Fleet Virtual CashCard Agreement (for Organisations)

1.

Definitions

   
1.1 The following expressions shall have the meanings set out opposite them:
   
“Act” The Payment Systems (Oversight) Act 2006 including any amendments and supplements thereto from time to time.
“Active Vehicles” Fleet Vehicles which are not sold, de-registered or otherwise terminated by the Organisation or prevented from using the Fleet Virtual CashCard by the Organisation.
“Agreement” This Fleet Virtual CashCard Agreement (for Organisations).
“Banks” DBS Bank Ltd, Oversea-Chinese Banking Corporation Limited and United Overseas Bank Limited collectively and their respective successors-in-title.
“EPS” The Electronic Parking System, an electronic parking system operated by car park operators to facilitate cashless payment of parking charges which accepts Fleet Virtual CashCard.
“EPS Car Park” A car park that is able to accept cashless payment of parking charges through EPS.
“ERP” The Electronic Road Pricing (ERP) system managed by the Land Transport Authority of Singapore which accepts Fleet Virtual CashCard for payment of ERP charges.
“Fleet Vehicles” Vehicles owned by the Organisation and authorised by NETS to be covered under the Fleet Virtual CashCard.
“Fleet Virtual CashCar” A service that enables users to pay ERP and EPS Car Park charges using their credit/debit cards or by direct debit, used in connection with a NETS CashCard.
“IU” In-Vehicle Unit.
“NETS CashCard” A stored value facility (as defined under the Act) in both physical or virtual form, operated and managed by NETS, which is issued by NETS in Singapore under NETS’ brand name, trademark and/or logo “NETS CashCard” or “CashCard” for payment of NETS CashCard services in Singapore only excluding the NETS gift card.
“NETS” Network for Electronic Transfers (Singapore) Pte Ltd, a company incorporated in the Republic of Singapore and having its registered office at 298, Tiong Bahru Road, #04-01, Central Plaza, Singapore 168730, and its successor-in-title.
“Organisation” The organisation applying for the Fleet Virtual CashCard.
“Stored Value” The monetary value paid for and stored in a Fleet Virtual CashCard which may be used by the Fleet Vehicles for payment of ERP and EPS Car Park charges; and
“Transactions” The Organisation’s use of the Fleet Virtual CashCard for payment of ERP and EPS Car Park charges. .
   
1.2 Words importing the singular include the plural and vice versa and words importing a gender include every gender. References herein to Clauses shall mean the clauses of this Agreement.
   

2.

Relationship

   
2.1 NETS is the approved holder of the Fleet Virtual CashCard under the Payment Systems (Oversight) Act 2006 (including any amendments and supplements thereto from time to time) and the Banks are the approved banks and the terms and conditions herein shall bind the Organisation entering into this Agreement.
   
2.2 The purchase of the Fleet Virtual CashCard or subsequent use thereof by the Organisation shall be deemed to be acceptance by the Organisation of the terms of this Agreement.
   

3.

Registration

   
3.1 To register for the Fleet Virtual CashCard, the Organisation must register the particulars of the Organisation and the Fleet Vehicles, and ensure that the Organisation provides NETS with accurate, complete and updated information.
   
3.2 NETS shall have the absolute discretion in accepting or rejecting the Organisation’s application without furnishing any reasons for so doing. Furthermore, NETS shall not in any way be held responsible for loss of the application or any delay in the application process.
   
3.3 Registration of Fleet Vehicles under the Fleet Virtual CashCard is applicable to only Singapore-registered vehicles owned by the Organisation.
   
3.4 Registration of Fleet Vehicles is limited to 5,000 vehicles per Organisation (“Capped Number”). For the avoidance of doubt, NETS will only consider Active Vehicles when counting the Capped Number.
   
3.5 Registration may be either by credit/debit card (see Clause 6 below), or by direct debit (see Clause 7 below).
   
3.6 Upon the submission of the Organisation’s registration for the NETS Fleet Virtual CashCard application, an email will be sent to the Organisation informing the Organisation of the effective date for the activation of the Organisation’s NETS Fleet Virtual CashCard. This email will be sent within 3 working days for registration by credit/debit card and within 14 working days for registration by direct debit. Upon successful registration, the top-up amount specified by the Organisation will be deducted either from the Organisation’s credit/debit card or by direct debit in accordance with the Organisation’s method of registration.
   
3.7 For subsequent usage of the NETS Fleet Virtual CashCard, the NETS Fleet Virtual CashCard will be topped up with the sum which has been pre-selected by the Organisation when the Stored Value on the NETS Fleet Virtual CashCard reaches the Relevant Threshold. For the purposes of this Clause 3.7, the “Relevant Threshold” shall be the minimum sum of money in the NETS Fleet Virtual CashCard upon which the NETS Fleet Virtual CashCard shall be automatically topped up with a corresponding top-up amount as set out in the table below:
Relevant Threshold(S$) Top-up Amount(S$)
10 50
20 100
30 150
   
NETS reserves the right to vary the Relevant Thresholds with immediate effect at any time at its sole discretion by posting the new Relevant Thresholds on this website and/or through any other means NETS may elect. NETS also reserves the right to initiate a subsequent collection of the pre-selected top-up value from the credit/debit card or debit account in the case where the initial attempt to collect has failed.
   
3.8 In providing the Organisation with this website and the services under this Agreement, the Organisation understands and acknowledges that NETS merely provides the Organisation with an online platform to register for the NETS Fleet Virtual CashCard.
   
3.9 The Organisation has the responsibility of providing NETS with accurate, complete and updated information when using the NETS Fleet Virtual CashCard. The Organisation is required to promptly update NETS of any changes in the Organisation’s particulars relating to the NETS Fleet Virtual CashCard, including but not limited to any change in Fleet Vehicles, IU number, email (or other contact details), credit/debit card number and debit account number. NETS reserves the right to contact the Organisation via email, telephone or by any other means necessary (a) to clarify any particulars submitted by the Organisation; and/or (b) in cases where the Organisation’s registration fails for any reason whatsoever.
   
3.10 NETS will send notices or communications to the Organisation via the email account supplied at the time of the Organisation’s application, or such updated email account as may be supplied to NETS from time to time. Any notices or communications sent via this email account will be deemed to be effectively sent to the Organisation and legally binding.
   
3.11 The Organisation must receive NETS’ email confirmation before any of the Organisation’s actions or requests, including any registration / update of information / termination, becomes effective.
   
3.12 Until the Organisation receives NETS’ email confirmation informing the Organisation of the Organisation’s successful registration for the NETS Fleet Virtual CashCard, the Organisation must keep a CashCard with sufficient value in all its Fleet Vehicles’ IU to pay for all applicable ERP and EPS Car Park charges.
   
3.13 If the Organisation receives a notice suspending or terminating the NETS Fleet Virtual CashCard, the Organisation must immediately ensure that all the Fleet Vehicles keep a CashCard with sufficient value in all their IUs to pay for all applicable ERP and EPS Car Park charges.
   
3.14 In order to provide the Organisation with the NETS Fleet Virtual CashCard, the Organisation understands and agrees that NETS may collect, compile, store, process and use information belonging to the Organisation, including any personal data. The Organisation also agrees that NETS has the right to disclose to their subcontractors any such information collected from the Organisation for the purpose of operating this website and providing the NETS Fleet Virtual CashCard. The Organisation represents and warrants that insofar as any personal data of any individuals is disclosed to NETS for the purpose of providing the Organisation with the NETS Fleet Virtual CashCard, the Organisation has obtained the consents of these individuals for such collection, use, disclose and/or processing.
   
3.15 The Organisation is responsible for keeping its account details confidential at all times. Neither NETS nor the Banks and its affiliates, employees, officers, agents, partners or service providers, shall be liable for any misuse or unauthorised use of the Organisation’s NETS Fleet Virtual CashCard.
   

4.

Issuance and Validity of Fleet Virtual CashCard

   
4.1 The Fleet Virtual CashCard is issued subject to the payment of the registration fee and such other charges as may be imposed from time to time by NETS and the Banks in accordance with the terms of this Agreement.
   
4.2 The validity period of the Fleet Virtual CashCard commences from the date of issue of the Fleet Virtual CashCard and is dependent on the Organisation’s use of the Fleet Virtual CashCard. The account linked to the Fleet Virtual CashCard shall be closed and the Organisation’s access to the Fleet Virtual CashCard terminated if the Organisation’s account linked to the Fleet Virtual CashCard is not used for a period of three (3) years. NETS may at its sole discretion from time to time vary the validity period for the Fleet Virtual CashCard.
   

5.

Charges

   
5.1 The Organisation shall pay NETS the charges in the amounts specified in the Statement of Fleet Virtual CashCard Charges in Schedule 1 hereto.
   
5.2 NETS may revise the Statement of Fleet Virtual CashCard Charges from time to time and NETS will notify the Organisation of the new charges to be payable and the date upon which the same shall become payable (hereinafter called the “CashCard Charges Effective Date”) at least three (3) months prior to the CashCard Charges Effective Date. NETS will notify the Organisation of the new charges either by posting the new charges on this website and/or through any other means that NETS may elect. By continuing to use the Fleet Virtual CashCard after the CashCard Charges Effective Date, the Organisation shall be deemed to have accepted and agreed to the new charges.
   
5.3 All charges are quoted inclusive of goods and services tax and the Organisation is required to pay NETS the amount of such goods and services tax in respect of all sums payable to NETS hereunder. Prompt payment of all charges and other amounts due to NETS shall be of the essence of this Agreement.
   
5.4 NETS shall be entitled to charge interest on all monies payable by the Organisation hereunder at the rate of 1% per cent per month or such other maximum allowed under the applicable law from the date the monies payable hereunder shall be due and payable up to the date of payment, subject to a minimum of S$5. All fees and charges payable by the Organisation under this Agreement shall not be refundable in the event of termination of this Agreement howsoever caused.
   

6.

Credit/debit card

   
6.1. If registration is by credit/debit card, the credit/debit card used to register for the NETS Fleet Virtual CashCard must have a minimum validity period of 6 months before its expiry date.
   
6.2 The Organisation should only apply for the NETS Fleet Virtual CashCard using a valid Singapore issued credit/debit card from any of the Banks which has been issued to the Organisation. The invalid, illegal or unauthorized use of credit/debit cards or use of fraudulent credit/debit cards may result in the rejection of the registration by NETS. NETS will also report the invalid, illegal or unauthorized use of credit/debit cards or use of fraudulent credit/debit cards to the police or relevant authorities.
   
6.3 Upon successful registration for the NETS Fleet Virtual CashCard using a credit/debit card, NETS shall be entitled to charge to the credit/debit card all sums (including any top-up sums) due by the Organisation to NETS.
   

7.

Direct Debit of Monies Due

   
7.1 If registration is by direct debit, NETS shall be entitled to directly debit charges or other monies due by the Organisation to NETS hereunder from a designated account in the name of the Organisation with a bank or finance company acceptable to NETS.
   
7.2 Upon the execution hereof, the Organisation shall:-
   
 
(a) provide NETS with all necessary particulars of the account designated by the Organisation pursuant to Clause 7.1 hereof;
(b) execute a direct debit authorisation form addressed to the relevant bank or finance company in the form annexed hereto or in such other form as NETS shall acquire.
   
7.3 If the bank designated by the Organisation is not acceptable to NETS, NETS shall be entitled to require the Organisation to designate an account with another bank acceptable to NETS for the purpose of direct debits by NETS pursuant to Clause 7.1 hereof.
   
7.4 In the event that the information submitted online during registration and the physical Application Form for Interbank GIRO is incorrect, NETS has the right to update the online information with the approved information on the physical Application Form for Interbank GIRO.
   
7.5 NETS shall be entitled wholly at its discretion to waive the provisions of this Clause 7.
   

8.

Usage of Fleet Virtual CashCard

   
8.1 The Fleet Virtual CashCard shall only be used by employees of the Organisation.
   
8.2 The Organisation shall, and shall procure that its employees shall:
   
 
(a) use the NETS Fleet Virtual CashCard for payment of ERP and EPS Car Park charges only; and
(b) exercise all due care and diligence in the custody, care and use of the NETS Fleet Virtual CashCard.
   
8.3 A working IU must be installed in the Fleet Vehicles at all times.
   
8.4 NETS shall be entitled to charge a convenience fee of S$0.50, inclusive of GST, for each top-up transaction, which shall be charged to the credit/debit card number or debit account number indicated in the Organisation’s registration
   
8.5 The Organisation shall inform NETS in writing in the event that there is any change in credit/debit card number or debit account number or any of the credit/debit card details (including when the Organisation has been issued a new or replacement credit/debit card), Fleet Vehicle details (vehicle owner ID/vehicle number/IU number) and profile details.
   
8.6 If there is a change in credit/debit card number or debit account number due to loss, suspected fraud, credit/debit card upgrade or closure of debit account, the Organisation shall immediately inform NETS in writing of the relevant changes to enable NETS to continue providing the Organisation with the NETS Fleet Virtual CashCard. Without prejudice to the terms in this Agreement, Organisation acknowledges and agrees NETS may, at any time and notwithstanding that Organisation has registered for the NETS Fleet Virtual CashCard via credit/debit card or direct debit, elect to directly invoice Organisation for any sums due from Organisation in connection with the Organisation’s use of the NETS Fleet Virtual CashCard, and Organisation shall, within [insert number of days] days’ receipt of the invoice from NETS, immediately transfer via telegraphic transfer such sum to a bank account to be specified in writing by NETS.
   

9.

Transaction History

   
9.1 NETS will update and publish the Organisation’s Transactions online for its NETS Fleet Virtual CashCard for the Organisation’s viewing and access by the next working day
   

10.

Termination & Refund

   
10.1 [The Organisation shall terminate and re-register for the NETS Fleet Virtual CashCard should there be a change in the expiry date of the registered credit/debit card the Organisation has used to register with or if the registered debit account that the Organisation used to register with has been closed.]
   
10.2 If the Organisation sells or de-registers a Fleet Vehicle, the Organisation must immediately inform NETS to remove that vehicle from NETS’ records of the Organisation’s vehicles, failing which the Organisation will remain liable for all charges incurred by the vehicle under the NETS Fleet Virtual CashCard. The Organisation may re-register the Organisation’s new vehicles to be included in the NETS Fleet Virtual CashCard, subject to any applicable charges imposed by NETS for the re-registration.
   
10.3 The Organisation’s termination of the NETS Fleet Virtual CashCard will only be processed if the remaining balance of the NETS Fleet Virtual CashCard is more than zero.
   
10.4 The refund of any remaining balance in the Organisation’s NETS Fleet Virtual CashCard will be to the Organisation’s registered account for the NETS Fleet Virtual CashCard or any account designated by the Organisation at the termination page.
   
10.5 NETS shall have the absolute discretion to terminate the Organisation’s NETS Fleet Virtual CashCard facility at any time without notice to the Organisation, for example, if there are no vehicles in the Organisation’s NETS Fleet Virtual CashCard facility and if there are no updates to the Organisation’s profile in the last 60 days. NETS shall not be liable for any loss arising from the termination. For the purpose of determining the residual Stored Value in the event of a refund and for any other purpose, the value as determined by NETS from the central records of NETS shall, save for manifest error, be deemed conclusive and binding against the Organisation.
   

11.

Amendment of Terms

   
The Organisation expressly agrees that NETS shall have the right to amend any or all other terms of this Agreement by posting the new terms of this Agreement on this website and/or through any other means that NETS may elect. The Organisation’s continued use of the Fleet Virtual CashCard after the date of such notification shall be deemed to be the Organisation’s acceptance of such revised terms and conditions.
   

12.

Liability to continue

   
The liability of the Organisation under this Agreement shall continue not withstanding in the case of a firm, any change in its constitution whether by withdrawal, retirement, expulsion, death or admission of any partner or partners, amalgamation, dissolution or otherwise, in the case of a body corporate, the winding-up whether voluntary or compulsory or any amalgamation, reconstruction or otherwise and in the case of a statutory body, the amalgamation, merger, reconstruction, dissolution or otherwise of the Organisation.
   

13.

Limitation of Liability

   
13.1 The Organisation shall not hold NETS or the Banks liable for:
   
 
(a) any loss or damage suffered by the Organisation, directly or indirectly, in connection with any loss, suspected fraud or tampering with its credit/debit card or debit account;
(b) any failure to perform any of its obligations in connection with the Fleet Virtual CashCard;
(c) any loss or damage due directly or indirectly to any technical or other breakdown or default of the Fleet Virtual CashCard, EPS system, ERP system including data processing system or the network system used in connection with the Fleet Virtual CashCard; or
(d) anything beyond the control of NETS or the Banks, its servants, agents or sub-contractors;
   
except insofar and then only to the extent as such loss or damages is attributable to the negligence or wilful default of NETS or the Banks, its servants, agents or sub-contractors, in which event the maximum liability of NETS and the Banks respectively, whether jointly or severally, shall not exceed in the aggregate Singapore Dollars S$1,000 in respect of any occurrence or series of occurrences arising out of any one event or series of connected events.
   
13.2 Neither NETS nor the Banks shall be liable for any loss suffered by the Organisation, as a result of failure on the part of the Organisation’s employee to use the Fleet Virtual CashCard in a proper manner in accordance with the instructions of NETS or the Banks or the requirements of the ERP and/or EPS system.
   

14.

Representations and Warranties

   
By registering the Fleet Vehicles for the NETS Fleet Virtual CashCard, the Organisation represents and warrants that:
   
14.1 The Organisation has the necessary legal capacity, right, power and authority to enter into this Agreement, and use the services provided under this Agreement;
   
14.2 The Organisation has truthfully provided NETS with accurate, complete and updated information, belonging to the Organisation, or which the Organisation is otherwise authorised to use and disclose to NETS for the purposes of obtaining the Services. Without limiting the generality of the foregoing, the Organisation represents and warrants that the Organisation has provided NETS with:
   
 
(a) a valid Visa or MasterCard credit/debit card or a valid debit account number, where applicable;
(b) the correct vehicle and IU numbers of the Fleet Vehicles; and
(c) a valid and working email address; each of which is owned by the Organisation or which the Organisation is authorised to register and use for in connection with the Fleet Virtual CashCard;
 
14.3 The Fleet Vehicles which the Organisation has registered under the Fleet Virtual CashCard are Singapore registered vehicles owned by the Organisation;
   
14.4 The Organisation will promptly notify NETS of any change, loss or theft of the Fleet Vehicles, IU, Card or Card details;
   
14.5 The Organisation has read and accepted NETS’ Privacy Policy; and
   
14.6 Notwithstanding anything stated on any other document, description of service (including any FAQs), this Agreement, and the documents or links incorporated and referenced expressly elsewhere in this document executed in connection with this Agreement, constitutes the entire agreement relating to the subject matter herein. In the event of a conflict between this Agreement and such other documented executed in connection with this Agreement, such conflict will be resolved in favour of the Agreement unless the contrary is expressly agreed or indicated in such document.
   

15.

Indemnity

   
The Organisation shall indemnify and hold harmless NETS and the Banks in respect of any and all damages, losses, costs (including costs on a full indemnity basis) and expenses suffered or incurred by NETS and the Banks by reason of any breach or non-compliance by the Organisation of this Agreement herein or by NETS or the Banks enforcing any of the terms of this Agreement herein or preventing any breach thereof.
   

16.

Governing Law

   
16.1 This Agreement shall be governed by and construed in accordance with the laws of the Republic of Singapore. The parties hereby irrevocably and unconditionally submit to the non-exclusive jurisdiction of the courts of Singapore for all purposes in relation to this Agreement.
   

Schedule 1

Statement of Fleet Virtual CashCard Charges

Monthly Subscription Fee No Charge
Top-up Fee $0.50 (GST inclusive) per top-up for Credit/Debit Card *
$0.15 (GST inclusive) per top-up for GIRO

Service is applicable for all locally issued DBS/POSB, OCBC and UOB Credit/Debit Cards.

Top-up Fee is inclusive of GST.

* For UOB Credit/Debit Cards, the $0.50 top-up fee will be waived until further notice.

** NETS reserves the right to revise the charges from time to time.