liability for a Failure To Complete A Transaction
If we fail to complete a
transaction on time or in the correct amount when properly instructed by you in
accordance with this Agreement, we will be liable for damages proximately
caused by the failure or error. However, there are some exceptions. We are not
liable, for instance:
If the Available Balance in your Account is not sufficient to
complete the transaction through no fault of ours.
If the ATM you use does not have enough cash.
If the failure is due to an equipment or system breakdown, such as
a problem with the Online Banking Services provided by the Program Partner,
that you knew about before you began a transaction.
The failure was caused by an Act of God, fire or other
catastrophe, or any other cause beyond our control despite reasonable
precautions we have taken.
If your funds are not available due to a hold or if your funds are
subject to legal process.
If we do not complete a transaction because we or Unit has reason
to believe the transaction is unauthorized or illegal.
If your Account is closed or inactive.
There may be additional exceptions stated in our or Unit’s
agreements with you or permitted by law.
Your Liability for Unauthorized EFTs
Contact us immediately if you
believe that an unauthorized EFT has occurred or may occur concerning your
Account, or if your debit card, ATM card, or Online Banking Services login
credentials have been lost, stolen or compromised. Calling us at 1-833-333-0417
for unauthorized debit card activity and emailing us at firstname.lastname@example.org for all
other unauthorized activity is the best way of keeping your losses to a
You could lose all the money in
your Account (and any bank accounts with other institutions you have linked to
your Account) if you take no action to notify us of the unauthorized EFT or the
loss or theft of your debit card, ATM card or Online Banking Services login credentials.
For unauthorized EFTs, your
liability will be as follows if you notify us of the loss:
If you tell us within two (2) business days after learning of the
loss, theft or compromise of your Online Banking Services login credentials,
you could be liable for no more than $50 in unauthorized EFTs.
If you do NOT tell us within two (2) business days and we can
prove that we could have prevented the loss had you contacted us, you could be
liable for as much as $500.00 in unauthorized EFTs.
If your statement shows EFTs that you did not make and you do NOT
contact us within sixty (60) days after the statement was made available to
you, you may not get back any money lost after the sixty (60) days if we can
prove that your contacting us would have prevent those losses.
We can extend these time periods
if extenuating circumstances (such as a long trip or hospital stay) kept you
from notifying us.
In Case of Errors or Questions About Your EFTs
Contact us by email at
email@example.com as soon as you can if you think your statement or receipt is
wrong or if you need more information about a transfer listed on a statement or
receipt. We must hear from you no later than sixty (60) days after we sent the
FIRST statement on which the problem or error appeared. You must provide us
with the following information:
Tell us your name and Account number.
Describe the error or the EFT you are unsure about and explain as
clearly as you can why you believe it is an error or why you need more
Tell us the dollar amount of the suspected error.
If you tell us orally, we may require that you send us your
complaint or question in writing by email within ten (10) business days.
determine whether an error occurred within ten (10) business days after we hear
from you and will tell you the results and correct any error promptly. If we
need more time, we may take up to forty-five (45) days—or ninety (90) days for
Accounts open less than thirty (30) days or foreign-initiated transactions — to
investigate your complaint or question. If we decide to do this, we will credit
your Account within ten (10) business days for the amount you think is in
error, so that you will have the use of the money during the time it takes us
to complete our investigation. If we ask you to put your complaint or question
in writing and we do not receive it within ten (10) business days, we may not
credit your account. For Accounts open less than thirty (30) days, we may take
up to twenty (20) business days to credit your Account for the amount you think
is in error.
We will communicate the results
of our investigation within three (3) business days after its completion. If we
decide that there was no error, we will send you a written explanation by
email. You may ask for copies of the documents that we used in our
Account may permit domestic wire transfers through Online Banking Services
provided to you by the Program Partner.
Types of Wire Transfers Supported by Your Account
Account may support domestic wire transfers. If wire services are made
available to you, your Account will be able to both receive and initiate wire
select any means for the transmission of funds that we consider suitable. We
may make use of correspondents, agents, subagents, and funds transfer and
communication systems. Such third parties shall be deemed your agents, and we
shall not be liable for any errors, delay, misdelivery, or failure of delivery
by any of them unless applicable law says otherwise.
not be liable for our inability to perform our obligations under this Agreement
when such inability arises out of causes beyond our control, including but not
limited to, any act of God, accident, labor disputes, power failures, system
failure, equipment malfunction, suspension of payment by another bank, refusal
or delay by another bank to accept the wire transfer, war, emergency
conditions, fire, earthquake, or the failure of any third party to provide any
electronic or telecommunication service used in connection with the execution
or cancellation of a wire transfer.
Limitations on Wire Transfers
limitations on the frequency and amount of transactions you can make to or from
your Account. These limits are different for each type of transaction. For
limits that apply to transactions that credit or deposit funds into your
Account, please refer to Section 3.1 concerning deposits. For limits that apply
to transactions that debit or withdraw from your Account, please refer to
Section 3.5 concerning withdrawals. There may be limits on the beneficiaries who
can receive a wire transfer you initiate from your Account. These
security-related limits may change from time to time.
Cut-Off Times for Wire Transfers
cut-off hours for processing wire transfers. If a wire request is received by
3:00 PM ET on a Business Day and verified through our security procedures
outlined in the section below titled “Security Procedures,” funds will be
processed the same business day. If it is received after 3:00 PM ET or on a
non-Business Day and verified through our security procedures, funds may be
processed the next business day.
treat any wire transfer request received at or after our cut-off time as if it
was received that business day, or we may treat it as if it were received at
the opening of the next business day.
and consent to the use of certain security procedures by us to confirm the
validity of the wire transfer request made pursuant to this Agreement. You
understand the security procedures are not designed to detect errors in the
content of the wire transfer request or to prevent duplicate transfers. Some
elements of the procedures will vary, depending upon the method used to
initiate a wire transfer. You hereby agree that your utilization of any
security procedure established hereunder shall constitute your agreement to its
use and affirmative acknowledgment of its commercial reasonableness.
further agree that any wire transfer request that is acted upon in good faith
by us in compliance with these security procedures, whether or not in fact
authorized by you, shall constitute an authorized wire transfer.
Liability for Incorrect Wire Transfers
responsible for providing us with the accurate name and account number for wire
transfers, and we are responsible for transmitting money to the account number
provide us with a name and account number in order for us to process a wire
transfer, we may make payment solely on the basis of the account number, even
if the account number identifies a person different from the beneficiary so
named. We or an intermediary bank may send a wire transfer to an intermediary
bank or beneficiary's/designated recipient's bank based solely on the bank
identifying number, even if the payment order indicates a different name. You
should be very careful when providing the account number for a wire transfer.
have provided us with the wrong account number, there may be no way to correct
the error or retrieve the funds. You agree that you will pay the amount of a
wire transfer even in such circumstances. You are responsible for any losses
resulting from an incorrect account number or your misidentification of the
think a wire transfer is wrong or if you need more information about a wire
transfer, you must contact us by email at firstname.lastname@example.org as soon as possible
and no later than fourteen (14) days after you receive your monthly statement.
If you don’t tell us about an error, we will not have any obligation to pay
interest on the amount of an unauthorized or erroneous wire transfer for which
we are liable, and you will also be liable to us for any damages or losses we
pay us the amount of the wire transfer, plus any applicable fees, before we
will execute the wire transfer request. Please see Section 3.13 of this
Agreement for fees applicable to wire transfers.
Execution of Wire Transfers
transfer request is considered accepted by us when we execute it. Please refer
to Section 5.3 concerning cut-off times for more details. You can verify
whether your wire transfer request has been executed through the Online Banking
no responsibility to accept any incoming wire transfer(s) for your benefit.
Likewise, we have a right to reject any wire transfer request(s) for an
outgoing wire transfer for reasons including, but not limited to, insufficient
or uncollected funds in the account specified in the wire transfer request, a
request that fails any requires security procedures, our inability to execute
the wire transfer for the reasons set out in the section of this agreement
entitled method used to make the wire transfer above, or if we are unable to
verify the authenticity of the wire transfer request. If we stop a domestic
outgoing wire transfer, we will refund the fee.
determine, in our sole discretion, not to honor, execute, or accept a wire
transfer request, we will make reasonable efforts to notify you. We will also
make reasonable efforts to notify you promptly if a wire transfer is returned
to us after its execution. In either case, we shall have no liability by reason
of our delay or failure to provide you with notice, and we shall have no
obligation to resend a wire transfer if we complied with the original wire
transfer request and such wire transfer was returned to us.
Cancellation or Amendment of Wire Transfer
receive a wire transfer request, it may not be able to be canceled or amended.
However, at our discretion, we may use reasonable efforts to act on any request
for cancellation or amendment, provided that the method by which we are
notified of a request for cancellation or amendment complies with our security
procedures. However, we shall have no liability if such cancellation or
amendment is not affected. You agree to indemnify and hold us harmless from any
and all liabilities, claims, damages, costs, and expenses we may incur in
attempting to cancel or amend the wire transfer. any cancellation or amendment
of a wire transfer by us shall relieve us of any obligation to act on the
original wire transfer request.
Our Liability for Failure to Complete a Wire Transfer
be responsible only for performing the wire transfer service expressly provided
for in this Agreement; provided however, we shall be liable only for our own
gross negligence or willful misconduct in performing such service. We shall not
be liable to any third party or for any act or omission of yours or any third
party, including, but not limited to, third parties used by us in executing a
wire transfer or performing a related act and no such third party shall be
deemed to be our agent. IN NO EVENT SHALL WE BE LIABLE FOR ANY DAMAGES OF ANY
KIND INCLUDING WITHOUT LIMITATION DIRECT, INDIRECT, PUNITIVE, SPECIAL,
INCIDENTAL OR CONSEQUENTIAL DAMAGES, LOST PROFITS, LOSSES OR EXPENSES ARISING
OUT OF OR IN CONNECTION WITH THE WIRE TRANSFER SERVICE, EVEN IF WE HAVE BEEN
ADVISED OF THE POSSIBILITY OF SAME. Except as otherwise provided by applicable
law, the maximum period for which we shall be liable for interest on any amount
to be refunded or paid to you with respect to an unauthorized, erroneous, or
other wire transfer request is thirty days.
Your Liability for Unauthorized Wire Transfers
otherwise provided by law, you shall be liable for any loss or damage to which
your negligence contributed or which resulted in unauthorized, fraudulent, or
dishonest acts by your current and/or former authorized representatives. Such
liability includes instances when a current or former authorized representative
effects one or more wire transfers or improper use of telephone security
procedures to effect a wire transfer to your detriment.
Compliance with Anti-Money Laundering and Exchange Control Regulations
and OFAC Enforced Sanctions
to observe all Anti-Money Laundering and Exchange Control laws and regulations
including economic and trade sanctions promulgated by the Office of Foreign
Assets Control of the U.S. Department of Treasury in relation to any wire
transfer, and you will use all reasonable endeavors to assist us to do
likewise. In particular, you agree that the information given to us by you is
accurate. We may disclose any information given to us that we in our sole
discretion think necessary or desirable to disclose; except we will only
disclose confidential information if required by law, a court, or legal,
regulatory, or governmental authority, or as permitted by law in order to
combat, prevent, or investigate issues arising under anti-money laundering
laws, economic sanctions, or criminal law.
legal, regulatory, or governmental authorities require additional information,
either in respect of individuals, entities, or particular transactions. You
agree to promptly supply all such information, which any such authority may
require, and/or which we may be required to supply, in relation to the
individual, entity, or particular transaction.
or your authorized representative, breach any such laws or regulations, you
irrevocably agree that we may retain any monies or funds transmitted to us
pursuant to this Agreement and/or not fulfill any wire transfer request if we
are required to take or refrain from such action by any legal, regulatory, or
governmental authority or if we reasonably believe that such action may violate
any laws or regulations described herein, and such monies shall not bear
interest against us. You further agree that we may pay such monies to the
appropriate legal, regulatory, or governmental authority, if and when required
Other Legal Terms and Conditions
Account and your obligations under this Agreement are not transferable and not
assignable as collateral for a loan or for any other purpose. We may transfer
our rights under this Agreement.
Legal Processes and Claims Affecting Your Account
receive a levy, attachment, or other legal process against you (collectively,
“Legal Process”), we may refuse to permit withdrawals or transfers from your
Account until the Legal Process is dismissed or satisfied. Any Legal Process
will be subject to our right of set-off and security interest. You are
responsible for any losses, costs or expenses we incur as a result of any
dispute or legal proceeding involving your Account. If we receive a claim
against the funds in your Account, or if we know of or believe that there is a
dispute as to the ownership or control of funds in your Account, we may, in our
discretion: (1) place a hold on your Account and refuse to pay out any funds
until we are satisfied that the dispute is settled; (2) close your Account and
send the balance to the named account holder; (3) require a court order to act;
or (4) take any other action we feel is necessary to protect us. We will not be
liable to you for taking any such action.
Limitation of Liability and Disclaimer of Warranty
REQUIRED BY LAW, WE ARE NOT LIABLE FOR ANY CLAIMS, COSTS, LOSSES, OR DAMAGES
RESULTING DIRECTLY OR INDIRECTLY FROM OUR FAILURE TO ACT, OR ANY DELAY BEYOND
TIME LIMITS PRESCRIBED BY LAW OR PERMITTED BY THIS AGREEMENT IF SUCH FAILURE OR
DELAY IS CAUSED BY MAINTENANCE OR INTERRUPTION OR MALFUNCTION OF EQUIPMENT OR
COMMUNICATION FACILITIES, UNUSUAL TRANSACTION VOLUME, SUSPENSION OF PAYMENTS BY
ANOTHER FINANCIAL INSTITUTION, FIRE, NATURAL DISASTERS, ELEMENTS OF NATURE,
GOVERNMENT ACTION, ACTS OF WAR, TERRORISM OR CIVIL STRIFE, EMERGENCY
CONDITIONS, OR OTHER CIRCUMSTANCES BEYOND THE REASONABLE CONTROL OF THE BANK.
EXCEPT AS REQUIRED BY LAW, OUR LIABILITY TO YOU FOR A CLAIM IS LIMITED TO THE
FACE VALUE OF THE ITEM OR TRANSACTION, OR THE ACTUAL VALUE OF ANY FUNDS NOT
PROPERLY CREDITED OR DEBITED. IN NO EVENT WILL WE OR UNIT BE LIABLE FOR ANY
CONSEQUENTIAL, INDIRECT, SPECIAL OR PUNITIVE DAMAGES EVEN IF YOU ADVISE US OF
THE POSSIBILITY OF SUCH DAMAGES.
REQUIRED BY LAW AND NOTWITHSTANDING ANYTHING TO THE CONTRARY, WE SHALL ONLY BE
RESPONSIBLE AND LIABLE FOR OUR OWN GROSS NEGLIGENCE OR WILLFUL MISCONDUCT IN
PERFORMING OUR OBLIGATIONS UNDER THIS AGREEMENT. WE SHALL NOT BE LIABLE TO ANY
THIRD PARTY OR FOR ANY ACT OR OMISSION OF YOURS OR ANY THIRD PARTY, INCLUDING,
BUT NOT LIMITED TO, THIRD PARTIES USED BY US IN EXECUTING ANY TRANSACTION
CONTEMPLATED BY THIS AGREEMENT OR PERFORMING A RELATED ACT AND NO SUCH THIRD
PARTY SHALL BE DEEMED TO BE OUR AGENT.
ADDITION, EXCEPT AS REQUIRED BY LAW, BLUE RIDGE BANK, N.A. ARE NOT LIABLE OR
RESPONSIBLE FOR ANY SERVICES OR FEATURES OF ANY ONLINE BANKING SERVICES
PROVIDED TO YOU BY THE COTERIE.ME, INC. WE ARE ALSO NOT LIABLE FOR ANY
UNAUTHORIZED ACCESS OF YOUR INFORMATION OR DATA BY A THIRD PARTY DUE TO YOUR
USE OF THIRD-PARTY COMMUNICATION CHANNELS NOT OFFERED BY US.
SERVICES AND ACCOUNT FEATURES ARE PROVIDED “AS IS” AND “AS AVAILABLE” WITHOUT
WARRANTY OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO,
THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE. WE
DO NOT WARRANT THE BANK’S SERVICES OR ACCOUNT FEATURES WILL MEET YOUR
REQUIREMENTS, BE CONTINUOUS, UNINTERRUPTED, SECURE, TIMELY, OR ERROR-FREE, OR
THAT DEFECTS WILL BE CORRECTED.
to indemnify and hold us and our officers, directors, shareholders, employees,
successors, predecessors, representatives, principals, agents, assigns,
parents, subsidiaries and/or insurers harmless for any losses, damages, suits
and expenses, including reasonable attorneys’ fees, that we may incur, without
regard to the merit or lack thereof, arising out of, or related in any way to
(1) the matters set forth herein; (2) our taking any action or not taking any
action that we are entitled to take pursuant to this Agreement; (3) any action
or omission by you; or (4) our action or inaction in reliance upon oral,
written or electronic instructions or information from you.
you agree to indemnify and hold Unit and its officers, directors, shareholders,
employees, successors, predecessors, representatives, principals, agents,
assigns, parents, subsidiaries and/or insurers harmless for any losses,
damages, suits and expenses, including reasonable attorneys’ fees, that we may
incur, without regard to the merit or lack thereof, arising out of, or related
in any way to (1) the matters set forth herein; (2) our taking any action or
not taking any action that we are entitled to take pursuant to this Agreement;
(3) any action or omission by you; or (4) our action or inaction in reliance
upon oral, written or electronic instructions or information from you.
Our Right of Set-Off and Security Interest
the right to set-off any liability, direct or contingent, past, present or
future that you owe against any account you have with us. This means that we
can take any funds in your Account or any other account you have with us to pay
any debt or liability you owe us. You also agree to grant us a security
interest in your Account to secure payment of any money that you owe to us or
will owe us arising under this Agreement or any other agreements with us. You
acknowledge that this security interest is consensual and in addition to any
right of set-off. We may exercise our security interest or right of set-off
without regard to the source of the funds in your Account or prior recourse to
other sources of repayment or collateral, even if it causes you to incur
penalties or suffer any other consequence. You waive any conditions or limits
to our right of set-off to the maximum extent permitted by law. We will notify
you if we exercise our right to set-off if required by law.
take any action to collect debt incurred by you or other amounts you owe us
under this Agreement or defend ourselves in a lawsuit brought by you where we
are the prevailing party, you agree to reimburse us for our losses, including,
without limitation, reasonable attorneys’ fees, to the extent permitted by
applicable law. We may charge your Account for our losses without prior notice
Changes in Terms and Additional Services
change this Agreement, or any fees and features of your Account, at any time by
posting an amended Agreement on The Coterie’s website, www.thecoterie.me , and any such amendment shall be effective
upon posting. We will give you advance notice of any change where required by
law. We may provide such notice to you with your statement, electronically, or
by mail. Any notice we provide to you will be binding and sent to the last
(postal or electronic) address in our records. We may change your address if we
receive an address change notice from the U.S. Postal Service. We may change or
terminate this Agreement without notice at our discretion or to comply with any
appropriate federal or state law or regulation.
make any of our other banking services available to you in connection with your
Account, we may provide certain terms and conditions for those additional
services to you in a separate agreement or disclosure.
No Waiver of Rights
waive or decline to enforce any of our rights under this Agreement without
obligating ourselves to waive such rights in the future or on any other
occasion. We may release any other person obligated under this Agreement
without affecting your responsibilities under this Agreement.
Conflicts and Section Headings
is a conflict between this Agreement and any other document or statement made
to you concerning the Account, this Agreement will govern. If there is a
conflict between this Agreement and any other document or statement made to you
concerning any services or products other than the Account, the separate terms
and conditions applicable to that service or product will govern. Section
headings that appear in this Agreement are for convenience purposes only and
are intended to help you find information. They should not be construed as
affecting the meaning of the Agreement
event that any court or tribunal of competent jurisdiction determines that any
provision of this Agreement is illegal, invalid or unenforceable, the remainder
of this Agreement shall not be affected. To the extent permitted by law, the
parties waive any provision of law which prohibits or renders unenforceable any
provisions of this Agreement, and to the extent that such waiver is not
permitted by law, you and us agree that such provision will be interpreted as
modified to the minimum extent necessary to render the provisions enforceable.
Governing Law, Forum and Time Limits
actions relating to your Account and this Agreement will be governed by the
laws and regulations of the United States and the State of Virginia where your
Account will be opened, irrespective of conflict of law principles. You agree
that any dispute arising under this Agreement or relating in any way to your
relationship with us that is not arbitrated will be resolved in a federal or
state court located in Virginia and that
you will be subject to such court’s jurisdiction.
where prohibited by law, you agree that you must file any lawsuit or
arbitration against us within two (2) years after the claim arises unless
federal or Virginia law, or another agreement you have with us, provides for a
shorter time. If federal or Virginia law requires a longer time period than the
time periods in this Agreement, you agree to the shortest time period permitted
under the law.
THAT YOU HAVE READ THIS PROVISION CAREFULLY AND UNDERSTAND THAT IT LIMITS YOUR
RIGHTS IN THE EVENT OF A DISPUTE BETWEEN YOU AND US.
Election to Arbitrate
Coterie.Me, Inc., and the Bank agree that the sole and exclusive forum and
remedy for resolution of a Claim be final and binding arbitration pursuant to
this Section 7 (the “Arbitration Provision”). As used in this Arbitration
Provision, “Claim” shall include any past, present, or future claim, dispute,
or controversy involving you (or persons claiming through or connected with
you), on the one hand, and us on the other hand, relating to or arising out of
this Agreement, and/or the activities or relationships that involve, lead to,
or result from this Agreement, including the validity or enforceability of this
Arbitration Provision, any part thereof, or the entire Agreement. Claims are
subject to arbitration regardless of whether they arise from contract; tort
(intentional or otherwise); a constitution, statute, common law, or principles
of equity; or otherwise. Claims include matters arising as initial claims,
counter‐claims, cross-claims, third-party claims, or otherwise. Please note
that you may continue to assert Claims in small claims court, if your Claims
qualify and so long as the matter remains in such court and advances only on an
individual (non-class, non-representative) basis. The scope of this Arbitration
Provision is to be given the broadest possible interpretation that is
Applicability of the Federal Arbitration Act; Arbitrator’s Powers
Arbitration Provision is made pursuant to a transaction involving interstate
commerce and shall be governed by and enforceable under the Federal Arbitration
Act (the “FAA”). The arbitrator will apply substantive law consistent with the
FAA and applicable statutes of limitations. The arbitrator may award damages or
other types of relief permitted by applicable substantive law, subject to the
limitations set forth in this Arbitration Provision. The arbitrator will not be
bound by judicial rules of procedure and evidence that would apply in a court.
The arbitrator shall take steps to reasonably protect confidential information.
Informal Dispute Resolution
Claim arises, our goal is to address your concerns and, if we are unable to do
so, to provide you with a neutral and cost effective means of resolving the
dispute quickly. You agree that before filing any claim in arbitration, you
will first submit your Claim to us by email at email@example.com and provide
us with the opportunity to resolve your concern prior to initiating
initiating arbitration shall do so with the American Arbitration Association
(the “AAA”) or Judicial Alternatives and Mediation Services (“JAMS”). The
arbitration shall be conducted according to, and the location of the
arbitration shall be determined in accordance with, the rules and policies of
the administrator selected, except to the extent the rules conflict with this Arbitration
Provision or any countervailing law. If you have any questions concerning the
AAA or would like to obtain a copy of the AAA arbitration rules, you may call
1(800) 778-7879 or visit the AAA's web site at: www.adr.org. If you have any questions concerning JAMS
or would like to obtain a copy of the JAMS arbitration rules, you may call
1(800) 352-5267 or visit their web site at: www.jamsadr.com. In the case of a conflict
between the rules and policies of the administrator and this Arbitration
Provision, this Arbitration Provision shall control, subject to countervailing
law, unless all parties to the arbitration consent to have the rules and
policies of the administrator apply. The arbitration will be held in the United
States county where you live or work, or any other location we agree to.
elect arbitration, we shall pay all the administrator's filing costs and
administrative fees (other than hearing fees). If you elect arbitration, filing
costs and administrative fees (other than hearing fees) shall be paid in
accordance with the rules of the administrator selected, or in accordance with
countervailing law if contrary to the administrator's rules. We shall pay the
administrator's hearing fees for one full day of arbitration hearings. Fees for
hearings that exceed one day will be paid by the party requesting the hearing,
unless the administrator's rules or applicable law require otherwise, or you request
that we pay them and we agree to do so. Each party shall bear the expense of
its own attorneys' fees, except as otherwise provided by law. If a statute
gives you the right to recover any of these fees, these statutory rights shall
apply in the arbitration notwithstanding anything to the contrary herein.
days of a final award by the arbitrator, any party may appeal the award for
reconsideration by a three-arbitrator panel selected according to the rules of
the arbitrator administrator. In the event of such an appeal, any opposing
party may cross-appeal within 30 days after notice of the appeal. The panel
will reconsider de novo all aspects of the initial award that are appealed.
Costs and conduct of any appeal shall be governed by this Arbitration Provision
and the administrator's rules, in the same way as the initial arbitration
proceeding. Any award by the individual arbitrator that is not subject to
appeal, and any panel award on appeal, shall be final and binding, except for
any appeal right under the Federal Arbitration Act (“FAA”), and may be entered
as a judgment in any court of competent jurisdiction.
No Class Actions
ARBITRATION SHALL PROCEED ON A CLASS, REPRESENTATIVE, OR COLLECTIVE BASIS
(INCLUDING AS PRIVATE ATTORNEY GENERAL ON BEHALF OF OTHERS), EVEN IF THE CLAIM
OR CLAIMS THAT ARE THE SUBJECT OF THE ARBITRATION HAD PREVIOUSLY BEEN ASSERTED
(OR COULD HAVE BEEN ASSERTED) IN A COURT AS CLASS REPRESENTATIVE, OR COLLECTIVE
ACTIONS IN A COURT. Unless consented to in writing by all parties to the
arbitration, no party to the arbitration may join, consolidate, or otherwise
bring claims for or on behalf of two or more individuals or unrelated corporate
entities in the same arbitration unless those persons are parties to a single transaction.
Unless consented to in writing by all parties to the arbitration, an award in
arbitration shall determine the rights and obligations of the named parties
only, and only with respect to the claims in arbitration, and shall not (a)
determine the rights, obligations, or interests of anyone other than a named
party, or resolve any Claim of anyone other than a named party; nor (b) make an
award for the benefit of, or against, anyone other than a named party. No
administrator or arbitrator shall have the power or authority to waive, modify,
or fail to enforce this Section 7.7, and any attempt to do so, whether by rule,
policy, arbitration decision or otherwise, shall be invalid and unenforceable.
Any challenge to the validity of this Section 7.7 shall be determined
exclusively by a court and not by the administrator or any arbitrator.
Survival and Severability of Arbitration Provision
Arbitration Provision shall survive the termination of this Agreement. If any
portion of this Arbitration Provision other than Section 7.7 is deemed invalid
or unenforceable, the remaining portions of this Arbitration Provision shall
nevertheless remain valid and in force. If there is a final judicial
determination that applicable law precludes enforcement of this Arbitration
Provision’s limitations as to a particular claim for relief or particular term,
then that claim (and only that claim) or that term (and only that term) must be
severed from the Arbitration Provision and may be brought in court. If an
arbitration is brought on a class, representative, or collective basis, and the
limitations on such proceedings in Section 7.7 are finally adjudicated pursuant
to the last sentence of Section 7.7 to be unenforceable, then no arbitration
shall be had. In no event shall any invalidation be deemed to authorize an
arbitrator to determine Claims or make awards beyond those authorized in this
Judicial Forum for Claims
otherwise required by applicable law, in the event that this Arbitration
Provision is found not to apply to you or your Claim, you and the Bank agree
that any judicial proceeding (other than small claims actions) will be brought
in the federal or state courts of Virginia. Both you and the Bank consent to
venue and personal jurisdiction there. We both agree to waive our right to a
WAIVER OF RIGHT TO LITIGATE
PARTIES ACKNOWLEDGE THAT THEY HAVE A RIGHT TO LITIGATE CLAIMS THROUGH A COURT
BEFORE A JUDGE OR JURY, BUT WILL NOT HAVE THAT RIGHT IF ANY PARTY ELECTS
ARBITRATION PURSUANT TO THIS ARBITRATION PROVISION. THE PARTIES HEREBY
KNOWINGLY AND VOLUNTARILY WAIVE THEIR RIGHTS TO LITIGATE SUCH CLAIMS IN A COURT
BEFORE A JUDGE OR JURY UPON ELECTION OF ARBITRATION BY ANY PARTY.