ANNEXURE ‘C’
Date: ----------------------
M/s………………………………
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Terms and conditions for availing Virtual Account Number (VAN) Service
1. State Bank Virtual Account Number (VAN) is available to corporate customers,
i.e. Firm / Company/ Institution, who are having a Khata Plus / Vyapaar / Vistaar
facility under CINB.
2. The application to avail the facility should be submitted to the Branch where
the corporate customer maintain their CINB account, along with the following
documents:
a. Copy of the generated Virtual Account Number (VAN) Page.
b. Authorization from Firm/Company/Institution for availing Virtual Account
Number (VAN) service.
c. Duly filled in and signed agreement letter for availing Virtual Account Number
(VAN) service.
3. The corporate customer and its beneficiaries can operate Virtual Account
Number only after the Circle authorizes and enables the facility.
4. The facility will be provided only to the account mentioned in the application
form.
5. The OnlineSBI / Virtual Account Number (VAN) service cannot be claimed as a
right. The Bank reserves all the rights to alter or cancel the service anytime, if so
warranted, after it has been made available to the corporate customer.
6. The rules and regulations applicable to the banking transactions will be
applicable mutatis mutandis for the transactions done through the OnlineSBI for
State Bank Virtual Account Number (VAN) service.
7. The Bank will take reasonable care to make use of the available technology for
ensuring security and preventing unauthorized access to any of the services offered
through the OnlineSBI for Virtual Account Number (VAN) service.
8. The corporate customer shall not upload any data / information of offensive
or malicious content in the State Bank Virtual Account Number (VAN) page and the
corporate customer is solely responsible for the information uploaded in the State
Bank Virtual Account Number field. The corporate customer shall be liable for all
actions and claims, if any, lodged by the user / Beneficiary or any third party in
respect of the information uploaded in the page and for the services provided by the
corporate customer.
9. The corporate customer should comply with the applicable laws and
regulations in connection with the services and the Bank shall not be responsible in
any manner whatsoever.
10. The Corporate customer shall ensure that any claim for refund of amount paid
or any dispute in respect of the services provided by the corporate customer, raised
by the user shall be resolved and settled by the corporate customer directly and the
Bank shall not be made a party to such claim or dispute under any circumstances.
11. The Bank reserves the right to modify, change, add, alter or cancel any of the
services offered through OnlineSBI / Virtual Account Number (VAN) or the Terms and
Conditions in Agreement listed in this Document without prior notice to the
corporate customer. The changes will be notified to the corporate customer through
a notification on the Site / written communication on their official address.
Branch Manager
……………………………………..Branch
I/We accept the terms and conditions.
For Firm / Company / Institution
DATE: -------------------------------------------
(Authorized Signatory / Signatories)
