Business Cards  
Revolving Account  
Plan Agreement  
 
Rev. 2/2022 
 
This Business Cards Revolving Account Plan Agreement  (the �Agreement�) constitutes  the agreement between the 
undersigned business client  (the �Company�) and Oriental Bank (the �Bank�)  which governs Company�s business credit 
cards with the Bank . The Company has requested the Bank to grant to it a business revolving  credit card plan and to  
issue  business c redit cards ( each, a �Card�) thereunder  to directors, officers, employees and agents of the Company 
authorized  by the Company , from time to time,  to use the Cards on its behalf ( each, an �Authorized User �). The 
Company and all Authorized User s agree that the following terms will govern use of the Cards and the Company�s 
credit Card account (the �Account�).  The Com pany is responsible for advising each Authorized User  about the  terms 
of this Agreement, as applicable to them, and about their respective obligations hereunder.  
 
1. The Company shall pay to the Bank, when due, all amounts, which become due as a result of cr edit extended 
and charges incurred pursuant to this Agreement.  Subject to the terms of this Agreement and credit availability, 
extensions of credit may be made in the form of purchases of goods and services (each a �Purchase�) or cash 
advances (each, a �Cash Advance�).  
2. The Company agrees that each Authorized User  will be provided with one (1) Card which  shall bear a  card 
number different  from that of every other Card.  The Bank reserves the right to issue or refrain from issuing a 
Card to any Authorized User at any time. By designating  each Authorized User , the Company represents and 
warrants to the Bank that such Authorized User  is aware of and , along with the Company , has request ed the 
Bank to issue a  Card  for his/her use . 
3. The Account is to be used by Authorized User s only for legitimate business expenses incurred in the ordinary 
course of their employment  or agency with the Company. The Company agrees to limit the use of the Cards 
by Authorized Users  to such expenses and to take all  necessary steps to insure that the Cards are used for 
no other purpose. The Company agrees that i t shall be bound by the acts of, and  shall pay to the Bank when 
due, all amounts which become due as a result of credit extended and o ther charges payable pursuant to the 
terms of this Agreement including , without limitation, by use of the Cards by Authorized Users . 
4. The Company agrees to indemnify the Bank and hold the Bank harmless against any loss incurred by the 
Bank by reason of the use of the  Cards by an Authorized User , which use is not in accordance with paragraph 
3 of this Agreement. In addition, t he Company shall pay to the Bank  any amounts charged to the Account as 
a result of extensions of credit or charges incurred pursuant to  the use of a Card by an Authorized  User  that 
is not in accordance with paragraph 3 the same as if the use had been in accordance with paragraph 3.   
5. The Cards remain the property of the Bank, which may, without prior notice or liability, revoke them and an y 
and all privileges thereunder  at any time. The Company shall surrender the Cards to the Bank immediately 
upon request, and shall be solely and completely responsible for  their possession, use and control. The 
Company�s responsibility for possession, use and control of the Cards shall include, without  limitation, the 
responsibility to retrieve a Card from any person who ceases for any reason (including, without limitation, 
termination of the  person�s employment or agency relationship with t he Company) to be an Authorized User . 
The Company agrees that it shall remain  liable for extensions of credit and charges incurred pursuant to the 
use of a Card by a former Authorized User  even though that former  Authorized User  has ceased to have any 
authority to use the Card.  
6. For the purposes of this Agreement, �Unauthorized Use� means the use without authorization of a Card by a 
person other than an Authorized User  or former  Authorized User  and from which neither the Company nor 
any Authorized User  or former Authorized User  received any benefit.  
7. The Company agrees to indemnify the Bank and hold the Bank harmless against any loss incurred by the 
Bank by reason of any  Unauthorized Use of the Cards until the Bank  receives and has reasonable time to act 
on a written  notice of loss, theft, or possible Unauthorized Use. The Company shall pay to the  Bank any 
amounts charged to the Account as a result of extensions of credit and charges incurred pursuant to any such 
Unauthorized Use of  the Cards which occurs prior to the Bank�s receipt of  and reasonable time to act on any 
and all  notice s of the loss, theft, or possible Unauthorized Use, the same as if the credit had  been extended 
or charges incurred pursuant to use of the Cards by an Authorized User  with full authority to use the Cards.  
8. The Company shall be liable for the Unauthorized Use of the Cards prior to notification. Notification is to be 
made to the Bank, to the following address: Dispute Resolution Center, PO Box 31535, Tampa, FL  33631 -
3535; or by tel ephone to (877) 541 -5739, 24 hours a day. Notice of the theft, loss or possible Unauthorized 
Use of a Card must be made by the Company no later than sixty (60) days after receipt of the Company�s 
monthly account statement (the �Account Statement�). If noti fication is properly given by the Company within 
such sixty (60) -day period, the liability of the Company under this paragraph shall not exceed the sum of fifty 
dollars ($50.00).  
9. The Company agrees that it shall provide the Bank with a list of Authorized Users and of the credit limit 
assigned by the Company to each  Authorized User  (�Individual Credit Limits�), certified by the Company to be 
true and complete and in a form suitable to the Bank. The  Company further agrees that the Bank may rely 
upon any such list provided by the Company to the Bank until the Bank is notified in writing,  in a form suitable 
to the Bank, at Oriental Bank, Commercial Banking Division, PO Box 195115, San Juan, PR 00919 -5115;  Business Cards  
Revolving Account  
Plan Agreement  
 
Rev. 2/2022 
setting forth any additions to, deletions from the list, increases or reductions in credit limits, or any other 
changes in such list  and the Bank has had reasonable time to act on such notice . For better protection while 
a change in Authorized Users or any related information is processed, an authorized represen tative of 
Company may contact the Customer Service Area at  1-866-541-5739  and request that any Card or Authorized 
User intended to be deleted be blocked by the Bank. The Bank reserves the right to identify, as it may deem 
reasonable, any individual calling on behalf of the Company to request any such blocking and will bear no 
responsibility or liability for any, damages, e xpenses, liability or any other consequences of acting or refraining 
from actin in  accordance with such request .  In the case of any deletions, any and all Cards in the possessions 
of the person(s) being deleted as an Authorized User must be returned by th e Company with the notification 
of such elimination. If the Company is unable to return the Card(s), the Bank reserves the right to close the 
Account. The Bank may also charge the Company for any costs incurred in retrieving the Card(s), including 
the cost  of placing the Card(s) on a restricted list.  
10. Neither the Company nor any Authorized User shall incur in charges  that are: (a) in excess of the credit limit 
authorized to the Company (�Company�s Credit Limit�) as assigned by the Bank from time to time under  this 
Agreement; or (b) in excess of the subject Authorized User�s Individual Credit Limit as assigned by the 
Company within the  Company�s Credit  Limit as notified to the Bank from time to time under the provisions of 
paragraph 9 above. The Company agrees that if the  Company�s Credit Limit or any Individual Credit Limit 
exceed s at any time the Company�s Credit Limit, the Card(s) may be revoked at  the Bank�s  discretion, and 
the Card(s) shall be surrendered upon the Bank�s request. The Bank may elect to cancel only the Card of the  
particular Authorized User  who exceeded his or her Individual Credit Limit, in which case the Company shall 
be responsible for  surrendering said Card upon the Bank�s request.  
11. The Company will pay to the Bank, at the Bank�s offices, the minimum payment indicated in the monthly 
Account Statement  (�Minimum Payment �). The Minimum Payment is calculated  as indicated  below:   
 
Business �2% of the balance or $20, whichever is greater , provided that, if the balance were 
less than $20, then the Minimum Payment will be the total balance . 
 
The Company shall pay monthly, at least , the Minimum Payment on or before the Payment Date as set forth 
in the periodic Account Statement. The  Company can pay at any time, in full or in part, the new balance 
amount, which appears in  the monthly Account Statement, but never less than the  amount of the Minimum 
Payment that appears on said statement. The balance on  any overdue  payments and the balance in excess 
of the established line of credit will be considered due and payable immediately without any further  request or 
notification.  
12. All amounts received from the Company as payment to its Account shall be applied i n the following order: (a) 
to FINANCE CHARG ES on  Cash Advances; (b) to FINANCE CHARGES on Purchase s, (c) the excess will be 
applied to the outstanding balance subject to the highest annual percentage rate (�APR�) . Whenever the 
amount  of any payment made by the Company to its Account during a cycle  exceeds the required  Minimum 
Payment for that cycle , the excess will be allocated to most  pressing indebtedness which  is the balance of 
Cash Advances or Purchases , that is costing the Company most in terms of  FINANCE CHARGES. Any 
payment in excess of the outstanding balance  will remain as a credit in favor of the Company.  
13. In the case of returned items and adjustments of Purchases , the Company shall accept a credit to its  Account 
in lieu of cash  reimbursements.  
14. The Bank may, at its option, declare the total balance of the amount immediately due and payable upon the 
occurrence of any of the  following conditions: (a) when the Company defaults in the payment of three (3) 
cons ecutive installments; (b) when the Company defaults in  the payment of one or more overdue installments, 
if on two (2) or more prior occasions it had defaulted on two (2) or more consecutive  installments and on said 
occasions the overdue installments were fully satisfied; (c) when the Company, after having defaulted on one 
(1) or  more consecutive installments, makes a partial payment on the overdue amount and, after such partial 
payment, resumes timely payment  of future installment, but co ntinues in default with respect to the remaining 
overdue amount during three (3) consecutive installments after  the date of such partial payment: (d) when the 
Company or any Authorized Person exceeds their credit limit; (e) when there is any material  adver se change 
in the financial condition of the Company; (f) when the Company becomes insolvent or unable to pay its debts 
as they  mature or files a voluntary petition in bankruptcy, or takes any action indicating acquiescence to an 
involuntary bankruptcy  petition. The  provisions contained in this paragraph shall not be deemed to limit in any 
way the Bank�s rights under paragraph 5 above.  
15. FINANCE CHARGES will be computed over the average daily balance  of Purchases (including current 
transactions) and Cash Advan ces (each a �Transaction Type�) in your Account during the billing cycle . The 
FINANCE CHARGE will be variable and may change for each  billing period.  FINANCE CHARGE S will appear 
on each Account Statement and will be computed as follows: ANNUAL PERCENTAGE RATE (�APR�) - The 
Bank will determine the APRs  based on the United States p referential rate published by the United States 
Federal Reserve Bank (�Prime Rate�). The APR applicable to each Transaction Type will be determined by  Business Cards  
Revolving Account  
Plan Agreement  
 
Rev. 2/2022 
adding to the Prime Rate the  margin applicable to the relevant Transaction Type. If the Federal Reserve Bank 
ceases to publish the Prime Rate, we will select a similar index as may be permitted by applicable law or 
regulation. Purchases - The APR on Purchases will be d etermined by adding the Prime Rate to a margin that 
may fluctuate between 4% and 7 % depending on the Company�s credit capacity at the time of approval of the 
Account application ; provided that t his APR will never be less than 9.99%. To determine the periodic rate for 
the cycle (the �PERIODIC RATE�), the APR must be divided by 12. This  PERIODIC RATE will never be less 
than 0.8325%. Cash Advances - The APR  on Cash Advances  will be determined by adding t he Prime Rate 
to a margin  of 13.99% ; provided that  this APR will never be less than 19.99%. To determine the PERIODIC 
RATE applicable to Cash Advances, the APR must be divided by 12. This PERIODIC RATE will never be less 
than 1.6658%.  Variable Rates - The APRs and, therefore, the PERIODIC RATES applicable to each 
Transaction Type are variable. Accordingly, they may increase or decrease with changes in the Prime Rate. 
Any increase in the Prime Rate will be effective from the first day of the next billing cycle following the date of 
the change in the Prime Rate.  An increase in the Prime Rate could represent an increase in the APR s and in 
the Minimum Payment. In addition, from time to time the Bank may change the margins  applicable to each 
Transactio n Type as permitted by law or regulation. This may also result in changes to the APRs, PERIODIC 
RATES, and the Minimum Payment. Any change in the FINANCE CHARGE will apply to the balance in your 
Account and to the new transactions during the  billing cycle.  Balance on which FINANCE CHARGES are 
computed - The Bank uses the average daily balance to compute FINANCE CHARGE S. To obtain the 
average daily balance corresponding to each Transaction Type, takes the beginning balance for the subject 
Transaction Type eac h day, adds any new Purchases (for the calculation of the average daily balance of 
Purchases) or Cash Advances  (for the calculation of the average daily balance on Cash Advances) and 
miscellaneous debits charged to the Account during the day , and subtracts any payments and credits made 
during the day. This gives the daily balance  during the billing cycle with resp ect to each Transaction Type . 
Then , the Bank adds up all the daily balances for the billing cycle for each Transaction Type and divide s the 
respective totals by the number of days in the billing cycle. This gives the average daily balance  (�Average 
Daily B alance�) . Computation of FINANCE CHARGES - The FINANCE CHARGE S for each Transaction 
Type is computed by  applying the PERIODIC RATE applicable to the relevant Transaction Type to the 
Average  Daily Balance  corresponding to the relevant Transaction Type . Purch ases will be charged from the 
date on which the Bank pays the merchant or entity providing the goods or services. However, NO FINANCE 
CHARGES will be charged for any billing cycle in which there is no previous balance provided that the total 
Account balanc e (including Purchases made during the billing cycle is received by the Bank on or before the 
payment due date ). There will be no grace period on Cash Advances. FINA NCE  CHARGES on Cash 
Advances will be charged from the date on which the Cash Advance is dis bursed  until they are fully paid . The 
applicable PERIODIC RATE , APR and FINANCE CHARGE may vary, from time to time .  
 
16. Other Charges: The Company shall pay the Bank a the following charges : 
 
Annual Fee (non -reimbursable):  
     Business �   $100.00 , regardless of the number of cards in the Account.  
Returned Check Fee  $10.00  
Late Fee   Up to $35.00  
Cash Advance Fee  2% of Amount (minimum $2; maximum $10)  
 
17. The Bank may accept payments or partial payments which include  the phrase �full payment � and/or words to 
that effect, without impairing or losing its right to collect the outstanding balance on the Account.  
18. The Bank will not be responsible or liable in any manner if any Purchases or Cash Advances are not authorized 
by the Bank or a third party, even if there is credit available in the Company�s Credit Limit. The Bank may limit 
the number of Purchases or Cash Advances at any given moment. If the Bank detects unusual or suspicious 
activity in the Account, it may suspen d temporarily the Company�s Credit Limit in the Account, until the 
legitimacy of such transactions have been verified. The Bank may approve Purchases or Cash Advances that 
exceed the Company�s Credit Limit, without waiving any of its rights under this Agre ement.  
19. The Company shall designate a person (the �Representative�) to receive on its behalf all correspo ndence from 
the Bank in connection herewith, including without limitation, all monthly Account Statements, Credit Cards 
and PIN numbers. Notwithstanding , the provisions of paragraph 8 above, the Company agrees to indemnify 
and hold the Bank harmless from any and all liability expense, suit, claim, fine or action that shall result from 
the Representative�s fraudulent or negligent act or omission in the per formance of his or her duties under this 
paragraph  and from the acts and omissions by any and all Authorized Users . 
20. The Company agrees to provide to the Bank , at the Bank�s , request a true copy of its Corporate Resolutions, 
By-laws, Certificate of Incorpor ation, Deed of Constitution of Partnership or Power of Attorney, and any other 
pertinent document that the Bank may require  from time to time , including, without limitation, annual audited 
financial statements and year -end statements.   Business Cards  
Revolving Account  
Plan Agreement  
 
Rev. 2/2022 
21. The Bank may amend th is Agreement unilaterally, which amendment will be effective forty five (45) days after 
mailing notice thereof to the Company�s last known address, as it may appear on the Bank�s records  unless 
otherwise expressly stated in the notice.  
22. The Bank reserves the right to require the Company to provide a third party guarantee  who/which shall be 
subject to approval by the Bank.  
23. Failure by the Bank to exercise any of its rights under this Agreement or under applicable laws and/ or 
regulations w ill not constitute a waiver of such rights.  
24. Neither the Bank nor any other person or entity will be liable to the Company or to any Authorized Person for 
failure to honor the Card. The term �Card,� as used in this Agreement, will be understood in the plura l sense 
when the Bank shall have issued more than one Card to the Company.  
25. This Agreement shall be interpreted in accordance with the laws of the United States Virgin Islands  and any 
applicable federal law of the United States. Should any clause or provis ion of this Agreement be declared null 
or void under any such applicable law, such eventuality will not affect the validity or enforceability of the 
remaining clauses and provisions of this Agreement.  
26. The Bank may at any time, and without notice to the Co mpany, sell, assign, or transfer the Company�s 
Account(s), any sums due on those Accounts, this Agreement, or the Bank�s obligations under the Company�s 
Account or this Agreement to any person or entity. The person or entity to whom the Bank makes any such  
sale, assignment or transfer shall be entitled to all of the Bank�s rights and/or obligations under this Agreement, 
to the extent sold, assigned or transferred.  
27. The term �Company,� as used herein, shall refer to a corporation, partnership, association , limited  liability 
company , or individual doing business under a commercial name (�d/b/a�) . 
28. Federal law under section 326 of the USA Patriot ACT requires that any financial institution obtain, verify, and 
record information that identifies any individual or e ntity that opens an account or credit relationship. This 
means that when you open an account or credit relationship, we will ask you, your name, address, date of 
birth and other information that will allow us to identify you. We will also ask you to show u s your driver's 
license or other identification documents.  
 
Signature of the Company�s  
Representative: __________________________________________________________________________  
Name: _________________________________________________________________________________  
Title: ___________________________________________________________________________________  
Name and Address of the Company: __________________________________________________ _______  
____________________________________________________________________ Zip Code ___________  
Date: __________________________________________________________________________________  
Signature of  
Bank�s Representative: _________________________________ ___________________________________  
Name: __________________________________________________________________________________  
Title: ____________________________________________________________________________________  
Date: _________________________________ __________________________________________________