The client hereby waives its rights in respect of and indemnifies and holds the Bank harmless against any demands, claims, loss or action related to or in connection with the use of the account and its related services arising out of breach of security, malfunctioning hardware or software or unauthorized access to the client's account unless such demand, claim or action arose as a direct consequence of the gross negligence or wilful misconduct of the Bank or any of its employees. The client further indemnifies the Bank from all demands, claims, actions, losses and damages of whatsoever nature which the client may suffer or incur arising from its acting, or not acting, on any instruction or arising from the malfunctioning, failure or unavailability of hardware, software or equipment or the loss or destruction of any data , power failures , corruption of storage media interruption or distortion, of communication links, natural phenomena, riots, acts of vandalism, sabotage, terrorism or any other event beyond the Bank's control. By default, the account application is accompanied by a card and use of Mastercard services on any transaction with cross currency conversion is subject to a mark-up fee. I agree that the Bank reserves the right to close or freeze/restrict my account compulsorily without warning if it is unsatisfactorily conducted. I also certify that the above statements in support of my application for an account are true and complete. I understand that in the event of any information proving to be inaccurate this application may be declined.