AGREEMENT
Banco Rendimento S.A., with its principal place of business at Av. das Nações Unidas, n.º 8501, 10º th Floor, in São Paulo, State of São Paulo, enrolled with the CNPJ/MF under No. 68.900.810/0001-38, hereinafter referred to as BANCO RENDIMENTO, and the ACCOUNT HOLDERS(S) qualified in the Bank Account Opening Proposal/Agreement, hereinafter referred as such, enter into a Bank Account Agreement, which shall be governed by the provisions set forth below, subject to the applicable legal regulations and any amendments thereto.
SECTION ONE - BANCO RENDIMENTO opens to the ACCOUNT HOLDER(S) a bank account identified in the Bank Account Opening Proposal/Agreement. 1) As this is a bank account, it may be operated by means of orders, checks or any other manner provided for by the Central Bank of Brazil. 2) The provision of checkbooks shall depend on the absence of data record restrictions, including Record of Issuers of Dishonored Checks - CCF, in the name of the ACCOUNT HOLDER(S), person(s) in charge, or their Attorney(s)-in-fact. 3) The ACCOUNT HOLDER(S) is/are further agree to comply with the conditions and/or guidelines included in the front cover and back cover of the checkbooks, in the requests of checkbooks and in the rules of the Central Bank of Brazil. 4) The ACCOUNT HOLDER(S) agree(s) to communicate to BANCO RENDIMENTO any and all change occurred or that may occur with respect to. a) bylaws/articles of association); b) public or private powers of attorney of limited or indefinite term, which may affect BANCO RENDIMENTO regarding the operation of the Bank Account. Mandates, powers of attorney, or any other instructions through public or private instrument of an indefinite term, and also those for a limited term before the expiration date, shall only be regarded as revoked or cancelled for all effects upon receipt of written communication in connection therewith, and BANCO RENDIMENTO shall be held harmless from any and all liability in the absence of such provision; c) any change of address, phone number and other important data to communicate with the ACCOUNT HOLDER(S). In case there is no communication, any correspondence forwarded by the BANK to the address previously provided shall be deemed received for all effects. 5) Sums deposited by check will only be available after check clearance.
SECTION TWO - Depending on the option checked in the Proposal Form for Opening of Bank Account, the account shall have the following characteristics: a) Joint-Signature Account: shall be operated or closed jointly by its holders, who shall be jointly liable for the settlement of any outstanding balance; b) Joint Account: shall be operated or closed individually or jointly by any of its holder, who shall be jointly liable for the settlement of any outstanding balance; c) Account Held by Relatively Incompetent Minor (between 16 and 21 years-old): shall be operated individually by the holder, over 16 and under 21 years-old, who may issue and endorse checks, operate the account, as provided for in this agreement, and who shall be authorized for such purpose by the person in charge thereof, who also signs this instrument; d) Account Held by Absolutely Incompetent Minor (under 16 years-old): shall be operated by their legal representatives, who sign this instrument.
SECTION THREE - At the request of the ACCOUNT HOLDER(S), BANCO RENDIMENTO may release amounts corresponding to check deposits still to be cleared, provided that they are not issued by the account holder(s) themselves or their Attorney(s)-in-fact. Sole paragraph - The prevailing rates for active operations in general shall be charged on the amounts released by BANCO RENDIMENTO at the time of release, in addition to Tax on Financial Transactions - IOF, as well the services fee in force at the time of release.
SECTION FOUR - The ACCOUNT HOLDER(S) is/are aware that their names shall be included in the Record of Issuers of Dishonored Checks - CCF in case of checks returned for insufficient funds upon Second presentation, due to account closing, or if they perform spurious acts, as defined by the Central Bank of Brazil, in which case BANCO RENDIMENTO shall have the option to maintain or close the account, the ACCOUNT HOLDER(S) being, in any case, required to immediately return the checkbooks in their possession or provide a statement that they rendered such checkbooks useless.
SECTION FIVE - The ACCOUNT HOLDER(S) name(s) shall be automatically excluded from the Record of Issuers of Dishonored Checks after the period set forth by the Central Bank has elapsed, or at any time as long as the ACCOUNT HOLDER(S) prove(s) the payment of the check that gave rise to the case, or regularize the debt resulting from spurious practice, or further by order of the Central Bank.
SECTION SIX - The agreement shall be effective for ninety (90) days, and may be automatically and successively renewed for equal periods. 1) - After the effectiveness of this agreement or any renewal hereof, upon a statement by either Party, said bank account shall be deemed to be closed. 2) - Regardless of the expiration date established, the ACCOUNT HOLDER(S) shall have the option to terminate this agreement at any time upon notice to BANCO RENDIMENTO. 3) - BANCO RENDIMENTO shall forward to the account holder the “Instrument of Closing of Accounts” containing all the information related to the account to be closed, a statement of the commitments with which the ACCOUNT HOLDER(S) shall comply, detailing the types and amounts to be settled, as well as the rules and conditions to be met for the actual closing of said account. 4) - BANCO RENDIMENTO shall have to close the account within 30 days from the date of return of the “Instrument of Closing of Accounts,” duly executed by the client, except if the account has an outstanding balance. 5) - After the date of acceptance of the request, any maintenance fees accruing on said account shall be suspended, including that relating to the current month. 5) - If, at the time of the termination provided for in this section, there is any balance in the bank account in favor of the ACCOUNT HOLDER(S), such balance shall be transferred to the Bank and account designated by the account holder, or the amount shall be made available to the account holder by means of a Payment Order. 6) - The ACCOUNT HOLDER(S) shall maintain sufficient funds for settlement of commitments undertaken before BANCO RENDIMENTO or arising out of legal provisions. 7) - The request for closing of account shall be accepted even if there are suspended, revoked or cancelled checks for any reason, which, if presented within the limitation period, shall be returned for respective reasons, even after the closing of the account, the issuer not being discharged of their legal obligations. 8) - The expiration of this agreement may be accelerated in the following situations, at the discretion of BANCO RENDIMENTO 8-a) - if the average monthly balance of the bank account does not reach the minimum amount established by BANCO RENDIMENTO and disclosed in the service fee schedule mentioned in Section Three. 8-b) - if the ACCOUNT HOLDER(S) operated the account irregularly, thus breaching the rules and regulations of good banking practice, according to BACEN legislation. 9) - In the above cases, BANCO RENDIMENTO may request the closing of the account, communicating the ACCOUNT HOLDER(S) in advance by mail and attaching the “Instrument of Closing of Accounts.” 10) - After completion of the process, the Bank shall send a notice to the ACCOUNT HOLDER reporting the date of actual closing of the account and suspending the collection of fees on said account at any title. 11) - In the event BANCO RENDIMENTO verifies that the account is dormant due to lack of spontaneous operation, the ACCOUNT HOLDER shall be informed in this respect ninety (90) days after Bank’s verification, warning the ACCOUNT HOLDER against the collection of a maintenance fee, even if the account remains dormant operation and with no balance and that it may be closed after 6 months of dormancy. 12) – After this period of 6 months, should the account remain dormant, BANCO RENDIMENTO shall request, in writing, that the ACCOUNT HOLDER state, within thirty (30) calendar days, whether they wish to resume account operation or to close it. And for this purpose, the bank shall attach the “Instrument of Closing of Accounts.”
SECTION SEVEN - The JOINT ACCOUNT HOLDERS agree that in this event, the account may be closed by any of the holders, individually.
SECTION EIGHT - BANCO RENDIMENTO, in accordance with the rules of the Central Bank of Brazil, may destroy all checks that have been cleared, provided that they are microfilmed, reserving the ACCOUNTING HOLDER(S) the right to request copies in any event.
SECTION NINE - In case of any outstanding balance in the bank account, this agreement shall become early terminated, with the consequent closing of the account, regardless of judicial or extrajudicial notice or notification, and a penalty fee shall be charged thereon for each day in arrears, calculated on the amount due and payable until the date of actual settlement of the debt. BANCO RENDIMENTO shall be entitled to require market rate on the day of payment.
SECTION TEN - BANCO RENDIMENTO and the ACCOUNT HOLDER(S) agree that this agreement is an execution instrument and may be enforced for collecting any outstanding balance, duly accompanied by the bank account statements thereof.
SECTION ELEVEN - The taking of any measure by BANCO RENDIMENTO for collection of any outstanding balances in the bank account shall not constitute a breach of banking secrecy, including specialized third parties contracted to do so.
SECTION TWELVE - If any debits of the ACCOUNT HOLDER(S) and/or their GUARANTOR(S) arising from credit agreements and/or transactions or any other agreement entered into with BANCO RENDIMENTO or any one of its affiliates still remain, BANCO RENDIMENTO may settle, pursuant to article 1009 of the Civil Code, any credit due or becoming due that they have or may have with BANCO RENDIMENTO and/or said institutions, as represented by securities of any kind or nature, financial investments, whether represented by Securities Trading Notes - Sales or not, as well as free operation bank account balances. Settlement shall be independent of judicial or extrajudicial notice or notification, the accounting entries being sufficient.
SECTION THIRTEEN - Bank account statements shall remain available to the ACCOUNT HOLDER(S) at the Branch mentioned in the Bank Account Opening Proposal/Agreement or shall be mailed upon request to the address the ACCOUNT HOLDER(S) shall indicate, and BANCO RENDIMENTO shall have the option to require the refund of the corresponding expenses, which shall be charged to the bank account.
SECTION FOURTEEN - BANCO RENDIMENTO may charge or debit to the ACCOUNT HOLDER(S)’ bank account the amount of fees, tariffs, and expenses, whether current or as may be provided for or established by BANCO RENDIMENTO, in accordance with the rules of the Central Bank of Brazil, regardless of the amount in the bank account. Sole paragraph: BANCO RENDIMENTO shall maintain in its Branches, in a prominent place to be viewed by the public, a schedule of fees charged for the provision of its Services.
SECTION FIFTEEN - The ACCOUNT HOLDER(S) authorize BANCO RENDIMENTO, in the event of use of services of Financial Investments and Investment Funds, as well as redemptions related thereto, to execute receipts and make debits/credits to bank account, including orders given by phone.
SECTION SIXTEEN - The ACCOUNT HOLDER(s) expressly, irrevocably and irreversibly authorize(s) BANCO RENDIMENTO S.A. to provide and inquire information contained in the Consolidated Information System of the Central Bank of Brazil (SIC-BACEN), as well as the Credit Risk Center (Resolution CRC No. 2724), as well as the Central System of Credit Protection (SPC), Centralização dos Serviços dos Bancos S/A (SERASA), and other Agencies or entities providing centralized information and collection services.
SECTION SEVENTEEN - THE ACCOUNT HOLDER HEREBY ADHERES TO RENDIMENTO’S STANDARDIZED FEES PACKAGE AND IS AWARE THAT THEY WILL IS SUBJECT TO THE FEES INCLUDED IN THE SCHEDULES AVAILABLE ON THE SITE WWW.RENDIMENTO.COM.BR. IF THE ACCOUNT HOLDER DOES NOT WANT TO ADHERE TO THE PACKAGE OF FEES, PLEASE CHECK HERE ( ).
SECTION EIGHTEEN - THE ACCOUNT HOLDER IS AWARE THAT THEY MAY OPT FOR THE USE OF INDIVIDUALIZED FEES AND PAYMENT SERVICES, IN ADDITION TO THE FREE SERVICES IN ACCORDANCE WITH THE RULES IN FORCE.
SECTION NINETEEN – The parties elect the Courts of the Capital City of the State of São Paulo to resolve any doubts arising out of this agreement, unless BANCO RENDIMENTO opt for the Court of the ACCOUNT HOLDER(S)’ domicile.
