use, your Card and Account for any other purpose, you will be
write to us within ten days telling us that you still refuse to pay, we must
VISA BUSINESS
responsible for such use and may be required to reimburse us for all
tell anyone we report you to that you have a question about your
18. Arbitration. "Arbitration" is a means of having an independent
amounts or expenses we pay as a result of such use. You acknowledge
Statement. And, we must tell you the name of anyone we reported you
CARDHOLDER AGREEMENT
third party resolve a Dispute. A "Dispute" is any controversy or claim of
and agree that the Business Card and Account will be used for legitimate
to. We must tell anyone we report you to that the matter has been settled
any type or nature between you (or any co-signer, co-obligor, guarantor,
business purposes and that you will have neither consumer law rights
between us when it finally is.
joint user or authorized user) and us or our employees, officers,
non remedies associated with any illegal Purchases, Charges, or other
IMPORTANT: The enclosed First Bank & Trust Business Card was
directors, attorneys, and other representatives and agents, arising out of
activity associated with the Business Card or Account.
If we don't follow these rules, we can't collect the first $50.00 of the
issued to you at the request of your Employer. Before you sign or use
or in any way relating to this agreement, including this arbitration
questioned amount, even if your Statement was correct.
the Business Card, please read this Agreement thoroughly, since it
agreement. You agree that this is a contract involving interstate
governs use of the Business Card. Please save it for future reference.
commerce which is subject to the Federal Arbitration Act and that any
23. Lost or Stolen Card. You may be liable for the unauthorized
Dispute shall be settled by binding Arbitration in accordance with the
use of your Card. You will not be liable for unauthorized use that occurs
Special Rule for Credit Card Purchases
To avoid unauthorized use of your Card, please sign the back of your
Card immediately.
applicable rules and procedures of the American Arbitration Association
after you notify us through our agent at 1-800-658-3660 orally of the loss.
("AAA"), except as modified herein with the sole exception of collection
theft, or possible unauthorized use. You may also notify us in writing of
If you have a problem with the quality of property or services that you
This Agreement is effective when you use the Card or the Account or if
actions by us relating to your Account. You and we agree that the
loss. theft, or possible unauthorized use at CARD PROCESSING
purchased with a credit card, and you have tried in good faith to correct
you fail to cut your Card in half and return it to us within 30 days after the
arbitrator has no authority to conduct class-wide proceedings and will be
CENTER, PO Box 495933, Cincinnati, OH 45249-5933. In either case,
the problem with the merchant, you may have the right not to pay the
date it is issued to you.
restricted to resolving the individual disputes between the parties. You
your maximum liability is $50.00 for unauthorized charges to your
remaining amount due on the property or services. There are two
further agree to waive any claim for punitive damages to the extent
Account made prior to receipt of your oral or written notification. You
limitations on this right:
should also notify your Employer in accordance with your Employer's
1. Definitions. In this Business Card Cardholder Agreement
permitted by law. The arbitrator otherwise has the ability to award all
remedies otherwise available by statute, at law or in equity to the
instructions.
(a) You must have made the Purchase in your home state or, if not
("Agreement"), the following definitions apply:
prevailing party including the recovery of reasonable attorneys fees and
within your home state, within 100 miles of your current mailing
"Account" means the Account established in connection with the
the costs of arbitration, as determined by the arbitrator. Judgment upon
YOUR BILLING RIGHTS
address; and
the award rendered by an arbitrator may be entered in any court having
(b)
The Purchase price must have been more than $50.00.
Business Card to which Charges are made.
KEEP THIS NOTICE FOR FUTURE USE
jurisdiction thereof. YOU UNDERSTAND THAT YOU WILL NOT HAVE
These limitations do not apply if we own or operate the merchant, or if
"Billing Cycle" means the period of time covered by the Statement.
THE RIGHT TO GO TO COURT, TO HAVE A JURY TRIAL, TO
ENGAGE IN PRE-ARBITRATION DISCOVERY (EXCEPT AS
This notice contains important information about your rights and our
we mailed you the advertisement for the property or services.
PROVIDED FOR IN THE ARBITRATION RULES), OR TO
responsibilities under the Fair Credit Billing Act.
"Business Card" means the business purpose credit card designed for
use by Cardholder to charge purchases of Employer-defined goods and
PARTICIPATE AS A REPRESENTATIVE OR MEMBER OF ANY CLASS
services that are primarily for or incidental to the business of Employer,
OF CLAIMANTS PERTAINING TO ANY DISPUTE. OTHER RIGHTS
Notify Us In Case of Errors or Questions About Your
and which is issued by First Bank & Trust to Cardholder on behalf of
THAT YOU WOULD HAVE IF YOU WENT TO COURT MAY ALSO BE
Bill
Employer in accordance with the terms of this Agreement.
UNAVAILABLE IN ARBITRATION. If any portion of this Arbitration
Agreement is subsequently deemed unenforceable, the enforceability of
If you think your Statement is wrong, or if you need more information
"Cardholder", "You", and "Your" refer to the individual named on the
any other provision of this Arbitration Agreement shall not be affected
about a transaction on your Statement, write us [on a separate sheet] at
Business Card who has been authorized by Employer to be issued a
and the unenforceable term shall be amended such that it is enforceable
the address listed on your Statement. Write to us as soon as possible.
Business Card, make Purchases, and incur Charges to the Account of
to the maximum extent permitted by law.
We must hear from you no later than 60 days after we sent you the first
such Business Card on behalf of the Employer in accordance with the
Statement on which the error or problem appeared. You can telephone
terms of this Agreement.
19. Venue and Jurisdiction. You consent to be subject to the
us, but doing so will not preserve your rights.
jurisdiction and venue of the Circuit Court for the Third Judicial Circuit,
"Cash Advance" means an advance of cash that, if permitted by the
State of South Dakota, and agree that such court shall be the sole and
In your letter, give us the following information:
Employer, is charged to the Account with or in connection with a
exclusive jurisdiction and venue of all court actions of disputes or claims
Your name and account number.
Business Card. Any cash equivalents obtained with the Card will also be
arising from or relating to this Agreement or the Account relationship.
The dollar amount of the suspected error.
treated as Cash Advances. Cash equivalent transactions include but are
Describe the error and explain, if you can, why you believe there is an
not limited to wire transfers, money orders, travelers checks, tax
20. Applicable Law. This Agreement is entered into in the State of
error. If you need more information, describe the item you are not
payments, gold bullion purchase, and gaming transactions or services.
South Dakota where the decision to grant credit is made and in which
sure about.
payments will be received. Therefore, this Agreement will be governed
"Charge" is any Account activity that has a debit value.
by the laws of the State of South Dakota without giving reference to its
If you have authorized us to pay your credit card Statement automatically
conflict of law provisions. If there is any conflict between any of the terms
from your savings or checking account, you can stop the payment on any
"Due Date" means the date that payment is due for Debt on an Account
and conditions of this Agreement and applicable law, this Agreement will
amount you think is wrong. To stop the payment your letter must reach
as reference on the Statement (the date printed on the Statement below
be considered changed to the extent necessary to comply with the law.
us three business days before the automatic payment is scheduled to
the words "Payment Due Date").
The other provisions of the Agreement shall not be affected.
occur.
"Debt" means all amounts charged to an Account, including without
21. Currency Conversion Rate. If you effect an international
Your Rights and Our Responsibilities After We Receive
limitation, Purchases, Charges, and Fees, that are due and owing to First
Bank & Trust.
transaction at a merchant that settles in U.S. dollars, the rate used to determine the
Your Written Notice
transaction amount for such transactions is generally either a government mandated rate
"Employer" means the organization that authorized First Bank & Trust
or wholesale rate determined by Visa® for the processing cycle in which the
We must acknowledge your letter within 30 days, unless we have
to issue the Business Card to you on behalf of the organization.
transaction processed, and may be increased by an adjustment factor established from
corrected the error by then. Within 90 days, we must either correct the
time to time by Visa®. The rate used on the processing date may differ from the rate that
error or explain why we believe the Statement was correct.
would have been used on the Purchase or cardholder statement.
"Fees" means all fees that are posted to an Account and due and
payable to First Bank & Trust which are associated with any
After we receive your letter, we cannot try to collect any amount you
If you effect a transaction at a merchant that settles in a currency other than
Business Card. See the section entitled Fees for a description of
question, or report you as delinquent. We can continue to bill you for the
the Fees associated with this Card.
U.S. dollars, Visa will convert the charge into a U.S. dollar amount. Visa®
amount you question, including interest charges, and we can apply any
will use its currency conversion procedure, which is disclosed to institutions
unpaid amount against your credit limit. You do not have to pay any
"First Bank & Trust", "we", "us", "our", and "Bank" mean, First Bank
that issue the Cards. Currently the currency conversion rate used to
questioned amount while we are investigating, but you are still obligated
& Trust, Brookings, South Dakota, the creditor and issuer of Business
determine the transaction amount in U.S. dollars for such transactions is
to pay the parts of your Statement that are not in question.
Cards and related Accounts.
generally either a government mandated rate or a wholesale rate determined
If we find that we made a mistake on your Statement, you will not have to
by Visa® for the processing cycle in which the adjustment factor established
"Legitimate Business Charge" is any Charge that directly or indirectly
pay any interest charges related to any questioned amount. If we didn't
from time to time by Visa®. The currency conversion rate used on the
benefits your Employer.
make a mistake, you may have to pay interest charges, and you will
processing date may differ from the rate that would have been used on the
have to make up any missed payments on the questioned amount. In
"Purchase" means a purchase of goods or services (or both) that is
Purchase or cardholder statement posting date.
either case, we will send you a notice of the amount you owe and the
date that it is due.
charged to the Account with or in connection with a Card or Central
Account.
22. Illegal Transactions. Your Card and Account may be used
If you fail to pay the amount that we think you owe, we may report you as
only for valid and lawful purposes. If you use, or allow someone else to
06/13
M-109681
delinquent. However, if our explanation does not satisfy you and you
Date referenced on your Statement. You are liable to First Bank & Trust
Minimum Interest Charge. The minimum Periodic INTEREST
termination or cancellation will not affect your existing obligations under
2. Your Acceptance of the Agreement. By accepting,
for payment of all Charges and Fees incurred on the Account or
CHARGE each billing cycle, based on the Periodic Rate, is $.50.
this Agreement.
signing, or using the Business Card or the Account established in
otherwise authorized by you, independent of any agreement or program
connection with it, you are agreeing to the terms of this Agreement. If
for reimbursement that may exist between you and your Employer. In
Cash Advance Fee. In addition to the INTEREST CHARGE on
15. Notices. We will send statements and any other notices to you at
you do not agree to the terms of the Agreement, you agree to cut the
certain circumstances, unless prohibited by law, your Employer may
decide to pay First Bank & Trust directly for business-related Charges
Cash Advances calculated by application of the Periodic Rate, there is
the address shown in our files. You promise to inform us promptly in
Business Card in half and return the pieces to First Bank & Trust.
made to your Business Card, but you are still liable for all Debt
an INTEREST CHARGE of 3% (minimum $5.00), whichever is greater,
writing of any change in your address. In determining your last known
for each Cash Advance posted to your Account that month.
address, we can accept address corrections received from the U.S.
3. Ownership of the Business Card. The Business Card
associated with the Account. Certain Charges may be billed directly to
Postal Service.
your Employer and will appear on your Statement as a memorandum
remains the property of First Bank & Trust. First Bank & Trust can
item only. In the event that your Employer refuses to pay these Charges
Replacement Card Fee. If at any time you request a replacement
revoke your right to use the Business Card at any time. First Bank &
and/or Debt and they are later billed to your Account, you agree to pay
credit card due to loss, damage, theft, or destruction of your current
16. Changes in Agreement Terms. We can change any term
Trust can do this with or without cause and without giving you notice.
such Debt in full.
credit card, you may be charged a Replacement Card Fee of $5.00. No
of this Agreement, including the rate at which or manner in which interest
You must surrender the Business Card to your Employer or to First Bank
replacement Card will be allowed on the third lost or stolen Card. This
charges are calculated, at any time upon such notice to you as is
& Trust at their request.
8. Irregular Payments and Delay in Enforcement,
fee is an INTEREST CHARGE
required by law. At our option, any change will apply both to your new
activity and to your outstanding balance when the change is effective. If
4. Using Your Card. First Bank & Trust provides charging
Waivers and Releases. We can accept late payments, partial
11. Fees. Your Account is subject to the following fees, each of which
you do not wish to be subject to the change, you must notify us in writing
privileges on the Business Card pursuant to an agreement with your
payments, checks and money orders marked "paid in full" or language
will be charged to your Account as a Purchase:
within 25 days of the effective date of the change and close your
Employer. Your Employer has authorized the issuance of the Business
having the same effect without losing any of our rights under this
Account. Use of the Card after the effective date of the change is
Card to you, which is to be used only by you and only for Legitimate
Agreement. We can also delay enforcing our rights under this Agreement
deemed acceptance of the new terms.
Business Charges, as defined to you by your Employer. Charging
any number of times without losing them and can waive or delay
Late Fee. If we do not receive a payment from you in at least the
privileges will be withdrawn upon: (i) abuse of Charge privileges by you
enforcing a right against one of you without waiving or delaying it as to
amount of your Minimum Payment Due by the Payment Due Date shown
on any Statement, you may be charged a Late Fee equal to the amount
17. Exchange of Information Between First Bank &
(including, but not limited to, the failure of your obligation to use the
the other. No waiver by us of any default shall be effective unless in
Business Card for Legitimate Business charges, making illegal
writing nor operate as a waiver of any other future default. We can
of the Minimum Payment Due up to a maximum of $25.00.
Trust and Your Employer. First Bank & Trust may furnish
Purchases, failure of your obligation to make payment to First Bank &
release you in whole or in part without affecting your obligations under
information concerning your use of the Business Card, including any
this Agreement.
delinquency, to your Employer, which may include your direct supervisor.
Trust, and failure of any other obligation as provided by this Agreement);
Returned Payment Fee. If you make a payment on your Account and
Your Employer may furnish information about your use of the Business
(ii) termination of your employment or affiliation with your Employer; (iii)
termination or suspension of the agreement between First Bank & Trust
9. Minimum Payments. You may pay your New Balance each
your check or other payment instrument is not honored for any reason or
Card and the Account, and any pertinent information about any
and your Employer.
month, or you may pay in monthly installments. If you decide to pay in
cannot be processed, we may charge a Returned Payment Fee equal to
reimbursement of Charges received by you from your Employer,
Cardholder delinquency information, Cardholder employment status and
monthly installments, you must pay at least the Minimum Payment Due
the amount of the Minimum Payment Due up to a maximum of
location and any other related Cardholder tracking information to First
You may use your Card or Account to make Purchases wherever the
shown on your Statement by the Payment Due Date. You may pay more
$25.00.
Bank & Trust. By participating in international programs or transactions,
Card is honored. You may also use the Card to obtain Cash Advances
than the Minimum Payment Due and may at any time pay your total
you and your Employer agree that First Bank & Trust may transfer and
from any financial institution that accepts the Card. If you use your Card
balance due. We will apply payments to amounts owed on your Account
Account Handling Fee. If you are in default of this Agreement and it is
use such transaction information to process international transaction
or Account. you agree to us paying the amount owed to each merchant
based on applicable laws.
necessary for us to place restrictions on your Account, you may be
requests by the Employer or Cardholder to merchants, processors, and
or financial institution which honored your Card.
charged an Account Handling Fee of $25.00. If these restrictions cause
service providers. You consent to such use and transfer of such
If you give your Account number to make a Purchase or obtain a Cash
If your New Balance is greater than $20.00, then the Minimum Payment
your Card to be retained and returned to us, you agree to pay all charges
information.
Advance without presenting your Card (such as for a mail order.
Due will be the greater of $20.00 or 3% of your total outstanding balance,
associated with recovering your Card.
telephone, or Internet purchase), the legal effect will be the same as if
plus any Late Fee, and any amount that is delinquent. If the New
the Card itself was used by you.
Balance is less than $20.00, you pay only the New Balance. When we
Reinstatement Fee. If we close your Account due to your default and
calculate the Minimum Payment Due, it will be rounded to the next
we later reinstate your Account at your Employer's request, you may be
If we, at our option, give you a Personal Identification Number (PIN), you
highest $5.00 increment.
charged a Reinstatement Fee of $25.00.
may use your Card to obtain a Cash Advance from any Automated Teller
Machine (ATM) that bears the VISA®, or PLUS® logo. All ATM
Your Account is not in good standing if at any time we do not receive at
Statement Copy Fee. If you request a copy of a Statement, you may
transactions are treated under terms of this Agreement the same as
least the Minimum Payment Due by the 60th day after the Payment Due
Cash Advances. We have the right to restrict your access to any
Date shown on the Statement.
be charged a Statement Copy Fee of $2.50 per page.
qualified ATM at any time. You should not keep your PIN with your Card.
If you believe that anyone has gained unauthorized access to your PIN,
12. Default/Collection Costs. Your Account will be in default
10.
INTEREST CHARGES. Your Account is subject to the
you should advise us immediately, following the procedures under the
and we may demand immediate payment of the entire amount you owe
following interest charges, each of which will be charged to your Account
heading "Lost or Stolen Card.'
as Purchase:
us without giving you prior notice, if: (a) your Minimum Payment Due is
not received by the Payment Due Date; (b) you make Purchases or
5. Credit Line. Your credit line is shown on the folder containing
obtain Cash Advances in excess of your credit line; or (c) you provide
Periodic Interest Charges. An INTEREST CHARGE is imposed
false information to us, misuse the Account or Card or violate any term of
your Card. Since we may change your credit line from time to time, your
on Purchases beginning on the date the Purchase is posted to your
latest credit line will appear on your monthly billing statement. You agree
this Agreement. We shall also have the right to all remedies provided by
Account. No INTEREST CHARGE will be imposed on your Purchases if
not to make any Purchases or obtain any Cash Advances that would
law including, without limitation, closing or refusing to renew your
the Previous Balance shown on your Statement is zero and you pay your
cause the unpaid balance of your Account to exceed your credit line. We
Account and demanding return of your Card(s). If we refer your Account
New Balance in full by the Payment Due Date shown on your Statement.
for collection to an attorney who is not our regularly salaried employee,
may honor Purchases and Cash Advances in excess of your credit line
An INTEREST CHARGE is imposed on Cash Advances beginning on
you agree to pay the reasonable fees of such attorney and, whether or
at our sole discretion. If we do, this Agreement also applies to that
the date they are obtained and continues until the balance of your
excess and you agree to pay the excess immediately if we demand that
not an attorney is retained, all court and other collection costs (including
Account is paid in full. There is no time in which you can pay the balance
you do SO. You agree that we may change or cancel your credit line at
any amounts actually incurred by us in recovering your Card (s)).
of Cash Advances in order to completely avoid an INTEREST CHARGE.
any time without affecting your obligation to pay amounts that you owe
under this Agreement.
13. Refusals to Honor Card. We are not responsible for refusals
The INTEREST CHARGE is determined by multiplying the Average Daily
to honor your Card. And, except as otherwise required by law or
Balance for Purchases and for Cash Advances outstanding during the
6. Billing Statements. We will promptly send a Monthly Billing
regulations, we will not be responsible for merchandise or services
monthly billing cycle by the monthly Periodic Rate. The monthly Periodic
Statement ("Statement") at the end of each monthly billing cycle if your
purchased through use of your Card.
Rate for Purchases and Cash Advances is 1.158% which is equivalent to
Account has a debit or credit balance greater than $1.00. The Monthly
an ANNUAL PERCENTAGE RATE of 13.9%.
Billing Statement will show the Previous Balance, Purchases and Cash
14. Termination. We may terminate your privileges under this
Advances posted during the billing period, any Interest Charges, and all
The Average Daily Balance is computed by taking the beginning balance
Agreement or cancel or limit your privileges to make Purchases or obtain
payments, debits, and credits to your Account through the Billing Cycle
of your Account on each day, calculated separately for Purchases and
Cash Advances at any time, with or without cause without notice or
Closing Date. It will also show, among other things, your New Balance,
Cash Advances, adding new Purchases and Cash Advances and
liability. If we ask, you must return your Cards to us, cut in half. You
the Minimum Payment Due, and the Payment Due Date (which will be at
subtracting any payments and credits. Any resulting credit balance is
agree that you will not try to make any Purchases or obtain Cash
least 25 days after the Billing Cycle Closing Date).
treated as a zero ($0.00) balance. This gives us the daily balance. The
Advances after you have been notified that your privileges to use your
daily balances are then added together and divided by the number of
Account have been canceled. You may cancel this Agreement by
7. Your Responsibility to Make Payment. Your obligation
to
days in the billing cycle to get the Average Daily Balance.
returning all Cards issued on your Account to us, cut in half. Your or our
make payment to First Bank & Trust is due and payable upon the Due