Banking Terms & Condition

A. KYC Form & Declaration

Application Form

I/We hereby declare that the details furnished above are true and correct to the best of my knowledge and belief and I/We undertake to inform you of any changes therein, immediately. In case any of the above information is found to be false or untrue or misleading or misrepresenting, I/We am/are aware that I/We may be held liable for it.

B. Terms of Our Service

These terms of the service agreement for incorporation with other allied services ("this agreement") is entered into by and between us, and you, and is made effective as on the date of signing of this document. This agreement sets forth the terms and conditions of your use of our incorporation and other services (the "services").

Your acceptance of this agreement signifies that you have read, understood, acknowledged, and agreed to be bound by this agreement, along with:

• Our other documents set forth hereunder
• Any plan limits, service disclaimers or other restrictions presented to you on the incorporation and other services

1. Scope of Services

1.1) The Client appoints Commitbiz to assist with the following services (“Services”):

• Corporate bank account opening coordination and consultancy
• Preparation and review of bank forms and KYC documents
• Liaising with bank relationship managers and compliance officers
• Assistance with scheduling bank interviews/meetings
• Guidance on bank compliance, CBUAE regulations, and document readiness

1.2) The Client acknowledges that Commitbiz is not a bank, nor an agent or intermediary licensed by the Central Bank of the UAE (CBUAE). Commitbiz’s role is limited to facilitation, consultancy, and administrative assistance only.

2. Fees and Payment

• 2.1) The Client agrees to pay the quoted fees as per the invoice issued by Commitbiz before commencement of service.
• 2.2) All payments shall include applicable 5% VAT as per UAE law.
• 2.3) Any additional expenses (e.g., courier charges, attestation, translation, or travel fees) shall be invoiced separately.
• 2.4) Late payments are subject to a 5% monthly interest on the outstanding balance.

3. Refund Policy

3.1) Refunds of up to 100% of service fees may be considered on a case-to-case basis, provided that:

• The Client has submitted all required documents correctly and within deadlines; and
• The rejection or delay is not due to non-compliance, false declaration, or incomplete information by the Client.

3.2) If the account is rejected due to bank’s internal risk policies or CBUAE compliance, Commitbiz shall not be held responsible; however, partial or full refund may be offered depending on the effort stage.

3.3) No refund shall be processed if the Client voluntarily cancels or changes bank preference after service initiation.

4. Limitations of Liability

• 4.1) The decision to approve or reject an account lies solely with the respective bank and CBUAE compliance framework.
• 4.2) Commitbiz shall not be liable for any consequential loss, profit loss, or delays caused by the bank or government authorities.
• 4.3) The maximum liability of Commitbiz under this agreement shall not exceed the service fees paid by the Client.

5. Client Obligations

The Client shall:

• Provide true, complete, and updated documentation and declarations
• Cooperate during the KYC and due diligence process
• Disclose any relevant background, business activity, or source of funds details accurately
• Refrain from any misrepresentation or prohibited activities under UAE law

Failure to comply with the above may lead to service termination without refund.

6. Confidentiality

Commitbiz undertakes to treat all client data and documentation as strictly confidential and shall use it solely for the purpose of bank application assistance in compliance with UAE data protection and AML laws.

7. Term & Termination

7.1) This agreement remains valid until completion of services, unless terminated earlier by either party with 7 days’ notice.

7.2) In case of termination, any refund shall be evaluated proportionate to the work completed.

8. Governing Law and Dispute Resolution

This Agreement shall be governed by and construed in accordance with the laws of the United Arab Emirates and the Emirate of Dubai. Any disputes arising herefrom shall be submitted to the exclusive jurisdiction of the Dubai Courts.

9. Authorization

The Client authorizes Commitbiz LLC to:

• Liaise and correspond with UAE banks on behalf of the Client for account opening procedures
• Submit required documentation and represent the Client during the application process

This authorization does not grant Commitbiz authority to operate or manage any bank account on behalf of the Client.

10. Client Commitment

• Provide accurate and timely documentation as requested
• Attend any required bank interviews or verification calls
• Fund and activate the corporate bank account within the bank’s specified period after account approval
• Maintain compliance with all post-opening requirements as per UAE banking and CBUAE regulations

10.1) Commitbiz shall not be held responsible for failure to activate or maintain the account, delays due to client-side inaction, or subsequent account suspension or closure by the bank.

10.2) Both parties acknowledge that the success of account activation and continuity depends on mutual cooperation and adherence to the terms outlined herein.

11. Acceptance

By signing below, the Client acknowledges having read and agreed to the terms of this Banking Services Engagement Agreement.