Terms and Conditions governing the use of S-Net Business

Please read and accept the conditions of use in order to activate your accesss to S-Net Business. Please note that you can access these terms and conditions of use at any time at www.spuerkeess.lu.

1. Description

1.1. The Banque et Caisse d'Epargne de l'Etat, Luxembourg (hereafter referred to as "Spuerkeess") provides its business customers (hereafter referred to as the "Customer(s)") with a dedicated area (hereafter referred to as "S-Net Business") through which each of the authorised users can access a number of telematic banking services on behalf of the Customer. To this end, the Customer, represented by one of its Administrators, must sign an "S-Net Business Agreement".

1.2. The available and accessible services and information, the software provided and the technical characteristics of S-Net Business constitute the system (hereafter referred to as the "System"), and are defined in the System itself.

1.3. "Business Entity" means the Customer within S-Net Business in his capacity as a legal entity or as a natural person holding eligible accounts or products for his business activity.

1.4. "Administrator" means any natural person declared to Spuerkeess as a statutory signatory on behalf of a legal entity, or any natural person holding business products.

1.5. "User(s)" means the natural person(s) defined and mandated by the Customer, which is/are user(s) of S-Net Business, regardless of the rights and roles assigned to him/them.

1.6. The accounts to be used within the framework of the "S-Net Business Agreement" remain governed by Spuerkeess' General Terms and Conditions and Spuerkeess' General Terms and Conditions concerning Financial Instruments insofar as said conditions do not conflict with the present Terms and Conditions.

2. Terms of access and use

2.1. To access S-Net Business, each User shall conclude his personal S-Net Agreement and must have his own identification and security items.

2.2. With regard to Spuerkeess, the Customer shall remain fully liable for any transactions carried out by (a) User(s) while using S-Net Business as a result of the authorisations that may have been granted to him/them through a mandate and by application of the general rules governing the mandate, or as a result of the authorisations granted via the "Rights Management" section in S-Net Business.

2.3. S-Net Business may not be used by an attorney or a signatory in the event of any limitations to the mandate on the account in question.

3. Users and rights

3.1. The Administrator(s) determine(s) the User(s), his/their rights, and the product(s) for which he/they may exercise these rights in the "Rights Management" section.

3.2. The rights granted by the Customer's Administrator(s) to (a) S-Net Business User(s) for the management of banking products via the "Rights Management" section shall be considered as a power of attorney.

3.3. Only the rights granted by the Administrator(s) through issued mandates as well as via the "Rights Management" section shall prevail and shall enforceable against Spuerkeess in the context of the use of S-Net Business.

3.4. In S-Net Business, each User from a Business Entity has his own profile:

  • the "Admin User" profile is reserved for the Administrator(s) as set out in Article 1.4;
  • the "Standard User" profile is assigned to other Users with any authorisation on this Business Entity via statutory authority, via the mandates issued or the "Rights Management" section.

3.5. The "Admin User" profile may grant or withdraw all or part of the following rights to the "Standard User" profiles via the "Rights Management" section:

  • the right to enter transactions, import and download transaction files, and view their content for the authorised account(s) (right of entry);
  • the right to view the balances and/or transactions of the authorised account(s), including viewing the cards linked to these accounts (right of consultation);
  • the right to sign orders in the name and on behalf of the Customer for the authorised account(s) (right of approval);
  • the right to manage cards (right of card management).

There is an exception to this feature for "Standard User" profiles that also have permission as attorney for all accounts or as attorney for one or more of the Customer's accounts. Indeed, the "Admin User" profile does not have the power to deprive a "Standard User" profile of the rights of entry, view and approval on accounts for which the latter has a mandate. To do so, he must contact his Spuerkeess' advisor to revoke the aforesaid mandate(s).

3.6. The right of approval of "Admin Users" depends on the proxy rules determined by the Customer, including approval by one or more persons, either with or without limit of use.

3.7. The "Standard User" profile may have all or part of these rights for the product(s) designated by the "Admin User" profile. It should be noted that a "Standard User" profile having the right of approval for an account has de facto the rights of entry and consultation for this account (including the cards linked to this account).

3.8. The user having the "Admin User" profile acknowledges that he has sole liability for access and rights to the Customer's banking products on S-Net Business.

3.9. Spuerkeess recommends that the user(s) having the "Admin User" profile follow(s) the specific security advice below, especially if alone to approve the transactions (without counter-approval):

  • Check whether the rights assigned to the different "Standard User" profiles are still appropriate. Do not unnecessarily set rights of approval and too high limits of use.
  • Avoid being the only person to approve a transaction. It is strongly recommended that you separate rights of entry and approval.
  • Always check the amount(s) and, where applicable, the beneficiary account(s) that are displayed on the approval screens.
  • Regularly check the executed transactions and account statements in order to detect any fraud as soon as possible.

4. Limits of use

In S-Net Business, there is no limit per transaction or weekly limit for transfers within each Business Entity apart from the limits relating to the proxy rules defined by the Customer as well as the limits of use set within the context of a right of approval granted to a "Standard User" profile.

5. Access and security

5.1. Any Administrator may suspend or cancel the Customer's S-Net Business Agreement, either by using the function provided for this purpose in S-Net Business, or by contacting Spuerkeess during its business hours. In the event of suspension, an Administrator must contact Spuerkeess to release the S-Net Business Agreement.

5.2. Spuerkeess may partially or integrally suspend any S-Net Business Agreement and may not be held liable for doing so in part or in full on justified grounds and especially:

  • When the Customer's accounts are closed or blocked, or if it is established that the Customer has not complied with its legal, regulatory or contractual obligations in connection with the services provided;
  • If Spuerkeess deems it useful or necessary for the security of the System or in order to protect the interests of the Customer or Spuerkeess;
  • in the event of a technical or security failure of the System (for example, where hacked);
  • during the notice period in the event of termination of the contract;
  • if the Customer notifies Spuerkeess of misuse (or risk of misuse) or fraudulent use (or risk of fraudulent use) of the services provided via S-Net Business;
  • if fraud or misuse by the Customer is observed or if there is strong suspicion of fraud or misuse;
  • At the request of a judicial authority;
  • If S-Net Business has not been used over a continuous period of twelve (12) months;
  • If maintenance, improvement or repair works require it.

Spuerkeess will inform the Customer via the appropriate means of communication.

6. Execution of transactions

6.1. Spuerkeess is only held to execute orders transmitted by S-Net Business in strict compliance with the System's indications. The execution of any transaction must be validated by a confirmation procedure which the System indicates to the Customer depending on the transaction initiated. The moment of reception of the order corresponds to the moment that S-Net Business indicates to the Customer that the transaction has been recorded.

6.2. The execution of any transaction on an account shall be subject to the approval of one or more Users having the right of approval, in accordance with the authorisations determined by the Customer. If a transfer order is fully approved after the desired execution date, the execution date will correspond to the approval date, or the next working day, according to the rules in force.

6.3 The approval of a single transfer order to a new beneficiary requires strong authentication via a LuxTrust device, regardless of the amount of the transaction. Only single transfer orders to a trusted beneficiary (see Article 7.2 on this subject) are exempt from strong authentication.

6.4. The approval of a multiple-transfer order systematically requires strong authentication via a LuxTrust device, regardless of the types of beneficiaries linked to this order (new beneficiaries and/or trusted beneficiaries).

6.5. If a transaction has to be executed at a future date, the day agreed upon for the execution of this transaction is deemed to be the moment that Spuerkeess received the order. This transaction may be cancelled until the day before the agreed day for its execution.

6.6. Any unapproved transactions will not be executed, regardless of the desired execution date when entered.

6.7. Spuerkeess reserves the right to postpone the execution of transaction and may request further details, or, where applicable, written confirmation, if it deems the orders to be incomplete, or not to be of a sufficiently authenticated nature, or that the transactions in question seem likely to cause a money-laundering risk within the framework legislation applicable in Luxembourg. In this case, the Customer accepts all consequences of whatever kind that may result from the delay in executing or possible refusal to execute the order.

6.8. The User who transmits a payment instruction to Spuerkeess needs to have a mandate on the ordering account or a right of approval specific to S-Net Business, on the date the instruction is entered, as well as on the execution date.

7. Management of Beneficiaries

7.1. Users with at least the right of entry for at least one (1) of the Customer’s accounts may manage a list of beneficiaries, making it possible to enter and/or approve a payment to one of these beneficiaries more quickly. This list is associated with the Customer’s S-Net Business Agreement.

7.2. By default, any beneficiary of a single transfer order, a multiple-transfer order or a standing order becomes a predefined beneficiary for the Business Entity in question. Once a predefined beneficiary is validated via strong authentication via a LuxTrust device, he becomes a "trusted" beneficiary who will de facto be exempt from strong authentication when a single transfer order is made in his favour.

8. Duration and cancellation

Any S-Net Business Agreement is concluded for an unlimited duration. It may be terminated by the Customer through a (1) one-month notice. Spuerkeess must give a (2) two-month notice, unless under legal provisions the termination of the agreement becomes effective immediately, or it becomes void for whatever reason. The Agreement must be terminated, either in writing, or via secure S-Net Business messaging. Any transfer order which may be in the process of being performed will normally be executed, in accordance with the Customer's orders. However, transfer orders scheduled for a later date than the revocation of the S-Net Business Agreement will not be carried out anymore. Spuerkeess may not be held liable for the execution or non-execution of other orders received before the access to S-Net Business or to the relevant account was blocked.

9. Modification of the Terms and Conditions of Use

9.1. For any change to the present Terms and Conditions of Use, Spuerkeess will notify the Customer two (2) months prior to their entry into force. The change shall be considered to have been approved by the Customer if the Customer does not inform Spuerkeess of any objection in writing before the proposed date of entry into force.

9.2. In case of any discrepancy between the present Terms and Conditions of Use and the French version of the Terms and Conditions of Use, the French version shall prevail.

10. Applicable law, jurisdiction and place of performance

The Terms and Conditions governing the use of S-Net Business are subject to Luxembourg law and the Luxembourg courts are exclusively competent for any disputes arising from their application, interpretation or performance.

However, Spuerkeess may refer the dispute to any other court which, in the absence of the foregoing choice of law, would normally have had jurisdiction as regards the Customer.