demand deposit - natural persons general conditions · 4. if less than thirty transactions have...
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A - DEMAND DEPOSIT ACCOUNT GENERAL CONDITIONS
Clause 1: General regulations
1. Opening, operating, maintaining and closing demand depositaccounts with Banco Comercial Português, S.A., a companyopen to public investment and the Offshore Branch,hereinafter called the “Bank”, are subject to the Conditionsset out in this Chapter, to the Conditions in the applicableStandardized Information Sheet, to applicable bankinglegislation and to the banking practices in general.
2. The provision of services associated with the accountdescribed in chapters B to F depend on the acceptance ofthe respective General Conditions.
3. The Bank reserves the right not to open the demand depositaccount if the General Conditions in chapters A to F of thisinstrument are not fully accepted.
4. Other services may be associated with the demand depositaccount under separate agreements.
5. Nothing in this Agreement can be construed as consentingthat the Bank proposes to the Customer or that the Customersubscribes, through any of the remote means ofcommunication described in chapter D, products or serviceswhose sale is forbidden at any moment due to the nationalityor residence of the Client and his/her applicable jurisdiction.
6. Whenever applicable, the Client is committed to state in theCustomer Information Sheet his/her capacity as resident orcitizen of the United States of America and territories underits jurisdiction and in Canada, Australia, Japan or SouthAfrica, and to promptly inform the Bank of any changes inthis regard for the entire duration of the agreement.
7. For purposes of the previous number, the quality of residentor non-resident shall be verified according to the permanentresidence or residence for tax purposes of the Client inaccordance with the legislation applicable to the territory ofeach country therein listed.
Clause 2: Account Opening Process and delivery ofdocumentary evidence
1. The proposal for the opening of an account implies the fillingin and subscription of the Customer Information Sheet, thedelivery or presentation of documents evidencing theidentification of the Customer, the subscription of the GeneralConditions foreseen herein, the signing of the SignaturesSheet and the making of an initial deposit by means of asingle credit entry in the account for the minimum amountestablished in the Bank's pricing.
2. Documentary evidence is considered provided uponpresentation of the documents mentioned in the Notice ofBanco de Portugal nr. 3/2013 of 11 December (Notice) or, incases specified therein, upon presentation of those that theBank considers suitable for the purpose.
3. In accordance with the above-mentioned Notice, the Bank isobliged to verify the accuracy and sufficiency of thestatements produced and of the documents presented forthe account opening. Hence the opening is conditioned to:(i) the complete and evidenced identification of each one ofthe holders of the account and their representatives,including of all the individual empowered to use the account,as well as of attorneys, business managers or any otherindividuals that act, before the bank, on behalf of collectiveinterests centres without legal capacity, whenever applicable;(ii) the identification of the beneficial owners on account ofwhom the Customer acts and respective evidencedocuments, if applicable; (iii) the verification of the goodrepute and sufficiency of instruments that grant therepresentation powers and the powers to use the account, ifapplicable; (iv) the appropriate registry by the Bank of theCustomer's identification data as well as of the one of therepresentatives empowered to use the account and of thebeneficial owners, if applicable.
4. The current account will only be opened after the Bank hasverified the compliance with all the requirements for thebeginning of the business relation and the delivery orpresentation of all the required documents, as set forth bythe Notice. In the event of failure to present the Bank of theidentification data indicated in that Notice, whosepresentation is not indispensible for the beginning of the
business relation, such documents may be delivered within30 days but such failure shall prevent the Bank from effectingany debit or credit transactions subsequent to the initialdeposit, any payment instruments on the account shall notbe made available and any alterations to the respectiveownership shall not be allowed.
5. After three months have elapsed from the date the accountis opened and the documentary evidence of identity has notbeen presented pursuant to the preceding item, the Bankshall terminate the agreement, close the account and returnthe amounts delivered for the opening of the account, inaccordance with the regulations in force. The provisos setforth herein do not harm the application of any legal orregulatory requirements that establish other terms andconditions on this issue.
6. The Customer commits to communicate to the Bank anychange in the identification data delivered when the businessrelation commenced, even if such data relate to theCustomer itself, his/her representative or beneficial owner.
7. The same identification requirements set forth in the previousnumbers apply to the inclusion in the account of new holdersor representatives, where applicable.
Clause 3: Signatures
1. The signatures(s) of the account holder(s) and of theirrepresentative(s) may be verified (i) through the electronicpresentation or utilization of an equally valid publicdocument, containing the picture and signature of its holder,issued by a public competent authority, (ii) by resorting to theinteroperability platform between information systemsbelonging to the Public Administration, (iii) by the qualifiedelectronic signature, pursuant to the requirements set forthby law, (iv) by the remote access to the image of the writtensignature with a safety degree similar to the use of thequalified electronic signature.
2. Whenever the account utilisation instrument is a documentcontaining the Customer's signature, the Bank may check itby similarity with the one appearing in the Signatures Sheetor with the one apposed in the respective identificationdocument recorded by the Bank.
3. The signatures appearing in the Signatures Sheet of theaccount opening agreement are valid for all related accounts.
Clause 4: Attorneys
1. The account may be used by means of a power of attorneygranted by the Customer provided that it specifically conferspowers for that specific purpose and is granted, in person, atthe bank or through the certification in person of thesignatures apposed made by a Notary or any other entitylegally entitled to do so.
2. However, the Bank only recognises and accepts the power ofattorney whose original or certified copy is delivered to theBank.
3. The attorney must fill in the Information Sheet and theSignatures Sheet and also present and deliver thedocuments evidencing his/her identification data.
4. If the Customer revokes the power of attorney, he/she mustimmediately inform the Bank of that fact.
5. The attorney may waive the utilization of the account andmust notify the Bank of that fact.
Clause 5: Address and email address assigned to theaccount
1. Notwithstanding the duty imposed by the Notice that theCustomer and his/her attorneys must evidence and keepupdated his/her permanent full address and, if different,his/her address for tax purposes, in accordance with clause2 of this Chapter, the Client may indicate another address orindicate an e-mail address to where the Bank will send allaccount related correspondence, except if otherwise isspecified.
2. The Customer shall be responsible for maintaining updatedthe address or email address assigned to the account.
3. When the account is a joint account and without damagingthe provisos of the following numbers, the holders agree thatany of them who autonomously is entitled to use the accountmay request a change of the address or e-mail address
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Demand Deposit - Natural Persons
General Conditions
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allocated to the account as if he/she is an attorney. However,the Bank may condition the above mentioned alteration tothe delivery of written instructions subscribed by all the co-holders if the account has payment instruments or loansattributed or contracted by only one of the account holders.
Clause 6: Account Statements
1. In addition to transaction slips and other notifications relatingto special account transactions, the Bank shall provideperiodic demand deposit account statements which mayinclude information relating to other products and servicesassociated with the account, including the detail oftransactions made with payment instruments attributed toany signatory to the joint account.
2. It shall be the Customer’s responsibility to check thestatement provided and, when a discrepancy is found, submita complaint within 15 days.
3. Account statements are offered to the Customer free ofcharge at least once a month, and may be subject to theprovisions of the following number when sent by post.
4. If less than thirty transactions have occurred on the demanddeposit account in a certain month, the statement shall onlybe sent when the above-mentioned minimum number oftransactions has been reached or, in any event, at the end ofa twelve-month period.
5. However, upon express request from the Customer, the Bankshall mandatorily provide account statements on paper atleast once a month.
Clause 7 :Communications
1. All correspondence relating to the account - notifications andinformation the Bank has to provide under this Agreement orby law in writing to the holder, as well as disclosures,marketing and remote contracting of financial products andservices (combined or autonomous statements, transactionslips, information notices or other communications),hereinafter designated as banking documents - may beprovided by post sent to the holder at the address assignedto the account, provided by the same at the time thisAgreement was entered into, or, should this have changed,to the last address provided.
2. As an alternative to sending correspondence to theCustomer’s address, the Bank is hereby authorized toprovide banking documents by the following means:a) Through an email message addressed to the holder sent
to the email address provided by the same expressly forthis purpose, when this Agreement was entered into orat a later time;
b) By fax sent to the number provided by the holder whenthis Agreement was entered into, or if this has beenchanged, to the last number expressly provided for thispurpose;
c) By another means of communication agreed between theparties.
3. Unless otherwise agreed, and the conditions of use of meansof remote communication having been undersigned, accessto Internet Banking being available, account statements shallbe provided to the Customer via the websitewww.millenniumbcp.pt.
4. Whenever agreed and access to the Internet BankingChannel is available for providing banking documents, it ishereby expressly agreed that the Customer shall beresponsible for being permanently updated and informed,accessing the Internet Banking site for this purpose andperiodically and frequently consulting the banking documentstherein available and reading and checking them.
5. The Customer understands and accepts that sending orproviding banking documents by the means mentioned in 2and 3 above will free the Bank from the responsibility to sendthem by post to the address assigned to the account.
6. When postal services are used, unless otherwise proven, thecorrespondence is assumed to have been received on thethird day after posting.
7. The Bank is entitled to, by means of a specific agreementmade for that purpose, withheld all the mail relating to theCustomer. For the provision of this service, the Bank maycharge a fee. In case the Customer does not collecthis/her/its correspondence within a two-tear term, the Bank
reserves itself the right to destroy the same. The mailwithheld by the Bank shall be considered delivered on thedate mentioned therein. The Customer shall pay all mailexpenses.
8. The Bank may convey information through a messageincluded in the account statement of the demand depositaccount to be remitted or made available to the Customer bypaper or electronic mail.
9. In the course of the contractual relation, the Customer isentitled to receive, at his/her/its request and at any moment,the terms and conditions of this Agreement or of anystandard-agreement related with any payment servicesspecifically agreed separately, in paper or any other long-lasting support.
Clause 8: Average Balances
1. The maintenance of each type of demand deposit accountmay be subject to observance of certain average balances.These shall be set and later changed by prior notification bycircular letter, message on the account statement or otherappropriate means.
2. Failure to observe the average balances established for thetype of account concerned may result in its closure and non-payment of interest, plus service fees and fees for eachtransaction being charged.
Clause 9: Ownership and utilisation conditions
1. Are called the holder(s) of the account(s), active parties ofthe contract.
2. Accounts that are not individual shall be:a) joint-tenancy, if only one of the holder is needed to
exercise rights over the account; b) tenants-in-common, if the intervention of all the holders is
needed; c) mixed, if another criterion is established.
3. Products, services and different kinds of accounts may beassociated with the demand deposit account, such as termdeposit accounts or securities accounts, always with thesame ownership and subject to the same transactionconditions.
4. For certain types of accounts, the Bank may not provide allthe transaction conditions indicated.
5. Any change in the transaction conditions established whenthe account is opened, as well as the inclusion of newholders and the attribution of attorneys with powers toexecute transactions, depends on the intervention of allholders and affects all associated accounts, which mayrequire the prior settlement of taxes or fees established bythe regulations in force at the time.
6. In a joint account and regardless of the transactionarrangement provided, the holders agree that, if the Bankdoes not oppose this, namely due to the existence ofliabilities associated to the account or the non return of themeans of payment delivered to the holder, any of them mayarrange his/her own removal from the account, andconsequently have no rights or obligations arising from thisagreement, without prior authorisation from the others.
7. The removal from the account determines the termination ofownership also in relation with the associated accounts aswell as the cancellation of the services thereto related.
8. The removal from the account does not confer the right tothe totality or a portion of the funds deposited in the accountor in associated accounts nor to the totality or a portion ofthe financial instruments registered in an associated financialinstruments account.
9. The waive to the ownership, will determine that therenouncer must also deliver the cheques not used and thepayment instruments associated to the account orassociated accounts in his/her possession.
Clause 10: Cheques
1. A cheque agreement shall be considered concluded subjectto the Uniform Law Regarding Cheques and other laws andregulations in force when the Customer requests chequesand the Bank agrees to issue them.
2. The cheque agreement may be rescinded at any time, andmust be, in accordance with the law, by notification to Banco
Mod. 10900436
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de Portugal for inclusion on the list of cheque users thatpresent risk, whenever conducts occur that undermines thespirit of trust underlying the agreement established.
3. Where there is a rescission of the cheque agreement, theaccount holder or his/her representatives shall have to returnto the Bank the cheque books supplied by the Bank and notyet used as well as to pay all the expenses related with therescission process, in accordance with the pricing madeavailable, at any moment, by the Branches.
4. Unless otherwise indicated by the Customer, cheque booksrequested shall be sent by post to the address assigned tothe account.
5. The Bank may provide chequebooks by means of automaticmachines through the insertion of the card associated withthe account and the entering of the PIN number.
6. The Bank may append an expiration date to the cheques thatit agrees to provide, after which they may not be issued. Thereturn of these unused cheques to the bank before or aftertheir expiration date shall not result in any refund. The Bankreserves the right to pay any un-revoked cheque presentedfor payment, even if it has been issued after the end of therespective period of validity, without this presentationdepending on the terms and deadlines set out in the UniformLaw.
7. The Bank may append to the cheques that it undertakes toissue a “not to order clause”, these cheques not thereforebeing transferable by endorsement.
Clause 11: Other means of transaction
1. Transfer orders, account debit authorisations and any othermeans of payment may be employed or allowed by the Bank,provided that the transfer conditions established areobserved and, if applicable, the conditions set out in ChapterB below;
2. Participation in systems that offer account transactions viathe Internet or by recourse to other technologies may dependon the acceptance of the conditions set out in Chapter Dbelow.
3. The issue of a debit card shall remain also conditioned to thesubscription of the specific general conditions for thatpurpose and depends on the request made by a holder withaccount utilization powers.
Clause 12: Credit transactions
1. Account transactions relating to cheques drawn on othercredit institutions and other amounts for collection shall onlyobligate the Bank to provide the respective amounts after thepayment clears.
2. The interests paid in remunerated demand deposit accountsshall be credited in accordance with the periodicity and ratesthat, at any moment, appear in the pricing, in case anyspecial regime has been agreed and shall appear in thefollowing account statement.
3. The proceeds resulting from the redemption of terminvestments and of the sale or reimbursement of securities ofassociated accounts, respective interests and other incomeshall be deposited in the demand deposit account. The creditcan only be made in other deposit accounts pursuant to thebank’s authorization.
4. Except if otherwise is agreed between the Customer and theBank, all the credits made in a currency different from theone of the account shall by converted by the Bank into thecurrency of the account, at the rate in force on the date thetransaction is made.
Clause 13: Debit transactions
1. In addition to loans and other transactions resulting fromdebit authorisations, shall be debited from the currentaccount, the fees, expenses, default interests, taxes andother charges relating to the account and to other accounts,products or services thereto associated due by therespective holder or by any co-holder.
2. Debits may be entered on the account of bills accepted bythe account holder, or by one of the joint holders with powersto make transactions, through prior notice sent to the addressassigned to the account, unless otherwise arranged.
3. Without damaging the provisos of the following number, theBank is not obliged to accept debit orders in the current
account transmitted by the holder by any mean, namely,cheque, card or other, that exceed the funds available in thecurrent account or, if there is an agreed overdraft facility, thatexceed the limits of the latter and is entitled to, totally orpartially, not execute the above-mentioned orders or to returnthe same due to lack of funds.
4. Debit transactions that exceed the available balance shallresult in the application of an overdraft fee and/or overdraftinterests at the rate in effect for that credit surpassingsituation and, unless an overdraft arrangement has beenauthorised, the Customer shall settle the overdraft amountby the close of business on the day it occurs or, if a Saturday,Sunday or public holiday, by the first subsequent workingday.
5. If called to settle the overdraft amount mentioned in theprevious number and the holder fails to do so during theperiod of time set forth by the Bank, apart from the applicableregular interests rate, the holder shall have to pay a defaultinterest surcharge of up to 3%/year or other charge permittedby law.
6. The regular interests may be compounded pursuant to adecision unilaterally made by the Bank without the need tonotify the holder.
7. Any overdraft registered in a joint account, caused by thepayment of a cheque, a transaction made with a card or bythe execution of any payment instruction or order issued ormade by one of the co-holders, represents a responsibilityof all the joint holders and the Bank may demand from anyof them their full payment or settlement.
Clause 14: Handling of Customer’s Instructions
1. The instructions relating to the demand deposit account mustbe remitted to the Private Banker or the person replacinghim/her. The same must be issued in writing in thePortuguese, Spanish or English language, expresslyindicating the relevant account number.
2. Through a specific agreement entered into for that purpose,the Bank may accept receive instructions by phone, facsimileor e-mail. These instructions must strictly comply with theaccount utilization conditions and the Bank may afterwards,demand the confirmation through an original, written andtrustworthy document.
3. The Customer hereby acknowledges that services and/oroperations provided by the Bank shall be subject tointerferences, interruptions, disconnections or otheranomalies, namely in the event of breakdowns, powersurges or other events outside the Bank’s control, theCustomer expressly accepting that the Bank shall not beliable for current or potential damage or losses, includingfuture earnings, that may directly or indirectly result to theCustomer from such events.
4. The Customer authorizes the Bank to contact him/her, at anytime, for purposes strictly connected with the need to gethis/her/its validation of financial transactions using his/her/itsassets that the Bank consider as potentially fraudulent.
5. For safety reasons, the Customer expressly authorizes theBank to record the instructions and orders transmitted byphone.
6. The instructions involving foreign components can only becarried out on the days when the Banks or other involvedinstitutions are open for business in the country or countriesin question.
7. If contradictory instructions on the joint account are receivedby the Bank, the Bank will comply with the instruction able ofbeing executed received firstly or, alternatively, will refuse toexecute, without prior confirmation of one of the instructionsby all the account holders. The Customer will be responsiblefor eventual losses or damages resulting from the Bank'sperformance due to the way it understood its Customer'sinstructions.
8. The Customer hereby authorizes the Bank to correct, withcredit or debit back valuation, demonstrably erroneous orundue transactions made on the demand deposit account orassociated accounts, in order to rectify the transactions.
Clause 15: Compensation of credits
Notwithstanding the right to offset claims in accordance with thelaw, the Bank’s right to settle, in whole or in part, any claim that
Mod. 10900436
07-1
6 M
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. Jo
ão I
, 28
, O
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ith S
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pany
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n O
ffice
of
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rto,
with
the
uni
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stra
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and
tax
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tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
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reg
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r un
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no.
33.
Fin
anci
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nter
med
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reg
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on t
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ortu
gues
e S
ecur
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Mar
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. 10
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7. A
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Página 4 de 30
it holds over the account owner, or any of the joint-owners, isexpressly acknowledged, debiting any account of which they aresole or joint owners with the amounts owed to it by any of theabove-mentioned account owners without prior notice.
Clause 16: Pricing
1. The pricing in force at any moment, containing theremuneration and charges applicable to the current accountand to the remaining products and services commercializedby the Bank is available at the Bank's branches and website.The Annex to this Agreement contains an excerpt of thepricing mentioned above and the general conditions, withasset related effects of the more relevant operations orservices, in force on the date this Contract is signed.
2. The Bank reserves the right to, at any time, alter any pricingitem.
3. The alterations introduced in the pricing shall becommunicated to the Customer 30 days prior to theirentrance into force via the account statement or any othermeans deemed appropriate by the Bank, without damagingany other legally or regulatory established deadlines.
Clause 17: Amendments
1. The Bank shall communicate any amendments that affectthese general conditions by circular letter, message on theaccount statement or by another appropriate means with twomonths prior notice.
2. The amendments referred to in the preceding number shallbe considered accepted by the Customer if the Bank has notbeen notified of their non-acceptance before the dateproposed for the same to come into effect, the Customerbeing entitled to immediately dissolve the account openingagreement free of charge on the grounds of these changes.
Clause 18: Duration and termination of the Contract
1. The Contract shall have an indefinite duration. 2. Either of the parties may, at any time, terminate this
Agreement, closure of the demand deposit account beingconsidered as such.
3. The closing of the demand deposit account on the initiativeof the Customer shall depend on the declaration of all ownersand may be effective immediately, provided that the accountdoes not have a negative balance or are thereto associatedany other liabilities assumed before the Bank due to loans,bank guarantees, documentary credits, foreign exchangeoperations, discount of bills, payment services or any otheroperations or services.
4. The closure of the account on the initiative of the Bank shallbe communicated in writing to the address assigned to theaccount at least two months in advance.
5. The Bank may terminate the contract and close the account,effective immediately, without prior notice, whenever (i) itverifies that any data provided by the Customer for accountopening purposes or for the execution of any operationthereto related are false or incorrect, (ii) the Customer entersin default or does not comply with any duty emerging fromthis Agreement and this fault has not been remedied withinthe reasonable period of time established by the Bank forthat purpose, or (ii) pursuant to the provisos of clause 23 ofthis chapter.
6. With the closure of the account, the respective chequebooksand other associated means of payment must be returned tothe Bank, the Customer assuming liability for any damagesresulting to any person from their use.
7. If on the date the closure takes effect there is a positivebalance, after deducting the respective closure fee, ifapplicable, the Bank shall pay this amount to the Customerby bank transfer into an account expressly provided by them,by letter cheque or by bank cheque payable to the primaryaccount holder sent to the address assigned to the account.
8. If the correspondence mentioned in the previous number isreturned, the account balance in favour of the Customer willbe transferred to a settlement account and may be withdrawnby the Customer provided that such balance is not distrainedor reversed. In any case, the costs, charges and taxes dueas a result of the maintenance of the remaining funds in thesettlement account shall be paid by the Customer.
Clause 19: Banking Secrecy
1. Under the terms of the Legal Framework for CreditInstitutions and Financial Companies, the members ofcorporate bodies, employees, attorneys and otherpermanent or occasional outsourcers in credit institutionscannot reveal or use information on facts or items relating totheir clients, of which they have taken cognizance due to theexercise of their functions.
2. The duty of secrecy shall cease to exist pursuant to anauthorization for that purpose conveyed by the Customer tothe Bank or in as much as it becomes necessary for the Bankto exercise any right over the holder or proxy holder of theaccount and in all remaining situations permitted by law;
3. Should the account receive pensions or other socialpayments from resident or non-resident entities, after thebeneficiary of such payments is deceased, the Bank isauthorized to provide to such entities or outsourcers thename and address of the co-holders or of other people whomay be entitled to the funds corresponding to suchpayments.
Clause 20: Personal data processing
1. The Customer hereby authorizes the Bank to processpersonal data provided by them, the accesses, searches,instructions, transactions and other records relating to thisagreement, or relating to other agreements entered into withthe Bank, as well as to process information relating to themcollected indirectly by other sources, using or not automatedmeans.
2. Moreover, the Bank is authorized to keep a digital record ofthe Customer codes and instructions transmitted by them,including telephone conversations under the scope ofspecialized telephone channels, for proving and ensuring thequality of the commercial transactions carried out betweenthe Bank and the owners of the personal data, and may beused in court in the event of legal action.
3. The Bank, the complementary groups of companiesconstituted by it, or companies owned or participated by itshall be liable for processing the data, including thecompanies, branches and representative offices of the Bankestablished abroad, to which the same may communicatethe data collected and recorded.
4. The Customer hereby authorizes the entity to which thepersonal data is communicated pursuant to the precedingparagraph to use the same for updating their respectiverecords.
5. The sub-contracted entities, as well as service and licenseproviders, including those with registered office outside theEuropean Union, may have access to the data collected andrecorded by the Bank whenever that access is necessary forthe Bank to be able to offer to the Client its products andservices or to comply with the contractual obligationsestablished between the Bank and the Client.
6. The purpose of the data processing is exclusively related togaining knowledge of the Customer and the prosecution ofthe activity of the entity responsible, which requires, namely,guaranteeing service levels, minimizing financial risks,gaining knowledge of credit liabilities, allowing the exerciseof rights and complying with the contractual liabilitiesemerging for either party, the adoption of credit controlprocedures and Customer and service databases, statisticalprocessing or matching products and services to theCustomer, the contact management and carrying outmarketing with the same.
7. Under the terms of the law, the right to information,correction, addition or deletion of personal data isguaranteed, by notification in writing to the Bank.
Clause 21: Deposit Guarantee Fund
1. Deposits held with the Bank enjoy a refund guarantee offeredby the Deposit Guarantee Fund whenever deposits areunavailable for reasons directly related to their financialsituation, pursuant to current law.
2. The Deposit Guarantee Fund guarantees refunds up to amaximum amount of 100,000 Euros for each depositor. Incalculating the value of deposits for each depositor, the valueof the group of deposit accounts is considered on the date onwhich the payment was unavailable to them, including
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Fin
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med
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reg
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interest and, for balances in foreign currency, converted intoEuros at the exchange rate on that day.
3. For further information, please visit www.fgd.pt.
Clause 22: Extrajudicial complaint and appeal procedures
1. The Customer may submit complaints or grievances foractions or omissions by bodies and employees of the Bankto the Ombudsman, who will consider them after thenecessary investigations have been conducted, and mayissue recommendations to the Bank’s Executive Board ofDirectors. The recommendations of the Ombudsman arebinding for the bodies and services, after approval by theabove-mentioned Board. Questions should be submitted inwriting for the attention of the Ombudsman, using theaddress shown for the purpose at www.millenniumbcp.pt.
2. The Client may also present his/her claims to Banco dePortugal. For that purpose it may choose to use theComplaints Book available at the Bank's branches. ThisBook will be delivered by the Bank immediately after beingrequested by the Client or the Client may access it by meansof the Bank Client Portal where he/she may fill in and printthe online claim form and send it by mail to the address ofBanco de Portugal, as per instructions described in theabove mentioned Portal.
3. Disputes involving amounts equal or under those handled bythe lower stage courts may, as an alternative to thecompetent judicial means, be submitted to the followingentities specialized in the extrajudicial resolution of disputes:The Consumption Conflicts Arbitration Centre of Lisbon(www.centroarbitragemlisboa.pt) and the ConsumptionInformation and Arbitration Centre of Porto (www.cicap.pt).
4. The Client may submit online his/her disputes to be solvedoutside the court relating to subscribed products or servicesusing the platform ODR – online dispute resolution(https://webgate.ec.europa.eu/odr/main/?event=main.home.show),a platform created by the EU to be used by all members ofthe EU pursuant to Regulation (EU) nr. 524/2013 of theEuropean Parliament and of the Council dated 21 May 2013.
5. Please be informed that the Bank has available a service thatreceives and makes an extra-judicial handling of any claimsthat the Clients wish to present; For that purpose, the claimsare to be sent to: Customer Care Centre via the number707502424 and/or by e-mail to the addresswww.millenniumbcp.pt and/or in writing, the complaint beingaddressed to Avenida Doutor Mario Soares (Tagus Park Edf9) Porto Salvo.
Clause 23: Anti money laundering and terrorism financing
1. In accordance with the law, the Bank may refuse or suspendthe execution of the operation ordered by the Client as wellas put an end to the business relation whenever it suspectsthat the same is related with the practice of moneylaundering or terrorism financing and also when the accountholder does not provide the information required inaccordance with the law, namely information on the originand destination of the funds.
2. If the information required to update the Client's identificationdata or the identity of the beneficial owners is not provided,it may determine, as an alternative to the end of the businessrelation, the blocking of the account. The provisos set forthherein do not harm the application of any legal or regulatoryrequirements that establish other terms and/or conditions onthis issue.
Clause 24: Supervision Authorities
Banco Comercial Português, S.A. is subject to supervision byBanco de Portugal, with registered office at Rua do Ouro, 27(1100-150 Lisbon), the “Comissão do Mercado de ValoresMercados“ (Portuguese Securities Market Regulator), withregistered office at Av. da Liberdade, no. 252 (1056-801 Lisbon)and the “Instituto de Seguros de Portugal“ (PortugueseInsurance Institute) with registered office at Av. da República,no. 76 (1600-205 Lisbon), under the scope of the specificcompetencies of each Entity.
Clause 25: Language
The banking relationship established between the Parties,including the conclusion of the account opening agreement and
the provision of payment services, shall be conducted inPortuguese, with the exceptions foreseen in Clause 14 (1)(Handling of Customer’s Instructions).
Clause 26: Governing law and jurisdiction
The Portuguese law and jurisdiction shall govern this agreement.The parties hereby define that the courts of the district of Lisbonor Oporto and of the Client’s domicile in Portugal shall judge allmatters arising from this Agreement, expressly renouncing allothers.
B - PROVISION OF PAYMENT SERVICES - GENERALCONDITIONS
Clause 1: Scope
1. The General Conditions set out in this Chapter are intendedto regulate the terms and conditions of Customer access tothe payment services, pursuant to the Legal Framework ofPayment Services approved by Decree-Law no. 317/2009 of30 October, which transposes onto domestic law Directiveno. 2007/64/ CE of the European Parliament and Council of13 November 2007, hereinafter called “payment services”,which shall apply indefinitely, the Bank being entitled tochange them pursuant to Clause 3 below.
2. The payment services provided by the Bank shall also besubject to the provisions of Chapter A above in relation to thepart of this Chapter not specially regulated, notwithstandingthe General, Special and Specific Conditions that may beapplicable to a service specially contracted between theCustomer and the Bank.
Clause 2: Payment services and transactions
1. Notwithstanding other services regulated by specificagreements, the Bank provides the hereinunder indicatedpayment services associated with the demand depositaccount. Those services contain the following maincharacteristics: a) Direct debits - a payment service that consists of a debit
to a payment account of a payer, the payment operationbeing initiated by the beneficiary based on the consentgiven to the beneficiary by the payer, the beneficiary’spayment services provider or the payer’s paymentservices provider;
b) Payment card - payment instrument generally in the formof a plastic card provided by the payment servicesprovider to the bearer so that, by accessing atelecommunications network, they make payments forgoods and services and raise debit or credit notes, orcarry out other operations;
c) Bank transfers - payment operations carried out on theinitiative of the payer, conducted through a paymentservices provider and intended to place funds at thedisposal of a beneficiary, by the debit and credit ofdemand deposit accounts. The same entity may besimultaneously the payer and the beneficiary;
d) Money remittance - a payment service that involves thereceipt of money from a payer, without any paymentaccounts being created for either the payer or the payee,with the exclusive purpose of transferring thecorresponding amount to a payee or another paymentservices provider, acting on behalf of the payee, thereceipt of these funds on behalf of the payee andrespective delivery to the latter;
e) Cash deposits and withdrawals - payment service thatconsists of the payment or receipt of notes or coins out ofor into a demand deposit account.
2. Payment operations conducted between accounts open atthe Banco Comercial Português, S.A., owned by the same ordifferent people shall be considered intrabank operations.When the payment operations involve other paymentservices providers in addition to the Bank, they shall becalled interbank operations.
3. With the exception of the provisos set out in the followingsubparagraph the payment services regulated under theseGeneral Conditions solely cover intrabank operations,domestic interbank operations and interbank operationsto/from payment services providers located in MemberStates of the European Union or the European EconomicArea, conducted in Euros and other currencies of theseStates.M
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Pub
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, 28
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el.:
+35
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5024
24.
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: w
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.mill
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p.pt
. C
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Por
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no.
33.
Fin
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nter
med
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reg
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red
on t
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ortu
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ities
Mar
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. 10
5.T
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4. In any event, the provisions of Clause 8 (6) (7 and 9 ) of thisChapter also apply to any international interbank paymentoperations, provided that they are conducted in Euros andother currencies of the Member States of the EuropeanUnion and the European Economic Area.
Clause 3: Amendments and termination
1. The Bank shall notify, with two months advance notice, anyproposed changes to the General Conditions set out in thisChapter by circular letter, message on the account statementor other appropriate means, the same coming into effect afterthe aforementioned period, notwithstanding the provisions ofthe following subparagraph.
2. The Customer shall be considered to have accepted thechanges stated in the preceding subparagraph if it has notnotified the Bank of its non-acceptance before the dateproposed for their coming into effect, the same being entitledto immediately terminate the agreement free of charge onthe grounds of these changes.
3. Changes to interest rates or exchange rates may be appliedwithout prior notice if they are more favourable to theCustomer, or immediately and without prior notice if they arebased on reference interest rates or exchange rates.
4. In the situations set out in the preceding subparagraph, theBank shall notify the changes made using the means set outin nr. 1 above, at the latest during the next month.
5. The Bank may, at its own free will, cease providing any ofthe payment services described in the previous clause, bygiving two months prior notice from the date on which thetermination shall take effect.
Clause 4: Unique identifier, access codes and PIN codes
1. “Unique identifier” is understood as the combination ofletters, numbers or symbols specified to the Customer by theBank, which the Customer must use to unequivocally identifythe respective payment account in order that a payment maybe properly executed.
2. The Bank shall provide the Customer with the followingunique identifiers: a) NIB or Bank Identification Number - standardized
information element used to identify bank accountsdomiciled in Portugal. It is composed of 21 digits, the first4 being the code of the bank at which the account isdomiciled, followed by the sort code or branch, theaccount number (11 digits) and two control digits;
b) IBAN or International Bank Account Number - informationelement that allows the beneficiary’s bank account to beidentified and validated within the European EconomicArea. The IBAN of accounts open at credit institutionslocated in Portugal is composed of 25 characters, the BINprefixed with “PT50”;
c) BIC or Bank Identifier Code - SWIFT code (internationalcommunications network used by financial institutionsworldwide).
3. Access codes and PIN codes allow the use of remotechannels; the respective conditions are set out in Chapter D(General Conditions of Use of Remote CommunicationsChannels).
4. PIN codes also allow the Customer to use payment cards;the respective conditions are stipulated in the agreementsspecially concluded for the Customer to access any paymentcard product.
Clause 5: Payment orders
1. A payment operation or set of payment operations may onlybe considered authorized if the Customer gives their priorconsent to its execution, notwithstanding the Customer andthe Bank agreeing, for certain products and services or forcertain operations, that consent may be given at a later date.
2. The consent mentioned in the preceding subparagraph mustbe given expressly by a document presented at any Bankbranch, unless otherwise agreed between the parties inrelation to certain products or services or certain operations.
3. The consent may be withdrawn by the Customer at any time,in the manner set out in 2 above, but never after the point ofirrevocability established in the following Clause.
Clause 6: Revocation of payment orders
1. Except as provided in the following subparagraphs, apayment order issued by the Customer may not be revokedby them after being received by the Bank, or up to a deadlineof one working day before a date specially agreed betweenthe parties.
2. A payment operation ordered by the Customer but initiatedby or through the beneficiary may not be revoked after theCustomer has notified the beneficiary of this order, or theirconsent to the execution of the payment operation has beengiven.
3. In any case, in the event of a direct debit payment operationordered by the Customer but initiated by the beneficiary, andnotwithstanding the right of refund set out in Clause 15, theCustomer may revoke the payment order up to the lastworking day before the date agreed for the funds to bedebited.
4. The Bank reserves the right to charge fees for the revocationof the payment order.
Clause 7: Receipt of payment orders
1. The time the payment order is received coincides with thetime at which the payment order transmitted directly by thepaying Customer, or indirectly by or through the beneficiary,is received by the Bank.
2. If the Bank is not open at the time of receipt to execute thepayment operation, the payment order shall be consideredas received on the next working day.
3. Unless otherwise agreed with the Bank, payment ordersreceived after 3:00 p.m. on a working day shall beconsidered as being received on the next working day.
4. The Customer and the Bank may agree that the order hasbeen received:a) On a certain date;b) After a certain period has elapsed; orc) On the date on which the Customer places funds at the
disposal of the Bank.5. If the date agreed under 4 above is not a working day for the
Bank, the payment order shall be considered received on thenext working day.
Clause 8: Payment order execution times
1. Notwithstanding the provisions of the followingsubparagraph, after a payment order has been receivedpursuant to the preceding Clause, the amount of theoperation shall be credited to the account of the beneficiary’spayment services provider before the end of the firstsubsequent working day if the operation is executed inEuros, or before the end of the third working day if it is aninterbank operation with a payment services provider locatedin one of the Member States of the European Union or theEuropean Economic Area, and conducted in one of thecurrencies set out in Clause 2 (3) of this Chapter.
2. In intra-community payments involving currency conversion,the deadline set out in the preceding paragraph may beextended to four working days from the time the order isreceived.
3. The deadlines stated in nr. 1 of this Clause may be extendedfor one more working day in the case of payment operationsissued on paper.
4. If the time of receipt is not a working day for the beneficiary’spayment services provider, the latter’s account shall becredited by the end of the next working day.
5. In intrabank transfers, the amount of the payment operationis credited to the beneficiary’s account on the same day, thevalue date and the availability date being the date of thecredit.
6. The value date attributed to the credit to the Customer’spayment account must be, at the most, the working day onwhich the payment operation amount is credited to the Bankaccount.
7. The payment operation amount shall be available to theCustomer immediately after being credited to the paymentaccount of the Bank.
8. In relation to cash deposits made in the currency of theCustomer’s account, the amount shall be immediatelyavailable from the time the money is received, with thecorresponding value date.
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. Jo
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, 28
, O
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: w
ww
.mill
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p.pt
. C
redi
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stitu
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regi
ster
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Por
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33.
Fin
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med
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reg
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on t
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ortu
gues
e S
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Mar
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. 10
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7. A
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9. It is an assumption of the value date and effective availabilitydate of the funds in subparagraphs 6 to 8 above that it ispossible for the Bank to confirm in advance the credit to thepayment account, carrying out a currency conversion, orchecking the notes and coins submitted for deposit forpayment operations that require these procedures.
Clause 9: Charges, interest rates and exchange rates
1. The charges, interest rates and exchange rates applicableto the payment operations covered by this Chapter, or in thecase of reference interest rates or exchange rates beingused, the method for calculating the effective interest rate,as well as the relevant date and the index or the basis fordetermining this reference interest rate or exchange rate, areshown in the Attachment to these General Conditions.
2. In relation to payment services specially contracted betweenthe Parties, the charges, interest rates and exchange ratesapplicable shall be shown in the respective frameworkcontracts.
3. The provisions of Clause (3 and 4) of this Chapter shall applyto amendments to interest rates or exchange rates.
Clause 10: Provision of information on payment servicesor operations
1. The Bank may provide information on the payment servicesor operations to the Customer, including that shown in thisChapter, by any means of communication appropriate to thebanking relationship, including those set out in Chapter D(General Conditions of Use of Remote CommunicationsChannels).
2. After the debit or credit of a payment operation to theCustomer’s account, the Bank undertakes to provide them,without unjustified delay, with at least the followinginformation: a) A reference that allows the Customer to identify each
payment operation and, if applicable, information relatingto the beneficiary or payer;
b) The amount of the payment operation in the currency inwhich it was debited or credited to the Customer’saccount;
c) The amount of any charges for the payment operationand, if applicable, their respective description, or theinterest that the Customer must pay;
d) If applicable, the exchange rate applied by the Bank tothe payment operation, as well as the amount of thepayment operation after the currency conversion; and
e) The value date of the debit or credit.3. To comply with the provisions of 2 above and notwithstanding
the issue of transaction slips, the Bank shall provide theCustomer with account statements pursuant to Clauses 6and 7 of Chapter A.
Clause 11: Unauthorized or incorrectly executed operations
1. After becoming aware of an unauthorized or incorrectlyexecuted payment operation likely to give rise to a complaint,the Customer must notify the Bank without unjustified delayand within a period of not more than 13 months from the dateof debit. At the end of this period, the amounts recorded shallbe taken as accurate.
2. Should the Customer denies having authorized a paymentoperation executed, or allege that the operation was notproperly executed, the Bank shall be bound to provideevidence that the payment operation was authenticated, dulyrecorded and accounted for and that it was not affected bytechnical failure or any other deficiency.
3. Where an unauthorized or incorrectly executed direct debit isinvolved, the Bank must show the Customer theauthorization for debiting the account, requesting it from thecreditor or the creditor’s bank if it is not in its possession.
Clause 12: Liability for unauthorized operations
The investigations set out in the preceding Clause having beencarried out, if it is concluded that the Bank is liable for the lossesarising from the unauthorized operations, the latter shall ensurethe immediate refund of the amount of the unauthorized paymentoperation and, if applicable, shall return the account to the statein which it would have been if the operation had not beenexecuted.
Clause 13: Liability for the non-execution or incorrectexecution of payment orders
1. The Bank shall be liable to the Customer for the non-execution or incorrect execution of a payment order issuedby the latter under the general terms of the law,notwithstanding the provisions of Clause 11 (2) and of Clause12.
2. If the Bank can prove to the Customer and, if applicable, tothe beneficiary’s payment services provider that the latterreceived the payment operation amount pursuant Clause 7,the liability for the correct execution of the payment operationto the beneficiary shall lie with the payment services providerof the latter.
3. Should the liability lie with the Bank under the terms ofsubparagraph 1 above, it should refund to the Customer theamount of the payment not executed or incorrectly executedwithout unjustified delay and, if applicable, restore theaccount from which the payment was debited to the positionin which it would have been if the incorrect paymentoperation had not occurred.
4. Should the liability lie with the Bank as the beneficiary’spayment services provider, the Bank must, immediately,credit the corresponding amount to the beneficiary’s paymentaccount or place the amount of the payment operation at thedisposal of the beneficiary.
5. In the case of a payment operation not executed orincorrectly executed wherein the payment order was issuedby the Customer, the Bank must, regardless of the liabilityincurred and if requested, immediately take steps to tracethe payment operation and notify the Customer of the resultsobtained.
6. In addition to the liability set out in the preceding numbers,the Bank shall be liable to the Customer for any charges andfor any interest to which the Customer is subject as aconsequence of the non-execution or incorrect execution ofthe payment operation.
Clause 14: Exclusion of Liability
1. If the unique identifier provided by the Customer is incorrect,the Bank shall not be liable pursuant to the preceding Clausefor the non-execution or for the incorrect execution of thepayment operation.
2. Nevertheless, the Bank must make reasonable efforts torecover the funds involved in the payment operation.
3. The Bank may charge the Customer fees, whether bynotification of the non-execution of the payment operation orfor the recovery of funds in the case of incorrect execution.
4. The Bank’s liability shall not apply in cases of abnormal andunforeseeable circumstances outside its control, if therespective consequences cannot be avoided despite allefforts made, or if the Bank is bound by other legalobligations, namely those related to the prevention of moneylaundering and terrorism financing.
Clause 15: Refund of operations initiated by the beneficiary
1. The Customer is entitled to a refund from the Bank for anauthorized payment operation initiated by or through thebeneficiary, provided that it has already been executed,should the following conditions be satisfied:a) The authorization does not specify the exact amount of
the payment operation at the time at which theauthorization was given; and
b) The amount of the payment operation exceeds theamount that the Customer may reasonably expect basedon his/her prior expenses profile and the specificcircumstances of the case.
2. At the Bank’s request, the Customer shall provide the factualelements relating to the specific conditions stated in thepreceding number 1.
3. The refund mentioned in 1 above corresponds to the fullamount of the payment operation executed.
4. For the purposes of 1 (b), the Customer may not usearguments related to the exchange rate if the referenceexchange rate agreed with the Bank has been used.
5. The Customer shall not be entitled to the refund set out insubparagraph 1 above should it has directly notified the Bankof its consent for the execution of the payment operation and,if applicable, the information on the future payment operation
Mod. 10900436
07-1
6 M
A
BA
NC
O C
OM
ER
CIA
L P
OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e V
ida,
S.A
., O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os,
S.A
., M
édis
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e S
aúde
, S.A
. and
Pen
sões
gere
- S
ocie
dade
Ges
tora
de
Fun
dos
de P
ensõ
es, S
.A. I
nfor
mat
ion
and
othe
r de
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of t
he r
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trat
ion
avai
labl
e at
ww
w.is
p.pt
.
Página 8 de 30
has been provided to the Customer or placed at his/her/itsdisposal by the Bank or by the beneficiary in the manneragreed, at least four weeks in advance.
6. The Customer is entitled to submit the refund requestmentioned in 1 above within a period of eight weeks from thedate on which the funds have been debited.
7. Within a period of ten working days from the receipt of arefund request, the Bank shall refund the full amount of thepayment operation or present a justification for refusing therefund, indicating the bodies to which the Customer mayrefer the issue should it not accept the justification provided.
C - ACCOUNT REGISTRATION AND DEPOSIT GENERALCONDITIONS FOR FINANCIAL INSTRUMENTS ANDFINANCIAL INTERMEDIATION
Clause 1: General regulations
1. Associated to each demand deposit account there may beone or more accounts where credit and debit financialinstruments are recorded, hereinafter designated asFinancial Instruments Accounts.
2. Amounts corresponding to fees, taxes, postage and othercharges, as well as all financial debits and credits arisingfrom financial instrument operations are entered into thedemand deposit account associated to the financialinstruments account concerned.
3. Acceptance by the account holders of these GeneralContractual Clauses in conjunction with the SpecialConditions, including the Attachments which form an integralpart thereof, and with each demand deposit account openingagreement, constitutes the agreement for the provision offinancial intermediation services and activities, whichincludes, specifically, the registration or filing of financialinstruments, namely securities, to which the orders and otherfinancial instrument documents are subject, in accordancewith current laws and regulations.
4. It is hereby expressly agreed that Chapter C shall not applyto the provision of financial intermediation services to clientsresiding in the United States of America and in territoriesunder their jurisdiction, Canada, Australia or Japan, as theBank cannot allow them to invest in securities and in financialinstruments or equivalent, under the terms effective in theaforementioned jurisdictions.
Clause 2: Definitions
1. Financial instruments or equivalents are:a) Securities, including those of a monetary nature;b) Money market instruments;c) Derivatives to transfer credit risk;d) Differential contracts;e) Options, futures, swaps, forward contracts on interest
rates and any other derivative contracts relating tosecurities, currencies, interest rates or profitability rates,or for other derivatives, financial indexes and financialindicators, with physical or financial settlement;
f) Options, futures, swaps, forward contracts on interestrates and any other derivative contracts with financialsettlement, even if by the choice of one of the parties,relating to commodities, climatic variables, freight rates,emission licenses, rates of inflation or any other officialeconomic statistics;
g) Options, futures, swaps and any other derivativecontracts relating to commodities, with physicalsettlement, provided that:(i) They are bought and sold in regulated markets or a
multilateral negotiation system;(ii) They are not meant for commercial use, they have
characteristics analogous with other derivativefinancial instruments;
h) Insurance agreements linked to an investment fund.2. Securities are:
a) Shares;b) Bonds;c) Participating securities;d) Units in Collective Investment Schemes;e) Covered warrants; f) The prominent rights of the securities mentioned in
subparagraphs a) to d), provided that the prominence
covers the entire issue or series and is provided in theact of issue;
g) Other documents constituting homogeneous legalsituations, provided that they can be transmitted in themarket.
Clause 3: Financial intermediation activities
The financial intermediation activities foreseen hereunder are:a) The services and investment activities in financial instru-
ments, which include:(i) the receipt and transmission of orders on behalf of others;(ii) the execution of orders on behalf of others;(iii) trading on own account;(iv) investment advising services; (v) portfolio management on behalf of others, whenever at
the request of the Customer the Bank agrees to providethis service, which shall be subject to specific rulesestablished in a separate agreement.
b) Ancillary services and investment activities, including:(i) registration and deposit of financial instruments, as well
as services relating to their custody, on the financialinstruments account;
(ii) the granting of credit for execution of financial instrumenttransactions, which will be preceded by analysis anddecision of the Bank, on a case-by-case basis, and thesigning of a separate agreement; (iii) the preparation ofinvestment research and financial analysis or other formsof general investigation relating to financial instrumenttransactions; (iv) the financial intermediation services andactivities listed in items (i) and (ii) of a) above whererelated to any of the financial instruments identified abovein Clause 2 c) and g), in which case the orders should bepreceded by the conclusion of a written agreement, withthe exception of insurance agreements linked toinvestment funds.
Clause 4: Identity of holders
1. Except as otherwise provided in number 2 of this Clause, theBank shall only agree to open Financial Instrument accountswith the same ownership as the associated demand depositaccount, and only the order of the co-holders may bedifferent, specifically for purposes of the following clause.Should one of the co-holders wish to purchase financialinstruments only for himself/herself, he/she must do sobased on the demand deposit account of which he/she is thesole holder.
2. The Bank may agree to register or deposit financialinstruments, which by law may not have more than oneholder of an individual financial instruments accountassociated with a demand deposit account with moreholders. In this case, however, co-holders of this accountwho are not holders of such values may give establishedorders as if they were attorneys.
3. The Bank does not accept the indication of unequal sharesin financial instrument accounts.
Clause 5: Common representative: primary account holder
1. In financial instrument accounts with more than one holder,the holder that exercises the functions that the law providesfor the common representative shall be the primary accountholder.
2. Different financial instrument accounts associated with thesame demand deposit account may have different jointholders, whereby the common representative on oneaccount is not the same as for the other account.
3. The agreement of all joint holders is required for subsequentamendments to joint ownership, regardless of the type oftransaction arrangement established.
Clause 6: Purchase of financial instruments
1. If there are several co-holders of a demand deposit account,those who have powers to make transactions may order theprovision of any services contracted under this contract, evenif it is always only by reference to the assessment ofknowledge and experience made by the Bank in accordancewith the terms stated below under the mandatory legal
Mod. 10900436
07-1
6 M
A
BA
NC
O C
OM
ER
CIA
L P
OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e V
ida,
S.A
., O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os,
S.A
., M
édis
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e S
aúde
, S.A
. and
Pen
sões
gere
- S
ocie
dade
Ges
tora
de
Fun
dos
de P
ensõ
es, S
.A. I
nfor
mat
ion
and
othe
r de
tails
of t
he r
egis
trat
ion
avai
labl
e at
ww
w.is
p.pt
.
Página 9 de 30
information contained in this agreement, the financialinstruments purchased being for the same holders.
2. When no financial instrument account associated with thedemand deposit account has yet been opened, the Bankshall proceed with its opening as a result of investmentinstructions provided for financial instruments, reproducingthe account holders of the demand deposit account, unlessotherwise requested.
Clause 7: Entitlement to dispose of or encumber
Orders for the sale of financial instruments and the instrumentsof encumbrance of the same financial instruments are subjectto the conditions established for the associated demand depositaccount.
Clause 8: Death of a co-holder
If any co-holder dies, his/her corresponding share in eachcategory of financial instruments shall be frozen, with roundingup.
Clause 9: Renunciation of ownership by one of the co-holders
For the renunciation to the account ownership to be effectivewhen there are one or more financial Instrument accounts, aslong as there are no obstacles deriving from the characteristicsof the financial instruments or from their encumbrances, it isnecessary that one of the following alternatives be met: a) all the financial instrument accounts associated with the
same current account must be settled at the time of theexclusion from ownership;
b) The holder with powers to do so must issue an order totransfer each category's financial instruments in theproportion of the stake held by the co-holder that wishes torenounce to it to another financial instruments accountowned by the co-holder, in which case the transfer and theexclusion from ownership must be simultaneous;
c) The renouncing co-holder must issue an express statementsaying that his/her/its stake in the financial instruments in theaccount is to be transferred in an over-the-counter operation,to those who remain co-holders, which will subsequentlyauthorize the Bank to debit the amount of transfer rates andfees eventually owed from the current account withprovisions for that purpose.
Clause 10: Inclusion of an additional co-holder
In accounts held by individuals, when all the prior holders andthe person wishing to be a holder request the addition of a co-holder to a current account with one or more associated financialinstrument accounts, the Bank's acceptance is subject to,besides the regulations in force and those eventually set forthby the Bank, one of the following conditions:a) all the financial instrument accounts associated with the
same current account must be settled at the time of theinclusion of ownership;
b) The former holders must issue an express statement sayingthat the respective stake in the financial instruments in theaccount is to be transferred in an over-the-counter operation,to the one acquiring co-ownership, which will subsequentlyauthorize the Bank to debit the amount of transfer rates andfees eventually owed from the current account withprovisions for that purpose.
Clause 11: Orders for financial instrument operations
1. In addition to those with a written signature, Customers maybe provided with other means for transmitting orders andinstructions relating to financial instruments, including bytelephone and by computer, as provided in Chapter D of thisinstrument.
2. Under the legally established provisions on the matter theBank will keep a record of both the audio and IT data on theorders given.
3. The orders to execute transactions in financial instrumentsmay be refused according to the applicable law, in whichcase the Bank will immediately inform the issuer of the order,using any communication mean, namely e-mail or cell
phone, without prejudice to presenting evidence of suchrefusal in writing as soon as possible.
4. Under the terms of the law and of the regulations in effect,the Bank shall record the orders for evidence (IT, magnetictapes or archive of the original orders in writing).
5. The Bank shall keep an updated chronological list of alltransactions carried out, registering daily and in sequence, alldebit and credit entries of financial instruments and cashinvolving the Customer.
Clause 12: Duty of care
1. The Bank shall, directly or using the services of third parties,be diligent in the execution of the orders that are not refusedwithin the constraints set by the features of the transactionsor by their computer registry.
2. While executing orders and instructions, the Bank is requiredto uphold the Customer's legal interests above its own orthose of related entities, as well as to follow the principle ofasset segregation. If the Customer requires any additionalinformation on the conflict of interests policy in effect in theBank, he/she/it may go to any of its Branches or to thewebsite www.millenniumbcp.pt.
Clause 13: Blocked balance
The execution of any purchase or subscription order may besubject to there being sufficient funds in the current account andthe amount required will be blocked until the completion of theoperation ordered.
Clause 14: Attached rights
1. The Bank shall attempt to render information on the officiallydisclosed rights inherent to the financial instrumentsregistered or deposited and is obliged to certify the legitimacyof the vote right.
2. Exercising inherent rights depends on the Customer'sexpress orders or instructions, except when it clearly doesnot involve considerations on opportunity, such as thecollection of dividends, interests or other yields, or does notincur in external costs to the Bank and corresponds to avaluation clearly above the amount of fees owed to the bankfor such undertaking.
3. Yet, the Bank's possibility of exercising inherent rights isconditioned by there being enough provisions in the currentaccount associated for the debit of the due fees.
Clause 15: Settlement of operations
The transactions will be settled in the conditions and deadlinesapplicable to the market were the transactions are being carriedout.
Clause 16: Outsourcing
1. The Bank may use other people or entities (outsourcers),with the required capacity, charging them with the total orpartial execution of tasks that are comprised by the serviceengaged by the Customer, although it continues to beresponsible before its Customers by the compliance with thelaw and with the contract applicable to the provision of theservices stated herein.
2. While rendering the services listed in this contract, the Bankshall observe the highest standards of competence anddiligence possible in its actions, especially:- To abide by and force the outsourcers to abide by the law
and regulations in force in each market, in Portugal and/orabroad, namely the cut-off times defined to settletransactions in each of those markets.
3. The Bank will only deposit or register any financial instrumentheld by the Customer in an entity of a State that does notregulate the registry and deposit of financial instruments ifthe Customer requests the Bank in writing to do so and if, inaddition, the features of the financial instruments or of theinvestment services associated to such instruments sorequire.
4. Any of the Customer's financial instruments deposited orregistered in an outsourcer shall mandatorily be listedseparately from the financial instruments in the Bank, usingseparate accounts (individual or joint) in the outsourcer.
Mod. 10900436
07-1
6 M
A
BA
NC
O C
OM
ER
CIA
L P
OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e V
ida,
S.A
., O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os,
S.A
., M
édis
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e S
aúde
, S.A
. and
Pen
sões
gere
- S
ocie
dade
Ges
tora
de
Fun
dos
de P
ensõ
es, S
.A. I
nfor
mat
ion
and
othe
r de
tails
of t
he r
egis
trat
ion
avai
labl
e at
ww
w.is
p.pt
.
Página 10 de 30
5. The Bank shall inform the Customer that the accounts withthe Customer's financial instruments may be subject toforeign laws that may hurt the Customer's rights.
6. The Bank will ensure that the outsourcers:a) Have the ability, capacity, and any authorisation required
by law to perform the outsourced functions, services oractivities reliably and professionally;
b) Carry out the outsourced services effectively;c) Have available all the information required to abide by
the outsourcing contract;d) Properly supervise the carrying out of the outsourced
functions, and adequately manage the risks associatedwith the outsourcing;
e) Inform the Bank of all facts that may influence thecarrying out of the activities or subcontracted functionseffectively and in compliance with applicable laws andregulatory requirements;
f) Cooperate with the supervision authorities in connectionwith the outsourced activities;
g) Give the Bank, its auditors and the relevant supervisionauthorities effective access to data related to theoutsourced activities, as well as to its business premises;
h) Protect, within the applicable legal framework, anyconfidential information relating to the outsourcingfinancial intermediary and its Customers.
Clause 17: Service costs
1. Each service offered under this agreement, as well as therespective contracting, is subject to the taxes and fees legallyapplicable and, in addition, to the fees, costs, expenses andcharges established in the price list provided for services,which shall be submitted to the Customer on the date therespective account is opened.
2. The Bank will inform, with reasonable prior notice for eachsituation, of the changes to the price list in force, by meansof a circular, a message in the account statement or by anyother appropriate mean, pursuant to which the Customermay terminate this agreement due to such changes.
3. Additionally the Bank informs that the duly updated price listapplicable to financial instrument operations is alwaysavailable for consultation at any branch of the Bank or atwww.millenniumbcp.pt.
Clause 18: Duty of information
1. The Bank shall render to the holders the information on theirFinancial Instruments accounts and shall issue accountstatements, abiding by the regularity limits set forth in the lawand in the regulations in force.
2. Information on the prices in force at any time is provided bothat Banking outlets, by telephone or by the electronicchannels available for instructions relating to financialinstruments, pursuant to Chapter D of this instrument.
3. The Bank shall also render all the additional information,besides the information specified in Attachment III to theGeneral Terms and Conditions, requested by the Customer,regarding the different type of financial instruments, namelyin terms of market risks and costs involved, as well as oninterests of the Bank or of entities related to it, guaranteefunds and other protection means.
4. The decision to invest in financial instruments is, in itself, anoption that implies risk for the one making it, and the Bank,as financial intermediary, cannot be held liable for thechoices made by each investor, unless the Bank causesdamages or commits a serious fault.
Clause 19: Legal information
Pursuant to the legal obligations, the Bank hereby informs theCustomer of the following:- The Bank is a Credit institution, whose activities are
supervised by Banco de Portugal, by CMVM - Comissão deMercado de Valores Mobiliários (Portuguese stock marketregulator) and by Instituto de Seguros de Portugal(Portuguese insurance institute);
- Banco Comercial Português S.A. is authorized to provideinvestment services as financial intermediary registered inCMVM under nr. 105, on 29 July 1991;
- The Bank is part of the Investor Compensation Schemeregulated by Decree-Law nr. 222/99, of 22 June, thatguarantees cover for loans incorporated into the liabilities ofa participating entity as a consequence of the financialincapacity of the entity, in accordance with the applicablelegal and contractual conditions, to reimburse or refundinvestors for the monies owed to them or belonging to themand which are affected, in particular, by investmentoperations, or which are held, administered or managed ontheir behalf in the context of investment operations;
- According to the law, the Bank hereby informs the Customerthat all written communication addressed to the bank may besent to the Branch where the Current Account is located. Ifthe Customer intends to contact the Bank by telephone,he/she/it should use the telephone number(s) indicatedpreviously, which will always be available for consultation atwww.millenniumbcp.pt. The Customer may furthermorecontact the Bank by email by accessingwww.millenniumbcp.pt;
- In accordance with the legislation in force, the Customer isentitled to request different treatment regarding his/her/itsclassification, which should be addressed to the Bank inwriting and will depend on the prior assessment of theCustomer's compliance with the legal requirements thatenable the said different treatment, evaluating theCustomer's request using the criteria set forth in the law;
- The request made must specify the services, financialinstruments and transactions for which such treatment isintended;
- If the Customer's request if approved, the Bank will informthe Customer of the approval and of the consequences ofaccepting such request, pursuant to the applicable legalrulings;
- Even if the Bank accepts the classification requested by theCustomer, different from the one awarded by the Bank, it willonly be effective if and when the Customer gives the Bank asigned written statement, saying that he/she/it is aware ofthe consequences of this option;
- The Customer may communicate with the Bank in thefollowing languages: Portuguese and English and any otherlanguage previously agreed in writing between the Bank andthe Customer, using the following means: in person, at anyBank branch, by telephone, via the numbers indicated on theBank’s website at www.millenniumbcp.pt and by email byaccessing www.millenniumbcp.pt;
- The Bank has available a service to receive and handle anyclaims that the Customers may wish to present; For thatpurpose, the claims are to be sent to: The Customer CareCentre via the number 707502424 and/or by e-mail to theaddress www.millenniumbcp.pt and/or in writing, thecomplaint being addressed to Avenida Doutor Mario Soares(Tagus Park Edf 9 Porto Salvo 2744-005 PORTO SALVO), orat any Bank branch;
- The Bank is a financial intermediary subject to CMVM'ssupervision and as such its Customers may present anyclaims regarding its actions directly to the supervisionauthority using the website www.cmvm.pt;
- While executing orders received from its Customers, theBank shall scrupulously comply with its guidelines forexecuting orders, in Attachment I to the General Terms andConditions;
- The investment in securities and/or financial instruments orderivatives incurs risk, since the market value of suchinvestment may vary, which may imply a loss for theCustomer, eventually higher than the investment made. TheBank informs the Customers of such risks and summarizesthe risks in the Attachment III to these General Terms andConditions;
- The Bank will request the Customer to purvey all theinformation regarding his/her/its knowledge and experiencein investment regarding the type of instruments and/orproduct or the service in question.(a) If, based on the information received, the Bank considers
that the operation under appraisal is not adequate for theawarded Customer profile, the Bank will expressly warnthe Customer, using any of the means provided in art. 4of the Securities Code, even if the communication to theCustomer is made using another form or another meansof identification that guarantees equivalent levels ofintelligibility, durability and authenticity, such as e-mailand telephone, recording the call;
Mod. 10900436
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OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
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at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
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for
inte
rmed
iatio
n of
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and
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-life
insu
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cide
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tugu
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S.A
., O
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Por
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S.A
., M
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Ges
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.A. I
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Página 11 de 30
(b) If the information requested is not purveyed, of which theBank will inform the Customer, under the terms defined ina) above, that it is not possible to determine theadequacy to the profile of the operation and/or product inquestion;
Single §: Both in a) and b), the operation will only be carried outor the service will only be rendered if the Customerissues specific instruction to the Bank stating thathe/she/it has the experience and knowledgenecessary to understand the risks involved, and thatthe assets allow him/her/it to bear all financial risksconnected with the investment and that the operation/ product / service is consistent with his/her/itsinvestment objectives;
- Regarding accounts held by individuals, all co-holders knowand entirely accept that the Bank will assess the knowledgeand experience in financial instruments of the jointrepresentative, and the remaining co-holders will only beallowed to execute, in that account, the transactions deemedadequate by the Bank for the profile of the jointrepresentative of the financial instruments account;
- Regarding accounts held by legal persons, the Bank willrequest the Customer to purvey all the information regardingits knowledge and experience in investment regarding thetype of investment and/or product or the service in question.The Bank shall inform the Customer that the informationrequested, which will be the grounds for the adequacyquestionnaires made by the Bank, will be reported andassessed as follows: (i) the assets of the Customer LegalPerson and (ii) the knowledge and experience in financialinstruments of the legal representative of the Customer LegalPerson that at is negotiating with the Bank at the moment. Ifthe Customer Legal Person is bound by the signature ofmore than one legal representative, in which case thetransactions must be executed by the number of peoplerequired to bind the Legal Person, the Bank will apply theregime of the legal representative who receives a higher levelof protection;
- Under the terms of the applicable legal rulings, the Bankinforms the Customer that, while providing the reception,transmission and execution of orders, the Bank may not beable to determine if the transaction is adequate to theCustomer's profile, and will simply obey the orders theCustomer issues, being entirely responsible for them, as longas the service regards shares listed in a regulated market,money market instruments, bonds or other forms ofsecuritized debt, except for bonds or securitized debt thatinclude derivatives, units in other credit institutions insecurities and all other financial instruments deemed non-complex by law;
- The Bank informs the Customer that, single-handedly orthrough companies of Group Banco Comercial Português, itissues analysis reports and opinions on securities not meantfor a specific Customer and therefore these are not anautonomous financial service, namely asset management orinvestment advice;
- Such reports and opinions may be generally disclosed in thewebsite www.millenniumbcp.pt or via other communicationmeans, or directly by the Bank's employees, which in thiscase does not constitute personal recommendation;
- Under such terms the Bank informs the Customer that theinformation in the reports and opinions issued:a) was gathered based on information available to the public
and on sources deemed to be reliable;b) does not constitute an offer to buy or sell securities;
- Therefore, the Bank is not accountable for the damagescaused by the inaccuracy of the information rendered in theaforementioned documents or by their undue use;
- Complying with the legal requirements, the Bank sends thefollowing documents to the Client, in the form of an Annexhereto attached documents that are considered as anintegrant part of this Contract for all due legal purposes:a) Attachment I of this Contract, listing the procedures
adopted by the Bank to handle orders given by theCustomers, as well as the guidelines for executing ordersfollowed by the Bank;
b) Attachment II on investing advice regarding securitiesand other financial instruments;
c) Attachment III listing the information on the risks ofinvesting in securities and/or financial instruments; If the
Customer requires any additional information on the risksof investing in financial instruments, he/she should go toany of Bank's Branches, to the websitewww.millenniumbcp.pt, or use the phone numbers listedin the same website www.millenniumbcp.pt;
Clause 20: Declarations and complementary information
The Customer hereby consents to the Bank providing allinformation required under legal and statutory terms on durablemedia via the email address previously indicated to the Bank.- The amendments proposed by the Bank shall come into
force after at least 20 days written notice is given toCustomers, and, should the Customer not agree with theproposed amendments, he/she/it may state in writing theintention to terminate the contractual relationship within amaximum of 20 days of being informed by the Bank of theamendments.Should the agreement not be terminated, it shall bepresumed that the Customer accepts these GeneralConditions of Registration and Deposit of FinancialIntermediation Financial Instruments and all its Attachments,in particular the order execution policy that the Bank shallfollow in providing these services and that the Customeraccepts when agreeing with the Bank any services includedin this contract, which shall replace those currently in force.
Clause 21: Other rights and duties
In addition to that stated in this clause, the parties to theFinancial Instruments and Financial Intermediation agreementenjoy the rights and are assigned the duties resulting from thestandards in force, in particular those of the Securities Code andthe regulations and instructions of the CMVM.
Clause 22: Termination
1. Either party may terminate this agreement through not lessthan 30 days notice by registered letter with confirmation ofreceipt or legally equivalent means. If the termination is theinitiative of the Customer and there are multiple holders, thetermination should be undersigned by all of them,irrespective of the type of transaction arrangement agreedon the account;
2. If, when the termination takes effect, there are financialinstruments on the account, the Bank may proceed with theiralienation 15 days after notifying the intention to sell to thecommon holder or representative of the co-holders, via anew registered letter. The resulting balance shall be sent bybank cheque to the primary account holder. While the sale isnot possible, the Bank shall maintain custody of the financialinstruments, but shall relinquish any attached rights;
3. The sale shall be made in order to provide equitable andtransparent treatment, under the best conditions that themarket provides at the time and giving prevalence to theCustomer’s interests as against the interests of the Bank orrelated entities.
Clause 23: Amendments
Amendments to these general contractual terms, to the specificconditions and to the Attachments which form an integral part ofthese shall be notified to account holders of financial instrumentsby circular letter, a message on the account statement or byother appropriate means, with two months' notice of its entry intoforce, the recipients having the option to terminate theagreement on this basis.
Attachment I - Processing of customer orders and orderexecution policy
I - Processing of customer orders
1. Orders transmitted by the Customer are valid for the periodthat the same indicates, but may not, however, exceed aperiod of 30 days from the day after the date of receipt of theorder by the Bank.
2. If the Customer does not indicate any period for the ordertransmitted to the Bank, it shall be valid until the end of thefirst subsequent market session for which it is intended.
Mod. 10900436
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OR
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GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
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- C
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Por
tugu
esa
de S
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S.A
., O
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Por
tugu
esa
de S
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os,
S.A
., M
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- C
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Por
tugu
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aúde
, S.A
. and
Pen
sões
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Ges
tora
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Fun
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.A. I
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Página 12 de 30
3. The Bank will execute Customer orders under the conditionsand at the time the same states or, in the absence of anyindication, the best possible market conditions.
4. The execution of orders received from Customers shallrespect the priority of their receipt.
5. Whenever the Bank cannot execute an order, in accordancewith the criteria defined in its execution policy stated above,it shall transmit it to another financial intermediary that canexecute it, pursuant to articles 328 of the Securities Code,the Bank undertaking to arrange for an order duly transmittedby the Customer to be executed as soon as possible, notadmitting liability, however, for any discrepancies in theamount that the Customer would be prepared to spend orreceive with the order transmitted and the amount actuallyspent or received as a result of the time lapse betweentransmission of the Customer’s order to the Bank and thetiming of its execution.
6. Notwithstanding full compliance with art. 330 of theSecurities Code, the Bank shall not be liable for damagesresulting from delays, losses, non-receipt, truncated,damaged or defective receipt, partial receipt, receipt induplicate, deviation and/or delivery of information or othermaterials submitted by the Customer to the wrong place orperson, even if by any means or systems of transmission orcommunication accepted by the parties to this agreement,unless such situations are due to fault or negligence of theBank.
7. The Bank shall only be answerable for failure, defectiveperformance or delay in the execution of orders and/orinstructions when this situation is due to its fault ornegligence.
8. On the working day following that on which the operationordered by the Customer is carried out or, should the orderbe executed by a third party, on the first working day afterreceipt by the Bank of confirmation from the third party thatthe operation has been carried out, the Bank shall send orprovide the Customer with a notice of execution containing allthe information legally required.
9. For the proper execution of this agreement, the Bank shallguide its activities in order the best protect the Customer’sinterests in the efficiency of the market, governing theexercise of its activity by high levels of professional aptitude.
10. Pursuant to the Securities Code, the Customer expresslyauthorises the Bank to:a) partially execute orders;b) act as the Customer’s counterparty (either in its own
name, or in representation of third parties);c) execute the orders transmitted to it outside regulated
markets or multilateral negotiation systems;d) aggregate, within a single order, orders from various
Customers or for operations carried out at its own behest,provided that this aggregation is not, overall, prejudicial toany Customer and provided that this is not expresslyopposed by the Customer in writing.
Single §: In the event of there being an aggregation oftransactions at its own behest with one or more of theCustomer’s orders and the aggregated order ispartially executed, assigning the correspondingoperations to the Customer shall be given priority,unless the Bank demonstrates good grounds thatwithout this combination it could not have executedthe order, or it would not have been able to execute iton such advantageous terms, in which case theoperation shall be assigned proportionally.
11. The Bank neither takes responsibility, nor does it guaranteethe authenticity, validity, regularity or the absence of anydefects or legal situations that encumber any securities notincorporated into a registered market or incorporated into aforeign market received by the Bank for deposit into thefinancial instrument account or record of financialinstruments, except in the case of negligence or fault of theBank. However, if the Bank detects any falsification orirregularity, it shall immediately inform the Customer.
12. The registration and filing of financial instruments in theFinancial Instruments account, as well as the registration oftransfer, encumbrances or charges, or any events relatingthereto, depends on the prior presentation to the Bank of adocument confirming the existence of the law/fact to beregistered, except in situations where this is not legallyenforceable.
13. Before executing each operation, the Bank, at theCustomer’s behest, shall block the securities and/or financialinstruments to be alienated, and the Customer should makeavailable the amount necessary for settling the operation, asapplicable.
14. Should the demand deposit account associated with theFinancial Instruments account not have sufficient funds forexecuting the operations the Customer hereby conferspowers on the Bank to debit the amount necessary forexecuting the order, being the total value or the partial valuenecessary to make up the amount necessary to execute thisorder, in any demand deposit account with the Bank of whichthe Customer is holder or joint tenant.
15. In the event of insufficient funds in any demand depositaccount with the Bank of which the Customer is holder orjoint tenant and for payment of the charges provided herein,the Bank is expressly authorised, pursuant to paragraph 3 ofart. 306 of the Securities Code to alienate the financialinstruments belonging to the Customer necessary to pay theoutstanding amounts, respecting the criterion “first in firstout”.
II - Short Version of the Policy for Executing Orders ofBanco Comercial Português, S.A.
1. Policy for Executing Orders - Summary
In its policy for executing orders, Banco Comercial Português, S.A.,hereinafter referred to as "the Bank", adopts all reasonable measures to achieve the best execution possible according to its analysis, bearing in mind the client's instructions, seeking to identify the trading structures that enable to, repeatedly, achieve such result. Notwithstanding, when the investment orders come with specific instructions, the Bank executes or transmits the order in accordance with the instructions effectively received.These guidelines for the execution of orders only comprise the reception and transmission of orders on Financial Instruments, mentioned in Section C of Annex I to Directive 2004/39/EC, of the European Parliament and of the Council, of 21 April 2004 and apply to all Clients considered non-professional and professional, not applying to Clients considered Eligible Counterparty.The criteria for the execution of orders under the best execution rule is not applicable in situations wherein the Bank is acting on its own account. Currently, the Bank is acting on its own account concerning the following financial instruments:
- Bonds- Obrigações de Caixa- Commercial Paper- Other debt securities - Warrants- Certificates
2. Execution factors
The Bank takes into account price, total costs of the transaction, speed, likelihood of execution and settlement, size and nature of the order while choosing its trading platform for executing orders under the best conditions on behalf of its clients. These factors are not ranked and the Bank shall determine the relative importance of each factor, based on the features of the orders and of the Customers.
3. Execution Channels
3.1 Execution of customer's orders Orders issued by clients, regardless of the transmission channel used (internet, networks or call-centres), are processed as follows:
i) In orders issued for markets of which BCP is not amember, the Bank sends the orders to anotherintermediary, which will be obliged to pursue allreasonable measures to achieve the best result for theClient.
ii) The orders given to the Bank shall be sent to the relevantmarket. The intermediary will consider as relevant marketthe primary market where the security was listed.
If the intermediary that receives the Bank's orders does not use the relevant organized market, it shall guarantee the same execution price or better than the one applied in that market at the time of the order's execution.
Mod. 10900436
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OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
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tugu
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S.A
., O
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S.A
., M
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aúde
, S.A
. and
Pen
sões
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Ges
tora
de
Fun
dos
de P
ensõ
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.A. I
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.
Página 13 de 30
All orders received to be executed regarding investment funds or equivalents shall be placed directly or indirectly with the respective Managing Companies.While executing orders received for instruments not negotiable in organized markets, the structure and features of the negotiation included in the prospectus or product files made available commercially shall be ensured.
3.2 Custody customersFor custody Customers (actions associated with instruments deposited or registered with the Bank), the Bank only offers a service that solely assists them in the sale of the financial instruments resulting from corporate events in the assets deposited or registered with this Institution.On exceptional occasions related with corporate events, the Bank may help in the purchase of financial instruments, namely the subscription or swap rights, so as to enable the client to exercise the remaining rights in a more efficient manner, if that is the Customer's intent . The list of suppliers used by the Bank to execute orders in markets of which it is not a member may be found in the Bank's website: www.millenniumbcp.pt or at the Bank's Branches. This list will be updated when deemed necessary.
4. Specific instructions of the Clients
It is considered that a Customer issued specific instructions namely when the transmission of the order, pursuant to a request made by the Customer, has been immediately preceded by a communication made by the Bank to the Customer, pursuant to a request made by the latter, informing it on the price of a determined financial instrument and the order effectively issued reflects the information received.Yet, the Bank warns that, by giving specific instructions to execute a certain order, the Client may jeopardize the Bank's execution or transmission under the best conditions for its interests, as stated in the Bank's Policy for Executing Orders.
5. Monitoring
The application of our Policy for Executing Orders will be monitored by the existing internal systems.
6. Revision of processes
Periodically, at least once a year or whenever deemed necessary, the Bank shall revise its processes so as to evaluate its Clients' orders execution conditions.
7. Execution locations
Currently the Bank provides the services relating to the execution, reception and transmission of investment orders in the primary and secondary markets, as well as the execution of orders on over the counter (OTC) debt financial instruments.The Bank chose the following relevant markets based on their liquidity and representativeness
a) Cash Markets(i) The Bank has direct access to the following negotiation
platforms (regulated markets and multilateral negotiation systems):- France - NYSE Euronext Paris- Portugal - NYSE Euronext Lisbon- Netherlands - NYSE Euronext Amsterdam- Belgium - NYSE Euronext Brussels
ii) The Bank has indirect access to the following trading platforms:- Germany - Deutsche Boerse - Austria - Wiener Boerse - Denmark - Kobenhavns Fondsbors (Copenhagen
Stock Exchange)- Spain - Bolsa Madrid - Finland - NASDAQ OMX Helsinki (Helsinki Stock
Exchange)- Ireland - Irish Stock Exchange - Italy - Borsa Italiana - Norway - Oslo Bors (Oslo Stock Exchange)- United Kingdom - London Stock Exchange - Sweden - OMX Nordic Exchange Stockholm
(Stockholm Stock Exchange)
- Switzerland - Swiss Exchange - United States - AMEX, NASDAQ, NYSE, NYSE
ARCA,XOTC
b) Futures and Options Markets (i) The Bank has direct access to the following trading
platforms:- Eurex
(ii) The Bank has indirect access to the following trading platforms:- NYSE NYSE Euronext- CME - Chicago Mercantil Exchange- CBOT - Chicago Board of Trade - NYMEX - New York Mercantile Exchange- ICE - Intercontinental Exchange (Futures operators
and over-the-counter - OTC)- MEFF - Mercado Oficial Español de Futuros y Opciones- ISE - International Securities Exchange (Options)
c) Over-the-counter marketsThe Bank acts as an intermediary in over-the-counter operationsfor the following financial instruments:
- Money market Instruments- Foreign Exchange market instruments- Public Debt Instruments- Private Debt Instruments- Debt Structured Instruments - Interest Rate Derivatives - Foreign Exchange Derivatives - Commodities Derivatives - Stock Derivatives - Credit Derivatives
ATTACHMENT II - Investing advice regarding securitiesand other financial instruments
1. Scope
a) This attachment aims to regulate the Bank's provision ofadvising services regarding investment and transactions tobe made by the Client on securities or other financialinstruments;
b) Investment advice, within the scope defined in a), means thatthe Customer receives advice, recommendations orinformation, specific to his/her/its assets, risk profile andgoals;
c) This service clearly excludes the possibility of the Bankmaking decisions on behalf of the Customer, thereforeinvestment decisions are always and single-handedly madeby the Customer, even if based on the advice,recommendations or information provided by the Bank.
2. Requirements
a) The Bank will, before providing the advisory services, askthe Customer to purvey all the information regardinghis/her/its knowledge and experience in investmentregarding the type of instruments and service in question;
b) Besides the information mentioned above, the Bank shallalso require of the Customer all the information necessary,under the terms of the applicable law and regulations, for itto verify the adequacy of the provision of this service to theCustomer's profile, by previously making a Customer ProfileTest.
3. Object, manner and frequency
a) Investment advisory services consist of the provision ofproposals to allocate assets, made based on the Customer'sspecific features, namely his/her/its risk profile, assets andinvestment goals;
b) The Bank shall gather information autonomously, in terms ofcriteria and assessment, being obliged to provide to theCustomer the document named "Investment Proposal" whenthe specific features of the Customer convey, at the Bank'sdiscretion, that such proposal fits the Customer's risk profileand investment time frames, and also whenever the financialmarkets provide investment opportunities deemed interestingand appropriate by the Bank, considering the Customer'scharacteristics, and whenever the Customer so requires inwriting;
Mod. 10900436
07-1
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O C
OM
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L P
OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
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for
inte
rmed
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n of
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and
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-life
insu
ranc
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Página 14 de 30
c) The parties may agree on the frequency of provision ofAdvisory Services.
4. No exclusivity
Without prejudice to the strict compliance with the applicablestandards on conflicts of interests, the Bank may provide thesame information object of this Service to other entities.
5. Costs
a) The Bank will not charge the Customer fees for providing thisService;
b) Yet, the customer will be responsible for expenses, fees andother costs due for the transactions ordered by the Customer,as per these General Conditions of Registration and Depositof Financial Intermediation Financial Instruments.
6. Protection of the information provided
The information and data provided by the Bank to the Customerthrough this Service, in any manner or form, that do not have anexternal source, duly identified, belong to the Bank and all theircomponents, graphics and texts are protected by the CopyrightLaw and Related Rights.
7. Liability
a) The Bank will act in good faith and with care in the gathering,disclosure and handling of the information provided underthis Service;
b) The Bank provides no guarantee on the data in theinformation, namely regarding the effective profitability of thesecurities or the results, or the occurrence of events;
c) The Customer is entirely and exclusively liable for theinvestment and/or divestment decisions he/she/it makes,even if based on asset allocation proposals made by theBank pursuant to this Service.
Attachment III - Information on risks
1. Definition of specific risks in services and financialintermediation activities
The Bank informs its Customers that, in the negotiation offinancial instruments, the Customer is exposed to the followingrisks:a) Market risk: The market risks inherent in the negotiation of
financial instruments consist of the possibility of aninvestment not being profitable, for the Customer in relationto their expectations due to market fluctuations. Market risksinclude the risk of prices or rates (specifically interest ratesand/or exchange rates) varying adversely in relation to thepersonal interests of each Customer and as a consequenceof uncontrollable and undeterminable economiccircumstances. Included under this type of risk are stockmarket variations.
b) Credit risk: Credit risk consists of the chance of one of theparties not fulfilling their obligations, leading to losses due todefault. The Customer is exposed to the following types ofcredit risk:I - Credit risk due to default by issuers: upon
reimbursement of capital, in financial instruments with amaturity date (bonds) and in the payment of dividendsor interest.
II - Credit risk due to default in settling businessoperations: The Customer is subject to these risksunder the terms and conditions defined by the differentcounterparties involved in business operations and ineach party’s place of negotiation. The Bank’s settlementprocedures in force eliminate the risk of paymentswithout counterparts, however, there are stillconsequences related to any cancellation of businessoperations or delays in their settlement.
III - Liquidity risk: This risk resides in a potential inability tonegotiate, in terms of speed and reasonable price, anysecurity, which may result in losses for the Customer.
IV - Operational risks: Difficulties in processing andexecuting services involving financial instruments,namely for technological reasons, expose the Customer
to losses due to a deterioration in the quality of theservice, resulting from the reduced capacity to executetransactions, delays, interruptions, inaccuracies anderrors in relation to normal standards. Therefore, theBank informs the Customer that, due to force majeure,he/she/it incurs the risk of losses originating fromreasonably unforeseeable difficult to control factors,specifically: strikes or social unrest, cuts in energysupply or an interruption in the supply of electrical powerdue to natural causes or human action in computersystems, telephone lines or data transmission lines,communications and negotiation or informationsystems. Should an unpredictable event occur, theBank shall make every effort to defend the Customer’sinterests in order to minimise the consequences of theaforementioned events.
V - Systematic risk: The organisation of the globalfinancial system is based on trust. Therefore, thebankruptcy of a company, particularly a financial one,or a settlement system, or any other event ofcatastrophic nature, may result in a “domino-effect” andgenerate a crisis of confidence in the financial system.Systematic risk may significantly change the normalliquidity conditions of financial instruments and/ordramatically increase market volatility, destroyingnormal pricing patterns.
2. Definition of added risks of financial leveraging onfinancial instruments
The Bank informs its Customer that financial leverage allows theinvestor, should he/she/it so wish, to obtain a much greaterexposure to the value of their capital. The amount of marginrequired for each agreement is small in comparison with theamount of real exposure. Nevertheless, the Customer shouldalways take into consideration that financial leverage not onlyresults in gains, but also losses, thereby elevating risk.As a strategy to reduce the aforesaid risk, the Bank advisesCustomers to closely monitor developments in the value ofinvestments.The Bank informs its Customers that leveraged financialinstruments increase market risk in relation to the respectiveunderlying risks. Therefore, Customers should refrain fromcontracting any services or negotiating products involvingfinancial leverage if they do not have appropriate experience andability for the risk profile.The Bank informs its Customers that the negotiation of anyproducts that resort to financial leveraging (specificallyderivatives) assumes that:(i) the Customer possesses the experience and knowledge
necessary to understand the risks involved;(ii) their assets allow them to bear financially any risks linked to
the investment, specifically that it has the ability to toleratesudden and rapid losses of capital;
(iii) they have a stable monthly flow of income and have theability to rapidly mobilise liquidity that allows them to bearpositions of risk in the market, specifically to strengthenmargins;
(iv) they have sufficient time available to systematically monitorthe development of their results.
3. Alerts for additional services for investment in financialinstruments
I - Day-trading:The Bank informs the Customer that the systematic activity ofrotation of investments over very short periods, namely duringthe day, day-trading, with the aim of gaining benefits fromvariations of the prices of financial instruments, leverages marketrisks if compared to a more defensive attitude geared towardslong-term investment. The Bank also informs that this activitydetermines higher financial intermediation costs, whereby thepotential benefits of this activity may be lower than the addedcosts of financial intermediation.
II - Asset management service:The Bank informs the Customer that the asset managementservice provided by its managers is a discretionarymanagement. This service is formalised through a separateagreement, where the conditions, financial instruments coveredand associated risks will be specifically set out.
Mod. 10900436
07-1
6 M
A
BA
NC
O C
OM
ER
CIA
L P
OR
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, 28
, O
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ffice
of
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with
the
uni
que
regi
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and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
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for
inte
rmed
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n of
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and
Non
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tugu
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de S
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S.A
., M
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aúde
, S.A
. and
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sões
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Ges
tora
de
Fun
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de P
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.A. I
nfor
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r de
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of t
he r
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avai
labl
e at
ww
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p.pt
.
Página 15 de 30
D - GENERAL CONDITIONS OF USE OF REMOTECOMMUNICATION CHANNELS
Clause 1: Scope
1. These General Conditions are meant to regulate the termsand conditions for the access by the Client and provision bythe Bank of remote communication channels.
2. For the purposes of this chapter, the following are consideredremote communication channels:a) Telephone Channel, hereinafter referred to as Contact
Centre when it involves a call centre service –communication by phone established by initiative of theClient or of the Bank, including the phone contactsestablished through the Contact Centre (communicationsassociated to the phone numbers 707502424 /918272424 / 935222424 / 965992424 (domestic call) and+351707502424 / +351210052424 (international call) orother numbers that may replace them that are disclosedby the Bank);
b) Internet – the Client's access to the Bank's websiteatwww.millenniumbcp.pt;
c) Mobile - the Client's access to the Bank using MillenniumApp, MBolsa App, Mobile Web and Mobile SMS;
3. The Remote Channels Service grants access to the Bank'sbanking and financial services, enabling access to thecurrent account for consulting, getting information andmaking operations, as well as disclosing, selling and buyingfinancial products and services from a distance, includingthose related to payment services, securities and insurances.
4. The Client can link other current accounts he/she holds(aggregated accounts) with the Bank to the RemoteChannels Service. For that the client must get theauthorisation of all the holders, in case of a tenants-in-common account or of a mixed use account withoutautonomous powers to use it.
5. If the current account or aggregated account is a tenants-in-common account or of a mixed use account where the Clientdoes not have autonomous powers to use it (i) access to theInternet and Mobile channel is limited to viewing andobtaining information, without access to execute operations,(ii) the use of the Contact Centre to execute operationsimplies a verification procedure under the terms of clause 4(2).
6. Through the remote channels, the Customer may ask topurchase products or services with third party entities, underthe terms of the agreement entered into between the latterand the Bank.
7. Within the scope of the communications made by phone, theClient accepts to be contacted on the Bank's initiative.
8. The use of the remote means of communication shall alsobe subject to the provisions of Chapter A above in relation tothe part of this Chapter not specially regulated.
9. All agreements concluded through the remote channels aresubordinated to these General Conditions and the General,Special and Specific Conditions applicable to the contractingof each product or service provided, as well as the price listin force at the Bank, applicable legislation and bank use ingeneral.
Clause 2: Risks associated with the remote communicationchannels
1. It is hereby explicitly agreed and accepted that, consideringcurrent knowledge and the technologies available, the Bankcannot guarantee that the Client is completely safe againstfraudulent actions of third parties targeting the Client'saccount, being the latter bound to strictly follow the securityrecommendations issued by the Bank at all times, under theterms of the document ANNEX - RISKS AND SAFETYRULES, which is an integrant part of this Agreement and ofthe regular warnings issued by the Bank atwww.millenniumbcp.pt, which the Client commits to read andfully obey.
2. The Bank is in charge of ensuring that its website and itsMobile Banking services are reliable and that its servers andIT components are safe.
3. The Client is responsible for the safety and reliability of theIT and communications equipment used to access remotechannels, namely computers, mobile phones and internet
connections owned by him/her/it or under his/her/its care,under the terms of numbers 4 and 5 below.
4. The Customer must possess computer and communicationequipment with the appropriate characteristics to be able toaccess the Bank through remote channels, the security,maintenance and any modifications necessary to ensurepermanent access to the Bank via this channel being his/herresponsibility, in accordance with the technologicalinnovations and changes that may be introduced andsecurity recommendations published.
5. The minimum requirements in terms of equipment andcommunications necessary at any time to use each remotechannel are described at www.millenniumbcp.pt, in theinformation spaces of each channel.
Clause 3: Access/identification codes and Client'srecognition
1. To have the possibility of accessing the current account andother aggregated accounts resulting from this Agreement theClient must use specific identification and recognitionprocedures, by means of personal secret codes and also, insome cases, a User Code, under the terms of the followingnumbers.
2. The customer will be given a secret code - the MultichannelCode - which is essential to access the contact centre,internet and mobile channels.
3. Access to the internet and mobile channels requires anadditional User Code which should be altered the first timethe client logs on www.millenniumbcp.pt.
4. Under the scope of telephone communications that do notrequire the use of a Multichannel Code, the Customerdeclares and agrees that the Bank shall consider him/heridentified and recognised as soon as he/she indicatescumulatively and correctly the answer to questions asked bythe Bank on the Customer’s financial assets items, depositaccounts held by him/her or other facts that are known to theBank through the General Account Opening Conditions, orother that have previously been agreed between the parties,all in compliance with the client's identification andrecognition procedures for that channel.
5. The Client's orders given through remote channels may besubject to additional confirmation, under the terms of clause4 below. Regarding the Contact Centre and Mobile/SMSchannels, the confirmation of transactions requires a secretcode – Confirmation Key - previously given by the Bank.
6. The Multichannel Code, the User Code and the ConfirmationKey are personal, confidential and not transferable and theCustomer cannot allow third parties to use them, even if theyare his/her/its attorneys, being bound to use them correctly,exclusively in person and assuming all risks resulting fromtheir undue disclosure.
7. If in any situation, the Customer has reason to believe thatthird parties are aware of his/her Multichannel Code orConfirmation Key, the Customer must immediately contactthe Bank so that the codes are blocked.
8. For safety reasons, the Bank never asks a client to enter theMultichannel Code or the Confirmation Key in full.
9. At www.millenniumbcp.pt the Client can alter theMultichannel Code and the User Code at any time. TheConfirmation Key can be altered through the Contact Centrechannel. The Multichannel Code can also be altered throughthe Contact Centre channel (only through the automaticVoice Response System).
10. Through the services available, the Customer may at anytime define and manage the operations that, involving anytype of change to their assets and according to thebeneficiaries concerned, do not require additional indicationof a secret code to be executed.
11. The Bank may at any time define a set of conditions - inrelation to beneficiaries, operations or amounts - whoseverification does not require that the Customer enter a secretcode to execute operations.
Clause 4: Processing Customer instructions
1. Without damaging the provisos of clause 6 (1) the Client maygive instructions to the Bank through the remotecommunication channels any time of the day, every day ofthe year, exception made to the telephone channel that is
Mod. 10900436
07-1
6 M
A
BA
NC
O C
OM
ER
CIA
L P
OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
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- C
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nhia
Por
tugu
esa
de S
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os d
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S.A
., O
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- C
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Por
tugu
esa
de S
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os,
S.A
., M
édis
- C
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Por
tugu
esa
de S
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e S
aúde
, S.A
. and
Pen
sões
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dade
Ges
tora
de
Fun
dos
de P
ensõ
es, S
.A. I
nfor
mat
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he r
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avai
labl
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ww
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.
Página 16 de 30
subject to the following working hours: (i) Contact Centre,human assistance-between 22:00 and 08:30 only emergencyservices are available; (ii) remaining phone communications,in accordance with the Bank's Branches working hours.
2. For certain operations made through remote channels,namely payments of significant amounts by debit to thecurrent account or to a Service linked account, an additionalconfirmation may be required through (i) an electronic StrongAuthentication System (SAFe) with codes generated by SMSor Token, or (ii) random positions of the secret code -Confirmation Key.
3. The parties accept the legal equivalence of the set of AccessCodes and eventual SMS/Token code or Confirmation Key tothe Client's written signatures.
4. All information requests or instructions issued using theClient's Access Codes and eventual SMS/Token code orConfirmation Key will be construed by the Bank as beingmade by the Client and the Bank will not be required to verifythe user's ID in any other way. This proviso will not damagethe Bank's right to restrict the acceptance of instructions totheir prior confirmation in writing or in any other mannerdeemed convenient or to limit acceptance of certaininstructions based on amounts, number of orders or othercriteria.
5. The orders and instructions that the Bank receives, providedthat they are properly validated through the use of the AccessCodes and eventual SMS/Token code or Confirmation Keyenjoy full legal effect, the Bank remaining irrevocably entitledto fulfil them and effect the debits and credits arising fromthem, it being understood, in any case, that the Bank acts tocomply with the orders and instructions given by theCustomer.
6. The provisos of 2 to 5 above also apply to the contracting ofproducts or services with third party entities, as set out inclause 6 (1), the Bank acting, under this provision, on behalfof and in representation of those entities.
7. The execution of the orders given by the Customer will becarried out in accordance with the conditions applicable tothe type of remote channel, service or product requested.
8. The Bank may refrain from executing orders transmitted bythe Customer where they do not respect applicable statutoryprovisos or conflict with banking practices, when the accountconcerned does not have sufficient funds for the intendedoperation, or when any provision shown in these Conditionsis not fulfilled, particularly due to some irregularity in theprocess of transmitting and/or authorising the order inquestion that is not adequately remedied within 72 hours.
9. Once authorised and sent to the Bank for immediateprocessing, no alterations may be made, nor may thetransmitted orders be cancelled via the remote channels.
10. Considering that the services and operations made availableby the Bank through the remote channels are subject tointerference, interruptions, disconnections and otheranomalies, namely as a consequence of malfunctions,overloads, line charges and other events unrelated to theBank, the Customer expressly acknowledges that no liabilitycan be incurred by the Bank as to the potential or actualdamages that may be borne directly or indirectly by theCustomer pursuant to such events.
11. The “BancoMail” function of the internet channel does notobligate the Bank to execute the orders, unless this isexpressly agreed.
12. Applicable only to the Contact Centre and in case of atenants-in-common account or of a mixed use accountwithout autonomous powers for the Client to use it, for anyoperation to be executed the Bank must previously receiveconfirmation in writing from all the co-holders that bind theaccount. This confirmation must be sent within 48h at mostafter the orders are transmitted.The Customer accepts that, in these cases, the confirmationis sufficient means of proof for the operations thereinmentioned.
13. If the Client answers correctly the questions made in eachcall, as agreed in the identification and recognitionprocedures foreseen in clause 4 (3), and states that he/sheagrees with the specific proposals made by Millennium bcp,the Bank is hereby authorised to debit the amount and costsassociated with the respective transaction.
14. For safety reasons and as a means of proof, the Clientauthorises the Bank to record all conversations under thescope of the personalised telephone channel, recognisingthe validity of these recordings as full evidence of the will toestablish a business relation manifested by any of the partiesvia that channel, namely information, clarifications, orcounselling provided by the Bank, of orders and instructionstransmitted by the Client, or the subscription by the Client toservices commercialized by the Bank.
Clause 5: Operations recording
1. The Customer and the Bank agree that the computerrecording of operations carried out under this Agreement,which may be viewed on screen and/or printed on paper,constitutes appropriate evidence of the orders given by theCustomer.
2. The Bank undertakes to maintain the information it providesto the Customer via the Internet and Mobile channelspermanently updated. However, the Bank’s own accountingrecords shall always take precedence over this.
Clause 6: Suspension, blocked access and termination ofthe Agreement
1. It is herein expressly agreed that the Bank has the right tosuspend, block or cancel the Service or the Client'sconnection to the Bank, totally or partially, through the remotecommunication channels if the Bank considers such justifiedfor safety or risk reasons or suspicion of a unauthorised orfraudulent use of those means and if there is a significantrisk that the Customer will not be able to comply with his/herpayment obligations and also if the internal processing datasystem is being object of repair, maintenance or underimprovement.
2. The Bank commits to inform the Customer of the blocking ofthe remote communication channels and provide therespective justification by means of an automatic message orother appropriate mean, sent, if possible before the blockingis made, or, in any case, immediately after the blocking ismade – except if such information cannot be provided forduly justified safety reasons or the same is forbidden by otherapplicable legal requirements.
3. For security reasons, Customers will be prevented fromaccessing Bank services through the Contact Centre,Internet and Mobile Remote Channels should there be threeconsecutive failed attempts to enter their Secret AccessCode.
4. If the situation described in the previous paragraph occurs,the Access Codes can be reactivated by contacting a Branchin person or by phone through the Contact Centre channel.
5. If the original Access Codes cannot be reactivated accordingto the previous paragraph, a new User Code and SecretCode must be obtained using the means available for thispurpose, such as Bank branches or Multibanco ATMmachines.
6. In the case of loss, theft or reproduction of User Codes orSecret Codes, or in any situation indicating that unauthorisedparties have accessed the service, and whenever theCustomer verifies the registration of any unauthorisedtransaction on the account, or the existence of errors orirregularities in the execution of operations, the Customershall promptly inform the Bank by the most expeditiousmeans, with confirmation in writing within a period notexceeding 5 days.
7. If the situation described above occurs and if the Bankobjectively considers it to be appropriate, should it findevidence of irregularities or to protect the Customer’s assets,it shall block access to the accounts through the ContactCentre, Internet and Mobile Remote Channels.
8. Blocking accesses according to the preceding paragraph willresult in the automatic cancellation of the Access Codes andtermination of this Agreement, being the Bank obliged toimmediately notify the Customer of that event in writing tothe address of the current account or to the e-mail addresspreviously provided by the Customer and in the Bank'srecords.
Mod. 10900436
07-1
6 M
A
BA
NC
O C
OM
ER
CIA
L P
OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e V
ida,
S.A
., O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os,
S.A
., M
édis
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e S
aúde
, S.A
. and
Pen
sões
gere
- S
ocie
dade
Ges
tora
de
Fun
dos
de P
ensõ
es, S
.A. I
nfor
mat
ion
and
othe
r de
tails
of t
he r
egis
trat
ion
avai
labl
e at
ww
w.is
p.pt
.
Página 17 de 30
Clause 7: Underage Customer, holder of a demand depositaccount, aged 14 or more
1. For current accounts held by a customer aged between 14and 17 years old, his/her legal representative(s), due to theverification of the natural capacity of the underage customeron account of his/her age, may request in writing that theBank grant the underage customer a Multichannel Code forthe Contact Centre, Internet and Mobile channels and, forthe last two remote channels, the respective User Code,being the Bank free to accept, or not, the granting of theAccess Codes requested.
2. This access code shall allow the underage customerexclusively to verify the information – account balances anddebit/credit entries – of the current account. No otheroperations or transactions will be allowed.
3. The Multichannel Code and the User Code are personal andnot transferable and will be exclusively given to the underagecustomer who must use it in full compliance with theseGeneral Conditions. His/her legal representative shall beresponsible, before the Bank, for their appropriate use.
Clause 8: Financial information
1. The financial information provided by the Bank through theInternet and Mobile channels, namely share prices, indexes,news, studies or any other is merely informative and is madeby third parties that authorized the Bank to disclose it to itsCustomers.
2. In spite of the careful selection made by the Bank concerningits sources of information, errors or omissions may not bedetected by it; hence, the Bank cannot guaranty the accuracyof the disclosed information nor be deemed liable for theincorrect use or interpretation of such information.
3. The Client shall use the disclosed financial information athis/her own account and risk and will be exclusivelyresponsible for the investment decisions made based onsuch information.
Clause 9: Other Requirements
1. The Client shall bear no costs for contacts initiated by theBank without prejudice to the price or charges due for thefinancial service engaged pursuant to each contact.
2. The payment of all financial products and services andinsurances acquired by the Client while using the remotechannels defined in these General Conditions can be madeby debit to any individual or joint-tenancy account held or tobe held by the Client with the Bank.
ANNEX - RISKS AND SAFETY RULES
Rules to access the Millennium bcp portal.
1. Never open the Millennium bcp Portal through links. Alwaystype the complete address www.millenniumbcp.pt
2. Don't trust e-mails allegedly sent by Millennium bcp,requesting personal and/or confidential data, for instance theMultichannel Code, the Confirmation Key, the telephonenumber, etc. Millennium bcp NEVER asks its Clients for thiskind of information by e-mail or in any other way;
3. Whenever you access your bank accounts through theMillennium bcp website, check if the address starts withhttps://ind.millenniumbcp.pt/ and that at the end of theaddress bar a lock is shown;
4. Don't access websites with personal or confidential/sensitiveinformation or that enable banking operations using links.Always type the complete address of the website you wish toopen in the address bar;
5. In case of doubt, confirm the origin of the Digital Certificate -double click on the padlock - and check if it actually identifiesMillennium bcp;
6. Don't use obvious Multichannel Codes (12345; 111111; dateof birth; etc) to access the home banking of Millennium bcp.Change your Multichannel code regularly at “Customizer”,in the “M” tab, at the top bar menu;
7. Define unique Access Codes for the Millennium bcp websiteand don't use them on other websites;
8. Never give third parties personal identification data that canbe used for certification with the mobile phone operators, orUser codes, Multichannel or other codes, namelyauthorization codes received by SMS message or Token.You should also prevent third party access to the equipmentsused for banking operations as well as to their components,such as SIM cards.
9. Should you suspect that your access codes have beencompromised, please change them as soon as possible orrequest that they be blocked using the phone channel.Should you find that your phone is inactive, please contactyour operator immediately to ensure the correct functioningof the SIM card.
10. You should always read our Newsletters and the informationwe provide on security. If you wish us to write about asecurity issue in our newsletter, send us your suggestion;Whenever you have doubts or if you need further information,please e-mail us to [email protected], or callus on 707502424.
Rules to access the Contact Centre service
1. You can call the Bank using the following numbers:707502424 / 918272424 / 935222424 / 965992424; or fromoutside Portugal: +351707502424 / +351210052424.
2. You will access this service with your current account numberand the first four positions of the Multichannel Access Code.
3. To validate your operations you'll need the confirmation key,of which only 3 random positions will be requested.
4. To make some transactions or to alter personal dataadditional security data may be requested (personal or bank-related).
Rules to access the Mobile services
- App Millennium:
1. This is a native app for mobile phones available for: iPhone,iPod Touch, iPad, BlackBerry®, Smartpones Java,Windows® Phone 7 and AndroidTM.
2. Never install this app outside the brands' official websites(Apple Store, Play Store, Marketplace) or millenniumbcp.pt(never install the Millennium app using links sent by thirdparties).
3. To access the app you'll need a 4 digit PIN code defined bythe user during the registry.
4. Whether for you to access your account or to maketransactions, Millennium bcp will never ask you,simultaneously, for more than 3 digits of your MultichannelCode; therefore any such request may be a fraud attemptand should be reported by calling: 707 50 24 24.
Mod. 10900436
07-1
6 M
A
BA
NC
O C
OM
ER
CIA
L P
OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
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uros
, re
gist
ered
at
the
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pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e V
ida,
S.A
., O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os,
S.A
., M
édis
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e S
aúde
, S.A
. and
Pen
sões
gere
- S
ocie
dade
Ges
tora
de
Fun
dos
de P
ensõ
es, S
.A. I
nfor
mat
ion
and
othe
r de
tails
of t
he r
egis
trat
ion
avai
labl
e at
ww
w.is
p.pt
.
Página 18 de 30
- Mobile Web:
1. Never open the Mobile Web service using links. Always typethe complete address https://mobile.millenniumbcp.pt.
2. You'll access the Mobile Web service using the same codesyou use for Millennium bcp's website, i.e. User Code and 3random positions of the Multichannel Access Code.
3. Millennium bcp will never ask you, simultaneously, for morethan 3 digits of your Multichannel Code, therefore any suchrequest may be a fraud attempt and should be reported bycalling: 707 50 24 24.Never give to third parties the authorization codesreceived via SMS message or Token.
4. Should you suspect that your Access Codes have beencompromised, please change them as soon as possible atmillenniumbcp.pt or request that they be blocked using thephone channel.
- Mobile SMS:
1. Mobile SMS allows Clients registered with Millennium bcp tomake their main consults and operations using their mobilephones by sending an SMS message to 3352*.
2. This service implies a registry and activation that can onlybe made on the Bank's website, with authorization given bySMS message or Token. If you receive a suggestion tellingyou to activate it using a link or another web page, beware;
3. When you make a transaction you'll receive a message withthe operation's data and the request to provide three randompositions of the Confirmation Key. Check if all the data arecorrect before you send a new message with the positions ofthe Confirmation Key. Should you get a message with atransaction that you did not initiate or request, don't answerand contact the Bank immediately.
Risks
If one fails to comply with the recommendations issued above,the use of remote channels may lead to the following risks for theusers:- Access by third parties to personal and confidential data;- Execution of transactions by third parties using the assets in
the account and/or products accessed.
E - CREDIT GENERAL CONDITIONS
Clause 1: Scope
These General Conditions apply to the granting of credit by theBank, specifically through discounting bills, loans, currentaccounts, warranties, guarantees, sureties, opening andnegotiating credits, discounting documentary remittances andexternal credit, unless others have been agreed under a specificagreement.
Clause 2: Approval of credit proposals
The granting of any of the credit lines referred to above dependson approval of the Bank of the respective proposals and itssubsequent credit on account constitutes sufficient proof of theirrespective attribution.
Clause 3: Purpose of the credit
The Client pledges to use the borrowed funds exclusively for thepurpose agreed. Non-compliance with this condition may causethe debt to be due entirely and immediately and entitles the Bankto demand its immediate repayment.
Clause 4: Supervenient Amendments
1. The Bank may unilaterally amend the conditions applicableto the credit operations contracted in relation to income dueto it in interest and/or defined margin or spread and/or fees.
2. In credit operations with a determined duration, the alterationunilaterally made by the Bank of the conditions foreseen inthe previous number can only take place if any of thefollowing circumstances occurs: a) If the Client fails to timely comply with any pecuniary
obligation, resulting from any other agreement alreadysigned or to be signed with the Bank;
b) If there are registrations of past-due loans (default) in thename of the Client at the Central Credit Register of Bancode Portugal reported by other participating entities otherthan this Bank; or
c) If a cheque or cheques of the Client is/are returned dueto insufficient funds; if he/she is prevented from usingcheques or if he/she fails to comply with any paymentobligation(s) that he/she is obliged to meet; or
d) If the Client fails to duly comply with any obligationwhatsoever, established in any act or promissory ordefinitive agreement for the provision of real or personalguarantee for this loan, signed or to be signed or anyobligation arising from such provision; or
e) If any movable or immovable asset(s) or credit right(s)(including bank account balances) of the Client is/areseized, pledged or in any other way distrained by order ofa court; or
f) If there is/are supervenient market changes(s) inaccordance with the provisos of number 7 of this clause;
3. In credit operations with a determined duration, it is hereinexpressly agreed that the Bank may unilaterally amend theconditions applicable to fees foreseen, one or more times, incase and as much as the national inflation rises (averagevariation of the last 12 months), as disclosed every year byINE (Portuguese institute for statistics), and always up to themaximum limit defined in the Bank's pricing for the fee objectof the amendment.
4. For purposes of the provisos of the previous numbers, theBank must report to the Client, via prior written notice, thechange(s) to apply to the contract, indicating the new interestrate and/or margin or spread, or fees applicable, the termand the way to exercise the right to terminate the contractand the date when the alteration produces effects and also,concerning credit operations with a determined duration, thereason(s) underlying the decision to alter the contract, inaccordance with the following numbers of this clause.
5. In this case, within ninety calendar days counting from thedate of reception of the notice, the Client may terminate theagreement due to these changes and should thenimmediately make the early repayment of the full loanoutstanding by the end of that same period, without penalty.
6. The amendments notified by the Bank as per nr. 4 shall bedeemed permanently accepted if the Customer does notterminate the agreement within the period set out in nr. 5 andshall be applied and due as of the beginning of the interest-bearing period immediately following the end of the stipulatedperiod for termination.
7. For the purposes specified herein, the circumstances beloware considered supervenient market changes:a) If the cost or spread for obtaining funds by the Bank from
the relevant market for operations with a similar time limitexceed the cost or spread applicable at the time thecredit operation or the interest rate or spread applicablethereto is concluded; and/or
b) If the agreed index no longer exists or, the Bankconsiders that it no longer as significant (in which case itwill be replaced by the Bank, under the terms of thisClause, being BCP bound to chose as index rate anyother rate available in the market and that is as significantas the agreed index at this moment); and/or
c) If the Bank has to constitute reserves or mandatorydeposits, based on the amount of loans to its Customers,or if there is an increase in the values for provisions orcredit impairment, or in cash reserves, or if the solvencyratio registers a bad performance or if credit costs risepursuant to any law, regulation or decision made anofficial entity, that enters into force in Portugal, whether itis new or changes the regulations presently in effect.
8. Changes to the agreement that may be carried out by onlyone party under the terms of numbers 2 and 3 of this Clauseshall apply only while the specific circumstances that causedthe change are in effect. Therefore, and if the facts thatjustified the situation cease to exist a the initial marketsituation is recovered and all the circumstances thatoriginated the contract changes ceased to exist, the Bankwill inform the Customer, in writing, of the end of the contractchange in question. In this case, as of the beginning of theinterest period immediately following the remittance of thewritten notice, the remuneration conditions in effectimmediately prior to the unilateral amendment mentionedabove, and that were modified for the purpose thereof, shallapply.
Mod. 10900436
07-1
6 M
A
BA
NC
O C
OM
ER
CIA
L P
OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e V
ida,
S.A
., O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os,
S.A
., M
édis
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e S
aúde
, S.A
. and
Pen
sões
gere
- S
ocie
dade
Ges
tora
de
Fun
dos
de P
ensõ
es, S
.A. I
nfor
mat
ion
and
othe
r de
tails
of t
he r
egis
trat
ion
avai
labl
e at
ww
w.is
p.pt
.
Página 19 de 30
Clause 5: Remuneration
1. Unless otherwise agreed in a specific agreement, thecompensatory interest applicable to the credit operationsshall be set by the Bank according to the nature, period andrisk of the operation, being adjustable by simple decision ofthe Bank and communicated under the legal and contractualterms stipulated.
2. In credit operations with a variable rate indexed to referencerates if the application of the contractual requirements resultsin a negative index interest rate, it is deemed that it willcorrespond to 0% (zero per cent), being the applicableinterest rate determined by adding the defined spread to thisvalue.
Clause 6: Renewal or extension of the term of theoperations
In cases where, upon acceptance by the Bank, amendment,extension or renewal of the term of operations occurs, forpurposes of determining the interest rate applicable, the overalltimescale corresponding to the entire period since the beginningof operation up to maturity shall be used. Therefore, and unlessotherwise agreed, the rate corresponding to the overall periodshall apply from the beginning of the operation, retroactivelycovering the differential between the interest rate correspondingto the total period and the rate corresponding to the initial period.
Clause 7: Default
In case of default, the borrower undertakes to pay, besides allother charges, default interests on the respective amount whilethe loan is past due or in default, computed using the interestrate applicable to the operation and in effect on the date the loanis past due, plus the maximum annual surcharge permitted bylaw, presently three percent. The Bank may, at any moment, addthe regular interests due and unpaid, for at least one month, tothe outstanding principal, even if in default. The default interestforeseen in number one will also be charged on the regularinterests.
Clause 8: Termination of the credit agreement
1. Failure to fully satisfy any financial instalment payable as aresult of a contracted credit operation shall entitle the Bankto terminate either the agreement in which the defaultoccurred or any other agreements relating to creditoperations in force between the parties, due to therelationship of trust upon which they are all based havingbeen jeopardised.
2. The Bank may likewise terminate agreements relating tocredit operations when the Customer is in default with theState, Social Security, employees or when he/she is thesubject of execution proceedings.
Clause 9: Ranking of Partial Payments
Any partial payment of a credit operation shall be attributedsuccessively expenses, charges, interest and capital, unless theBank otherwise accepts a written proposal.
Clause 10: Collateral Promissory Notes
The Bank is expressly authorised to complete any collateralpromissory note undersigned by the Customer, affixing therespective amount up to the liability limit assumed with the Bankin Euros or in foreign currency, coming from bank guarantees orto be provided by the Bank at its request, documented credits,foreign exchange spot or term operations of any kind, creditfacilities in the form of current accounts, promissory notes, billsand their discounts, guarantees on securities, debits as a resultof using any credit cards or debit cards, and loans granted bypermission of the use of overdrafts on demand deposit accounts,plus all charges with stamp duty on securities and interestaccrued and unpaid, the maturity date and place of payment.
Clause 11: Discount of bills
1. When bills or other credit instruments are presented fordiscount, the Customer authorises the debit of his/her
account by the amount of the bill, as well as any relatedexpenses and interest, if the respective payment is notobtained by the acceptor or principal debtor.
2. The Bank may cancel the credit on account arising from thediscount of bills, when it is subsequently revealed that theysuffer from a defect affecting the validity of the obligations ofany of the signatories.
Clause 12: Debit authorisation
In order to completely or partly settle the liabilities, the Bank may,without prior notice, debit any demand deposit account of whichthe borrower is holder or becomes holder or joint holder, to payany debts for which any of the joint holders is liable to the Bank.
Clause 13: Loss or delay not attributable to the Bank
The Bank shall not be responsible for any losses or delays in thecirculation, transmission or collection of items discounted orreceived for collection, provided that they are not payable fromtheir funds and/or whenever such events occur for reasons notattributable to the Bank itself.
Clause 14: Formalisation of the credit transactions
The Bank shall be exonerated from carrying out credittransactions that are not submitted for formalisation within amaximum period of sixty days from their approval, or within aperiod of thirty days if the conditions are not indexed, unlessanother period has been expressly agreed.
Clause 15: Refusal of further disbursement of funds
The Bank may withhold further disbursements of funds to whichit is contractually bound when it demonstrates that there havebeen abnormal changes in circumstances that increase thecredit risks upon which the decision to grant the credit wasbased.
Clause 16: Credit assignment
The Bank may assign to third parties credits that it holds over itsCustomers, as well as any related collateral guarantees.
Clause 17: Venue
To judge all matters arising from this Agreement, the courts ofthe district of Lisbon, Oporto and the Customer’s domicile inPortugal are established as competent, expressly renouncing allothers.
Clause 18: Agreed Address
For the purpose of summons or notification in court proceedings,the Customer’s address that appears in the demand depositaccount linked to credits or liabilities in default that are subject tothe legal proceedings is hereby agreed.
Clause 19: Personal Data
With a view to opening an account, the allocation and use ofcredit cards, or consideration and resolution of credittransactions in which the holder is a party, the Customer herebyauthorises Banco Comercial Português to access his individualdetails from the Bank of Portugal’s Central Credit Register, aswell as information from any other credit institution or companythat specialises in credit risk.
Clause 20: Communications with the Central Credit Register of Banco de Portugal
1. Under the terms of the applicable legal provisos, the liabilitiestaken by the Customer under a credit agreement shall bereported to the Central Credit Register (CRC) of Banco dePortugal.
2. Likewise, the liabilities of the guarantor(s), if any, shall bereported to the Central Credit Register (CRC) of Banco dePortugal since the guarantors are, together with theCustomer, liable for complying with the duties arising from aloan agreement.
Mod. 10900436
07-1
6 M
A
BA
NC
O C
OM
ER
CIA
L P
OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e V
ida,
S.A
., O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os,
S.A
., M
édis
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e S
aúde
, S.A
. and
Pen
sões
gere
- S
ocie
dade
Ges
tora
de
Fun
dos
de P
ensõ
es, S
.A. I
nfor
mat
ion
and
othe
r de
tails
of t
he r
egis
trat
ion
avai
labl
e at
ww
w.is
p.pt
.
Página 20 de 30
3. Thus, should the Customer default on a loan, the Bank shallinform the guarantor(s) of such default. After the deadlinegiven to the guarantor(s) for the payment to be settled, theBank shall inform the CRC of the liabilities resulting from theguarantees or avals given pursuant to this agreement.
4. The CRC is a database managed by Banco de Portugal,using information reported by the participants (institutionsthat grant loans) on the effective or potential liabilitiesderiving from credit operations and on the related group ofservices connected with their processing and disclosure.
5. The centralization of credit liabilities consists of the monthlyaggregation, per beneficiary, of the information concerningthe credit granted by the participants and communicationsaddressed to Banco de Portugal.
6. The database managed by Banco de Portugal containsinformation with a positive and negative nature since all loansamounting to more than 50 Euros, granted by using thefinancial system are reported regardless of the fact that theyare in a compliant or default situation.
7. The Customer is entitled to make a written request to Bancode Portugal to know the respective information recorded inthe CRC.
8. Should the Customer detects errors, omissions orinformation that is not up-to-date in the records that the Bankconveyed to Banco de Portugal, the Customer must addressdirectly to the Bank a request to correct and/or update thedata.
Clause 21: Amendments
1. The Bank shall notify the Customer with a minimum of thirtydays notice of any amendments introduced to these CreditGeneral Conditions.
2. During the thirty days subsequent to their receipt, theCustomer may dissolve any agreements in force that areaffected by them on the grounds of such amendments.
F - TERM DEPOSIT ACCOUNT GENERAL CONDITIONS
Clause 1: Scope
1. The General Conditions foreseen in this Chapter are meantto regulate the Customer's access to term deposit terms andconditions.
2. To all circumstances not expressly mentioned or foreseen inthis Chapter shall apply the provisos of Chapter A, withoutdamaging the Specific Conditions applicable to each termdeposit.
3. The acceptance by the Client of these General Conditionstogether with the Specific Conditions of a contract to beestablished constitutes a Term Deposit Contract in forcebetween the parties, as per the legal and regulatoryrequirements in effect.
Clause 2: Balance
1. When an order is transmitted for the subscription or additionof funds of a Term Deposit by debiting the current account ofthe Client, the respective amount will not be deemed asunavailable in the latter before the value date for thesubscription or addition, except if otherwise is expresslyinstructed by the depositor together with the subsctiption oraddition order and the sufficiency of funds in the currentaccount for that effect.
2. For the subscription of the Term Deposit it os indispensablethat the current account indicated by the Client has sufficientfunds on the agreed value-date agreed; if the current accountdoes not have sufficient funds on the agreed date, the Bankmay refuse to make the Term Deposit.
3. A term deposit may not be renewed at the end of the term,namely if the demand deposit account of the Customer doesnot maintain a balance above the minimum required at anygiven time. In this case, the amount of the term deposit shallbe credited to the associated demand deposit account.
Clause 3: Maturity
1. The Term Deposit is demandable and reaches its maturityby the end of the agreed term.
2. At maturity, the reimbursement of the respective amount iscredited in the current account with value-date andavailability date of that same day.
Clause 4: Early withdrawal
1. The Specific Conditions of each Term Deposit establish iftotal or partial early withdrawals are allowed, or not and, ifallowed, they will describe the respective terms andconditions.
2. The penalties for early withdrawals are the ones indicated inthe respective Specific Conditions of the Term Deposit.
3. In case of early withdrawal of the Term Deposit (pursuant tothe respective Terms and Conditions) the credit of theamount withdrawn earlier in the associated current accountwill be made on the date specified in the Term DepositSpecific Conditions or, if that is not regulated therein, up tothe working day following the day the request for earlywithdrawal is received. In any case, the value-date and thedate when the funds are available fall on the date the creditis made.
Clause 5: Term deposit without early withdrawal.
Term deposits without early withdrawal can only be demanded atthe end of the term set forth when the deposit is made, withoutpossibility of withdrawal during that term.
Clause 6: Interest income
The credit of the rergular interests of the Term Deposit will bemade with value-date and availability date up to the next workingday following the last day taken into consideration for theircomputation.
Mod. 10900436
07-1
6 M
A
BA
NC
O C
OM
ER
CIA
L P
OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e V
ida,
S.A
., O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os,
S.A
., M
édis
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e S
aúde
, S.A
. and
Pen
sões
gere
- S
ocie
dade
Ges
tora
de
Fun
dos
de P
ensõ
es, S
.A. I
nfor
mat
ion
and
othe
r de
tails
of t
he r
egis
trat
ion
avai
labl
e at
ww
w.is
p.pt
.
G - PRICING
a) Securities Pricing*
The pricing applies to the most frequent transactions and is equally available at the Branch or at www.millenniumbcp.pt, as well asprices relating to other financial instruments not mentioned here.
Stock Market Operations - Euronext Lisbon Market
Comments
(1) Orders given at www.millenniumbcp.pt between the first and the last day of each month. This pricing only applies as of the dayafter the 25th order is executed.
(2) Expired, cancelled and annulled orders. Provided that an order is partially executed only once, even if the remainder lapses or isannulled, there shall be no payment of fees on unexecuted orders.
- Postage and Handling Expenses apply to all orders (whether executed or not) using the branch or telephone channels, except forAccounts that use Digital Credit/Debit Notices. Internet Channel is exempt.
- Charges on Stock Market Operations are calculated by order and by the sum of the various transactions executed in the same session.
- An order executed in different Stock Market sessions shall be considered as one order per session- Orders that are Not Automatic (negotiated) incur in a brokerage fee of:
- 0.15% of the amount of the order (²)- € 0.90 per trade generated.
- Foreign exchange operations: whenever it is necessary to carry out foreign exchange operations, for the entire amount or only forthe computation of fees, the Bank will use the internal foreign exchange rates in effect at each moment.
- Mobile SMS (No 3352), cost per transaction executed of € 0.208 plus 23% VAT. Cost of each SMS message, charged all together at the end of each month to the current Account chosen by the Client or to his/her Main Account.
Stock Market Operations - PEX Market
Comments
(1) Expired, cancelled and annulled orders. Provided that an order is partially executed only once, even if the remainder lapses or isannulled, there shall be no payment of fees on unexecuted orders.
- Charges on Stock Market Operations are calculated by order and by the sum of the various transactions executed in the same session.
- An order executed in different Stock Market sessions shall be considered as one order per session.- Postage and Handling Expenses apply to all orders (whether executed or not) using the branch or telephone channels. Internet
Channel is exempt.- Foreign exchange operations: whenever it is necessary to carry out foreign exchange operations, for the entire amount or only for
the computation of fees, the Bank will use the internal foreign exchange rates in effect at each moment.
* Securities are the financial instruments described in art. 2, paragraph 2 of the Securities Code.
Página 21 de 30
Mod. 10900436
07-1
6 M
A
BA
NC
O C
OM
ER
CIA
L P
OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e V
ida,
S.A
., O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os,
S.A
., M
édis
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e S
aúde
, S.A
. and
Pen
sões
gere
- S
ocie
dade
Ges
tora
de
Fun
dos
de P
ensõ
es, S
.A. I
nfor
mat
ion
and
othe
r de
tails
of t
he r
egis
trat
ion
avai
labl
e at
ww
w.is
p.pt
.
Name
Channel
Branch / Phone account
1. Certificates and WarrantsBanking fee
3. Orders not carried out (1)
Banking fee
Minimum0,20% 0,10%
€2,00
€8,00 Minimum €6,00
VATStamp tax
Taxation Minimum charge
Internet Account Branch/Phone
Internet/Mobile
–
€8,32 €6,24
€2,08 –
4% –
2. Funds and BondsBanking fee
Minimum0,20% 0,10%
€10,00 Minimum €6,00 €10,40 €6,244% –
4% –
4. Postage €0,40 – €0,40 –– –
5. Handling costs €1,05 – €1,29 –– 23%
Name
1. Orders on Securities issued by third partiesBanking fee – regardless of the security
Channel
Branch / Phone account
2. Orders on Securities issued by Millennium bcp2.1. Certificates and WarrantsBanking fee
2.2. Orders on other securitiesBanking fee
3. Trader Plus(1)
Banking fee – regardless of the security
Minimum< €250.000
>= €250.000
Minimum0,20% 0,10%
–
€2,00 –
€12,000,45%
0,325%
€8,00 Minimum €6,00
VATStamp tax
Taxation Minimum charge
Internet Account/Mobile Branch/Phone
Internet/Mobile
≤ €10.000
> €10.000
€8,00
0,10%
Minimum< €250.000
>= €250.000
€9,000,30%0,25%
≤ €10.000
> €10.000
€8,00
0,10%
> 25 Orders €7,00
€12,48 €8,32
€8,32 €6,24
€9,36 €8,32
– €7,28
€2,08 –
€26,00
4%
4%
–
4. Orders on the After Hours MarketBanking fee
5. Orders not carried out (2)
Banking fee – regardless of the security 6. Postage
–
4% –
€0,40 – €0,40 –– –
7. Handling costs €1,05 – €1,29 –– 23%
Minimum €250,60%
Página 22 de 30
Mod. 10900436
07-1
6 M
A
BA
NC
O C
OM
ER
CIA
L P
OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e V
ida,
S.A
., O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os,
S.A
., M
édis
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e S
aúde
, S.A
. and
Pen
sões
gere
- S
ocie
dade
Ges
tora
de
Fun
dos
de P
ensõ
es, S
.A. I
nfor
mat
ion
and
othe
r de
tails
of t
he r
egis
trat
ion
avai
labl
e at
ww
w.is
p.pt
.
Stock Market Operations - Foreign Markets
Comments* or equivalent amount(1)- For Automatic Orders, it includes local costs.- Postage and Handling Expenses apply to all orders (whether executed or not) using the branch or telephone channels, except for
Accounts that use Digital Credit/Debit Notices. Internet Channel is exempt. Postage and Handling Expenses do not apply tosecurities that are not in Euros and/or in stock exchanges outside Portugal.
- For Automatic Orders, the stock exchanges considered for the pricing of foreign securities and safes are those of the Euro Area(Germany, Austria, Belgium, Spain, Finland, France, Netherlands, Ireland, Italy), New York (NYSE), AMEX, NASDAQ, Switzerland,Denmark, Norway, Sweden, London, Japan, Hong Kong, Singapure and Australia.
- An order executed in different Stock Market sessions shall be considered as one order per session.- Orders that are Not Automatic (negotiated) incur in a brokerage fee of:
- 0.15% of the order amount (USD 0.025 per security traded for USA markets. This commission may vary depending on the market or segment where the security is traded.)
- € 0.90 per trade generated- Orders that are Not Automatic in Foreign Stock Exchanges may be subject to local costs of up to 3% of the order amount (indicative
value) in addition to the fees listed above. Depending on the markets and brokers involved, this amount, as a whole or party, maybe subject to a minimum that may surpass 3% for smaller orders. In some markets, costs may be determined by the number ofsecurities traded and not by their value, therefore the indicative 3% may be surpassed if the securities' market value is very small.
- For purchase transactions in the London and Dublin stock exchanges these costs include the UK Stamp Duty, worth 0.5% of theamount of the transaction. In the market 90 (Great Britain - London), a minimum fee of £ 25.00 will be charged to orders given atwww.millenniumbcp.pt.
- For sales transactions in the New York stock exchange these costs include the SEC fee, worth 0.00224% of the amount of thetransaction.
- Foreign exchange operations: whenever it is necessary to carry out foreign exchange operations, for the entire amount or only forthe computation of fees, the Bank will use the internal foreign exchange rates in effect at each moment.
(2)0.2% will accrue to securities subject to the rate Taxe sur les Transactions Financières (Financial Transaction Tax). It applies to the purchase or purchaser regardless of the location of the execution and/or location of the investor and/or intermediary. It applies to securities issued by companies incorporated in France (official gazette of 14 July) with market capitalisation over €1 billion as at 1 January of the relevant tax year.
Off-market Operations
Comments- Transactions involving Millennium bcp securities are subject to a 50 % reduction in banking fees.- Foreign exchange operations: whenever it is necessary to carry out foreign exchange operations, for the entire amount or only for
the computation of fees, the Bank will use the internal foreign exchange rates in effect at each moment.- The value of the operation will be computed using the highest of the separated amounts: trade value / quote value / par value. For
shares without par value, the benchmark value will be used (dividing the share capital by the number of shares issued) instead.- purchases of French securities eligible for the collection of local taxes, i.e. Taxe sur les Transactions Financières (Financial
Transaction Tax), these costs include the 0.2% charge on the transaction amount.
Name
Channel
1. Listed securities1.1. Banking fee – Shares and other Securities
1.2. Banking fee – Treasury Bonds
Minimum0,60% 0,60%
0,016% 0,016%
0,016%
Minimum €25,00
0,25%0,35%0,50%0,75%
€25,00 Minimum €25,00
Branch / Phone account
VATStamp tax
Taxation Minimum charge
Internet Account Branch/Phone Internet/Mobile
€26,00
n/a
€26,00
4%
4%
–
2. Unlisted securities2.1. Banking fee – Shares and other Securities
2.2. Banking fee – T-Bonds
Minimum0,60% 0,60%
0,016%
€15,00 Minimum €15,00 €15,60
n/a
4% –
2.3. Banking Fee - Securities not included in the CVM – Central Valores Mobiliários (Central Securities Depository)(depending on the maturities of the Security) Up to 2 years
3 to 5 years6 to 9 years
More than 10 years
–
–3. Postage €0,40 €0,40 –– –
4. Handling costs €1,05 – €1,29 –– 23%
Name
Channel
Branch / Phone account
1. Banking Fee (1) (2)1.1 General
Mínimo* €35,00 <= €10.000< €50.000
>= €50.0000,60%0,50%
€20,00
<= €10.000 €15,00
<= €10.000 €20,00
> €10.000 0,20%
> €10.000 0,15%
> €10.000 0,25%
VATStamp tax
Taxation Minimum charge
Internet Account Branch/Phone
Internet/Mobile
€36,40
€20,80
€20,80
Mínimo* €35,00< €50.000
>= €50.0000,60%0,50%
Mínimo* €35,00< €50.000
>= €50.0000,60%0,50%
€15,604% –
2. Postage €0,40 – €0,40 –– –
3. Handling costs €1,05 – €1,29 –– 23%
1.2 Amsterdam and Brussels
1.3 Paris Stock Exchange
Página 23 de 30
Mod. 10900436
07-1
6 M
A
BA
NC
O C
OM
ER
CIA
L P
OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e V
ida,
S.A
., O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os,
S.A
., M
édis
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e S
aúde
, S.A
. and
Pen
sões
gere
- S
ocie
dade
Ges
tora
de
Fun
dos
de P
ensõ
es, S
.A. I
nfor
mat
ion
and
othe
r de
tails
of t
he r
egis
trat
ion
avai
labl
e at
ww
w.is
p.pt
.
Transfer of Securities
Comments* When a change in ownership occurs, the Off-Market Operations Pricing applies. The 50% reduction in transactions on Millennium
bcp securities does not apply. Exception is made for domestic transfers wherein the origin/destination account is a Mutual Guarantee Society, case when thebanking fee to apply to the origin/destination account will be €1 per order.
** An Order is a transfer request made by a Customer on the same day, regardless of the quantity of different securities to betransferred.
- In Internal Transfers, without change of ownership, Millennium bcp's securities are subject to a 50% reduction in bank fees.- Foreign exchange operations: whenever it is necessary to carry out foreign exchange operations, for the entire amount or only for
the computation of fees, the Bank will use the internal foreign exchange rates in effect at each moment.- The value of the operation will be computed using the highest of the separated amounts: trade value / quote value / par value. For
shares without par value, the benchmark value will be used (dividing the share capital by the number of shares issued) instead.
Corporate Actions - Subscription of securities
Comments(1) - Corresponds to the amounts listed in Market Operations - Euronext Market Lisbon.(2) - Corresponds to the values expressed in Market Operations - PEX Market or Market Operations - Foreign Markets. * The banking fee cannot surpass 20% of the subscription amount and/or the face value of the subscribed securities. - Mergers, Demergers and Capital decreases are subject to the pricing for subscriptions by incorporation of reserves, this fee being
computed based on the face value of the securities to be received.- Millennium bcp's securities are subject to a 50% reduction in bank fees.- Foreign exchange operations: whenever it is necessary to carry out foreign exchange operations, for the entire amount or only for
the computation of fees, the Bank will use the internal foreign exchange rates in effect at each moment.
Name
Channel
– – – –
Branch / Phone / Internet Account VATStamp
tax
Taxation Minimum charge
Branch/Phone/Internet
<= 100 €7,50 €9,23 > 100 <= 1.000 €25,00 €30,75 > 1.000 <= 5.000 €75,00 €92,75 > 5.000 <= 10.000 €150,00 €184,50 > 10.000 <= 50.000 €250,00 €307,50 > 50.000 <= 100.000 €425,00 €522,75 > 100.000 <= 500.000 €750,00 €922,50 > 500.000 €2.000,00 €2.460,00
–
1. Transfer from another Financial Institution (OIF) *
1.1. Securities included in the CVM (Central Securities Depository)1.2. Securities not included in the CVMBanking Fee - Units per security
€25,00 – 23% €30,75
€7,50 – 23% €9,23
€7,50 – 23% €9,23
2. Transfers to OIF *
2.1. Securities included in the CVMBanking fee per order **2.2. Securities not included in the CVMBanking fee per order **
3. Internal Transfer *Banking fee per order **
23%
Name
Channel
Branch / Phone / Internet Account
1. Public Offerings (Sale, Exchange, Subscription, Takeover)Banking fee – on the amount of the issue (1) (2)
VATStamp
tax
Taxation Minimum charge
Branch / Phone / Internet Account
Securities not included in the CVM
Securities not included in
the CVMSecurities included
in the CVM
Securities included in
the CVM
Branch/Phone/Internet
€12,48 €9,364% –2. Subscription by Preference Reserve *Banking fee – on the amount of the issue
Minimum0,25% 0,30%
€3,75 Minimum €5,00 €3,90 €5,204% –
3. Subscription by Incorporation of Reserves *Banking fee – on the amount of the issue
Minimum0,25% 0,25%
€3,75 Minimum €5,00 €3,90 €5,204% –
4. Postage €0,40 €0,40 €0,40– –5. Handling costs €1,05 €1,05 €1,29
€0,40€1,29– 23%
Página 24 de 30
Mod. 10900436
07-1
6 M
A
BA
NC
O C
OM
ER
CIA
L P
OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e V
ida,
S.A
., O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os,
S.A
., M
édis
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e S
aúde
, S.A
. and
Pen
sões
gere
- S
ocie
dade
Ges
tora
de
Fun
dos
de P
ensõ
es, S
.A. I
nfor
mat
ion
and
othe
r de
tails
of t
he r
egis
trat
ion
avai
labl
e at
ww
w.is
p.pt
.
Securities Custody Services
Comments- The Custody of Securities fee is charged on each Demand Deposit Account that aggregates securities accounts in existence on
the last day of each quarter, taking into consideration the total of securities. The fee is charged in full, regardless of time elapsedsince the securities were placed under custody.
- Securities deposited in foreign securities depositories (Bank of New York, Mellon, Euroclear, Goldman Sachs) are subject to thefee for Securities not included in the CVM.
- Foreign exchange operations: whenever it is necessary to carry out foreign exchange operations, for the entire amount or only forthe computation of fees, the Bank will use the internal foreign exchange rates in effect at each moment.
Payment of Refunds and Returns - Domestic and Foreign Securities
Comments(a) – The payment of yield regards bond interests, share dividends or income from any type of security, for instance - payment of
income from participation units in Investment Funds.(b) – The Bank will only pay income on securities for which it was named Paying Agent. When it has not been named Paying Agent,
Clients must go to the appointed Financial Institution.* With Receipt – When the Client presents the actual securities in paper together with the Receipt for payment of the yield.** Without Receipt – When the Client presents the actual securities in paper without the Receipt for payment of the yield.- The minimum fee and the handling expenses charged cannot surpass 50% of the yield to be paid to the Clients. When the yield
paid to the Clients is less than 7.5 Euros (domestic securities) or 25 Euros (foreign securities), the Bank will not send a letter tothe Client and therefore will not charge handling expenses.
- The payment of returns and reimbursement on Millennium bcp securities are subject to a 50% reduction in banking fee. - The payment of dividends on Millennium bcp securities is exempt if the number of shares in the portfolio is 5000 or less.- Foreign exchange operations: whenever it is necessary to carry out foreign exchange operations, for the entire amount or only for
the computation of fees, the Bank will use the internal foreign exchange rates in effect at each moment.
- Securities issued by Millennium bcp- Participation Units - Investment Funds managed by Millennium bcp Gestão de Ativos SA- Portfolio Management Account- Securities classified as exempt- Shares from sports companies (SAD - Sociedades Anónimas Desportivas)- Medium- and Long-term Treasury Bonds
Name
Channel
€9,00 €7,50 – 23%
– –
€11,07
Branch / Phone account Internet Account VATStamp
tax
Taxation Minimum charge
Branch/Phone Internet
<= 100 €10,00 <= 100 €12,50 >100 <= 10.000 €25,00 >10.000 <= 100,000 €50,00
>100 <= 10.000 €20,00 >10.000 €30,00
>100.000 €100,00 –
€15,38€30,75€61,50
€123,00 –
€0,40 – €0,40 –
€9,23
€12,30€24,60€36,90
–
1. 1. Securities included in the CVMSingle quarterly fee2. Securities not included in the CVMSingle quarterly fee
3. Exemptions from Custodian Fees
4. Postage
– 23%€1,05 – €1,29 –5. Handling costs
23%
Name
Channel
Branch / Phone / Internet AccountVATStamp
tax
Taxation Minimum charge
Branch/Phone/Internet AccountRefundsRefunds ReturnsReturns
2,400%0,350%
Minimum €1,25 Minimum €2,50
Minimum €1,25 Minimum €2,50
€1,25€2,503,000%0,500%
n/a
€3,08€3,08
n/a n/a
n/a
€1,54€1,54
–
1. Securities included in the CVM1.1. Deposited Securities1.1.1. Banking fee1.2. Securities that are not deposited (b)
1.2.1. Banking fee - with Receipt *1.2.2. Banking fee - without Receipt *
23%
– 23%– 23%– 23%
2,500%0,300%
€1,25€2,503,000%0,500%
n/a
€3,08€3,08
n/a n/a
n/a
€1,54€1,54
–
2. Domestic securities not included in the CVM2.1. Deposited Securities2.1.1. Banking fee2.2. Securities that are not deposited (b)
2.2.1. Banking fee - with Receipt *2.2.2. Banking fee - without Receipt *
23%
– 23%– 23%– 23%
– –€0,40 €0,40
3. Securities included in foreign Central Securities Depositories
4. Postage
– 23%€1,05 €1,295. Handling costs
2,500%0,300% n/a n/a– 23%
Página 25 de 30
Mod. 10900436
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O C
OM
ER
CIA
L P
OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e V
ida,
S.A
., O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os,
S.A
., M
édis
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e S
aúde
, S.A
. and
Pen
sões
gere
- S
ocie
dade
Ges
tora
de
Fun
dos
de P
ensõ
es, S
.A. I
nfor
mat
ion
and
othe
r de
tails
of t
he r
egis
trat
ion
avai
labl
e at
ww
w.is
p.pt
.
Withdrawal of Securities
Comments- Securities of bankrupt companies are exempt from withdrawal fees.- Interbolsa expenses for between 500,000 and 1,000,000 units are charged manually.- Millennium bcp securities are subject to a 50% reduction in banking fees.- Foreign exchange operations: whenever it is necessary to carry out foreign exchange operations, for the entire amount or only for
the computation of fees, the Bank will use the internal foreign exchange rates in effect at each moment.
Certificates
Name
Channel
€7,50 – 23% €9,23
€7,50 – 23% €9,23
Branch / Phone / Internet Account VATStamp
tax
Taxation Minimum charge
Branch / Phone/Internet
1. SECURITIES IN PORTUGUESE SECURITIES DEPOSITORIES
1.1 Securities included in the CVM
Fee – for each security
1.1.2.1. Fixed price for each withdrawal
1.1.2 Interbolsa expensesBanking Fee - Units per security
– 23%
€9,23 <= 100 €5,00€33,83 > 100 <= 1.000 €25,00€95,33 > 1.000 <= 5.000 €75,00€187,58 > 5.000 <=10.000 €150,00€310,58 > 10.000 <= 50.000 €250,00€525,83 > 50.000 <= 100.000 €425,00€925,58 > 100.000 <= 500.000 €750,00
€2.463,08 > 500.000 €2.000,00Plus € 2.5 for each security
1.1.2.2. Specific withdrawal The price is three times that of a normal withdrawal1.2. Securities not included in the CVM
Fee – for each security
Name
Channel
€7,50 – 23% €9,23
€15,00 – 23% €18,45
Branch / Phone / Internet Account VATStamp
tax
Taxation Minimum charge
Branch/PhoneInternet
1. General Certificates
2. Certificates for the General Meetings of Millennium bcp Companies
Exempt – – –
€0,40 – – €0,40€1,05 – 23% €1,29
3. General Certificates requested by Millennium bcp Companies
4. Postage
5. Handling costs
Página 26 de 30
Mod. 10900436
07-1
6 M
A
BA
NC
O C
OM
ER
CIA
L P
OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e V
ida,
S.A
., O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os,
S.A
., M
édis
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e S
aúde
, S.A
. and
Pen
sões
gere
- S
ocie
dade
Ges
tora
de
Fun
dos
de P
ensõ
es, S
.A. I
nfor
mat
ion
and
othe
r de
tails
of t
he r
egis
trat
ion
avai
labl
e at
ww
w.is
p.pt
.
b) Means of payment – Pricing
TRANSFERS (Private)
1. Transfer orders
1. Internal / Domestic Transfers - Ordered in Euros
1.1 To an account of the same credit institution
- With the same transferor and beneficiaryOne-off or future date
1.2 - To an account with another credit institution
- Standard
- Urgent
Plus Tax
With NIB (bank identification number)
With NIB (bank identification number)
Without NIB (bank identification number)
Without NIB (bank identification number) Any amountAny amount
Any amount
Plus € 19.00, in addition to the order pricingPlus 4% Stamp Tax
Plus € 19.00, in addition to the order pricing
€ 31,25 n/a n/a
n/a n/an/a n/an/a n/an/a n/an/a n/an/a n/a
Free FreeFree Free
Free Free
FreeFreeFreeFreeFree
€ 1,70€ 1,00
€ 1,70€ 1,00
€ 1,70€ 1,00
€ 0,35€ 0,30
FreeFree
€ 1,70€ 1,00
€ 5,75 € 1,45 € 1,45€ 5,75
€ 22,50 € 19,50 € 19,50€ 22,50€ 6,70 € 1,45 € 1,45€ 6,70€ 5,20 € 1,00 € 1,00€ 5,20€ 4,70 € 0,75 € 0,75€ 4,70
€ 22,50 € 19,50 € 19,50€ 22,50€ 7,00 € 1,70 € 1,70€ 7,00
€ 5,30 € 1,00 € 1,00€ 5,30
Free
n/a n/a
n/a n/a
n/a n/an/a n/a
100,000 Euros or moreFrom 50,000.01 Euros to 99,999.99 Euros
From 1,000.01 Euros to 50,000 EurosUp to 1,000 Euros
100,000 Euros or moreFrom 50,000.01 Euros to 99,999.99 Euros
From 1,000.01 Euros to 50,000 EurosUp to 1,000 Euros
Any amount
Any amount
One-off or future date
Permanent
One-off or future date and permanent
Permanent- With different transferor and beneficiary
One-off or future datePermanent
Other conditionsTransfer amounts
Phone
Bra
nch
With
op
erat
or
With
out
oper
ator
Inte
rnet
ATM
Mill
enni
um
bcp
inte
rnal
S
elf B
anki
ng
ATM
Channel for receiving transfer orders
Página 27 de 30
Mod. 10900436
07-1
6 M
A
BA
NC
O C
OM
ER
CIA
L P
OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e V
ida,
S.A
., O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os,
S.A
., M
édis
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e S
aúde
, S.A
. and
Pen
sões
gere
- S
ocie
dade
Ges
tora
de
Fun
dos
de P
ensõ
es, S
.A. I
nfor
mat
ion
and
othe
r de
tails
of t
he r
egis
trat
ion
avai
labl
e at
ww
w.is
p.pt
.
Note (4)
Note (6)
Note (6)
Any amount
Any amount
Any amount- With the same transferor and beneficiary
- Orders Issued
Any amountWith BIC
Plus €25.00, in addition to the order pricingWith or without BIC and IBAN, by account debit
- Urgent
Other condi-tionsInternetPhone with OperatorBranch
Channel for receiving transfer ordersTransfer amounts
2. Cross-border / International transfers
2.1 Into a foreign account
2.1.1. - SEPA Countries and Currencies within the scope of Regulation (EC) no. 924/2009 (Euro, Swedish Krona and Romanian Leu)
2.1.2. - Non-SEPA Countries or Currencies not encompassed by Regulation (EC) no. 924/2009
3. Internal / Domestic and Cross-border / International Transfers
3.1 Priority Payments
3.2 Transfers in Multi-Currency or Foreign Currency Accounts
3.2.1 To an account of the same Credit Institution
3.2.2 To an account of another Domestic Credit Institution
- Currencies within the scope of Regulation (EC) no. 924/2009 (Euro, Swedish Krona and Romanian Leu)
- Currencies not encompassed by Regulation (EC) no. 924/2009
2.2 To Banks of Group Banco Comercial Português, outside Portugal (Note 5)
- Standard- Providing BIC and IBAN
€ 5,75 € 1,45€ 5,75
€ 22,50 € 19,50n/a n/a Note (1)
n/a n/a
n/a
€ 19,23€ 19,23100,000 Euros or moreProviding BIC and IBAN € 9,62
€ 9,62
Free€ 1,68€ 1,68Any amount- With different transferor and beneficiary
- With different transferor and beneficiary
Free€ 1,68€ 1,68
Any amount € 1,30€ 1,68€ 1,68- With different transferor and beneficiary Any amount
The conditions listed in 2.1 applyPlus Tax Plus 4% Stamp Tax
€ 1,30€ 1,68€ 1,68
n/a
Note (1)
Note (2)
Note (3)
Note (3)
€ 22,50€ 24,0
€ 31,25
€ 31,25
€ 6,70 € 1,45€ 6,70€ 5,20 € 1,00€ 5,20€ 4,70 € 0,75€ 4,70
€ 22,50 € 19,50€ 22,50€ 7,00 € 1,70€ 7,00
€ 5,30 € 1,00€ 5,30
100,000 Euros or moreAny amount
Any amount
Any amount
Any amountProviding BIC and IBAN, by account debitWithout BIC and IBAN, by account debit
- SEPA Countries and Currencies within the scope of Regulation (EC) no. 924/2009 (Euro, Swedish Krona and Romanian Leu)
- Non-SEPA Countries or Currencies not encompassed by Regulation (EC) no. 924/2009
- Standard
Providing BIC and IBAN, by account debit
Providing BIC and IBAN, at the cashier
Without BIC and IBAN, by account debit or at the cashier
Plus € 19.00, in addition to the order pricingPlus € 19.00, in addition to the order pricingAny amount
Any amount
Any amount
Any amount 0.30% with minimum of €57,69 and maximum of € 173,08
0.25% with minimum of € 24.04 and maximum
of € 120.19
0.25% with minimum of € 24.04 and maximum
of € 120.19
0.30% with minimum of € 43,27 and maximum
of € 144,23
0.30% with minimum of € 43,27 and maximum
of € 144,23
0.25% with minimum of € 36,06 and maximum
of € 120,19
0.25% with minimum of € 24.04 and maximum
of € 120.19
0.25% with minimum of € 48,8 and maximum
of € 144,23
0.25% with minimum of € 24.04 and maximum
of € 120.19
0.20% with minimum of € 19,23 and maximum
of € 105,77
One-off, Future Date and Permanent, by debit from the account
One-off or future date, at the cashier
One-off or future date, at the cashier- Without BIC and IBAN
- Urgent
From 50,000.01 Euros to 99,999.99 EurosFrom 1,000.01 Euros to 50,000 Euros
Up to 1,000 Euros100,000 Euros or more
From 50,000.01 Euros to 99,999.99 EurosFrom 1,000.01 Euros to 50,000 Euros
Up to 1,000 Euros
One-off or Future Date, by account debit
Permanent, by account debit
Página 28 de 30
Mod. 10900436
07-1
6 M
A
BA
NC
O C
OM
ER
CIA
L P
OR
TU
GU
ÊS
, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
red
offic
e at
Pra
ça D
. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
88 E
uros
, re
gist
ered
at
the
Com
pany
Reg
istr
atio
n O
ffice
of
Opo
rto,
with
the
uni
que
regi
stra
tion
and
tax
iden
tific
atio
n nu
mbe
r 50
1 52
5 88
2. T
el.:
+35
1707
5024
24.
Site
: w
ww
.mill
enni
umbc
p.pt
. C
redi
t In
stitu
tion
regi
ster
ed o
n th
e B
ank
of
Por
tuga
l spe
cial
reg
iste
r un
der
no.
33.
Fin
anci
al I
nter
med
iary
reg
iste
red
on t
he P
ortu
gues
e S
ecur
ities
Mar
ket
unde
r no
. 10
5.T
ied
Insu
ranc
e In
term
edia
ry n
o. 2
0707
4605
- R
egis
trat
ion
Dat
e: 2
6/06
/200
7. A
utho
risat
ion
for
inte
rmed
iatio
n of
Life
and
Non
-life
insu
ranc
e fr
om O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e V
ida,
S.A
., O
cide
ntal
- C
ompa
nhia
Por
tugu
esa
de S
egur
os,
S.A
., M
édis
- C
ompa
nhia
Por
tugu
esa
de S
egur
os d
e S
aúde
, S.A
. and
Pen
sões
gere
- S
ocie
dade
Ges
tora
de
Fun
dos
de P
ensõ
es, S
.A. I
nfor
mat
ion
and
othe
r de
tails
of t
he r
egis
trat
ion
avai
labl
e at
ww
w.is
p.pt
.
Note (7)Stamp - 4%Stamp - 4%Stamp - 4%Stamp - 4%Stamp - 4%Stamp - 4%Stamp - 4%Stamp - 4%Stamp - 4%
€ 15,00€ 25,00€ 50,00€ 75,00€ 25,00€ 25,00€ 50,00€ 25,00
Note (8)
Expenses paid by the Client--
Other conditions
Plus TaxFees
Euros (Min/Max)
Internal/Domestic and Cross-border/International Transfers
1. Supplementary Pricing
2. Telecommunications
Transfers
- Orders issued
Fee for Expenses incurred by the Transferor - OUR---------
-
%
-
- Stamp - 4%
VAT 23%
€ 24,04
€ 10,00
- Orders Received
Clarification, alteration and return requests (per transfer)
Request to annul/cancel/return an order - not yet issued by the Bank, still in the back officeRequest to annul/cancel/return a transfer, already processed, but before reaching the value dateRequest to return a transfer after it reached the value date in another Credit Institution.Request to return a transfer already credited to an account of the same credit institution.Return of transfer due to wrong NIB/IBANRequest to alter the transfer - data of the beneficiary or operation detailsRequest for clarification regarding a transfer
Stamp - 4%€ 25,00-Request to confirm the execution of a transfer
Expenses debited by correspondent institutions
Telecommunications (automated swift)
Other condi-tions
Plus TaxEuros (Min/Max)%
Fees
4. Internal / Domestic Transfers - Received
4.1 From an account of the same Credit Institution
4.2 From an account of another Credit Institution
5. Cross-border / International Transfers - Received
- From a foreign account
5.1 SEPA Countries and Currencies within the scope of Regulation (EC) no. 924/2009 (Euro, Swedish Krona and Romanian Leu)
5.2 Non-SEPA Countries and Currencies not encompassed by Regulation (EC) no. 924/2009
6. Transfers via STR (fast transfer service)
- to be credited to the account
- Orders Received7. Priority Payments
7.1 Orders received
Up to 50,000 Euros
- to be credited to the account
Free n/a-
Free n/a-
Free n/a-Free n/a-
Any amountEmigrants' remittances
Other TransfersProviding BIC and IBAN, by credit to the account
€ 2,40 Stamp - 4%-€ 17,50 Stamp - 4%-
Any amount Emigrants' remittancesOther Transfers
Without BIC and IBAN, by credit to the account
€ 2,40 Stamp - 4%-€ 28,85 Stamp - 4%-
Any amount Emigrants' remittancesOther Transfers
Without BIC and IBAN, at the cashier
Above 50,000 Euros
Free n/a-€ 19,23 Stamp - 4%-
Any amount Emigrants' remittancesOther Transfers
Without BIC and IBAN, by credit to the account
€ 2,40 Stamp - 4%-€ 28,85 Stamp - 4%-
Any amount
€ 1,68 Stamp - 4%-
Free n/a-€ 19,23 Stamp - 4%-
Any amount
Emigrants' remittancesOther Transfers
Without BIC and IBAN, at the cashier
2. Other services with transfers
Página 29 de 30
Key SEPA - Single Euro Payments Area. It includes the 27 countries of the European Union and overseas Europeanterritories - French Guiana, Gibraltar, Guadeloupe, Martinique, Mayotte, Réunion, Saint Barthélemy, Saint Martinand Saint Pierre et Miquelon – as well as Iceland, Liechtenstein, Norway, Switzerland, Monaco and San Marino.
Regulation (EC) no. 924/2009 - It includes payment operations in the 28 countries of the European Union andoverseas European territories - French Guiana, Gibraltar, Guadeloupe, Martinique, Mayotte, Réunion, SaintBarthélemy, Saint Martin and Saint Pierre et Miquelon – as well as Iceland, Liechtenstein and Norway, carried outin Euros and in Swedish Kronor and Romanian Lei.
EU countries: Germany, Austria, Belgium, Cyprus, Denmark, Slovakia, Slovenia, Spain, Estonia, Finland, France,Greece, Netherlands, Hungary, Italy, Ireland, Latvia, Lithuania, Luxembourg, Malta, Poland, Portugal, UnitedKingdom, Czech Republic, Sweden, Bulgaria, Romania and Croatia.
NIB – Portuguese bank identification number / SWIFT BIC - Bank Identifier Code / IBAN - International BankAccount Number
General Notes SEPA transfers are transfers made in Euros for SEPA countries, stating the beneficiary's IBAN and SHA expenses(divided between the transferor and the beneficiary);
The Customer is responsible for providing all the data required to correctly process the payment orders;
If the IBAN is incorrect, the Customer shall bear a posteriori all the additional costs charged for the sametransaction without BIC or IBAN;
Operations made through the Phone, Internet and SelfBanking Devices (ATMs and Internal Network ATMs) have,for security reasons, maximum daily amounts, which may be lower than the amounts in the pricing table.Transfers received through the STR (fast transfer service), in currencies other than Euros, shall be subject to theforeign exchange rates corresponding to the STR table.STR table, based on the Euro foreign exchange reference rates plus 0.5%.
The Euro foreign exchange reference rates can be checked daily at www.ecb.int/stats/exchange/eurofxref/html/index.en.html
The Priority Payments scheme allows customers to order and receive transfers exclusively in Euros, betweenSEPA banks that are part of the scheme, and the funds are made available to the beneficiary within only 4 hours.The transferor's instructions must be given to the Bank until 12:00 CET (Central European Time) to be credited until 16:00 CET (Central European Time).
16% VAT rate in the Autonomous Region of Azores and 22% in the Autonomous Region of Madeira.
Nota (1) - This fee incurs additional charges for communications (vide item 2. Telecommunications under Other serviceswith transfers).
Note (2) - To be credited on the same day, subject to verifying the possibility of executing the operation.
Note (3) - This fee incurs additional charges for communications (vide item 2. Telecommunications under Other serviceswith transfers). - USD transfers to the United States of America only require the BIC/SWIFT or Fedwire.- GBP transfers to the United Kingdom only require the BIC/SWIFT+IBAN or BIC/SWIFT+Sort Code.
Note (4) - To be credited on the same day or next business day, subject to verifying the possibility of executing the operation.
Note (5) - When outside the conditions bellow, the standard pricing provided in item 2.1 shall apply.
Note (6) - Exempt of Telecommunications charges.
Note (7) - Expenses payable by the transferor to the Correspondent Bank, these are applied at the moment of the transferwith the fixed amount attributed, except for transfers in USD to USA banks and in JPY.In these cases, the expenses are charged only after and the amount will be specified by the banks that intervenedin the operation.
Note (8) - Includes payments of the social security rate Taxa Social Única (TSU).
Note (9) - Corresponds to 3 minutes of telex communications. Only used in exceptional situations (e.g. payment orders forbanks with which Millennium bcp has not exchanged a swift code).
Mod. 10900436
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c) Other fees
Withdrawall slip
Fees
– € 4,50
TaxEuros (Min/Max)%
OtherConditions
Tax stamp - 4% Note (1)
Note (1) Free for illiterate and blind Customers
Página 30 de 30
Mod. 10900436
07-1
6 M
A
BA
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OM
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L P
OR
TU
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, S
.A.
Pub
lic C
ompa
ny,
with
reg
iste
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offic
e at
Pra
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. Jo
ão I
, 28
, O
port
o, w
ith S
hare
Cap
ital o
f 4.
094.
235.
361,
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, re
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Com
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Reg
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n O
ffice
of
Opo
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the
uni
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and
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iden
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5 88
2. T
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24.
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ww
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. C
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Costumer Signature(s)
Costumer Signature(s) Costumer Signature(s)
Verification of the SignaturesWe verified the identication data against the document(s) presented
Signature of the Bank’s authorized signatories)
Costumer Signature(s)
DATE
A A A A M M D D
I(we) took cognisance and hereby declare that I(we) accept and underwrite all clauses of the
A - Demand Deposit Account General ConditionsB - Provision of Payment Services General ConditionsC - Account Registration and Deposit General Conditions For Financial Instruments and Financial Intermediation
- Attachment I – Processing of Customer Orders and Order Execution Policy- Attachment II – Investing Advice Regarding Securities and Other Financial Instruments- Attachment III – Information on Risks
D - General Conditions for the Use of Remote Communications Channels- Annex – Risks and safety rules
E - Credit General ConditionsF - Term Deposit Account General ConditionsG - Pricing
of Banco Comercial Português S.A., a company open to public investment, in a total of 30 pages, including this one, a copy of whichwas previously provided to me.
N.º de Conta D.O.