BOSCOV’S RETAIL CREDIT AGREEMENT

Please see below for Important Changes to Your Boscov’s Retail Credit Agreement

YOUR BILLING RIGHTS.  KEEP THIS NOTICE FOR FUTURE REFERENCE.
This notice contains important information about your rights and our responsibilities under the Fair Credit Billing Act.
Notify us in case of errors or questions about your bill.
If you think your bill is wrong, or if you need more information about a transaction on your bill, write us on a separate sheet at the address listed on your bill.  Write to us as soon as possible.  We must hear from you no later than 60 days after we’ve sent you the first bill on which the error or problem appeared.  You can telephone us, but doing so will not preserve your rights.

In your letter, give us the following information:
  • Your name and account number.  
  • The dollar amount of the suspected error.
  • Describe the error and explain if you can, why you believe there is an error.  If you need more information, describe the item as it appears on your statement.
Your Rights And Our Responsibilities After We Receive Your Written Notice
We must acknowledge your letter within 30 days, unless we have corrected the error by then.  Within 90 days, we must either correct the error or explain why we believe the bill was correct.

After we receive your letter, we cannot try to collect any amount you question, or report you as delinquent.  We can continue to bill you for the amount you question, including FINANCE CHARGES, and we can apply any unpaid amount against your credit guideline.  You do not have to pay any questioned amount while we are investigating, but you are still obligated to pay the parts of your bill that are not in question.

If we find we made a mistake on your bill, you will not have to pay any FINANCE CHARGES related to any questioned amount.  If we didn’t make a mistake, you may have to pay FINANCE CHARGES, and you will have to make up any missed payments on the questioned amount, in either case we will send you a statement of the amount you owe and the date that it is due.

If you fail to pay the amount that we think you owe, we may report you as delinquent.  However, if our explanation does not satisfy you and you write to us within ten days telling us that you still refuse to pay, we must tell anyone we report you to that you have a question about your bill.  And we must tell you the name of anyone we reported you to.  We must tell anyone we report you to that the matter has been settled between us when it finally is.

If we don’t follow these rules, we can’t collect the first $50 of the questioned amount, even if your bill was correct.

Special Rule for Credit Card Purchases
If you have a problem with the quality of property or services that you purchased with a credit card, and you have tried in good faith to correct the problem with us, you may have the right not to pay the remaining amount due on the property or services.

BOSCOV'S PRIVACY POLICY
The following Privacy Policy is applicable to consumer customers of Boscov's Inc. and its subsidiaries and affiliates that may provide consumer financial services, including Boscov's Department Stores, LLC (including Boscovs.com), Boscov's Receivables Finance Corp., Boscov's Credit Card Master Trust and Boscov's TravelCenter, Inc. ("Boscov's").
At Boscov's, we respect our customers and understand that you are concerned about privacy, so we've instituted policies intended to ensure that your personal information is handled safely and responsibly.  We encourage you to refer to this policy on an ongoing basis so that you understand our Privacy Policy.  This policy was last updated on February 1, 2006.  If you have any questions about this policy you can contact us by mail at Customer Service, ATTN:  Privacy Manager, P.O. Box 4202, Reading, Pennsylvania 19606, by calling our Privacy Hotline at 1 800 755 2884 or click on "E mail Us" at Boscovs.com.

What Information Do We Collect?
Boscov's may collect personally identifiable information about you, depending on the services you use.
  • We keep information we receive from you on applications or other forms, including services involving Boscov's TravelCenter and Boscoverage, our extended service plan.
  • We keep information we receive from you when you use certain specialized services including layaway, gift registry, appliance service, check writing programs such as Western Union Quick Collect and various bank by phone programs.
  • We keep information about your transactions with us.
  • We keep information we receive from consumer reporting agencies and your Boscov's VISA® or other Credit Card applications.
We also may receive some information about you from other sources and may add it to your account information.  For example, we might get your updated address from a shipper or information on your preferences from another unaffiliated company conducting a promotion or event with us.

We may acquire customer lists from other parties so that we may invite them to become a new customer of Boscov's or visit us at Boscovs.com.  We provide customers with the opportunity to opt out of receiving future offers.

Boscov's reserves the right to collect or otherwise obtain personally identifiable information about customers and potential customers in any lawful manner.

What Additional Information Do we Collect at Boscovs.com, Our Internet Site?
Additional information about cookies and addition various types of information we collect on the internet; how Boscov’s uses this information; and how to Opt Out of their use can be found by clicking the “Privacy” button on our home page at HTTP://WWW.BOSCOVS.COM.   The additional Privacy Policy information, which is specific to the use of our website, is incorporated herein by reference.

How Do We Use Your Information?
We use your information in a number of ways, including the following:
  • For marketing and promotional purposes.  For example, we may send direct mail, statement stuffers or e mails to you about products or events that we think may be of interest to you.  We also may send you offers for discounts or free services (e.g., free gift wrap or shipping) on our web site.
  • Your information may also be needed to complete transactions you request or to provide services you have requested.  For example, we may need to use your information to keep track of your layaway, to determine if you have a Boscoverage® contract or to keep track of your travel preferences.
Boscov's reserves the right to use personally identifiable information about customers and potential customers in any lawful manner.

Do We Share Your Information?
The information gathered, for example, your name and address, may be shared with Boscov's affiliates.  We may also share the information with unaffiliated third parties, including responsible companies with which we have a relationship.  For example:

We may disclose the following kinds of personally identifiable information about you:
  • Information we receive from you on your credit application or other forms, such as your name, address, social security number and date of birth;
  • Information about your transactions with us, our affiliates, or others, such as your account balance, credit limit, account number, payment history, parties to transactions, types of goods and/or services purchased and credit card usage;
  • Information we receive from a consumer-reporting agency, such as your creditworthiness and credit history.
We may disclose personally identifiable information about you to the following types of unaffiliated third parties as permitted by law:
  • Other financial service providers.  For example, Boscov's is party to a "co branded" Boscov's/VISA® dual-purpose credit card arrangement with First Bankcard or other financial service providers.
  • Non financial companies, such as other retailers, publishers, direct marketers and companies that provide travel services through Boscov's Travelcenter;
  • Companies with which Boscov's has a joint marketing arrangement.  For example, Trilegiant;
  • Companies which we may utilize to provide extended services under our Boscoverage® program or other in home services.
  • Non profit and community service organizations that operate in communities we serve.
  • Some of our vendors may work closely with us to ship your order directly to you for certain specialty items such as furniture, shoes and dinnerware.  In certain instances, we may share certain information about you with that vendor.
  • We may use unaffiliated companies to assist in providing our products and services to customers.
  • We may share your personally identifiable information with outside companies that perform services on our behalf.  For example, we may retain an outside company to manage a database containing certain customer information or to create and distribute an offering by telephone, mail or e mail.  In those situations, the outside party is performing work for Boscov's, and Boscov's takes appropriate steps designed to ensure your information is used only to provide the services requested by Boscov's, and not for other purposes.
  • Additionally, Boscov's may share account or other information when we believe it is necessary to comply with law or to protect our interests or property.  This may include sharing information with other companies, lawyers, credit bureaus, agents or government agencies in connection with issues related to fraud, credit or debt collection.
  • Finally, Boscov’s may share your personal information with unrelated outside companies so that they can directly market their product or services to you if we feel that a company offers products or services that we believe may be of interest.  We may also provide you with the opportunity to sign up at Boscovs.com in order to receive offers by e-mail.
In the event that some or all of the business assets of Boscov's are sold or transferred, we may transfer the corresponding information about our customers.

Explanation of Opt Out Rights
If you prefer that we not disclose certain personal information about you, you may opt out of those disclosures; that is, you may direct us not to make those disclosures (other than disclosures permitted by law or otherwise exempt from your opt out rights).  If you wish to opt out of disclosures of nonpublic personal information to unaffiliated companies, you may call the following toll-free number:  1 800 755 2884.  If you wish to opt out of disclosure of credit information (other than your credit experience with us) between affiliate companies within Boscov's, you may call the same toll free number: 1 800 755 2884.
If you share access to, or responsibility for, your Boscov's credit card account with some one else, either party may exercise their opt out rights.  If either party exercises the opt out right, none of your information associated with the joint account will be disclosed (other than disclosures permitted by law or otherwise exempt from your opt out rights).
Once you have submitted your request you should assume that it has been successfully received and your request is being processed.  Please allow us 60 calendar days from your request to complete the removal, as some of our promotions may already have been in process before you submitted your request.
You should know that certain information (for example, your name, address and phone number) may still be shared with unaffiliated third parties when it is required to complete a purchase or to provide special services that you request.  Your transaction or request is our authorization to provide this information to third parties regardless of your or your joint account holder's previous request to opt out but only for this transaction or request.
Because cookies are specific to each computer that you may use to access boscovs.com, you must turn off the collection of shopping experience data by opting out of our use to this data should decide you do not want us to use this data to enhance your shopping experience.  Please note that any request that you make to opt-out of our disclosure of data does not also turn off the Coremetrics cookie, as you must do that from your own computer.

Is My Information Secure?
Boscov's is committed to doing its best to maintain the security of information collected.  To try to prevent unauthorized access, maintain data accuracy, and ensure the correct use of information, we have put in place physical, electronic, and managerial procedures to safeguard and secure the information we collect.
We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you.  We maintain physical, electronic, and procedural safeguards to guard your nonpublic personal information.
Private electronic account and customer information is located on a secured server behind a firewall; it is not directly connected to the Internet.  The firewall meets or exceeds recognized industry standards.

What About Information About Children?
The Children's Online Privacy Protection Act took effect on April 21, 2000 and imposes certain requirements on web sites directed toward children under 13 that collect information on those children, or on web sites that knowingly collect information on children under the age of 13.  Boscovs.com's web site is not directed toward children under 13 and it is our site's policy not to collect personal information on any person under 13.
Privacy Policy Changes
We may change this Privacy Policy from time to time.  When such a change is made, we will post a revised version on the Boscovs.com web site and make it available at our locations.  Changes will be effective when they are posted.  It is your responsibility to review this Privacy Policy from time to time to be aware of any such change.  Your continued use of any of Boscov's services, including Boscovs.com, will indicate your agreement to any such change.
This Privacy Policy was last updated February 1, 2006.  Please check back with us periodically for updates and changes.
BOSCOV’S RETAIL CREDIT AGREEMENT.
In this agreement, the term "You" refers to each person to whom a card is issued or authorized to use it.  "Us" and "We" refer to Boscov’s Credit Card Master Trust.  The Agreement applies to all Boscov’s Proprietary Account Plans.  You agree to the following:
1.  PAYMENTS - You will pay for all purchases made by yourself or any other person authorized to use this account.  You
have the right to pay the total New Balance of the account in full within 25 days of the billing date without incurring a FINANCE CHARGE, or at your option, pay at least the "Minimum Payments" as indicated on your monthly statement and described below:

Regular minimum payment = 1/20th of the new balance rounded up to the next $5.00, but not less than $10.00 or the balance if less than $10.00

Major Purchase minimum payment = 1/36th of the new balance rounded up to the next $5.00 in the billing period in which you made your last purchase, but not less than $10.00 or the balance if less than $10.00.  Usage of the major purchase plan is limited to certain purchases in excess of $300.00 in certain departments:  See store for details.

Credit plans with more favorable minimum payment terms may be available from time to time.  See store for details.

All payments made on your Boscov's Charge Account will be applied to your oldest credit plan requiring payments first until the monthly minimum payments are satisfied.  Any payment, which exceeds the minimum payment, will be applied to your oldest credit plan on which minimum monthly payments are required and then to your oldest credit plan on which minimum monthly payments and/or FINANCE CHARGES have been deferred.  All payments are applied toward your credit plan balances in the following order:
  1. Unpaid FINANCE CHARGE.
  2. Unpaid late fees/Return check fees.
  3. Unpaid insurance premiums due.
  4. Account principal.
  5. Unbilled transactions.
If you pay more than your minimum payment required, but less than the balance, the excess portion of the payment will be applied to your next month’s minimum payment required.  The excess portion is defined as a “pre-paid” amount.  Therefore, if you paid more than your minimum due last month, the current payment may be reduced or pre-paid in full.  FINANCE CHARGES will continue to accrue.

All past due amounts will be added to the minimum due.  Payments can be mailed to the Boscov’s Credit Office at the address printed on the front of your monthly statement or will be accepted at any Boscov’s store.  The current payment address maybe obtained by calling 1-800-755-7872.

2.     FINANCE CHARGES not in excess of those permitted by law will be assessed on the outstanding balance of your account from month to month.  You pay no FINANCE CHARGE in any billing period for which there is no previous balance or during which the sum of your payments and credits was at least equal to the previous balance.  We compute your FINANCE CHARGE by multiplying the average daily balance shown on your statement by the periodic rates listed below.  From time to time We may offer “Deferred FINANCE CHARGE Plans (DFRPs)”.  Interest on DFRPs will accrue from the date of this Purchase.  FINANCE CHARGE deferral is for the period specified in the advertising.  If this purchase is paid in full before the deferral period expires, accrued FINANCE CHARGES will be waived; otherwise all accrued FINANCE CHARGES will be assessed to your account and will be payable according to this Agreement.  There will be a minimum FINANCE CHARGE of $.50 (Except for residents of Maryland).

ANNUAL PERCENTAGE RATE    All States Up to 21.0%
Periodic Rate All States 1.75%
Grace Period for repayment of Balances for purchases You have 25 days to repay your balance before a FINANCE CHARGE will be assessed
Method of computing the balance for purchases Average Daily Balance Method (including current purchases)
Minimum FINANCE CHARGE Residents of MD NONE
All Other States $0.50
Late Payment Fee All States   Up to $25
Returned Check Fee MD - $10.00
All Other States - $15.00

3.    LATE PAYMENT FEES – may be applied to any account, as allowed by law, when a payment is not made by the Due Date indicated on your monthly statement and during each subsequent billing cycle in which the payment remains unpaid.  The late payment fee may be up to $25.00, subject to state law limitations.  We have the right to waive, defer, or reduce this Late Fee based, among other factors, on the balance of your account.  If we do so, we will not lose our right to impose the maximum Late Fee in later billing periods.
This Late Fee is separate and in addition to any FINANCE CHARGES, which may be assessed.  As always, if you maintain a current account, you WILL NOT be charged a late payment fee.

4.    SMALL BALANCE POLICY – Balances from $0.01 to $0.99 that remain on the account for more than 26 days will be automatically credited to your account.  Credit Balances from -$0.01 to -$0.99 that remain on the account for more than 26 days will not be refunded.

5.    AVERAGE DAILY BALANCE - To calculate the "average daily balance" we take the beginning balance of your account each day, add any new purchases and subtract any payments, and credits.  This is the daily principal balance.  We then add all the daily principal balances for the billing cycle and divide the total by the number of days in the billing cycle.  This results in the "average daily balance."

6.    MINIMUM PURCHASE - There is no minimum purchase requirement on your regular plan.  The minimum allowable purchase on your Major Purchase Plan is $300.00.  Major Purchases are limited to certain types of merchandise and/or services.

7.    CHANGE OF TERMS - We can change credit terms at any time.  We will notify you in advance of any such changes as required by law.  The new terms may be applied to your unpaid balance as well as any new purchases to the extent permitted by applicable law.    This Agreement replaces all prior Agreements.

8.    CHANGE OF RESIDENCE - If you change your residence, you must tell us in writing promptly.  If you move to another state, the account, including any unpaid balance, will be controlled by the credit terms in that state for DE, PA, NJ, NY, MD and VA; in all other states the account will be controlled by the credit terms in PA.  We will provide you with a written disclosure of any new terms, as the law requires.

9.    PAST DUE PAYMENTS - If you do not pay to us what you promised to pay for the minimum monthly payments, we may declare your entire balance due and payable, subject to any rights you have by State law to correct your non-payment.  We may refer your account to an outside agency or attorney for collection.  You agree to pay reasonable attorney's fees and court costs to Boscov’s associated with the collection of your account as permitted by law.  We also may terminate the FINANCE CHARGE and/or Payment deferral period for any plan.

10.    SECURITY INTERESTS - Except in New York, where we do not take any security interest, we reserve a security interest in all goods and/or services purchased until such goods and/or services are paid in full.

11.    CALL MONITORING - To insure you receive accurate and courteous customer service, on occasion your call will be monitored and/or recorded.  You consent to such monitoring and/or recording.

12.    CUSTOMER INFORMATION - You give us and any holder of this Agreement permission to furnish information about you to other persons who may use this information to solicit you for products or services.  You can request that we discontinue furnishing this information by writing to us at P.O. Box 4274, Reading, PA 19606.

13.    APPLICATIONS/CREDIT CARD(S) – This application and credit card(s) issued to you remain Boscov's property.  Credit cards must be returned to Boscov's upon request.  Proper use of the cards(s) is your responsibility.

14.    CHARGE SLIPS - You will sign a charge slip at the time of each purchase made in one of our stores, and in the case of purchases made by telephone, mail or Internet, you will accept our sales slip evidencing such sale and/or records of delivery of the merchandise and/or service as conclusive evidence of sale and/or delivery.  You authorize us as your agent to sign such sales slips on your behalf in the case of telephone, mail, or Internet purchases of merchandise and/or services.

15.    CREDIT REPORTS AND DISCLOSURES - We have the right to investigate and verify the application information you have provided.  We may request consumer reports from a consumer reporting agency in considering your application and for the purpose of an update, renewal or additional extension of credit.  We have the right to lower your credit limit or close your account if your credit report no longer meets our credit criteria.  Upon request, we will tell you if we obtained a consumer report and provide you with the name and address of the reporting agency.  We may furnish information concerning your account to consumer reporting agencies or others who may lawfully receive such information. If you think the information we reported to a credit reporting agency is wrong, or if you need more information about the information reported, you must write us on a separate sheet at P.O. Box 4202, Reading, PA 19606.  Write to us as soon as possible.
In your letter, give us the following information:  • Your name and account number.  • Describe the error and explain if you can, why you believe there is an error.  If you need more information, describe the item as it appears on your credit bureau report.

16.    LOST OR STOLEN CREDIT CARD (S) - If you believe your credit card(s) is lost or stolen or has been used without your permission, you agree to notify us immediately and to cooperate in giving the facts as to the unauthorized use of the card(s).

17.     RETURNED CHECKS - If any check you present to us is returned unpaid, you agree to have it charged back and subject to the terms of your account Agreement, plus a reasonable returned check fee as permitted by law.  The returned check fee for all states except MD will be $15.00.   The returned check fee for MD will be $10.00.

18.    LIABILITY - If this is a joint account, both of you agree to be bound by the terms of this Agreement and each of you agrees to be both jointly and severally liable for the payment of all purchases under this Agreement.

19.    BREACH OF CONTRACT - No delay, omission, or waiver in the enforcement of any provision of this Agreement by us will be deemed to be a waiver of any subsequent breach of such provision or of any other provision of the Agreement.

THE LAW REQUIRES US TO GIVE YOU THE FOLLOWING NOTICES:
Maryland:  Our charge account program for Maryland customers is subject to the provisions of Subtitle 9 of Title 12 of the Commercial Law Article of the Maryland Code.

Notice:  Any Holder of this consumer contract is subject to all claims and defenses which the debtor could assert against the seller of goods or services obtained pursuant hereto or with the proceeds hereof.  Recovery hereunder by the debtor shall not exceed amounts paid by the debtor hereunder.

Notice to the buyer:
    1.    Do not sign this Credit Agreement before you read it or if it contains any blank space.
    2.    You are entitled to a completely filled in copy of this Credit Agreement.
    3.    You may at any time pay your total indebtedness under this Agreement.

SIGN HERE AND KEEP THIS RETAIL CREDIT AGREEMENT FOR YOUR RECORDS:
(SIGNATURE PLACED HERE)

_________________________________________        ________________________________________
APPLICANT SIGNATURE                                              CO-APPLICANT SIGNATURE


Important Changes to Your Boscov’s Retail Credit Agreement

1. The second sentence of the paragraph on the application that begins “YOU ARE APPLYING FOR A CREDIT CARD ” in the Agreement is replaced with the following sentence: “IF YOU DO NOT QUALIFY FOR A BOSCOV’S REWARDS VISA® CARD OR HAVE CHOSEN TO ONLY BE CONSIDERED FOR A BOSCOV’S PROPRIETARY CARD ONLY, HSBC BANK NEVADA, N.A. WILL CONSIDER YOU FOR A BOSCOV’S PROPRIETARY CREDIT CARD AND YOU WILL BE BOUND BY THE BOSCOV’S RETAIL CREDIT AGREEMENT.”

2. The issuer of the Boscov’s Retail Credit Card Account is HSBC Bank Nevada, N.A., a national banking association located at 1111 Town Center Drive, Las Vegas, Nevada 89144. All references to “us”, “our”, and “we” refer to HSBC Bank Nevada, N.A., not Boscov’s Credit Card Master Trust. HSBC Bank Nevada, N.A. is the issuer of the Boscov’s account or the Boscov’s charge account and all references to Boscov’s as the owner, issuer, or provider of the card, account, or otherwise are hereby deleted and replaced with HSBC Bank Nevada, N.A.

3. You agree that we may obtain a credit bureau report on you and we may check any of the information provided on this application from whatever source we choose.

4. You agree that you are furnishing all information on this application to both Boscov’s and us.

5. The following provisions in the Agreement are deleted and replaced with a new Section 20 included below, entitled “Applicable Law”: (i) the second and third sentences of Section 8; (ii) and any references to “State law”; and (iii) the sections entitled “Maryland” and “Notice” following Section 19.
20. APPLICABLE LAW - This Agreement and your account shall be governed by, and interpreted under, federal law, including the Federal Arbitration Act, and the laws of the State of Nevada applicable to contracts made and to be performed therein without reference to principles of conflict of laws. The legality, enforceability and interpretation of this Agreement and the amounts contracted for, charged and received under this Agreement will be governed by such laws. This Agreement is entered into between you and us in Nevada. We make decisions about granting credit to you from and extend credit to you under this Agreement from, Nevada. Federal and Nevada law shall also apply to any controversy, claim or dispute arising from or relating in any way to the subject matter of this Agreement and/or your Account, including statutory, equitable and tort claims.”

6. Section 8 of the Agreement is amended as follows: “8. Security Interest – Except in New York, where we do not take any security interest where the original purchase price is less than $200 ($700 in Maryland) we reserve a security interest in all goods and/or services purchased until such goods and/or services are paid in full.”
ARBITRATION: Any claim, dispute, or controversy between you and us (whether based upon contract; tort, intentional or otherwise; constitution; statute; common law; or equity and whether preexisting, present or future), including initial claims, counter-claims, cross-claims and third party claims, arising from or relating to this Agreement or the relationships which result from this Agreement, and except as provided below, the validity, enforceability, or scope of this arbitration provision, any part thereof or the entire Agreement (“Claim”), shall be resolved, upon the election of you or us, by binding arbitration pursuant to this arbitration provision and the applicable rules or procedures of the arbitration administrator selected at the time the Claim is filed. The party initiating the arbitration proceeding shall have the right to select one of the following arbitration administrators (the “Administrator”): the American Arbitration Association (“AAA”) or the National Arbitration Forum (“NAF”). The arbitrator shall be a lawyer with more than ten years experience or a retired or former judge. We agree not to invoke our right to arbitrate an individual Claim you may bring in small claims court or an equivalent court, if any, so long as the Claim is pending only in that court. The rules and forms of the AAA and the NAF may be obtained by writing to these organizations at the addresses listed below. Our address for service of process under this provision is HSBC Bank Nevada, N.A., P.O. Box 279, Mount Prospect, IL 60056.

Any participatory arbitration hearing that you attend will take place in the city nearest to your residence where a federal district court is located or at such other location as agreed by the parties. On any Claim you file, you will pay the first $50 of the filing fee. At your request we will pay the remainder of the filing fee and any administrative or hearing fees charged by the Administrator on any Claim submitted by you in arbitration up to a maximum of $1,500. If you are required to pay any additional fees to the Administrator, we will consider a request by you to pay all or part of the additional fees; however, we shall not be obligated to pay any additional fees unless the arbitrator grants you an award. If the arbitrator grants an award in your favor, we will reimburse you for any
additional fees paid or owed by you to the Administrator up to the amount of the fees that would have been charged if the original Claim had been for the amount of the actual award in your favor. The parties shall bear the expense of their respective attorney’s fees, except as otherwise provided by law. If a statute gives you the right to recover any of these fees, or the fees paid to the Administrator, these statutory rights shall apply in the arbitration notwithstanding anything to the contrary contained herein. If the arbitrator issues an award in our favor you will not be required to reimburse us for any fees we have previously paid to the Administrator or for which we are responsible.

This arbitration agreement is made pursuant to a transaction involving interstate commerce, and shall be governed by the Federal Arbitration Act, 9 U.S.C. Sections 1 - 16 (the “FAA”). The arbitrator shall apply applicable substantive law consistent with the FAA and, if requested by either party, provide written reasoned findings of fact and conclusions of law. Judgment upon the award may be entered in any court having jurisdiction. The arbitrator’s award will be final and binding except for: (a) any appeal right under the FAA; and (b) any appeal of Claims involving more than $100,000. For such Claims, any party may appeal the award to a three arbitrator panel appointed by the Administrator, which will reconsider de novo (i.e., in its entirety) any aspect or all aspects of the initial award that is appealed. The panel’s decision will be final and binding, except for any appeal right under the FAA. Unless applicable law provides otherwise, the appealing party will pay the appeal’s costs (i.e., the amounts owed to the Administrator and the arbitrators), regardless of its outcome. However, we will consider in good faith any reasonable request for us to bear up to the full costs of the appeal.

This arbitration agreement shall survive termination of your Account as well as the repayment of all amounts borrowed hereunder. If any portion of this arbitration agreement is deemed invalid or unenforceable under any law or statute consistent with the FAA, it shall not invalidate the remaining portions of this arbitration agreement or the Agreement. In the event of a conflict or inconsistency between the rules and procedures of the Administrator and this arbitration agreement, this arbitration agreement shall govern. Notwithstanding any language in this arbitration provision to the contrary, no arbitration may be administered, without the consent of all parties to the arbitration, by any organization that has in place a formal or informal policy that is inconsistent with and purports to override the terms of this arbitration provision, including the Class Action Waiver Provision defined below.

No class actions or private attorney general actions in court or in arbitration or joinder or consolidation of any claims in Court or in arbitration with other persons, are permitted without the written consent of you and us. The validity and effect of the preceding sentence (herein referred to as the “Class Action Waiver Provision”) shall be determined exclusively by a court and not by the Administrator or any arbitrator. Neither the Administrator nor any arbitrator shall have the power or authority to waive, modify or fail to enforce the Class Action Waiver Provision, and any attempt to do so, whether by rule, policy arbitration decision or otherwise, shall be invalid and unenforceable. THE PARTIES ACKNOWLEDGE THAT THEY HAD A RIGHT TO LITIGATE CLAIMS THROUGH A COURT BEFORE A JUDGE OR JURY, BUT WILL NOT HAVE THAT RIGHT IF EITHER PARTY ELECTS ARBITRATION. THE PARTIES HEREBY KNOWINGLY AND VOLUNTARILY WAIVE THEIR RIGHTS TO LITIGATE SUCH CLAIMS IN A COURT BEFORE A JUDGE OR JURY UPON ELECTION OF ARBITRATION BY EITHER PARTY.
You may contact, obtain the arbitration rules of, or file a Claim with AAA or NAF, as follows:

American Arbitration
335 Madison Avenue
New York, NY 10017
www.adr.org
National Arbitration Forum
P.O. Box 50191
Minneapolis, MN 55405
www.arb-forum.org

As used in this arbitration provision, the term “we”, “us”, and “our” shall mean HSBC Bank Nevada, N.A., its parents, subsidiaries, affiliates, predecessors, successors, assigns, and each of their officers, directors, and employees.

IMPORTANT INFORMATION:
ABOUT PROCEDURES FOR OPENING A NEW ACCOUNT
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you:
When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.


HSBC Bank Nevada, N.A.
Privacy Statement
Our Commitment to You
HSBC Bank Nevada, N.A. ("HSBC"), is proud to be part of a financial services organization that has been providing superior products and services to its customers for more than a century. We greatly appreciate the trust that you and millions of other customers have placed in us, and we protect that trust by respecting your privacy even if our relationship with you ends.
This Privacy Statement illustrates our commitment to your privacy and explains our privacy practices so you can make an informed decision about whom you allow us to share your information with in order to offer you additional products and services. Although most customers enjoy receiving offers and information about additional products and services, if you prefer that we don't share your information for marketing purposes we will respect your choice.
Types of Information We Collect
It is important for you to know that in order to ensure that our customers get the very best service and the highest quality products, HSBC collects demographic information (such as your name and address) and credit information (such as information related to your accounts with us and others). This information comes either directly from you, for instance, from your application and transactions on your account; or, it may come from an outside source such as your credit bureau report. In addition, if you visit our Internet website, we may collect certain information about your Internet usage. Gathering this information helps us to identify our customers and manage our customer relationships. It also assists us in the development of products and services to meet the continuing needs of our customers.
We Respect Your Privacy
Since some of the information we gather is not publicly available, we take great care to ensure that this information is kept safe from unauthorized access. Because HSBC respects your privacy and values your trust, the only employees or companies who can access your non-public personal information are those who use it to service your account or provide services to you or to us. HSBC diligently maintains physical, electronic and procedural safeguards that comply with applicable federal standards to guard your nonpublic personal information and to assist us in preventing unauthorized access to that information.
How We Share Information with Our Affiliates*
From time to time, for general business purposes such as fraud control, or when we think it may benefit you, we share certain information with other companies within our corporate family (i.e., Affiliates). These companies all provide financial services such as banking, consumer finance, insurance, mortgage, and brokerage services. Some
examples include companies doing business under the names HFC®, Beneficial, or HSBC. We may also share certain information with non-financial service providers that become our Affiliates in the future (such as travel, auto and shopping clubs). The information we share might come from your application, such as your name, address,
telephone number, social security number, and e-mail address. Also, the information we share could include your transactions with us or our Affiliates (such as your account balance, payment history, and parties to the transaction), your Internet usage, or credit card usage. Except for Vermont residents, the information we share with our Affiliates may also include your assets, income or credit reports which we collect from the sources described above. With this information, our Affiliates can determine if the products they specialize in, such as mortgages, automobile loans and insurance, may be of benefit to you.
How We Share Information with Your Merchant/Dealer
We may share non-public personal information with the merchant or dealer in whose name your credit card is issued which the merchant or dealer may use to market you for products and services unrelated to your account with us. The information we provide them may come from your application and might include your name, address, and telephone number. You may tell us not to share such information with the merchant or dealer for purposes unrelated to your account with us by calling the phone number listed below. For Vermont residents, Vermont law requires us to obtain your permission to share information about you in this way and we have chosen not to share your information in this way.
How We Share Information Outside the HSBC Family (Other than Your Merchant/Dealer)
Except for California and Vermont residents, we also may share information with companies outside our corporate family (i.e., non-Affiliates) that are able to extend special offers we feel might be of value to you. These companies may be financial services providers (such as mortgage bankers or insurance product providers) or they may be nonfinancial companies (such as retailers or marketing companies). These offers are typically for products and services that you might not otherwise hear about. The information we may provide them comes from the sources described above and might include your name, address and phone number. For California and Vermont residents, applicable law requires us to obtain your permission in order to share your information in this way, and we have chosen not to share your information in this way. We may also provide information to non-Affiliates that perform operational services related to your account or marketing services for us. Sharing information with these types
of companies is permitted by law. Such a company might include a financial company (such as a mortgage banker or insurance service provider) with whom we have a joint marketing agreement or a non-financial company (such as a data processor or Internet service provider) with whom we have a service agreement. The information we may share also comes from the sources described above and might include your name, address, phone number and account experience with us. Finally, we provide information about you to non-Affiliates such as credit reporting agencies and companies which provide services related to your account. This information sharing is also permitted by law.
Privacy and Security on the Internet
Our website offers you the opportunity to view your current account information and make payments online, in addition to providing general information about our company and products. You may view our Privacy Statement when you visit our website by clicking on the "Privacy Statement" link. We reserve the right to change our privacy practices at any time in accordance with applicable law. Notice of such changes will be provided if required by applicable law.
How to Request That Your Information Not Be Shared
Information Sharing With Our Affiliates*
If you do not want us to share your credit information (such as your credit bureau information) with our Affiliates, please let us know by simply calling us at 1-800-755-2884. We will be happy to comply with your request. Your request will not apply to information about your transactions or experience with us (such as account information, account usage, or payment history) and will only apply to the private label accounts you have with HSBC Bank Nevada, N.A. Private label accounts are not general purpose accounts such as MasterCard® or Visa®, but are accounts that may be used only at the specific merchant or merchants named on the credit card or account. An opt-out request by any party on a joint account will apply to all parties on the joint account. Vermont residents are automatically opted out from credit information sharing with our Affiliates.
Information Sharing with Merchant/Dealer
If you do not want us to share your non-public personal information with the merchant/dealer (unless we are permitted or required by law to do so), you will also need to let us know by simply calling us at 1-800-755-2884. We will be happy to comply with your request. Please understand that your request may exclude you from receiving valuable offers in the future. Your request will only apply to the private label accounts you have with HSBC Bank Nevada, N.A. An opt-out request by any party on a joint account will apply to all parties on the joint account. Opt-out requests will not apply to information sharing that is permitted by law. Vermont residents are automatically opted out from information sharing with the merchant/dealer that is not otherwise permitted or required by law.
Information Sharing with Non-Affiliates (Other than Your Merchant/Dealer)
If you do not want us to share your non-public personal information with non-Affiliates (unless we are permitted or required by law to do so), you will also need to let us know by simply calling us at 1-800-755-2884. We will be happy to comply with your request. Please understand that your request may exclude you from receiving valuable offers in the future. Your request will only apply to the private label accounts you have with HSBC Bank Nevada, N.A. An opt-out request by any party on a joint account will apply to all parties on the joint account. Opt-out requests will not apply to information sharing that is permitted by law. California and Vermont residents are automatically opted out from information sharing with non-Affiliates.
How to Be Removed from Solicitation Lists of Companies Participating in the Direct Marketing Association (DMA) Preference Service
If you wish to be removed from mailing solicitation lists at a national level, please send your name and address (with zip code) to the Direct Marketing Association at the following address: Mail Preference Service (DMA), P. O. Box 9008, Farmingdale, NY 11735-9008.
 *"Affiliates" are companies that are related to us by common ownership or corporate control. Our Affiliates include HFC®, Beneficial®, HSBC Automotive Finance Corporation, HSBC Insurance Services, and HSBC companies such as HSBC Bank USA, and HSBC Mortgage Corporation.


Revised 04/25/06