BDO HOSPITAL INSTALLMENT PROGRAM 3/1/2019 to 7/31/2019

BDO HOSPITAL INSTALLMENT PROGRAM 3/1/2019 to 7/31/2019

Hospital Installment Program Terms and Conditions
1. BDO shall have the absolute and exclusive right to approve or reject applications for Hospital Installment transaction. The principal amount plus interest will be deducted from the available credit limit. If the Cardholder has no sufficient credit limit, BDO has the sole discretion to approve only a portion of the amount applied for. In case of rejection of the application, BDO is under no obligation to notify the Cardholder of the said rejection and of the reason therefore.

2. The Cardholder acknowledges liability to BDO for any Hospital Installment transaction request that has been implemented and the amount of Hospital Installment transaction together with interest and penalty charges, if any, will form part of the Cardholder’s payment obligation to his/her BDO Credit Card.

3. Monthly installments due on the Hospital Installment transaction together with monthly interest and penalty charge, if any, shall be billed to the Cardholder and shall commence on the Cardholder’s next statement date and every month thereafter until the total amount payable is paid in full.

4. Approved applications for Hospital Installment can no longer be reversed/cancelled. BDO may accommodate request to accelerate the charging of the remaining unbilled monthly amortization/s, but the total remaining balance after the acceleration, must be paid in full. The Cardholder will be charged a processing fee of 5% of the total remaining balance of P300, whichever is higher.

5. In cases of suspension, cancellation and/or non-renewal of the BDO Credit Card due to non-payment or breach of the terms and conditions governing the use of the card, all unpaid amounts under the Hospital Installment Program as well as the outstanding balance in the Cardholder’s account shall become due and demandable without need of a prior notice.

6. Notwithstanding the foregoing, the Cardholder acknowledges that the agreed periodic amortization computed using the corresponding factor rate may differ from the amortization computed and generated by BDO System due to rounding off of the corresponding factor rate, which is automated in BDO’s system. Cardholder hereby consents and authorizes BDO to round off the corresponding factor rate in the computation of the agreed periodic amortization and hereby accepts any change in the factor rate, including the amortization amount as a result thereof.

7. The Terms and Conditions governing the issuance and use of the BDO Credit Cards shall continue to apply to the Hospital Installment Program and to the cardholder’s availment of such Program and shall be deemed incorporated with and made integral parts of these Terms and Conditions. In case of conflict between the above stated provisions and the BDO Credit Cards Terms and Conditions, the latter shall prevail.

8. The Cardholder’s use / availment of the Hospital Installment Program constitutes the Cardholder’s agreement to the above Terms and Conditions.