Agreement between CDB AG Bank and the –°ustomer

Please read these Terms and Conditions carefully. By accessing this site and any pages linked to the home page, you agree to be bound by the Terms and Conditions below. If you do not agree with the Terms and Conditions specified below, please do not proceed with accessing this site.

(a) Hereinafter “the bank” shall refer to “CDB AG” and “the Customer” shall refer to anyone who proposes to open account with the bank (person or legal entity).

(b) By submitting an application to open an account, both parties certify that they understand all provisions of this agreement and shall abide by them throughout the period in which the Customer has an account with the bank.

(c) The applicant hereby declares that they are not a government or investigative agency for any country; that all information gained from our web site is strictly confidential and will not be used at any time, by any means, for any purpose other than personal use.

(d) The bank shall not be held liable for any losses or damages as a result of any possible forgery, misrepresentation or funds transferred into the Customer’s account per Customer’s instructions.

(e) The Customer shall not be held liable for any losses due to insufficient legitimacy or undisclosed forgery.

(f) All instructions to the bank shall have exact wording with respect to the subject of a transaction, corrections, confirmations and repetitions should be so noted. With regard to payment instructions, the Customer shall ensure that all necessary information be supplied to the bank for wire processing. This will include the Customer’s account number and name. The beneficiary information will include, the name of the beneficiary’s bank, its address, a SWIFT code or ABA number, (in case of no swift or ABA number Nil should be inserted), the beneficiary’s name and address and the amount to be wired. Where necessary correspondent bank information may also be required.

(g) All claims by the Customer for losses as a result of improper execution of the Customer’s instructions by the Bank must be submitted no later than 10 days after the date of giving the bank the instructions, assuming the instructions were legitimate and accurate to begin with.

(h) Any Customer’s instruction transmitted to the Bank via it’s internal Customer email server shall contain the Customer’s account number, BUT MUST NOT CONTAIN THE PASSWORD. The bank shall not be liable for any losses incurred as a result of fraudulent usage by a third party of the Customer’s account information to access and instruct the bank. Even though the bank has gone to great lengths to ensure that hackers cannot gain access to the Customer’s account, this does not preclude the possibility of a third party from obtaining the Customer’s account information and access passwords from the Customer by some other means.

(i) The bank will not be responsible for any investments, purchases or advice made directly or indirectly on behalf of its Customers, either jointly, severally or corporate. Under no circumstances will the bank be responsible for the performance, dishonesty or lack of performance of any third party.

(j) The bank reserves the right to confirm all account instructions by the Customer by phone, e-mail or fax depending on the situation. What action? Will only be taken should there be reason to question the instruction or if the bank feels it may be fraudulent.

(k) The bank shall not be liable for any delays, errors or misunderstandings in executing the Customer’s instructions, due to unclear instructions or any other reason beyond the bank’s control.
(l) The Bank shall not be liable for errors, omissions or delays of payments by a correspondent bank or a third party bank.

(m) The bank charges service fees of all funds received and will be deducted at the source before the amount is credited to the Customer's account. The Bank shall not for any reason debit the Customer's account. All debit shall be done by the Customer. The Customer agrees to the fees for services published by the Bank. The Bank retains the right to change the fees without notice.

(n) Transactions/transfer of funds shall be done online by the Customer. The bank has no right to do any transfer on behalf of the Customer.

(o) The Bank has the right to amend any entries to the Customer’s account that were entered incorrectly for any reason whatsoever.

(p) The bank guarantees confidentiality of information about their Customers, their accounts, deposits and transactions. Information about accounts will be released only in case of criminal activity to a legally recognized court who has proven that the Customer has been convicted of criminal acts relating to their account. This information will not be provided to tax authorities under any circumstance nor governments who are simply looking for potential criminal activity.

(q) The Bank retains the right to terminate relations with the Customer if the Bank receives a directive from a legal jurisdictional court to do so, or if the Bank receives information about the Customer that the bank believes to be reliable and damaging concerning the Customer.

(r) The Bank retains the right to close an account not being operated for a 3 months and wherein the balance on all SSA account are less than 990.00 Euro or equivalent. Force close accounts by CDB AG will result lost funds located on any other accounts and lost rights to have account with CDB AG in future. Reactivation of closed accounts is subject to pay by owner of closed account penalty in amount 15 000 Euro during 60 days from data when account was closed to account of CDB AG.

(s) The Bank retains the right to amend these Terms and Conditions without any notice. However, such amendments shall be posted on the Bank’s website for review at all times.

(t) All disputes shall be settled by means of negotiation between both parties. If however, there is a failure in reaching an agreement, then the dispute shall be settled by means of an arbitrator jointly acceptable to both parties. Any decision reached by the said arbitrator shall be binding and final on both parties without recourse to courts of law.

(u) I/We, acting with full authority and responsibility hereby confirm under penalty of perjury or fraud that my/our funds sent to the Bank shall be of non-criminal origin.

We provide service only for members of UK cooperative which is our business partner. We not provide any services for general public. To obtain any our service you must obtain cooperative's membership first.

Consultants and/or Relational Offices in:

  • Hong Kong,
  • P.R. China,
  • Turkey,
  • United Kingdom,
  • United States of America,
  • Russia.

The Bank attaches great importance to the development of correspondent relations with foreign credit institutions. An extensive network of correspondent accounts allows you to make international payments to customers and banks responding quickly, accurately and with optimal routing.

For more information, or specific requests, please e-mail us on:

Michael Gotsman (legal counsel maintenance VIP Customers) for more information, or specific requests, please e-mail us on:
+44 74 66 588 174

Alex Kogan (legal counsel maintenance VIP Customers) for more information, or specific requests, please e-mail us on:
+44 75 09 772 451