TERMS AND CONDITIONS FOR LOTTE FINANCE CREDIT CARD

 (Effective from 01/04/2019)

A copy of the comprehensive agreement between Lotte Finance Vietnam One-member Limited Company and Customer consists of Terms and conditions for LOTTEFinance Credit Card, Credit Card Application and Agreement on Credit Card’s Issuance and Use, Service fees and interests, and specific terms and conditions for each program and special service (if applicable).

If agreeable, since signing the Credit Card Application and Agreement on Credit Card’s Issuance and Use, and having an approval of the LOTTEFinance on Credit card issuance, the Customer will be binding under this Credit Card Terms and Conditions. 

Article 1: Interpretation of Terms

The terms used in this Credit Card Terms and Conditions will be interpreted as follow:

1.   LOTTEFinance or “Lotte Fin”: Lotte Finance Vietnam One-member Limited Company, the Company Code is 0103172804.       

2.  Card holder: An individual or organization LOTTEFinance agrees to provide the card for card transactions based on terms and conditions agreed on by the involved parties. Card holders include primary card holder and supplementary card holder(s).

3.   Primary card holder: An individual/organization whose name is in the agreement on card use with LOTTEFinance and holds responsible for the implementation of that agreement’s contents.

4.  Supplementary card holder: An individual allowed to use the Card by the Primary card holder according to agreement on the card use between the Primary Card holder and LOTTEFinance.

5.   International Card Organization (ICO): is an organization established in a foreign country in accordance with the local laws and has agreement with card issuing organizations, payment card organizations and other related parties to issue payment cards and make card payments with the code of card issuer assigned by international card organization in accordance with Vietnam’s law and international commitments such as VISA) MASTER….

6.    Card payment organization (CPO): is a bank or non-banking organizations that is allowed to make card payments under the regulations of Vietnam’s State Bank and ICO.

7.   Card accepting unit (CAU): refers to organizations or individuals providing goods and services, cash advance places in which cards are accepted as a means of payment, including online CAOs (selling goods and providing services via electronic channels).

8.   ATM (Automatic Teller Machine): Automatic transaction machine. A device allows card holders to send, transfer, draw money, look up the transactions or other services

9.   EDC (Electronic Data Capture): is a device used to read electronic cards and to accept payment cards at retail or service supplying places.

10. Transaction: refers to the action in which card holders use the card and/or card’s information to make cash drawal, cash payment for goods or services or other services approved by LOTTEFinance and Laws.

11. Spending: Transactions made by the physical card or the Card information for goods, and services used by the Card holder, except withdraw and cash advance.

12. Improper transaction/Uncleared transaction: The verification of non-qualified transactions. The system records these transactions, reduces the available limit, and not creates debit balance for the card holder. 

13. Cleared transaction: Transactions are successful proceeded by the Card holder and cleared by the Card Acceptance Unit. These transactions create debit balance for the Card holder. 

14.  Credit Card Application and Agreement on Credit Card’s Issuance and Use (Registration): Documents perform and confirm the Card holder’s demand on the Credit card use issued by the LOTTEFinance. The Card holder understands and holds responsible for the Card issuance request.  The registration form can be amended by the LOTTEFinance periodically. The Card holder shall provide properly and fully required information under the form.

15.  “Agreement on Card Issuance and Use”: All agreements between the LOTTEFinance and the Card holder on credit limit, card issuance and use, includes but not limits:  Registration form, terms and conditions for this Credit Card, Service fees and interests, insurance terms and conditions, service programs, special promotion conditions, other documents as a part of the Agreement on card issuance and use; relevant amended, substituted, and additional documents.

16.  Credit limit: A credit limit is authorized by the LOTTEFinance for the Card holder’s use. Each customer of the LOTTEFinance holds only one credit limit.

17.  Credit card account/Account: A credit card account is issued by the LOTTEFinance for the Card holder to manage its Credit Limit approved. The Account Limit is less than or equal to the Credit Card. The subplement card is associated with the primary card account.

18.  Credit card: A card that allow the Card holder to perform transactions in the Credit limit issued by the LOTTEFinance.

19.  PIN (Identification Number of the Card holder): A identify code is used in several transactions by the Card to verify the Card holder’s approval. The original (or reissued) PIN is issued by the LOTTEFinance, then the Card holder can follow a certain process and change it for the Card transaction. The Card holder holds responsible for PIN security.

20.  CVV2/CVC2: A three-digit number sequence printed on the physical card is used for online transactions or transactions without card presence for the transaction security.

21.  OTP (One Time Password): One-time password is a number sequence or a sequence of characters randomly generated by the LOTTEFinance and sent to the Card holder to confirm the transactions and valided during a certain time.

22.  Installment Program: A function that allows the Card holder of the LOTTEFinance to transfer one or several transactions for comsumption (except withdraw/cash advance) in many times while value of transactions by the Card is arranged into equal amounts and proceeded for consecutive payment periodically. 

23.  Principle debit balance: Total amount of cleared transactions by the Card. The principle debit balance includes debit balance for consumption, withdraw, cash advance, or principle of deferred installment amount without fees and interests. 

24.  Deferred installment amount: Payable for installment program that the Card holder entered comes to be expired according to the account statement.

25.  Available limit (AL): Total maximum amount that the Card holder can process at a certain time.

26.  Cancel installment: Transfer of undue-date installment amounts to normal debit balance of the Credit card to be charged of interests right at the time of installment cancellation.

27.  Installment debit balance clearance: Customer requests on periodic installment amount payment and undue-date installment amounts, without payment for other debit balances of the Card.

28.  Statement: A monthly specific statement of the credit card that lists all transactions by the Card noted into the Card account periodically; interests on fees arisen, last periodic debit balance, installment amounts, periodic cleared amounts, and adjusted amounts (if available); debit balance based on the statement; minimum payment; due date, and other informations according to LOTTEFinance regulations periodically.

29.  Statement Date: The date that the LOTTEFinance create a statement for the Card holder. The Card holder selects a date for monthly payment on the Credit card based on the list provided by the LOTTEFinance. The LOTTEFinance creates and send the statement to the Card holder before the day of monthly payment. 

30.  Periodic statement: Start from the day after the date of last periodic statement to the end of the day of the current statement. 

31.  Due date: The last day for the Card holder’s payment on minimum amount. The due date is a business day and written in monthly statement.

32.  Debit balance on the statement: Amount confirmed on the statement, total debit balance on the credit card of the Card holder at the statement date, including periodic cleared debit balance, fees, interests arisen, deferred installment amount, and last periodic balance, surplusing periodic payment.

33.  Minimum payment: Number written on the statement. The Card holder shall perform proper and full payment to not be recognized as overdue.

34.  Reward points (Loyalty points): Points are accrued from the LOTTEFinance consumption promotion programs, and then redeemed to rewards or cash periodically or at the Cardholder’s request in accordance with LOTTEFinance regulations. Rewards points have expiration time.

35.  Payment Code: The payment code is opened right at the Bank that has corporated with the LOTTEFinance, and issued by the LOTTEFinance to proceed payment on the credit card’s debit balance. 

36.  Signature: The Cardholder’s hand signature or electronic signature in accordance with the law.

37.  Credit Card Counterfeit/Fraud: Transactions by Credit Card Counterfeit/Fraud and unauthorized usage.

38.  Business day: Days that the LOTTEFinance opens for the Card holder’s transactions according to its regulations.

39.  Call Center: Customer care center of the LOTTEFinance.

40.  Website of the LOTTEFinance: www.lottefinance.vn

Article 2. Card selecion, issuance and receipt

1.   Customer should understand correctly the LOTTEFinance credit card products and show your choice by filling in the Application.

2.  LOTTEFinance will be based on customers’ needs as well as our own evaluation criteria and information to make decisions. LOTTEFinance have the rights to agree or refuse to grant, re-issue, replace, extend credit cards to customers as well as to set a credit limit, cash advance limit and other transaction limits for your usage.

3.  LOTTEFinance sends card / PIN to the primary Cardholder by the methods that we decide to be appropriate and safe. Primary Cardholder is confirmed the card receipt and responsible for any risks arising on the card by their approval signature of receipt of the card from LOTTEFinance or the supplier assigned by LOTTEFinance; or the success of card activation; or after any Cardholder successfully performs the first transaction.

 Article 3 Primary card and Supplementary card

1.  LOTTEFinance can issue Supplementary Card if the Primary Cardholder requests and LOTTEFinance defines the Primary Cardholder and Supplementary Cardholder to be eligible to issue Supplementary Credit Cards. The issuance of credit cards to Supplementary Cardholders will depend entirely on LOTTEFinance's decision. The maximum number of Supplementary Cards issued with a main card is regulated by LOTTEFinance from time to time.

2.  The Supplementary Card(s) share the same Primary Cardholder's card account and it is allowed to perform transactions as the Primary Card, unless Primary Cardholder has other request.

3.  Transactions of Primary Card and Supplementary Card (s) are shown on the same statement and sent to the Primary Cardholder for payment.

4.  Primary card holder and Supplementary Cardholder (s) must abide by the Card Issuance and Use contract. Any action by the Supplementary Cardholder (including any breach of the Card Issuance and Use Contract) is also the responsibility of the Primary Cardholder and the Primary Cardholder committing to reimburse LOTTEFinance entirely. loss and damage caused by the Primary Cardholder and Supplementary Cardholder (s) (if any).

5. Supplementary cardholder is jointly responsible to the Primary Cardholder for transactions related to Supplementary Card.

6.  The primary cardholder has the right to perform all requests related to the Supplementary Card without Supplementary Cardholder (s)’ confirmation such as: Supplementary Card lock, activation, renewal, replacement and receipt, PIN re-activation and receipt, termination the use of the Supplementary Cardholder and change the transaction, etc.

7.  Supplementary Cardholders are limited to only a few requirements: request to provide information and transactions on Supplementary cards, request to lock the cards; PIN reissue; In case the Supplementary Card is locked because Primary Cardholder entered the PIN incorrectly over the prescribed number of times, the Supplementary Cardholder may request LOTTEFinance to delete the wrong number of PINs to be able to re-enter the PIN.

8.  If the Primary Cardholder terminates the Card, the use of Supplementary Cardholder shall automatically terminate.

Article 4. Scope of Credit Card

1.  Credit cards are used to pay legitimate goods and services according to the provisions of Vietnamese law, including cases of purchasing goods and services abroad;

2. Credit cards can be withdrawn and cashed in the country and abroad depending on the card products of LOTTEFinance and according to the provisions of law;

3. Credit card can perform non-financial functions such as balance inquiry, statement, PIN change, etc. in accordance with LOTTEFinance regulations from time to time.

4.  When using a credit card, the Cardholder must use for the right purpose and pay the loan, fee and interest on time arising from the use of the card.

5.  Credit card cannot be used for bank transfer; The Cardholder is not allowed to use the Credit Card limit to deposit money, credit it into payment account, debit card or prepaid card; LOTTEFinance takes measures to control and prevent the use of credit cards with wrong purpose (such as using credit cards to recharge electronic wallets, paying for goods and services not in accordance with the law).

6. Cardholders may not use the Card for the following purposes:

a)   Paying for illegal gambling;

b)  Terrorism sponsor, money laundering;

c) Fraud, forgery;

d) Other transactions which are considered illegal under Vietnamese law or laws where transactions are made or regulations of the ICO;

e) Credit card cannot be transferred. Cardholders must not use as mortgages or transfer credit cards to any other person or organization.

f) LOTTEFinance reserves the right to deny any credit card transaction suspected of being a gambling, trading transaction for the purpose of money laundering, terrorism, or other illegal transactions.

Article 5. Currency and payment

1. In Vietnam, transactions are made in Vietnam Dong or other foreign currencies at locations permitted by Vietnamese law.

2. For non-Vietnam dong transactions or transaction made in Vietnam Dong but the Card Accepting Unit pay the balance in foreign currency, the first transaction will be changed to the foreign currency that LOTTEFinance chooses to settle with the ICO from time to time (if the transaction is another foreign currency) and then convert into Vietnam Dong to debit the Cardholder's credit card account. The exchange rate is taken according to the exchange rate stipulated by LOTTEFinance on the settlement date.

3. Non-Vietnam Dong transactions will be charged for foreign currency conversion (except for specific programs, products or other agreed cases).

 Article 6. Authentication of card transactions

When using the card, depending on each Card transaction and requirements of LOTTEFinance and /or ICO and/or the Card Accepting Unit and /or applicable law, Card  transactions may be authenticated by one and / or some of the following methods:

1.   Card and the Cardholder are present at the Card Accepting Unit;

2.   The Cardholder's signature on the transaction invoice;

3.   Enter PIN when trading;

4.   Enter the one-time password (OTP) when making transactions;

5.  Card information (Card name/Card number/code CVV2/CVC2, ...) is provided via website, email, phone and internet, etc.;

6. Other forms of the Card have been previously verified by card information (Card name/Card number/code CVV2/CVC2, etc.);

7.   Any other authentication methods that the Cardholder registers with LOTTEFinance;

8.   Username and password;

9.   Any other authentication methods specified by LOTTEFinance, ICO or Card Accepting Unit;

 Article 7. Safety and security

1.      The Cardholder is responsible for complying with all requirements, instructions on safety and security of LOTTEFinance Card provided at:

a) The provisions of LOTTEFinance Credit Card Terms and Conditions

b) Card manual instructions

c) Official website and social networks of LOTTEFinance

d) Other documents sent to the Cardholder

2.   Cardholder must observe the following requirements to keep their Credit Card secured:

a) Sign the back of the Credit Card immediately upon receipt.

b) Change the original PIN code issued by LOTTEFinance for self-management and security. The cardholder should not use a PIN selected from birth date, contact numbers, identity card, serial number, etc.

3. Cardholder must carefully check the information of payment transaction documents or order and store these documents to ensure their rights. (Cards, vouchers, receipts for purchase of goods and services, invoices for card transactions are proof of card payment transactions).

4.  The cardholder must ensure that only the person issued by LOTTEFinance is the card user.

5.  Cardholder must keep their PIN, CVV2/CVC2 code, Security Password, other Cardholder identification numbers, Card information, transaction information secured. Cardholder must not (i)disclose card information, to be stolen or lost (ii) record their PIN, CVV2 code or Security Password on any article carried with but learn by heart and(iii) allow any other person to see them entering, or overhear them providing card information.

6. Cardholder must regularly check the Card, immediately notify the LOTTEFinance Customer Care Center (1900 6866 / +84 24 7302 0202 or cskh@lottefinance.vn) when the Cardholder knows the Card has been lost or stolen, or the Card, PIN, CVV2 / CVC2 or certain details of the Card suspected to be disclosed, lost, illegally used by a third party or discovering any unusual Card transactions through transaction notices sent to the Cardholder.

7. For Card transactions’ safety, LOTTEFinance may call, send a message or send a confirmation email for arising transactions, from 1900 6866 / +84 24 7302 0202 or email cardfmd@lotte.vn, to the phone number and email address registered by Cardholder.

8. Cardholder must notify LOTTEFinance about the loss or disclosure of Card information and be responsible for all financial losses incurred due to the use of the card prior to the effective time of card lock.

9. LOTTEFinance does not assume any responsibility for any loss suffered by the Cardholder due to the Cardholder's failure to comply with the regulations on card safety and security

10. The cardholder accepts that:

a) The card on the way sent to the address where the Cardholder registered with LOTTEFinance is in an inactive state, LOTTEFinance will activate the Card after receiving the Cardholder's request, ensuring correct confirmation of information Cardholder has registered with LOTTEFinance.

b) If the Cardholder enters the PIN incorrectly more than 03 (three) times, the system will automatically lock the PIN. The cardholder may request to re-enter the PIN or request LOTTEFinance to reissue the PIN and bear the PIN reissue fee. Notice of new PIN will be sent to the registered address of the Cardholder or any safe transfer method by LOTTEFinance  in accordance with the provisions of law.

 Article 8. Installment payment

1. Installment payment is the conversion of the transactions value made in the period into smaller amounts and paid in many consecutive statement periods.

2. Conditions to transfer to installments:

a) Primary Cardholder can convert their purchases and Supplemental Cardholder to Instalment Plan.

b) At the time of installment transfer, the Cardholder's Credit Card Account is in a normal operating state, not locked / temporarily locked.

c) Transaction registered for installment payment:

 (i) Type of transaction applied for installment payment: Purchases of goods, services and related transaction fees, not applicable to cash withdrawa /cash advance/disbursement via Card, service fees, interest, adjusted transactions (refund or change in value)

 (ii) The transactions have been settled in the period (and before the statement date)

 (iii) Transaction value transferred via installment payment: at least 500,000 VND, maximum value is not specified.

3. Primary cardholder can register to convert normal transactions into installment transactions or request to cancel installments through registration forms prescribed by LOTTEFinance from time to time. By submitting a request to LOTTEFinance, the Cardholder acknowledges that he has read it carefully, agrees and accepts the terms and conditions related to this installment.

4. Term of installment payment: The minimum installment period is 03 (three) months and up to 36 (thirty-six) months.

5. Value of installment transfer: is converted value to Vietnam Dong and fee (if).

6. Interest rates and fees apply to transfers through installments

a)  Interest rate: LOTTEFinance does not apply specific interest rates for installments.

b)  Installment payment conversion fee:

-          The fee is charged once when the Cardholder transfers the installment transaction and pay at the first installment after the Cardholder successfully registers.

-          Formula to calculate installment fee:

Fee = Fee level (x) Installment payment term (x) Value of installment transfer transaction

-          The installment conversion fee depends on the installment term that the Cardholder wants to convert and depends on the card product,

-          Fees are specified in the fee and interest rates of each Card product and updated from time to time at LOTTEFinance website.

c) Installment transaction cancellation fee: LOTTEFinance does not charge cancellation of installment transactions.

7.  Payment method applicable to installment transactions: Payment by statement period. The installment payment in the period is included in the outstanding balance in the period and the minimum monthly payment value includes the entire installment value in the period.

8. Cancellation of installment payment

a)     In case the transaction has been repaid but the original transaction is canceled, the installment payment will also be canceled.

b)     The cardholder's account is overdue for more than 90 (ninety) days, the installment transaction is also canceled.

c)      Cardholder requests cancellation of installment transaction.

9.   Installment payment: LOTTEFinance does not apply installment settlement.

Article 9. Credit Card Limit

1. LOTTEFinance considers and grants each Primary Cardholder a Credit Card Limit. All transactions of Primary and Suplemental Cards use the same limit.

2.  Credit Card Limit only terminates when the Primary Cardholder requests to terminate and is accepted by LOTTEFinance, or LOTTEFinance decides to terminate or when it is required to comply with the Laws of Vietnam.

3.  LOTTEFinance has the rights to increase, decrease or terminate the Credit Card Limit granted to the Cardholder or to permit Card transactions (including cases when Cardholder exceed the limit) and the Cardholder is responsible for all relevant transactions.

4. If the value of a transaction exceeds the available limit or limit of each transaction, LOTTEFinance reserves the right not to authorize the transaction or stop the transaction.

5. Unless LOTTEFinance has other regulations, the card limit may only be used for consumption purposes.

Article 10. Transaction Limit

1. Credit card transactions are limited as following:

a) Available limit: The maximum amount cardholder can spend at a certain time, which equal to the Credit Card Limit minus the outstanding balance (including outstanding balances and unpaid debts), unpaid installments and interest charges.

b) Transaction limit: This is the limit for each type of transaction, such as withdrawal limit, spending limit, online transaction limit, etc. Transaction limit is used for the Primary Card and Supplementary Card.

c) Transaction limit per day: The maximum amount that customers can use via credit card every day. This limit can be set differently on each Primary Card per Supplementary Card.

d) Transaction limit/time: The maximum amount that customers can perform on a transaction. This limit can be set differently on each Primary Card per Supplementary Card.

e) Total number of transactions per day: The maximum number of times a customer can make a transaction on a Card per day.

2. Each credit card transaction will be limited by all these above limits. The maximum amount is the amount including the arising fees related to the transaction (if any). To increase or decrease these limits, the Primary Cardholder sends a request to the channels specified by LOTTEFinance.

Article 11. Statement

1. Each credit card has a certain statement date. Cardholder can choose the monthly payment date at the time of card issuance. Based on the monthly payment date that the cardholder registers, LOTTEFinance will default to Statement Date. The statement date is applied to all Credit Cards of each Cardholder and cannot be changed during the use of the Card.

2.  Monthly, LOTTEFinance shall provide the Cardholder a Statement to the email address that Cardholder has registered at LOTTEFinance, except where there is no activity on Credit Card on the previous stament or the current outstanding balance equals 0.

3. Statement contents include but not limit to the following contents: details of transactions that the Cardholder has made, fees, interest, total outstanding balance, minimum payable amount, and due date, installments, bonus points.

4. The statement sent via e-mail is deemed received by the Cardholder after successfully being issued by LOTTEFinance.

5. The Cardholer is responsible for checking the accuracy of statement's content. If the Cardholder has any questions about the Credit Card Payments or Transactions, the Cardholder shall object to LOTTEFiance within 10 (ten) days from the sending date of the Statement. When over that period, the Bank can understand that the Cardholder agrees the credit card payments, transactions, interests, fees and penalty, etc. that are recorded, unless there are any regulations by the Vietnamese laws.

6. The Cardholder shall still be liable to pay the amount on the Statement regardless whether they have actually received the Statement or not.

Article 12. Payment

1.   Cardholder can pay debit balance credit card according to the following methods:

a)  Payment through the payment code at the cooperating bank with LOTTEFinance that it provides to the Cardholder.

b) Payment through the third side that it cooperates with LOTTEFinance.

c)      It’s debited automatically from the Cardholder's payment account at the bank which LOTTEFinance cooperates. The cardholder must register the debit account number and the debt deduction rate desired by the Cardholder. LOTTEFinance will debit the debt automatically on 02 days before the due date and / or on the payment due date of the Cardholder. The cardholder must maintain the required balances at the debit time of the LOTTEFinance debt. In case it’s not enough, LOTTEFinance may not conduct debt deduction for the Cardholder and the Cardholder have to take full responsibility for not paying in full and on time (if any). The Cardholder commits to be responsible for the authenticity of the Delegation Debts / cancellation of the Delegation Debts due to the contents of the collective delegation agreed with LOTTEFinance and match the registration information (signature) at the chosen banks.

d)     Detailed information about the payment method is available on LOTTEFinance Website.

2.      Currency of payment: Vietnam Dong

3.      Payment order: When a credit card payment transaction is recorded into the system, the Cardholder's debts are paid in the following priority order: installments, unpaid fees, interest, unpaid principal transactions; or in any order LOTTEFinance is deemed appropriate to the extent permitted by law without prior reference to the Cardholder.

4.   Payment amount:

a)      The cardholder is obliged to pay on time, fully the minimum amount to be paid so as not to be counted as late redemption (overdue). Minimum amount paid by (=) Minimum monthly payment rate, multiplied with (x) debit balance does not include to pay by installment in the period, plus (+) all credits due in the period, (+) The minimum amount payment has not been paid in the previous period. In case the Cardholder arises a debt overdue more than 90 (ninety) days, the minimum amount must be equal to the total debit balance of the statement period.

5. All payments for LOTTEFinance are considered as paid when they are noted on the account of LOTTEFinance and payment order is fulfilled with necessary information, or sooner according to the agreement between LOTTEFinance and the intermediary organization. The cardholder takes responsible for LOTTEFinance regarding late payment even if the delay is due to the delay of the intermediary organization.

6.  If the Cardholder pays more than the balance according to the statement, the balance will be managed without interest and will be deducted from the debit balance with LOTTEFinance regulations.

7.  If the Cardholder has balances on the Credit Card account, the Cardholder may request or LOTTEFinance would contact the Cardholder to refund this money by transferring to the other bank of the Cardholder’s account.

8.   Violating payment obligations

a)       The Cardholder fails to pay fulfilled the Minimum amount payable within the statement period, the cardholder is considered as violating debt payment obligation.

b)      When the Cardholder transgresses the repayment obligations, the Cardholder understands and agrees that LOTTEFinance is entitled to perform one or more of the following actions:

 (i) Apply late payment penalties and other fees (in accordance with LOTTEFinance regulations periodically and in accordance with the provisions of the law);

 (ii) Suspend temporarily the Credit Card Limit; or Terminate the Credit Card Limit and withdraw all debit balance;

(iii)   Apply the interest rate at a minimum of 150% of the normal interest for the entire principal balance and fee on the Cardholder's credit card account when the Cardholder has overdue more than 90 (ninety) days;

 (iv) Proceed measures to withdraw debts;

 (v) Insert the Cardholder's name into the list of violating Cardholders (or similar lists) of LOTTEFinance, of any other states or organizations, according to LOTTEFinance's discretion;

 (vi) Other measures in accordance with LOTTEFinance’s regulations and law.

Article 13: Fees and interest

1.      Interest and fees for using credit cards are specified in the Price List and interest, which are published on LOTTEFinance's website. LOTTEFinance has rights to actively adjust interest and fee in accordance with the provisions of law and LOTTEFinance’s regulations in each period. Price list and interest are publicly shown and provided to cardholders before using and changing. LOTTEFinance uses one or more forms of provision, informs the Cardholder as the following: email, message, website publishing, or sent to the Cardholder's registered address. The time from the announcement to the application of changes in interest rates, the minimum fee is 07 days. The Cardholder does not complete the procedure to terminate the use of the card after LOTTEFinance adjusts the interest, the fee is understood as the Cardholder has approved with LOTTEFinance's adjusted contents. LOTTEFinance only collects fee according to the Price list and interest, does not collect any fees out of the published interest and fee, unless there are other compromises with the Cardholder.

2.         Type of fees:

a)  Annual fee group: Product maintenance fee, arising once a year at the beginning of the period.

b) Transaction fee group: Arising when the Cardholder transacts successfully, and the transaction is settled on the system.

c) Service fee group: One time arising when the Cardholder has requests for credit card related services, and requests are made.

d) Penalty fee group: Arising when the cardholder fails to comply with the limits on credit card limit and time limit or other regulations.

e) Other fees in accordance with periodical regulations of LOTTEFinance.

3.   Interest

a)      Normal interest rate: applied to debit balance arising from transactions of buying goods, services, cash withdrawal / cash advance, fees. Interest is calculated from the date of the card transaction which is updated into LOTTEFinance Card Management System until the day the Cardholder pays the entire transaction value, except preferential case of interest free under LOTTEFinance regulations.

b)      Interest is applied when the Cardholder has overdue debt of more than 90 days: applied to all origin and fee of debit balance on the cardholder's credit card account.

Article 14: Interest caculation method

1.   Principle of calculating interest Spending

a)      In case the Cardholder pays all debit balance on the Statement before or on the Due date  in the statement: Cardholder is exempted interest for (i) spending transactions have been made after statement Date to the Payment Date and (ii) new spending transactions arising from the time of transaction to the next Statement Date.

b)      In case the Cardholder fails to pay all debit balance listed on the Statement before or on the Due Date is written in the Statement:

 (i)    If the spending amount following the Statement is not paid all before the next statement date: The cardholder is charged interest on this spending amount. Interest is calculated from the statement date to the statement date of the next period.

 (ii)   If the spending amount following the Statement is paid all by the next statement date: The cardholder is charged interest on this spending amount. Interest calculated from the statement date to the end of the settlement date.

 (iii)  If the spending amount following the Statement is paid in part before the next statement date: The cardholder is charged interest on the spending amount, interest calculated after the Statement Date to the Payment Date; and interest is charged on the unpaid balance, interest calculated after the Payment Date to the next statement date.

 (iv)  If the transaction is incurred from the Statement Date to the next Statement Date, the Cardholder is charged interest on the amount spent, interest calculated from the date the transaction is debited to the Card Account to the next Statement Date.

2.   Principles for calculating interest on cash withdrawal / advance transactions

a) Cash advance transactions do not have a grace period (interest free) even if the Cardholder always pays the entire debit balance before or in time the due date.

b) Cash advance transactions will be charged interest from the next day the transaction date is accounted till the day the Casholder fully pays.

c) Interest of cash advance transactions is posted into the system in the statement date.

3.       Principles for calculating interest on installment transactions

a) In case the Cardholder pays in full the installment payment in the period on or before the Due Date, getting interest free on installments.

b) If the Cardholder pays in full the installment payment in the period after the due date, he / she will be charged interest from the next day of the due date to the end of the day.

c) If the Cardholder does not pay, the interest will be calculated from the next day of that due date to the next statement date, and continue to calculate interest according to the new statement periods, until the Cardholder fully pays .

d) If the payment is less than the amount paid in the period, the Cardholder will be charged interest on the remaining unpaid installment amount.

e) Interests of overdue installment transactions are posted into the system on the statement date.

4.  In case the Card has overdue debt of more than 90 days, the Cardholder bears interest at the rate of 150% of the normal interest for all origin balance and fee on the Cardholder's credit card account.

5. Interest calculation basis

The interest amount of the interest period is equal to the total of the daily interest of the whole days of the interest period.

    In which:

-        Actual balance is the balance at the beginning of the interest calculation date of the original balance and the term balance, the original balance and the actual overdue fee that the Cardholder has to pay for LOTTEFinance.

-        The actual balance remaining days are the number of days that the actual daily balance remains unchanged.

-        Interest rate is calculated at the rate of % / year and updated on LOTTEFinance's website in each period.

-        The period of interest calculation is calculated on the principle of removing the first day and calculating the last day of the interest calculation period.

Article 15. Inspection and complaint

1.  The Cardholder has the right to request LOTTEFinance to provide fortuity information about Card transactions, credit card balance, and limits relating to the use of the Card according to LOTTEFinance’s regulations.

2.  The International Card Organisation (ICO) has issued a official complaint process with a set timetable which LOTTEFinance has to comply, namely:

a)  The ICO will not support to solve checking, complaint as the reason the Cardholder does not admit the transaction, except for the transaction which is suspected fraud.

b) The ICO only allows inspection and complaint once with the same transaction.

c) On behalf of the Cardholder in the process of handling inspection and complaint, the Cardholder needs to provide all the available information and support required documents from LOTTEFinance.

d) For transactions that are complied with the reason that the transaction has not been authorized or rejected authority, the Cardholder can only lodge a complaint within 45 days from the date of the transaction.

e) For transactions with risk reasons or the Cardholder does not receive the goods, services or the transaction is not returned or the goods or services are not as described or the goods / services are being canceled by Accepted Card Insituition or not receiving the money or value of the deposit transaction or the unit accepting counterfeit Card or transactions of late payment, wrong transaction code, wrong currency, wrong amount of money, dealing transaction 02 (two) times because the Cardholder has paid in another form. The Cardholder has the right to complain within 90 (ninety) days from the date of transaction.

f) It is impossible to conduct check and complaint against transactions with a lower value than the minimum level according to the ICO’s term.

g) Time to resolve the inspection or complaint can be up to 120 days depending on the feature of the complaint from the date of receipt valid inspection or complaint.

3.  While waiting for the results of checking, handling complaints, the Cardholder is still responsible for paying LOTTEFinance the amount off money related to the transaction with the request to check / complaint and the entire fee and interest according to LOTTEFinance notice.

4.   Within a maximum of 05 (five) working days from the date of receipt the notice from the ICO, agreeing to refund all or part of the amount of money to LOTTEFinance, LOTTEFinance will refund to the Cardholder the set of money to be controlled or part of the amount to be controlled.

5. The Cardholder is responsible for submitting the physical card (if LOTTEFinance is requested), presenting the documents promptly and / or other reasonable requests are made by LOTTEFinance (including the making of a pre-legal declaration) law) to assist in handling yours inspection and complaint.

6.  In case the Cardholder does not agree with the result of the inspection and complaint, the Cardholder has the right to request LOTTEFinance to transfer the dispute to the arbitration level of the ICO within 05 days from the date of receipt the result of notification of complaint investigation Complaints for control transactions are allowed to be transferred to arbitration level according to the rules of the ICO. The cardholder must pay all the costs related to the transfer of the dispute to the arbitration level and LOTTEFinance shall only process the examination to the arbitration level upon receipt of the charge within 02 (two) working days from the date of the Cardholder's request. The arbitral verdict of ICO is the final verdict.

Article 16. Substitution/ Extension

1.  To ensure physical and security functions, credit cards have a using duration of 03 (three) years. Expiry date of the Card is the last day of the month on the Card. After this date, if the Cardholder's credit card limit is still valid and meets LOTTEFinance's automatic extension conditions required at that time, the Card will be automatically extend and the Physical Card is sent to the Cardholder. The old card will not execute the transaction after it expires.

2.  In the process  of using the Card, the Main Cardholder may request LOTTEFinance to replace the Card for any reason, the Cardholder shall bear the Card replacement fee. Card replacement fee is announced at LOTTEFinance’s website and regulated by LOTTEFinance periodical.

3.  LOTTEFinance have self- decision to change the Card number, expiry date of the Card when issuing or replacing the new Card for the Cardholder. The Cardholder take responsibility for notifying this change to all parties to whom the Cardholder may make the payment. LOTTEFinance will not be responsible for the consequences arising from rejected transactions according to the old Card number or other cases.

Article 17. Rights and obligation of cardholder

1.  Cardholders may use the Card within the credit card limit granted and within the using scale of the card. If the transaction amount of money exceeds the Credit Card limit at the time of transaction, LOTTEFinance may not transact or stop paying the transaction without notifying the Cardholder. In case LOTTEFinance accepts the Cardholder's use over limit, the Cardholder is responsible for paying fees and debts regard of LOTTEFinance’s regulations.

2. When the Cardholder performs or agrees with a transaction, it means that the Cardholder has understood and done, agreed with the following:

a) Cardholder confirms the validity of the transaction,

b) The cardholder confirms that the transaction has accurately shown the purchase price of the goods, services or the amount of money in the cash advance transaction,

c) The Cardholder agrees to pay the amount of such transaction,

d) The cardholder agrees with the credit that LOTTEFinance provides is equivalent to the amount of that transaction,

e) The Cardholder understands and accepts interest, applied fees related to transactions,

f) The Cardholder is fully aware and accepts risks in case the Cardholder's payment transactions are confiscated, sealed or suspended by foreign organizations (due to relating to factors of embargo, crime, terrorism, terrorist financing, money laundering, subjects take court orders, foreign agencies or other reasons),

3.  The cardholder takes whole responsibility for the transaction conducted by using a credit card at ATM, POS or any other means. Any instructions given by the card will be irrevocable. The Cardholder, in any case, must accept all responsibility for the use of the Card, whether done with or without the Cardholder's knowledge or clarity.

4. Cardholders must not use lost or stolen notification cards.

5. Unless LOTTEFinance has other regulations, the Cardholder only uses the card for consumption purposes.

6. Cardholders must not conduct transactions of purchasing goods and services without control; Cash withdrawal / withdrawal is not allowed to repay loans at LOTTEFinance and / or other credit institutions.

7. The Cardholder must pay in full and on time the amount that the Cardholder has spent, interest and related fees for LOTTEFinance. The cardholder must refund the money received due to mistake, system error. The cardholder agrees to LOTTEFinance to automatically revoke this amount.

8. The cardholder is responsible for coordinating with LOTTEFinance in providing information when requested.

9.   Other rights and obligations are performed under agreements and / or regulations of law.

 Article 18. Rights and obligations of LOTTEFinance

1. Request the Cardholder to pay all debts incurred in the process of using the Card;

2. Proactively request the bank to carry out the procedure of drawing money from the Cardholder’s registered account of LOTTEFinance at the bank (if the Cardholder has agreed to choose auto debit service at the bank providing payment service for LOTTEFinance and Customers).

3. Proactively collect fees on the Credit Card account for the services requested by the Cardholder through the Customer Care Center.

4. LOTTEFinance has the right to collect fees for a supplementary credit card from the Primary Cardholder or the Supplementary Cardholder or both.

5. LOTTEFinance reserves the right to block the balance on the credit card if it is necessary to check the origin of the transaction and/or there is suspicion of fraud or forgery; be entitled to debit, credit the credit account of its own will if the transaction is mistaken by LOTTEFinance or by a third party.

6. Execute the Cardholder's payment order appropriate for the Card usage;

7. Fully and promptly communicate transactions arising on the Card as agreed with the Cardholder and be responsible for the accuracy of the information provided.

8. Ensure confidentiality of information related to the Cardholder's card and transactions in accordance with law.

9. Be responsible for damages caused by mistakes, misuse, or fraud on the Cardholder's account due to LOTTEFinance's fault.

10. Set up and maintain 24/7 hotline to receive and timely handle information reflected by the Cardholder.

11. LOTTEFinance is not responsible for:

a) Any transaction point, financial institution or someone else that refuses to accept a Credit Card, or the Credit Card being stuck at an ATM inside and outside Vietnam’s territory, or the inactivity of any benefits of the Credit Card,

b) Any defect or omission of the goods or services provided by the transaction point, financial institution or other person to the Customer,

c) Any loss arising from errors, failures of electronic devices, when using the Card,

d)      Force majeure situations.

12. Other rights and obligations under agreements and/or legal provisions.

13. The fact that LOTTEFinance has omitted or not implemented any rights of LOTTEFinance will not affect LOTTEFinance's exercise of those rights to the Cardholder as well as its enforcement of other rights and remedies.

Article 19. Primary Cardholder’s termination of the Card use

1. The Primary Cardholder has the right to unilaterally terminate the use of all Credit Cards (terminating the Credit Card Limit) or a certain Primary Card and related Supplementary Cards (terminating the Credit Card Account) by notifying LOTTEFinance through channels as dictated by LOTTEFinance regulations. However, termination requests are only accepted when the Cardholder has paid all debts with statement, debts without statement, and expected fees and charges related to the Credit Card Limit and the Credit Card Account.

2. When the Primary Cardholder requests to terminate the use of the Credit Card but has not been accepted by LOTTEFinance, annual fees, expenses and interests still continue to arise.

3. After the termination request of the Credit Card use is accepted by LOTTEFinance, the Cardholder still must pay for the transactions that the Cardholder has successfully performed before the termination request is recorded but at the time LOTTEFinance has not received information from the card accepting unit.

4. When all the Cardholder's Credit Card Accounts are terminated, the Credit Card Limit will automatically terminate.

Article 20. LOTTEFinance’s suspension of the Credit Card Limit

LOTTEFinance reserves the right to temporarily suspend the Credit Card Limit without notifying the Cardholder in the below cases:

1. The Cardholder does not pay or make insufficient and late payment of the Minimum Payment Amount.

2. The Cardholder violates the terms and conditions in the Credit Card Terms and Conditions of LOTTEFinance.

3. LOTTEFinance has grounds to believe that the continued use of the Cardholder's Credit Card may cause damage to LOTTEFinance or any other Cardholders.

4. LOTTEFinance assesses transactions have signs of fraud and forgery that may cause damage to the Cardholder or LOTTEFinance.

Article 21. LOTTEFinance’s termination of the Credit Card Limit

1.  LOTTEFinance reserves the right to unilaterally terminate the use of the Card by disabling the Credit Card Limit and requesting the Cardholder to pay by sending a Credit Card statement when one of the following situations occur. The Cardholder must continue to perform payment obligations in accordance with provisions in this Credit Card Terms and Conditions, amendments, supplements, statements and other commitments, and attached documents (if any) until all outstanding debts, interests, fees, penalties and other payable amounts are fully paid, unless LOTTEFinance notifies a change. LOTTEFinance's debt collection rights are not eliminated by the termination of the Credit Card Limit and only terminated when LOTTEFinance collects all debts of the Cardholder:

a) LOTTEFinance has grounds to assume that the information provided by the Cardholder during the issuance of the Card or the approval of the Credit Card Limit increase is incorrect or fake, fraudulent;

b) LOTTEFinance has grounds to believe that the Cardholder gives fake or fraudulent information in any relationship with LOTTEFinance;

c) The Cardholder does not pay sufficiently the Minimum Payment Amount within 90 days from the first payment due date;

d) The Cardholder has bad debts in group 3 or more at LOTTEFinance or other credit institutions;

e) The Cardholder breaches the terms and conditions in the Credit Card Terms and Conditions;

f) The Cardholder moves abroad to settle;

g) The Cardholder is an individual who is dead/missing or declared dead/missing, or loses civil act capacity, or is prosecuted under criminal law; The Cardholder is an organization that dissolves, goes bankrupt, stops operation, divides, splits, or changes owners (30% or more of the charter capital).

h) LOTTEFinance has information that the Cardholder has a financial change, which leads to inadequate ability or inability to pay debts;

i) LOTTEFinance has grounds to believe that the continued use of the Cardholder's Credit Card may cause damage to LOTTEFinance or any other Cardholders;

j) The Cardholder violates the law;

k) The Cardholder/Card is related to fraudulent/suspiciously fraudulent transactions or breach of regulations on card use by the SBV, ICO;

l) The Cardholder does not have any transactions within the last 12 months and the Cardholder's outstanding debt is 0, or

m) Other cases according to Lotte Finance's regulations and assessments.

2.  When LOTTEFinance terminates the Credit Card Limit, if there is any remaining balance of the Cardholder, this amount will be managed by LOTTEFinance without interest. LOTTEFinance will try to notify the Cardholder of this excess amount. In case the Cardholder does not request a refund within 06 months from the date of LOTTEFinance’s termination of the Credit Card Limit, this excess amount is considered to be donated to LOTTEFinance, and the Contract for issuance and use of the Card will automatically terminate.

Article 22. Refusal to honor transactions (refusal of Credit Card Payment)

In addition to cases where the Card is locked /closed due to the suspension/termination of the Credit Card limit as above, the Cardholder's Credit Card transactions may be rejected in the following cases:

1. Use the Card to carry out transactions prohibited by law;

2. The Card has been informed lost by the Cardholder;

3. The Card expires;

4. The Credit Card Limit’s balance is not enough to cover the payment;

5. When there is a written request by a competent government agency, reputable organizations such as the Card Association, ICO, or evidence of payment transaction for money laundering, terrorist financing or other illegal purposes;

6. When the Card’s transactions is suspected to be fraudulent or involve fraudulent factors;

7. Other cases (if any) in accordance with current regulations of LOTTEFinance or Vietnamese law.

 Article 23. Lock, unlock Credit Card

1. LOTTLEFinance performs Card locking in the following cases:

a) Lock the Card as required by the Cardholder;

b) Lock the Supplementary Card as required by the Primary Cardholder;

c) Lock the Card suspected by LOTTEFinance;

d) Lock the Card due to being unused in the last 12 months.

2. LOTTEFinance performs card unlocking at the request of the Cardholder or on the basis for unlocking the locked card.

3. The Cardholder must carry out the procedures for requesting card locking, card unlocking according to LOTTEFinance’s regulations.

Article 24. Seizure and termination of Credit Card

LOTTEFinance seizes the Card, terminates the Card in the following cases:

1. Fake Card;

2. Unauthorized use of the Card;

3. To serve the investigation and handling of crimes according to law provisions;

4. Other situations that LOTTEFinance sees as necessary to prevent fraud, forgery or unlawful acts.

Article 25. Loyalty Program

1. LOTTEFinance implements ways to earn points from spending to encourage the Card use of Cardholders.

2. Rate of accumulated points and validity period of reward points for each product are regulated by LOTTEFinance for each period and publicly announced on LOTTEFinance website.

3. The point of a transaction is only recorded when the transaction is debited by LOTTEFinance's system on the Credit Card account and the Cardholder only can begin to convert this point to other gift forms after the statement closing date of that period.

Article 26. Credit-related insurance

1.  In the event that LOTTEFinance rewards additional insurance services to the Cardholder, the Cardholder receiving the insurance means that the Cardholder has read and understood the Conditions and Terms of this Insurance.

2. When an insurance event occurs, the Cardholder understands and agrees that the Cardholder actively and positively cooperates with the third party providing insurance to resolve the problem.

3. In case of a risk, the Cardholder permits LOTTEFinance to be the first beneficiary. LOTTEFinance will use this insurance benefit to pay for outstanding debts (already with or without statement) that the Cardholder has not paid for LOTTEFinance (if any).

4. If the Cardholder still owe debt at LOTTEFinance after using all the insurance benefits to pay for LOTTEFinance, the Cardholder is obliged to continue to pay this debt fully on time.

Article 27. Force majeure

1.  A force majeure event refers to any event beyond LOTTEFinance’s control including but not limited to: fire, flood, earthquake, storm or other natural events, strike or other labor dispute, war, insurrection, terrorism or riots; acts or failure to act by any competent authority; changes in laws or any order of any competent authority; violations of the third party; any failure, disruption or interference failure of any telecommunications, electricity supply and other utilities; any technical failures, disruptions or interference to any computer system or equipment or any channel (whether caused by hardware or software).

2. LOTTEFinance shall not be responsible or liable for any loss to Cardholder due to a Force Majeure event.

Article 28. Cardholder information

1. The Cardholder permits LOTTEFinance to provide information about the Cardholder and other information related to the Card to an appropriate extent for the purposes (i) to perform the Cardholder's transactions; (ii) to provide organizations with credit information functions; (iii) to collect debts, sell debts; (iv) to provide to lawyers, auditors, consultants, owners of LOTTEFinance, organizations/individuals who have introduced you to LOTTEFinance, and outsourced units of LOTTEFinance who must have a commitment to information security; (v) to print, deliver and transport documents and records to the Cardholder; (vi) to provide information to organizations/businesses working in information technology, telecommunications, insurance, intermediary, cash collection/payment agents, payment intermediary and other supporting organizations for Cardholders that LOTTEFinance cooperates; (vii) to verify fraud and breach of law, denounce and report crimes, support litigation proceedings, (viii) other cases as prescribed by law.

2. Except for the above, LOTTEFinance is responsible for protecting the Cardholder's information, not allowed to collect, use, transfer information of the Cardholder to third parties without the Cardholder's permission.

3. The Cardholder can contact LOTTEFinance to ask for and change information by calling Customer Care Center.

Article 29. Measures for debt collection

1.      The Cardholder agrees that LOTTEFinance shall apply measures to urge and collect debts, including:

a) Send a message and/or call, and/or use other means to contact the Cardholder to remind and urge the debt repayment; send a written notice to the Cardholder's residence address; and/or where the Cardholder is working;

b) Send a message to and/or call on the phone numbers provided by the Cardholder to seek assistance with the Cardholder's information or support transferring payment information to the Cardholder;

c) Transfer the request for debt repayment, debt information to a third party without the Cardholder’s consent to collect debt in case the Cardholder incurs overdue debts; Entrust, delegate to Lotte Card and/or other organizations/individuals to collect debts.

d) Deduction of money from the account: The Cardholder agreeing the non-cancelable delegation to LOTTEFinance is entitled to request the Credit Institution where the Cardholder opens the account to draw money from the Cardholder's account to pay debts to LOTTEFinance according to adequate provisions of that credit institution;

e) Draw money from the income account paid by the Income Payer of the Cardholder if LOTTEFinance and the Income Payer have an agreement;

f) Handle assets that the Cardholder borrows to buy, and/or any other assets owned by the Cardholder and follow the necessary procedures in accordance with applicable laws to collect overdue debts;

g) Implement other measures as agreed with the Cardholder;

h) Carry out litigation proceedings in accordance with applicable laws.

2.  LOTTEFinance will only urge, remind the debt within the time permitted by law and not take debt reminding and collection methods against the law.

 Article 30. Notice

1. All notices and exchanges between LOTTEFinance and the Cardholder related to the Agreement of issuing and using the Card may be done through one or more of the following forms: telephone; SMS messages; email; in writing sent to the address of the parties; through smart phone applications developed by LOTTEFinance allowing Cardholders to download and use on the phone; Messages are sent via social network from the official LOTTEFinance account to the corresponding social network account of the Cardholder; or other forms as registered by the Cardholder.

2. The notice is considered received when the call to the Cardholder is successful; Message, Email are sent successfully. The written notice is considered received on the third business day from the date that the notice is delivered to the mail delivery unit. In case the notice is published on the general information website, the notice is considered received when it has been publicly announced.

3.  Information and address for the Cardholder to receive notification from LOTTEFinance is the email address, phone number, permanent/temporary residence address, workplace address, contact address, ... at the registration form of the Cardholder, and later changes (if any). The Cardholder must carefully check the information and address to ensure that they can receive LOTTEFinance notice. The Cardholder must notify LOTTEFinance immediately of any changes in the Cardholder's information as well as any other methods that the Cardholder wants to use to exchange information between the Cardholder and LOTTEFinance.

4.  LOTTEFinance can use data from LOTTEFinance system to make notices sent to the Cardholder. The Cardholder agrees that the notice is valid even if the information about the name, address, or other content are written in Vietnamese without tones, and/or the notice does not require a signature or seal of LOTTEFinance. The Cardholder needs to contact Customer Care Center immediately (1900 6866 / +84 24 7302 0202 or cskh@lottefinance.vn) of LOTTEFinance if he/she has any questions about these notifications.

5.  Cardholder agrees that LOTTEFinance is entitled to request arbitration/court to conduct trial, to resolve disputes in the absence of the Cardholder in case the Cardholder provides incomplete or incorrect address information, or the Cardholder has changed the address without notifying LOTTEFinance, leading to the Cardholder not receiving notice, invitation, summons, litigation documents, and other papers. The cardholder is responsible for paying the debts to LOTTEFinance even if he/she does not receive debt reminders or debt collection notices.

Article 31. Applicable Laws and Dispute Resolution

1.  These terms and conditions are governed by the laws of the Socialist Republic of Vietnam and the regulations on the issuance, use and payment of credit cards of the ICO.

2. If any dispute related to the Cardholder's Credit Card arises, the Cardholder and LOTTEFinance will firstly resolve it through negotiation. In case of unsuccessful negotiation, the dispute will be resolved in a competent court in Hanoi, Vietnam (for cardholders being Vietnamese organizations/individuals) and resolved at the International Arbitration Center of Vietnam (for cardholders being foreigners). The losing party is obliged to pay all expenses related to the case, including but not limited to proceeding costs, fees and legal costs, including attorneys' fees, entire court enforcement costs. and other related expenses that the other Party must spend to resolve the case.

 Article 32. Other provisions

1. In case you register as a member of LOTTEMember, you will enjoy the membership benefits of LOTTEMember and you must abide by the terms of Regular Customer Program and accept the collection, use, and disclosure of personal information of LOTTE Members Vietnam Co., Ltd. This is an agreement independent from the Contract of Card Issuance and Use. LOTTEFinance will not be responsible for the activities of LOTTE Members Vietnam Co., Ltd. and / or any other entities.

2. LOTTEFinance reserves the full right to modify or supplement any content of this document and will notify the Cardholder in various forms (text or email or SMS message) before application. The Cardholder not terminating the use of LOTTEFinance credit card after the amendment and supplement of these Terms and Conditions is understood that the Cardholder agrees and accepts the Terms and Conditions of amendment and supplement.

3. If any terms or conditions of these Terms and Conditions are declared ineffective, those terms and conditions will not invalidate other terms and conditions of the Credit Card Terms and Conditions.

4. These Terms and Conditions are valid and applicable to the Cardholder since the LOTTEFinance approved his/her application. These terms and conditions are set in Vietnamese and English, in case of differences between Vietnamese and English content, the Vietnamese version shall prevail. These terms and conditions are publicly available on LOTTEFinance's website (http://lottefinance.vn).