Tariffs and Conditions

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Tariffs and Conditions

The present translation is furnished for the customer’s convenience only. The original German text of the Tariffs and

Conditions is binding in all respects. In the event of any divergence between the English and the German texts, constructions, meanings, or interpretations, the German text, construction, meaning or interpretation shall govern exclusively.

General Conditions Applicable to the Tariffs and Conditions

These Tariffs and Conditions are subject to the General Terms and Conditions of ING Bank, a Branch of ING-DiBa AG (referred to as “ING Bank”), to the specific terms and conditions for other banking services, and to the following additional terms and conditions:

 Unless explicitly otherwise state, all prices are quoted in Euro and net of VAT.

 The Tariffs and Conditions refer only to the services of ING Bank and related charges. Charges of other payment service providers (in particular charges of correspondent banks) are not included and, where applicable, shall be invoiced separately to the customer.

 We reserve the right to regularly review our Tariffs and Conditions and, where appropriate, to make adjustments to them, in particular

 in the event of changes to the legal or regulatory environment with a corresponding impact on our cost or fee structure,

 where there are changes to market conditions with a corresponding impact on our services (e.g. interest rates).

 The Tariffs and Conditions shall be deemed valid for one calendar year after entering a business relationship. We specifically reserve the right of early modification of our Tariffs and Conditions

 when the customer's creditworthiness deteriorates,  in the event of a change of the volumes agreed with

the customer, of the STP-Rate1 for handling transactions, or of the intended implementation (e.g. number of accounts maintained),

 In the event of changes in the Tariffs and Conditions, the customer may termintate the use of the services affected by the changes, or the overall framework agreement for payment services, prior to those changes becoming effective, without notice period and exempt from charges, on the basis of the General Terms and Conditions.  ING Bank can determine and apply fees and charges for

other services, not listed in these Tariffs and Conditions, at its reasonable discretion (§ 315 BGB), when such services are delivered based on a customer’s instruction or in the presumed interest of a customer, and when such services can only be delivered against compensation due to circumstances.

General Information about ING Bank

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STP stands for 'Straight-Through-Processing', i.e. automatic processing of transactions from the time transfer instructions are received until they are fully executed. As a rule, fully automated transaction execution is not possible in the case of paper-based instructions, or in the case of instructions containing errors requiring correction by ING Bank.

1. Bank Name and Address for Service of Summons

ING Bank, a Branch of ING-DiBa AG Hamburger Allee 1

60486 – Frankfurt am Main

2. Postal Address

ING Bank, a Branch of ING-DiBa AG Hamburger Allee 1

60486 – Frankfurt am Main P.O. Box 20 02 44

60606 – Frankfurt am Main

Telephone, Website

+49 (0)69 759 36 0 www.ingbank.de

Please note:

When delivering instructions (e.g. payment orders) to ING Bank, customers should use the means of communications agreed with ING Bank, such as the agreed electronic banking channel.

3. Supervisory Authorities

Bundesanstalt für Finanzdienstleistungsaufsicht, Graurheindorferstrasse 108

53117 – Bonn

4. Registration with the Commercial Register

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2_{Overdrafts on accounts are not permitted by default. Should nevertheless an overdraft be agreed at short notice with ING Bank, the debit} interest rates referenced here will be applied at that time. ING Bank reserves the right to unilaterally adjust these debit interest rates for unauthorized overdrafts without further notice.

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Intraday MT942 reports are provided only by prior agreement with ING Bank. Charges and Fees

I Accounts and Interest Rates I a. Account Management

Account management € 8.00 per account and month

Booking fee € 0.30 per posted booking

Provision of accounts in currencies other than Euro (EUR), US Dollar (USD) or British Pounds Sterling (GBP) is subject to separate negotiation and agreement with ING Bank.

I b. Interest Rates

Interest rates on credit balances

EUR, USD, GBP 0.00% p.a.

Other currencies upon request

Interest rate for unauthorized overdrafts2 in EUR EONIA + 10.00% p.a.

Interest rate for unauthorized overdrafts² in USD LIBOR ON (USD) + 10.00% p.a. Interest rate for unauthorized overdrafts² in GBP LIBOR ON (GBP) + 10.00% p.a. Interest rate for unauthorized overdraft²(other

currencies)

upon request

I c. Account Information

Delivery of account statements

Electronically, via electronic banking, per account and month, at the end of the day as MT940

free of charge Electronically, via electronic banking, intraday as

MT9423 reports

€ 30.00 per account and month

Paper account statements per post actual postage charges

Further copies of account statements € 30.00 per account and month

Duplicate account statements, for activities up to one year old

€ 15.00 per duplicate Duplicate account statements, for activities older than

one year

€ 30.00 per duplicate

Account information from/to other payment service providers

Receipt of electronic account statements (MT940, MT942) from payment service providers via SWIFT and provision to customer via electronic banking

Forwarding of electronic account statements (MT940, MT942) to payment service providers via SWIFT

II Payment and Collections II a. Funds Transfers

SEPA transfers domestically and within the European Union and EEA States in Euro – outgoing

The following Terms and Conditions apply to the forms of transfers referenced below: SEPA transfers:

- Currency: Euro

- Amount: Unlimited

- Recipient's IBAN and BIC address provided

- Fee sharing arrangement "SHA" (sharing fees)

- Recipient located within the European Union/ EEA Member State or Switzerland

The tariffs and conditions described in the following chapter entitled "International transfers (non-EU/EEA countries) and transfers in foreign currencies" apply to transfer instructions which do not meet these criteria.

Transfers electronically transmitted via electronic banking

SEPA individual transfers free of charge

SEPA transfers in bulk orders € 0.12 per SEPA transfer in bulk order

SEPA urgent transfer (“PriorityInstruction High”) with same-day execution

€ 5.00 per transfer SEPA transfers with code word SALA, in bulk orders free of charge SEPA individual transfers with code word TREA

(execution via TARGET2)

€ 10.00 per transfer

SEPA individual transfers with code word INTC free of charge

Transfers within the EU and the EEA Member States, non-urgent, non-SEPA transfer

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ING Bank does not accept SEPA transfers submitted in paper format. Payment orders for these payment instruments may only be transmitted electronically via electronic banking.

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List of partipating countries can be supplied upon request. 6

Blocks and filters on SEPA products refer to blocking all requests to honor SEPA direct debits, blocking requests to honor SEPA direct debits from specific creditors, from specific mandates or from specific transactions, and putting a cap on amounts per mandate.

Urgent transfer (execution via TARGET2) € 10.00 per transfer

Urgent transfer (execution to payment service provider not affiliated with TARGET2)

0.075%, min. € 15.50, max. € 75.00, per transfer + € 6.00 surcharge for urgent processing

Surcharge for paper-based4 / manual (urgent-) transfers

+ € 35.00 per transfer, as fax or letter

SEPA transfers domestically and within the European Union and EEA States in Euro – incoming

Incoming SEPA transfer free of charge

Incoming urgent transfer (via TARGET2) free of charge

Incoming transfer, non-urgent, non-SEPA transfer 0.075%, min. € 15.50, max. € 75.00 per transfer Incoming urgent transfer (from payment service

providers not affiliated with TARGET2)

0.075%, min. € 15.50, max. € 75.00 per transfer

International transfers (non-EU/EEA countries) and transfers in foreign currencies – outgoing

Transfers, electronically transmitted via electronic banking (bulk orders are broken down into the individual transfers therein)

0.075%, min. € 15.50, max. € 75.00 per transfer

Surcharge for urgent transfer +€ 6.00 per transfer

Surcharge for paper-based / manual (urgent-) transfers

International transfers (non-EU/EEA countries) and transfers in foreign currencies – incoming

Incoming transfer in Euro, non-urgent 0.075%, min. € 15.50, max. € 75.00 per transfer

Incoming transfer in foreign currency, non-urgent 0.075%, min. € 15.50, max. € 75.00 per transfer

Incoming transfer in Euro, urgent 0.075%, min. € 15.50, max. € 75.00 per transfer

Incoming transfer in foreign currency, urgent 0.075%, min. € 15.50, max. € 75.00 per transfer

ING intra-company payments – outgoing

The following terms and conditions apply to ING intra-company payments:

- Transfers to accounts held within ING Group in selected countries5, within same customer group

- Currency of the payment order must be the same as the currency of the paying and of the receiving accounts

- Currencies other than EUR are subject to separate agreement with ING Bank Transfers electronically transmitted via electronic banking

Transfer within the branch free of charge

Transfer to another ING branch € 9.00 per transfer

Surcharge for paper-based / manual (urgent-) transfers

ING intra-company payments – incoming

Incoming transfer within the branch free of charge

Incoming transfer from another ING branch free of charge

Standing orders

Set-up of standing order € 20.00 per standing order

Amendments to standing order € 10.00 per standing order

Cancellation of standing order free of charge

II b. Direct Debits – Domestic and SEPA

Requests to honor direct debits (debit to customer account)

Paying out on a CORE-SEPA direct debit free of charge

Paying out on a B2B-SEPA direct debit free of charge

Return of a domestic SEPA direct debit € 3.00 per direct debit

Return of an international SEPA direct debit free of charge

Mandates for SEPA direct debits

Setting up B2B SEPA mandate

€ 5.00 per mandate Amendment of B2B

SEPA mandate

€ 3.00 per mandate

Cancellation free of charge

Implementing blocks and filters6 on SEPA

mandates

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Unfounded objection to a debit from an unautho-rized SEPA direct debit

€ 60.00 per unfounded objection

Obtention of a copy of mandate

€ 30.00 per copy

Submission of direct debit orders for collection (credit to customer account)

SEPA CORE, SEPA COR1 and SEPA B2B direct debits in bulk, electronically submitted via electronic banking

€ 0.12 per individual debit in bulk order Returned direct debit, ING Bank’s own charge (in

addition to possible charges by other payment service providers)

€ 3.00 per returned direct debit

Reimbursement of the amount credited, of an authorized SEPA direct debit

free of charge Reimbursement of the amount credited, of an

unauthorized SEPA direct debit

€ 60.00 per reimbursement case

Submission of direct debit orders for collection is subject to separate agreement with ING Bank. Note: The service Direct Debits may require a credit facility to be arranged in advance.

II c. Cheques

Requests to honor cheques (debit to customer account)

Honoring cheques in Euro free of charge

Honoring cheques in foreign currency and honouring international cheques in EUR

the fee applicable for the respective (international-) transfer in that particular currency, per cheque

Prenotation of a stop payment € 10.00 per cheque

Issue of Euro-denominated cheque forms € 15.00 (plus VAT) for a block of 10 cheques

Submission of cheques for collection (credit to customer account)

Cheques in Euro, drawn on a domestic bank € 3.00 per cheque

Cheques in Euro, drawn on a foreign bank/cheques in foreign currency

0.2%, min. € 20.00, max. € 500.00 per cheque

Cheques returned unpaid and/or protested 0.2%, min. € 20.00, max. € 100.00 per cheque

Surcharge for investigations by ING Bank, in case of incomplete credit information or missing cheque collection forms

€ 5.00 per cheque

Provision of “Lockbox” Service € 20.00 per account and month

Provision of the Lockbox Service is subject to separate agreement with ING Bank. For precise terms and conditions, customers may refer to the separate “Lockbox” Agreement for the collection of cheques directly from a customer’s debtors.

II d. Cards

Debit cards – girocard (Maestro)

Card issuance € 20.00 per card, one-time fee

Annual fee € 10.00 per card and year

Cash withdrawal at ATMs of ING DiBa AG free of charge

Cash withdrawal at other ATMs applicable tariffs of the respective payment service provider

The services described in this section must be separately agreed with ING Bank.

Credit cards “ING Corporate Card” – (MasterCard)

Credit cards must be separately agreed with ING Bank N.V., Amsterdam (the provider). We are happy to forward upon demand the tariffs for this service. The closing statements for this service will be sent directly by the provider.

III Pooling and Liquidity Structures

Note: These services require among others the arrangement of credit facilities with the customer. For this reason, the terms and conditions described in this section are only informative in nature. They do not represent an offer or a commitment by ING Bank to provide such credit facilities.

Local zero-balancing

Implementing a local zero-balancing structure

Set-up € 500.00 per account, one-time fee

Amendment € 100.00 per account

Cancellation free of charge per structure

Base fee for local zero-balancing € 25.00 per account and month

Fees for pooling transactions free of charge, per pooling transaction

Local zero-balancing is executed daily, as part of local end-of-day processes.

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Simple inquiries and investigation requests are such, which occur on the phone and, which are resolved within the same phone call.

Implementing a cross-border cash-balancing structure

Set-up € 100.00 per account, min. € 1000.00 per structure,

one-time fee

Amendment € 100.00 per account

Cancellation free of charge per structure

Base fee for inclusion of a local account in a cross-border intra-day cash-balancing structure

€ 100.00 per account and month Base fee for inclusion of a local account in a

cross-border end-of-day cash-balancing structure

Fees for pooling transactions free of charge, per pooling transaction

Cross-border intra-day cash-balancing is executed daily at 3.30pm. Cross-border end-of-day cash balancing is executed daily, in the morning of the following business day, based on the last end-of-day balances.

Multi-bank funding & sweeping

Base fee for inclusion of local account in a cash-balancing structure with another payment service provider

Fees for pooling transactions the fee applicable for an urgent transfer in the respective

currency, per pooling transaction

Executing payments / sending instructions from/to 3rd-party payment service providers using MT101 messages

MT101 from 3rd-party payment service providers € 75.00 per account, one-time set-up fee MT101 to 3rd-party payment service providers € 25.00 per account and month

IV Electronic Banking Services

On site installation support

On site support for installing Multiweb/Multicash, on site training in the use of these applications

€ 600.00 (plus VAT) per day

Multiweb

Installation executed by the customer free of charge

Installation, where installation support is required on site

see "Onsite installation support "

Usage fee € 25.00 per account and month

Installation of Multiweb may be performed by the customers themselves. Where necessary, ING Bank is happy to offer the above mentioned support and training separately.

Multicash

Installation see "On site installation support "

Licence fee € 550.00 (plus VAT), one-time fee

Usage fee € 30.00 per account and month

Technical support for Multicash (EBICS) applications of other payment service providers is offered exclusively by those suppliers.

EBICS Connection for Payment-Factory Services

Implementation Fee € 5000.00 per structure, one-time fee

Annual Maintenance Fee € 1000.00 per structure and year

The EBICS Connection for Payment-Factory Services must be separately agreed with ING Bank.

Other applications

The use of other electronic banking applications of ING Group (e.g. Telelink@Isabel, File Transfer Protocol, SwiftNet, etc.), is subject to the terms and conditions of the respective provider.

V Other Services

Inquiries and investigations

Inquiries (incl. investigation requests), simple7 € 20.00 per inquiry

Inquiries (incl. investigation requests), complex € 50.00 per inquiry (plus additional charges of other payment service providers)

Inquiries (incl. investigation requests), for activities older than 6 months

€ 100.00 per inquiry (plus additional charges of other payment service providers)

Confirmations and advices

Annual bank confirmation free of charge

Auditor certificates € 100.00 for the first up to 3 (three) pages, € 50.00 per page

thereafter Confirmation of capital for company under

incorporation

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ING Bank cannot guarantee the successful revocation of a payment order. 9

ING Bank cannot guarantee the successful recall of a payment order.

Separate notification of payment to beneficiary € 50.00 per written notification

Separate confirmation of executed payment € 50.00 per written confirmation

Tax certificate free of charge

Replacement tax certificate € 50.00 per replacement

Rejections, repairs, revocations and recalls

Notification of the rejection of execution of a payment order

€ 25.00 per notification

Surcharge for the repair of a payment order + € 8.00 per repair

Revocation8 of a transfer order, after the transfer order was received by ING Bank, prior to the execution of the transfer

€ 25.00 per revoked transfer

Recall9 of a transfer order, after the transfer order was received by ING Bank, after the execution of the transfer

€ 50.00 per recalled transfer

Miscellaneous

Forwarding of copy of cheque or of cheque original to customer

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VI Guarantees and Documentary Trade

Note: These services require among others the arrangement of credit facilities with the customer. For this reason, the terms and conditions described in this section are only informative in nature. They do not represent an offer or a commitment by ING Bank to provide such credit facilities.

VI a. Guarantees

Guarantee fees

Guarantee fees On request, min. € 500.00 per year

Other fees

Advise of a guarantee 0,10%, min. € 100,00 max. € 300,00

Opening fee € 100.00 per guarantee

Amendment fee € 100.00

Text provided by customer / legal checking of text € 100.00

Claim of a guarantee 0,30%, min € 300,00

VI b. Documentary Trade

Import letters of credit

Preadvise of a letter of credit € 100.00

Risk opening commission On request, min. € 100.00 per commencing month

Opening commission € 100.00

Amendment commission € 100.00

Document handling commission 0.30%, min. € 150.00

Commission discrepant documents € 100.00

Refusal and return of documents 0.30%, min. € 150.00

Release of goods € 200.00

Deferred payment commission On request, min. € 100.00 per commencing month

Acceptance commission On request, min. € 100.00 per commencing month

Export letters of credit

Pre-advise of a letter of credit € 100.00

Advise of a letter of credit 0.10%, min. € 100.00, max. € 300

Commission for transferred letter of credit 0.30%, min. € 250.00

Confirmation commission On request, min. € 100.00 per commencing month

Amendment commission € 100.00

Increase of a confirmed letter of credit On request

Pre-check of documents € 100.00 per document set presented

Documents handling commission 0.30%, min. € 150.00

Commission for discrepant documents € 100

Deferred payment commission On request, min. € 100.00 per commencing month

Acceptance commission On request, min. € 100.00 per commencing month

Supervisory commission for advised letter of letter with deferred payment

0.10%, min € 100.00, max. € 300.00

Notice of assignment € 100.00

Issuance of a Bill of Exchange € 30.00

Reimbursement commission € 50.00

Import collection

Collection Commission 0.30%, min. € 100.00

Supervisory commission for handling “documents

against acceptance” € 100.00

Amendment of collection Instructions € 100.00

Release of goods € 200.00

Export collection

Collection Commission 0.30%, min. € 100.00

Supervisory commission for handling “documents against acceptance”

€ 100.00

Amendment of collection instructions € 100.00

Tracers under collection € 25.00

Draft

Draft payable at our counters 0.30%, min. € 100.00

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VI c. Postage for Guarantees and Documentary Trade

Letter € 3.50 per mailing

Registered mail € 7.50 per mailing

Courier domestic € 15.00 per mailing

Europe € 27.50 per mailing

USA € 32.50 per mailing

Asia € 37.50 per mailing

Africa € 37.50 per mailing

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Cut-Off Time 1:30pm for the same-day execution of a SEPA transfer, when executed in favor of a beneficiary with accounts at another ING Bank branch.

Cut-Off Times, Execution Terms and Value Dates

I Payments and Collections

SEPA transfers domestically and within the European Union and EEA States in Euro – outgoing

Value Date of the Debit Cut-Off Time

Transfers electronically transmitted via electronic banking:

SEPA individual transfers D 4.30pm10

SEPA transfers in bulk orders D 4.30pm10

SEPA urgent transfer (“PriorityInstruction High”) with same-day execution

D 1.30pm

SEPA transfers with code word SALA, in bulk orders D 1.30pm

SEPA individual transfers with code word TREA (execution via TARGET2)

D 2.30pm

SEPA individual transfers with code word INTC D 1.30pm

Transfers within the EU and the EEA Member States, non-urgent, non-SEPA transfer

D 4.00pm

Urgent transfer (execution via TARGET2) D 4.00pm

Urgent transfer (execution to payment service provider not affiliated with TARGET2)

D 4.00pm

Paper-based / manual (urgent-) transfers D 9.00am

Execution Terms:

ING Bank is obliged to ensure that the payment service provider of the beneficiary receives the transferred amount as follows:

Transfer in Euro, to another payment service provider in an EU/EEA State

no later than on the next business day on the account of the payment service provider of the beneficiary if

- the transfer is denominated in Euro

- fee sharing agreement is not "BEN" or "OUR"

- the payer has provided the IBAN of the beneficiary and the BIC of the payment service provider

Urgent transfers in Euro (via Target 2) to another payment service provider in an EU/EEA State

on the same business day on the account of the payment service provider of the beneficiary , if submitted electronically Transfer in an EEA currency other than in Euro, to

another payment service provider in an EU/EEA State

within four business days on the account of the payment service provider of the beneficiary, if

- the transfer is denominated in an EEA currency - fee sharing agreement is not "BEN" or "OUR"

- the payer has provided the IBAN of the beneficiary and the BIC of the payment service provider

The execution term begins at the end of the day on which:

- all the necessary details to execute the transfer are provided by the cut-off times stated above, under sec. II. 1 of the "Terms and Conditions for Transfers", and

- a sufficient credit balance is available, or sufficient credit facility has been granted, to cover the transfer.

SEPA transfers domestically and within the European Union and EEA States in Euro – incoming

Value Date of the Credit

Incoming SEPA transfer D

Incoming urgent transfer (via TARGET2) D

Incoming transfer, non-urgent, non-SEPA transfer D

Incoming urgent transfer (from payment service providers not affiliated with TARGET2)

D

International transfers (non-EU/EEA countries) and transfers in foreign currency – outgoing

Value Date of the Debit Cut-Off Time

Transfers, electronically transmitted via electronic banking (bulk orders are broken down into the individual transfers therein)

D with / without currency conversion; (execution on D+2)

1.30pm (Euro) 11.30 am (foreign currency)

Urgent transfer 11.30 am

Paper-based / manual (urgent-) transfers 9.00am

International transfers (non-EU/EEA countries) and transfers in foreign currency – incoming

Value Date of the Credit Cut-Off Time

Incoming transfer in Euro/EEA currency, non-urgent D 4.00pm

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"T" means the (TARGET) day on which the creditor (beneficiary) asks for funds to be collected. It coincides with the settlement date, i.e. the date on which the funds move from the debtor’s payment service provider, to the creditor’s payment service provider, and with the debit date, i.e. the date on which the debtor (payer) is debited.

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Please note that an existing mandate counts as “amended” among others when the bank details of the debtor (e.g. account number, payment service provider, BIC or IBAN) change. Thus, any affected recurrent CORE SEPA direct debits do not count as “recurrent” any longer, rather become “with an amended mandate” and must be submitted to ING Bank before the respective earlier Cut-Off-Date.

Incoming transfer in Euro/EEA currency, urgent D 4.00pm

Incoming transfer in foreign currency, urgent D+2 11.30am

Credits pursuant to the above table are posted only after ING Bank has received funds covering them.

ING intra-company payments – outgoing Value Date of the Debit Cut-Off Time

Transfer within the branch D 4.00pm

Transfer to another ING branch (EUR) D 4.00pm

Transfer to another ING branch(other currencies) D 11.30am

Paper-based / manual transfers D 9.00am

Execution Terms:

- Transfers within the branch within one business day - Transfers to another ING branch within one business day

ING intra-company payments – incoming

Value Date of the Credit

Incoming transfer within the branch D

Incoming transfer from another ING branch D

II Direct Debits – Domestic and SEPA

Requests to honor direct debits (debit to customer account)

Value Date of the Debit

Paying out on a CORE-SEPA and COR1-SEPA direct debit

T11

Paying out on a B2B-SEPA direct debit T11

Submission of direct debits for collection (credit to customer account)

Value Date of the Credit Cut-Off Time / Date

CORE-SEPA direct debits, as one-off, as first of a recurrent serie, or with an amended12 mandate

T11, if received on

T - 6 TARGET days at the latest, by 11.00pm CORE-SEPA direct debits, recurrent in a serie, except

the first of that serie

T11, if received on

T - 3 TARGET days at the latest, by 11.00pm

COR1-SEPA direct debits T11, if received on

T - 2 TARGET days at the latest, by 11.00pm

B2B-SEPA direct debits T11, if received on

T - 2 TARGET days at the latest, by 11.00pm Execution terms for SEPA direct debits:

- SEPA direct debits can be used to collect funds both domestically and in other countries participating in the SEPA direct debit scheme. They are denominated in Euro and must provide the IBAN of the debtor (payer) and the BIC of the debtor’s (payer’s) payment service provider.

- The creditor (beneficiary) agrees with the debtor (payer), on the particular date(s) when funds will be collected (T). This date should be on a day on which the TARGET clearing house is open for business (TARGET day). Collections for non-TARGET days will be settled on the next TARGET day.

- SEPA direct debit orders must be received by ING Bank in time to be passed on to the payment service provider of the debtor (payer), i.e. not later than the above mentioned Cut-Off Times and Dates.

- At ING Bank, creditors (beneficiaries) can transmit SEPA direct debit orders up to 6 (six) months prior to the date when funds will be collected (T minus 6 months).

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"D" means the date on which ING Bank received the cheque for collection prior to ING Bank's Cut-Off Time. III Cheque Transactions

Requests to honor cheques (debit to customer

account) Value Date of the Debit

Honoring cheques in Euro D

Honoring cheques in foreign currency and international cheques in Euro

D

Submission of cheques for collection (credits to customer account)

Value Date of the Credit Cut-Off Time

Cheques in Euro, drawn on domestic bank D13+2 12.00noon

Cheques in Euro, drawn on a foreign bank/cheques in foreign currency

Credit after receipt of funds

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Annexes and Remarks

Countries of the European Union

Belgium, Bulgaria, Croatia, Cyprus, Denmark, German, Estonia, Finland, France, Ireland, Italy, Greece, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Sweden, Slovak Republic, Slovenia, Spain, Czech Republic, Hungary, United Kingdom

EEA Member States

Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France (incl. French-Guayana, Guadeloupe, Martinique, Mayotte, Reunion), Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia,

Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, Sweden, United Kingdom

EEA zone currencies

Bulgarian lew, Croatian kuna, Czech krona, Danish krone, Estonian kroon, euro, Hungarian forint, Icelandic króna, Latvian lats, Lithuanian litas, Norwegin krone, Polish zloty, Pound sterling, Romanian leu, Swedish krona, Swiss franc.

Business days

A business day is any day on which the payment service providers involved in the execution of a payment transaction operate as required to execute that payment. ING Bank operates as required for the execution of payments, on all working days, except

 on Saturdays

 on 24 and 31 December

 and on national statutory bank holidays and statutory holidays of the State of Hessen

ING Bank supports payment transactions via TARGET on public holidays, on which the TARGET clearing house is open for business (http://www.bundesbank.de/target2 /target2_leistungsumfang.php#oeffnungszeiten.)

Cut-off times and execution terms

Instructions received after the respective cut-off times may be executed on the following business day.

IBAN and BIC

IBAN is the abbreviation for “International Bank Account Number”.

BIC is the abbreviation for “Bank Identifier Code”.

ING DiBa AG Automatic Teller Machines (ATM)

For a current list of ING DiBa AG's ATMs, customers are advised to refer to www.ing-diba.de

Rules on fee sharing in international payment transactions

The customer can select among the following fee sharing options when effecting international payments:

 Payment instruction “SHA“ (SHARE): Payer assumes charges at its bank and beneficiary bears all other charges.

 Payment instruction “OUR“: Payer assumes all charges.

 Payment instruction “BEN”: Beneficiary assumes all charges, i.e. payment service providers such as ING Bank/correspondence banks will reduce the amount paid/passed through, by their own respective fees.

We automatically set payment instructions to SHA for transfers in Euro and EEA currencies, except when the transfer requires a currency conversion, or when the beneficiary is outside the European Union or an EEA State.

Meaning of "D" on value dates

Unless otherwise specified, "D" refers to the business date on which ING Bank receives an order from the ordering party prior to the Cut-Off Time applicable thereto in each case. This includes for example, domestic transfer orders, SEPA transfer orders, but also orders to collect direct debits; it also applies to cheques submitted for collection.

In the case of incoming transfers and debits which the customer has not itself ordered (e.g. when executing requests to honor direct debits or cheques), "D" refers to the business date on which ING Bank has received the incoming transfer, or respectively on which ING Bank has received the request from another payment service provider.

Conversion rate for foreign currency transactions

Unless otherwise agreed, foreign currency conversions for international transfers are executed at ING Bank's conversion rate from time to time. That conversion rate is based on market rates as of the date of the conversion, which

customers may also find, for example, at Reuters. Customers may see the precise conversion rate applied to a given transfer on their bank statements or may subsequently inquire with ING Bank with respect to the rates. ING Bank does not charge customers any additional conversion fees.

Repairs to payment instructions

Pursuant to our terms and conditions for funds transfers, orders containing errors may be rejected as 'non-executable'. However, we do reserve the right, in individual cases, to make repairs to payment orders. Such repairs are chargeable according to these Tariffs and Conditions.

Paper based / manual international transfers in Euro

Paper based / manual transfers are considered urgent, if they explicitly state the urgent nature of the transfer, for example by explicitly using words like "urgent" or "telegraphic". International transfers in Euro, which can be identified as urgent and, which are not transmitted electronically via an electronic banking system, will be routed for execution first via Target 2.

Should the execution not be possible via Target 2, such a transfer will instead be routed to the next best execution form, e.g. via SWIFT.

Rejection of payment orders and return of requests to honor direct debits with insufficient cover

Outgoing payments and requests to honor direct debits cannot be executed from accounts with insufficient cover, i.e. from accounts on which there is neither a sufficient credit balance available, nor has sufficient credit limit been granted. ING Bank deletes outgoing payment orders with insufficient cover at the end of the same business day. Customers will be notified about the deleted payment orders promptly

(13)

In case of insufficient cover to honor direct debits, ING Bank will notify customers about the direct debit requests by phone, promptly after receiving them. The requests will be returned as rejected at the end of the same business day, if cover remains insufficient. ING does not separately notify customers about the return of rejected direct debit requests. The above mentioned terms before deleting payment orders or returning direct debit requests, are meant to allow customers to subsequently secure sufficient cover. Payment orders or direct debit requests are automatically executed, once sufficient cover becomes available within those terms.

Return of cheques with insufficient cover

In case of insufficient cover, checks will not be honored and will be returned after one (1) day, without notification to the customer.

Address for cheques submitted for collection

Cheques submitted for collection per post should be addressed as follows:

P.O. Box 16 03 48 60066 Frankfurt am Main

This address applies also for the delivery of cheques in the “Lockbox” Service, directly by your debtors, should you have a prior agreement for this service with ING Bank.