Personal Safekeeping boxes

Conditions

Terms of use personal safekeeping boxes

1) Over the period of renting the Safekeeping Box, the Customer has the right to access the room of Safekeeping Boxes during the operational day submitting his/her passport in the order existing in the Bank.
2) The client can stay in the area the where the individual safekeeping box is kept for maximum 10 minutes.
3) The Customer puts the valuables into the box placed inside the Safekeeping room.
4) It’s not allowed to keep explosive, flammable, chemical, biological, radioactive hazardous materials including liquid substances, drugs, weapons and ammunition.
5) Should there be any suspicions (terrorism, drugs), the Bank is eligible to check the safekeeping box and exceptional cases without the Customer’s participation.
6) At the customer's request, the safekeeping box can be sealed with the Client’s signature or seal
7) The customer is obliged not to let the key of the box be duplicated immediately notifying the Bank in written about the loss of the key of the safekeeping box.
8) Upon the customer’s application, the duplicate of the key is provided to the customer by charging from the latter the tariff set by the Bank’s Executive Board for the mentioned service
9) The Client shall discharge the safekeeping box and hand over the key on the day of termination of the agreement on the renting of safekeeping box till 16:00, or if such day is not a working day on the following day till 12:00 pm.
10) The Bank is not liable for the loss or damage of the Valuables which occurred when placing or removing thereof from the safekeeping boxes, provided that such loss or damage is not caused in the Bank’s employee’s fault.
11)In case the Safekeeping box is not discharged after the expiry of the period set for the use of the safekeeping box and it’s not prolonged by the Bank and the Customer, a penalty at the size set by the Bank’s Tariffs will be charged from the Customer for each overdue day.
12) The Bank may forbid the customer to use the safekeeping box if the customer has unpaid liabilities towards the Bank.
13) Should the safekeeping box not be discharged within 180 days after the expiry of the term, upon the order of the Bank’s CEO a committee consisting of the Bank’s employees is created, which opens the safekeeping box, takes out its content and compiles a relevant statement. The Bank may sell the property available in the safekeeping box by an auction for the purpose to pay customer’s unpaid liabilities. The property is kept in the Bank’s vault till being sold.

Safekeeping of Valuables:

CSCO /the branches of the Bank may accept different kind of valuables form the customers. The valuables to be kept in the Bank are packaged and sealed in the presence of the customer. The list of valuables (attached to the safekeeping agreement) is also placed in the package (bag). The customer can check the preservation and state of the valuables at any time by notifying the Custodian thereof at least 24 hours prior. In case of withdrawal of valuables prior to the term set forth by the safekeeping agreement, the safekeeping fee is not recovered. If the valuables are not removed after the expiry of the safekeeping term, a penalty at the size and order set forth by the Bank’s tariffs will be applied for each overdue day After the termination of custodian agreement, should the customer fail to withdraw valuables within 30 days after receipt of notification, the Bank shall have the right to sell such goods through public auctions meeting the Bank’s requirement on the account of that.

“YOU HAVE THE RIGHT TO COMMUNICATE WITH THE FINANCIAL ORGANIZATION BY MAIL OR ELECTRONILCALLY”. GETTING ELECTRONIC INFORMATION IS THE MOST CONVINIENT. IT IS AVILABLE 24/7, IS FREE OF RISK OF LOSS OF PAPER INFORMATION AND ENSURES SECRET. «ATTENTION! «YOUR FINANCIAL INFORMATION» IS AN ELECTRONIC SYSTEM THAT SIMPLIFIES THE SEARCHING OF THE SERVICES SUGGESTED THE INDIVIDUALS, COMPARING AND MAKES THE MOST EFFECTIVE OPTION FOR YOU.

Advantages

Security of Personal Safekeeping Boxes

Personal safekeeping boxes are kept in a special fireproof area with special facilities where one can enter through a fireproof door. Only the personal key can open the safekeeping box, thus only you have the opportunity to open it

Confidentiality of Personal Safekeeping Boxes

The Bank provides confidentiality for the transactions and the contents of your personal safekeeping box and the isolated workplaces will enable you to use your personal safekeeping box in top confidentiality.

Convenience of Personal Safekeeping Boxes

The Customer has a right to access the room were the box is located during the operating day.

Availability of Personal Safekeeping Boxes

Using this service you will no longer worry about safekeeping of your precious items, securities. It also fits well for other values and confidential documents.

List of required documents

If have an account in the Bank, then a power of attorney to use the storage space in the name of the person representing the organization

If do not have an account in the Bank, then the documents required for opening a bank account according to the "ARMENIAN BANK" OJSC bank account opening and maintenance" procedure (power of attorney certified by a notary)

Tariff

General tariffs of individual safekeeping boxes

Term	Sizes
	Small	Medium	Big
	43cmx27cmx7.5cm	43cmx27cmx16cm	43cmx55cmx16cm
a/ 7 days	AMD10 000	AMD15 000	AMD20 000
b/ 14 days	AMD15 000	AMD20 000	AMD25 000
c/ 1 month	AMD20 000	AMD25 000	AMD30 000
d/ 3 months	AMD35 000	AMD40 000	AMD45 000
e/ 6 months	AMD45 000	AMD50 000	AMD55 000
f/ 9 months	AMD50 000	AMD55 000	AMD60 000
g/ 12 months	AMD55 000	AMD60 000	AMD65 000
h/ 12 months and more	Tariff defined for 12 months added the tariff corresponding to the period exceeding 12 months
Replacing the lost key of safekeeping box	AMD 30 000

After the expiry of the term of the Agreement, the following fees are accrued for each actually used day.

Up to 7 days- AMD 2500 daily
From 8 to 14 days- AMD 1700 daily
From 15 up to 30 days- AMD 1000 daily
31 days and more- AMD 500 daily

Tariffs of individual safekeeping boxes of “NANO” BRANCH

Term	Sizes
	Small	Medium
	6cmx30cmx40cm	15cmx30cmx40cm
7 days	AMD 2 500	AMD 3 500
14 days	AMD 4 500	AMD 7 000
1 month	AMD 7 000	AMD 9 000
3 months	AMD 10 000	AMD 18 000
6 months	AMD 15 000	AMD 25 000
9 months	AMD 20 000	AMD 30 000
12 months	AMD 25 000	AMD 35 000
12 months and more	Tariff defined for 12 months added the tariff corresponding ti the period exceeding 12 months

After the termination of the Agreement, a penalty in the amou8nt of AMD 1200 is defined in “NANO” BRANCH for each actually used day.
In “NANO” BRANCH, AMD 500 is applied for each use of safekeeping box.

Tariffs for keeping of valuables *¹

1 months

2 months

3 months

6 months

9 months

12 months

AMD 10 000

AMD 15 000

AMD 20 000

AMD 25 000

AMD 30 000

AMD 35 000

Tariff includes VAT.

AMD 500 for each actually used day after the expiry of the term of the Agreement.

Other provisions:

1) Authorities for using an individual safekeeping box by other persons are accepted if:

authorization has been entitled by a written power of attorney ratified by the Notary, or
authorization has been given in the Bank/a branch by the individual who rented the safekeeping box with the presence of the responsible employee and based on the power of attorney formed and signed by the Head of the CSCO/Head of the branch.

2) The customer can enjoy the service of individual safekeeping box in Head office, “KENTRON”, “SHAHUMYAN”, “ECHMIATSIN” and “NANO” branches of ARMECONOMBANK OJSC.

Updated: 10/04/2023 15:32