Special Conditions for Joint Accounts:

1. Joint Accounts are opened for any natural person(s) (of legal age), and the account is jointly owned by more than one person. And no Joint Accounts are opened for minors.

2. Signature Authority for joint accounts is set in accordance to the joint owners’ agreement as indicated in the account opening application (whether jointly or severally).

3. Amendment to Joint Accounts requests the approval of all (joint owners), unless the amendment was to change signature (specimen signature) of one of the owners.

4. No joint accounts will be opened in the event of having one of the partners name listed on the blacklists.

5. The balance of the joint account is owned equally by the joint owners of the account unless otherwise agreed on in writing.

6. All the parties (owners of a joint account) are jointly and severally responsible to settle the debt balance of the account and any facilities granted thereto, whether as a result of a current account overdrawn, or an overdraft account, or discounted promissory notes, letters of credit, guarantees, or any other facilities they are committed to pay.

7. In the event of the death of one of the joint account owners, the account shall be suspended, and the balance shall be equally divided between the partner, the share of the deceased party shall be withheld as being due for his legal heirs, and the account shall be disposed of in accordance with the applicable laws and regulations, and the share/shares of the other parties shall be transferred to their accounts. The Bank will not be responsible for any loss resulting from transactions or withdrawals done on the account, in the event of not notifying the Bank in writing accompanied with legal documents of the insolvency and or bankruptcy and or the death of any of the owners of the joint account.

8. All joint account owners bear the responsibility in the event of not notifying the Bank upon the death of any of the owners and/or for the resulting negligence, and they release the Bank from any responsibility for the withdrawals done after the death of one of the owners and before the Bank was notified.

9. Amounts deposited or credited in the account belongs to all the joint owners, and all withdrawn or disposed amounts through cheques, payment orders or any other banking transaction must be signed by the authorized signatory/signatories of the account.

10. Joint Accounts may be closed upon the request of any of the partners (owners) unless the owners agree otherwise.

11. The owners of the joint  account  understand that drawing  a cheque from this account with no sufficient   balance and the return thereof for whatever reason will result in the drawer’s liability of the crime  of issuing an uncovered cheque  as per the provision of Article 421 of the penal code or any of its future amendments, and the Bank will not be held responsible for any penal complaint submitted against the joint owners , notwithstanding the decision of the criminal court, whether convicted, innocent, or non-liable, whether the joint owners  actually signed on the cheque or not, and the joint owners are civilly liable for any cheque drawn on the account even if the cheque was not signed by them  or  they were not authorized to sign. If a cheque was returned the Bank will report the names of all the parties of the joint account as per the instructions of the Central Bank of Jordan /returned checks Unit, and their names will appear on the blacklist

12. The joint account balance shall not be blocked or used as cash collateral in guarantee for obtaining facilities to any of the account owners (loans or credit cards or overdraft or any other facility either direct or indirect) except with the approval of all the parties to the joint account regardless of signature authorization on the account.

13. In the event of an administrative or judicial attachment on any of the parties of a joint account, the following will apply:

A. Closing of the Account.

B.Opening individual accounts in the name of the parties and the parties shall authorize the Bank to open such accounts without the need to acquire the signatures thereof, and all the terms and conditions herein shall apply to such accounts. The partners understand that signing on the joint account application is considered as authorization to the Bank to open individual accounts in the name of the parties in case of an attachment was made on any of the parties account.

C.The share of the partner shall be seized, and the remaining balance shall be divided amongst the other account partners.

D.The Bank has the right to return any cheque submitted thereto after the issuance of the attachment even if the same was not signed by the person subject to the attachment, and the date thereof was prior or subsequent to the date of the attachment.

E.In the event monies are credited to the joint account after the submission of the attachment, the same shall be divided amongst the individual accounts including the account of the person subject to attachment.

F.This clause shall also apply if any partner is willing to close or withdraw from the account or his death.

G.The Bank has the right to settle and offset any amounts requested from any of the partners from his share in the joint account.

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