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STATE BANK OF INDIA, SYDNEY BRANCH

(Incorporated in India with limited liability to our company's members) ARBN 082 610 008 AFSL 238340

Suite 2 & 3, Level 12 234 George Street Sydney, NSW 2000 Tel: 02-9241-5643

Terms and Conditions

International Money Transfers (IMTs) are electronic payments of cleared funds that are credited directly to a nominated bank account almost anywhere in the world. They are a fast and reliable way of making international payments.

We recommend that you read all terms provided in this document relating to IMTs and that you ask us about any issues that concern you.

1.

Use of a Correspondent

State Bank of India Sydney (SBIS) may use the services of another bank ('the Correspondent Bank') or agency ('the Correspondent Agency') or another branch of State Bank of India (SBI) to give effect to the instructions of the Applicant.

A Correspondent bank or Correspondent Agency or a SBI branch overseas may charge additional fees or charges and either:

a.deduct those fees or charges from the funds

transferred to the beneficiary by the Applicant, so that the beneficiary may receive less than the amount sent by the Applicant;

or

    • b.

      pay the funds transferred by the Applicant to the beneficiary by debit to SBIS account held at the Correspondent Bank or Correspondent Agency or SBI branch, with those fees and charges. The Applicant must then reimburse SBIS for those fees and charges debited to SBIS account by the Correspondent Bank or Correspondent Agency or SBI branch.

  • 2.

    SBIS fees and charges

SBIS fees and charges are as follows:

Providing the TT service

$15.00

Cancelling the TT after it has been requested (in addition to the fee for initially providing the service)

$30.00 plus any out of pocket expenses incurred by SBIS

Making amendments to original payment details (in addition to the fee for initially providing the service)

$30.00 plus any out of pocket expenses incurred by SBIS

Making enquiries regarding a payment to the beneficiary (for example querying the non receipt of funds)

$30.00

Return of the payment by the Correspondent (in addition to the fee for initially providing the service)

$30.00 plus any out of pocket expenses incurred by SBIS

All SBIS fees are denominated in Australian dollars.

These fees do not include any fees and charges that a Correspondent Bank, Correspondent Agency or SBI branch may charge.

3. Delayed Payment

The transfer of funds will normally be received within 48 hours by the branch of SBI / Correspondent Banks (The Expected Time). If the branch / Correspondent is not the beneficiary's branch / bank, it may take additional time to on forward funds to the beneficiary's branch / bank. Further delay may occur in cases if the beneficiary's branch / bank is not a branch of SBI.

The transfer of funds may be delayed past the Expected Time due to circumstances beyond SBIS' control (which include but are not limited to) cut off times for transmissions imposed by cut off time imposed by the Correspondent Bank, Correspondent Agency or SBI branch; delays or complications in post or

Revised 19/04/2007

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