APPLICATION PROCESS

3 ADDITIONAL REQUIRED DOCUMENTS

In addition to the COMPLETED application and security deposit, applicants must provide the following:

INDIVIDUAL (AND EACH ADDITIONAL CARDHOLDER)

• At least one personal letter of reference from a bank or professional not more than 30 days old addressed to Hallmark Bank & Trust Ltd. confirming address
• A notarized copy of passport photo page for each cardholder
• An original of a recent home utility bill or current (not more than 3 months old) credit card statement.

CORPORATE

If either or both the cardholder or the pledgor is going to be a company we will require:

• Certificate of Incorporation
• At least one letter of reference from a bank or professional
• Resolution to operate account and name of officer/s responsible
• Authorized signatures and notarized copy of their passport photo page
• Guarantee and Waiver

4 SECURITY PLEDGE AGREEMENT

I / We                                                                                                                      (“the Pledgor”) in consideration of Hallmark Bank & Trust Limited (“Hallmark”) issuing one or more MasterCard credit cards (“the Card”) to                                                                             (“the Cardholder”) with a credit limit of $                                           hereby agree to deposit with Hallmark the sum of  $                                    (125% of the requested credit limit) (“the Collateral”) to be held on deposit as Collateral against all present and future indebtedness of the Cardholder to Hallmark.  The Pledgor hereby assigns pledges and grants to Hallmark a continuing security interest in and lien upon all right, title and interest of the Pledgor in and to the Collateral.

In the event that the Cardholder or Hallmark cancels the Cardholder’s Card, the Collateral will be held until the latter of the date which is one year from the date of issuance or period of 6 months after the date of cancellation. All charges incurred during that period as well as the outstanding balance as of the date of cancellation will be deducted from the Collateral and Hallmark shall have an immediate right of set off against the Collateral.

The Pledgor warrants and represents that it is the legal and beneficial owner of the Collateral free and clear of any mortgage, adverse interest, lien or charge.

The Pledgor waives any requirement of notice of the Cardholder’s default and agrees that Hallmark may use the Collateral to satisfy all or part of the Cardholder’s indebtedness without the necessity of pursing any remedies it may have against the Cardholder.  The Pledgor hereby irrevocably and unconditionally waives to the fullest extent permitted by law all defenses, counterclaims, rights of set-off, notice of non-payment, default or dishonour in connection with Hallmark taking possession of or disposing of the Collateral.

The Pledgor acknowledges that the Collateral will be held on deposit by Hallmark and that except as provided herein the Pledgor shall have no right to withdraw funds held on deposit.

Upon receipt by the Cardholder of the Card, usage by the Cardholder shall constitute acceptance of the Conditions of Use set our in the Cardholder Agreement.

This Agreement is governed by the laws of the Turks and Caicos Islands.

Dated at________________________ this_______________ day of, ______________ year_______________

5 SEND APPLICATION AND DOCUMENTS TO:

Hallmark Bank & Trust Ltd.
*PO Box 104, Tropicana Plaza
Leeward Highway, Providenciales
Turks & Caicos Islands,BWI
Telephone: 649 941 5191
Facsimile: 649 941 5801

*Please Omit PO BOX for Courier Delivery

OR

Hallmark Bank & Trust Ltd.
PO Box 325, Stn. A
Etobicoke, ON, Canada
M9C 4V3

OR

L.P.O. P.O. Box 726
Niagara Falls, NY
14304-0726 USA

For Faster Processing

Send a bank draft payable to Hallmark Bank & Trust Ltd. along with application and documents.

OR

Wire Your Funds Directly

HALLMARK BANK & TRUST LTD.
WIRE TRANSFER INSTRUCTIONS
To Turks & Caicos Islands

U.S. Dollars