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icon_widget_image Lekki Office 8b, Sola Oguntade Close, Off Durosimi Etti Street, Lekki Phase 1, Lagos icon_widget_image 08023060703, 09053820006-8 icon_widget_image Ikeja: 1D Agbareh Close, Off Bamishile Street, Allen Avenue, Ikeja, Lagos icon_widget_image 09059890403 icon_widget_image Ajah: Km 47, Ajah Epe Expressway, Fam Bus stop, Ajah, Lekki, Lagos. icon_widget_image 09053820024, 08023060703 icon_widget_image Abuja: Plot 1207, FHA, Lugbe Layout, Airport Road, Abuja icon_widget_image 09059890412 icon_widget_image customerrelations@firmus.com.ng 09059890403

Firmus Microfinance Bank

Individual Account Opening

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    EMAIL AND WHATSAPP INDEMNITY

    I hereby request that FirmusCapital Limited (“Firmus”) or Firmus Retail Services Limited (“FirmusRSL”) or Firmus Microfinance Bank (“Firmus MFB”) a body corporate duly incorporated under the Companies and Allied MattersAct, CAP C 20 LFN 2004 (hereinafter “Firmus”) should act on all instructions transmitted via e-mail address or WhatsApp by me using the above email and phone number only.

    Firmus is prepared to act upon these instructions received via the above e-mail address or WhatsApp stated above subject to the Customer providing the indemnity in the form  herein below:

    1. I shall furnish Firmus with an e-mail address and phone number from which Firmus can accept instructions and confirm these instructions. I shall be entitled to amend the aforementioned e-mail or phone number by written instructions duly executed per the authorized mandate vide the existing email or phone number in Firmus records.
    2. I irrevocably authorize Firmus to make any payments and comply with all instructions contained in such email or WhatsApp chat, without any reference to or further authority from me and without enquiry into the justification or validity thereof and agree that Firmus may assume the authenticity thereof and that any payment which Firmus shall make or instructions which Firmus may comply in accordance or purporting to be  in accordance with such email or WhatsApp instructions shall be binding upon me and shall be accepted by me as conclusive evidence that Firmus was liable to make such payment or comply with such demand.
    3. It is not possible for Firmus to check the authenticity of all emails or WhatsApp chats and instructions that claim to come from the customer.
    4. All emails or WhatsApp chats which claim to come from mewill be treated as having been given by me inthe form actually received by Firmus. The claimed instructions may as a result of the malfunction of equipment, the distortion of communication links and the like, be different to that intended or sent, I shall nevertheless be bound by it.
    5. I confirm that Firmus will not be liable for any loss incurred by me as a result of Firmus acting or declining to act (wholly or in part) on instruction which Firmus believes to have been given in conformity with the above, whether or not such instructions have been so given. The fact that any instruction may later be shown to bein any way false, incomplete, inaccurate delayed, erroneous, unauthorized or otherwise not authentic should not be an impediment to the rights of Firmus hereunder.
    6. Firmus may but is not obliged to act on any instruction that claims to come from the Customer;
    7. I agree to indemnify Firmus and keep you indemnified against all actions, proceedings, claims, losses, liabilities, damages, cost and expenses in relation to and arising out of any of your acts or to act in accordance with such email or WhatsApp chat and to pay or reimburse Firmus on demand and in the currency in which the same shall have been made, suffered or incurred by Firmus there under or in consequence thereof arising thereout and I irrevocably authorize Firmus (without prejudice to any other rights that Firmus may have) to debit my account or any of my accounts with you all such payments, losses, costs and expenses whether such account or accounts is or are over drawn by reason of any such debit.
    8. I hereby confirm that Firmus shall not be liable to me or any other person where:
      • I have entered incorrect details and the payment is made to the wrong recipient;
      • I have exceeded transactional limits for transactions or I am acting outside of the authorized mandate;
      • My emails or WhatsApp chat are not received by Firmus from the above address or phone number
      • My hardware, software or internet provider’s service is not functioning properly
      • The transaction is suspicious fraudulent resulting in losses to the third party
      • The transaction details received do not contain the correct information;
      • My receipt of funds is intercepted by legal process or other encumbrance restricting transfer;
    9. Unforeseen circumstances prevent the execution of a request by Firmus despite any reasonable precautions taken by Firmus. Such circumstances may include but are not limited to acts of God, power outages, fire, flood, theft, equipment breakdowns, internal mechanical malfunction or Firmus system delays or failure. This Agreement shall be governed by and construed in accordance with the Laws of the Federation of Nigeria.
    10. I hereby agree to adhere to the procedures or restrictions imposed by Firmus with regards to the issuance of email or WhatsApp instructions to Firmus.

    TERMS AND CONDITIONS

    I hereby agree to the following terms and conditions under this Agreement

    1.0 ACCOUNT OPENING

    1.1 FirmusMFB is authorized to open an account in my name and at any time subsequently open further accounts as I may direct.
    1.2
    FirmusMFB reserves the right to decline my account application or accept my money if I am unable to provide the Bank with any of the information required or for any other reason. FirmusMFB is not obliged to inform me of the reason my application was declined and the Bank shall not enter into any correspondence in these circumstances.

    2.0 E-BANKING SERVICES

    2.1 To be availed the bank’s E-banking Services, I must have any one or a combination of the following:
    a. An account with the bank
    b. A pass code, access code, username, password or Token
    authenticators.
    c. A Personal Identification Number “PIN”
    d. An E-mail address
    e. Mobile Number
    2.2
    FirmusMFB may issue me Personal Identification Numbers (PINs) or other security information (for example details that grant me access to my accounts through the Bank’s Internet Banking Service). I must not disclose your security information to anyone else and I must take reasonable steps to keep it secure.
    2.3 I understand that my Pass code/Access code/Password/Email/Mobile Number shall be used to give instructions to the Bank and accordingly undertake:
    a. That under no circumstance shall the Pass code/PIN/Access Code/Password be disclosed to anybody.
    b. Not to write the Pass code, Access Code / Password in an open place in order to avoid a third party coming across same.
    c. To instruct and authorize the Bank to comply with any instruction given to the Bank through the use of the service.
    d. That once the Bank is instructed by means of the customer’s Pass code without my authorization, I shall immediately change my Pass code/Access code/Password/Email/Mobile Number if it becomes known or I suspect that it has become known to someone else.
    f. That
    FirmusMFB shall be exempted from any form of liability whatsoever for complying with any or all instruction(s) given from my Pass code/Access code/Password/E-mail/Mobile Number if by any means the Pass code/Access code/Password/E-mail/Mobile Number becomes known to a third party.
    g. That where
    FirmusMFB is notified of my intention to change my Pass code/Access code/Password/E-mail/Mobile Number arising from loss of memory of same or that it has come to the notice of a third party, the Bank shall, with my consent, delete same and thereafter allow me to enter a new Pass code/Access code/Password/E-mail/Mobile Number PROVIDED that the Bank shall not be responsible for any loss that occurs between the period of such loss of memory of the Pass code/Access code/Password/Email/Mobile Number or knowledge of a third party and the time the report is lodged with the Bank.
    h. That once my Pass code/Access code/Password/Email/Mobile Number is given or used to give any instruction, it shall be deemed sufficient confirmation of the authenticity of the instruction given.
    i. That I shall be responsible for any instruction given by means of my Pass code/Access code/Password/E-mail/Mobile Number. Accordingly, the Bank shall not be responsible for any fraudulent, duplicate or erroneous instruction given by means of my Pass code/Access code/Password/Email/Mobile Number.
    2.4 Customer’s responsibilities
    a. I undertake to be absolutely responsible for safe-guarding my username, access code, Pass code, PIN and password and under no circumstance shall I disclose any or all of these to any person.
    b.
    FirmusMFB is expressly exempted from any liability arising from unauthorized access to my account and/or date as contained in the Bank’s records via the service, which arises due to my inability and/or otherwise to safeguard my PIN/Pass code/Access code/Password and/or failure to log out of the system completely by allowing on screen display to this account information.
    c.
    FirmusMFB is further relieved of any liability as regards breach of duty of secrecy arising out of my inability to scrupulously observe and implement the provisions of clause 2.3 above, and/or instances of breach of such duty by hackers and other unauthorized access to my account via the service.
    2.5 Under no circumstance shall
    FirmusMFB be liable for any damages, including without limitation direct or indirect, special, incidental or consequential damages, loses or expenses arising in connection with this service or use thereof or inability to use by any party, or in connection with any failure of performance, error, omission, interruption, defect, delay on operation, transmission, computer virus or line or system failure even if the bank or its representatives therefore are advised to the possibility of such damages, losses or hyperlink to other internet resources are at my risk.
    2.6 Copyright in the cards and other proprietary information relating to the service including the screens displaying the pages and in the information and material therein and agreement is owned by the Bank.
    2.7
    FirmusMFB shall not be responsible for any electronic virus or viruses that I may encounter in the course of making use of this service.
    2.8
    FirmusMFB makes no warranty that:
    a. The e-banking service will meet my requirements;
    b. The e-banking service will be uninterrupted, timely, secure, or error free;
    c. The results that may be obtained from the use of the service will be accurate or reliable;
    d. The quality of any products, services, information or other material purchased or obtained from the use of the service shall be accurate or reliable;
    e. Any errors in the technology will be corrected .

    3.0 LIABILITY FOR REFUNDS

    3.1 Generally, where I inform the Bank without undue delay and at least no later than 6 months after a payment is taken from my account, that a payment from my account was not authorised by my, the Bank shall carry out an investigation and, once reasonably satisfied that I did not authorise the payment, the Bank shall refund the amount deducted and will return my account to the position it would have been in if the unauthorised payment had not taken place.
    3.2 However, I shall be liable for:
    a. All payments made from my account where I have acted fraudulently; and
    b. All payments on my account(s) that take place before I inform
    FirmusMFB that a payment instrument has been lost or any of your security information has become known to someone else, if the payment was made because I deliberately, negligently or very carelessly failed to keep my payment instrument safe or my secret information secret. After I have informed the Bank, I shall not have any further liability for unauthorized payments, unless Condition (a) applies.
    3.3
    FirmusMFB shall not be liable to me for any losses suffered or costs incurred because:
    a. The Bank does not act on an instruction for any reason specified in this agreement;
    b. The details contained in the instruction were not correct;
    c. The Bank is precluded from carrying out its responsibilities under this agreement as a result of anything beyond the its control. This may include, among other things, any machine, electronic device, hardware or software failing to work or being down for a period, industrial disputes and complete or partial closure of any payment system.
    3.4 Unless Conditions 3.2 or 3.3 apply, or a different level of liability is imposed by law, the Bank shall be liable to me for any loss, injury or damage caused to me as a result of any failure or delay in carrying out your payment instruction, but shall not be liable to me in any circumstances for: loss of business, loss of goodwill, loss of opportunity, loss of profit; or any loss to me that the Bank could not reasonably have anticipated when I gave an instruction under this agreement.
    3.5 If
    FirmusMFB receives notice of a court order or a court judgment against me (or, if I have a joint account, any other account holder), the Bank may refuse to allow withdrawals or transfers from my account until the legal process comes to an end. Any court order or court judgment will not prevent the Bank from using any right of set-off it may have (using money which the Bank holds for me, or which is due to me, to pay debts I owe the Bank) or enforcing any other ‘security interest’ (a right over something which the Bank can take if debts are not paid). I am responsible for an amount which represents a reasonable assessment of any losses, costs or expenses the Bank has as a direct result of any dispute or legal action with me or someone else involving my account (including, without limitation, where we require legal advice because the Bank is or may become concerned or involved in a dispute by reason of the Bank’s relationship with me).

    4.0 CLAIMS

    4.1 If another person makes a claim for any of the funds in my account (for example, if someone takes legal action to recover funds they believe belong to them), or if the Bank knows or believes that there is a dispute involving someone else who owns or controls funds in the account, the Bank may:
    a. Put a hold on my account and refuse to pay out any funds until the Bank is satisfied that the dispute has been resolved;
    b. Send the funds to the person who the Bank has good reason to believe is legally entitled to them;
    c. Continue to rely on the current records the Bank holds about me; apply for a court order; or take any other action necessary to protect the Bank.
    4.2 Where the Bank acts reasonably, the Bank shall not be liable to me for taking any of the above steps.

    5.0 SET-OFF

    5.1 If any my accounts with FirmusMFB is in credit, the Bank may use them to repay any amounts I owe FirmusMFB including but not limited to sums due on any other accounts I hold with FirmusMFB either in the same name(s) or in the case of corporate accounts, its affiliate, subsidiary or sister company’s accounts (whether or not in the same name), even if the accounts are in different currencies.
    5.2 Where I also have an account with
    FirmusMFB in a joint name, and that account has a credit balance, FirmusMFB can set-off these monies against any money owed to the Bank in the joint account even if the accounts are in different currencies.

    6.0 BANK CHARGES

    6.1 Charges shall apply for the operation of the account in accordance with the Bank’s Standard Tariff. FirmusMFB reserves the right to levy any reasonable charges for additional services in relation to managing my account in addition to those stated in the Standard Tariff or for providing me with more frequent information regarding the operation of my account.
    6.2
    FirmusMFB may take any charges or interest I owe the Bank from any account I hold with FirmusMFB.
    6.3
    FirmusMFB may vary these charges from time to time.

    7.0 STATEMENTS

    7.1 FirmusMFB shall make a statement available each month there are payments on the account; as well as provide a statement via mail, paper request will be available on request (which attracts a charge) or any other durable medium at a frequency agreed with me. This shall be sent to the last known recorded address the Bank holds and shall contain details of all transactions through the account since the previous statement issued to me.
    7.2 There may be a charge if more frequent statements are requested.
    7.3 Where the account has not been in use over a period,
    FirmusMFB shall continue to send out statements unless previous statements have been returned. I shall be responsible to carefully check all transactions on the statement(s) and advise FirmusMFB as soon as possible of any discrepancies without undue delay but in any event no later than 12 months after the date of any discrepant transaction. Where the Bank requires investigation into a transaction on my account, I shall give my full co-operation with the Bank and the police, if involved. FirmusMFB may disclose information about me or my account to the police or other third parties should there be any need to help the Bank prevent or recover losses.
    7.4 As a Firmthrift customer, for any cash deposits I make with
    FirmusMFB by pick up from an account officer of FirmusMFB, I shall be duty bound to check and confirm that I have received an alert with regards to my deposit. When I do not receive alert I shall inform FirmusMFB via chat with TINI 09059890403 or e-mail customercare@firmusmfb.com for complaints or clarification.
    7.5 I agree to indemnify FirmusMFB in any circumstance for: loss of business, loss of goodwill, loss of opportunity, loss of profit or any loss that I may suffer in relation to my failure to comply with Clause 7.4 above.

    8.0 ACCOUNT CLOSURE

    8.1 This agreement shall continue until it is rescinded by myself or the Bank.
    8.2
    FirmusMFB reserves the right to close the account and to end this agreement if the Bank, at its absolute discretion, considers that it has not been operated in a manner satisfactory to the Bank, or the Bank believes that I have contravened any of these terms and conditions.
    8.3
    FirmusMFB reserves the right to close my account without notice and to end this  agreement immediately in exceptional circumstances such as if the Bank reasonably believes that:
    a. I am not eligible for an account;
    b. I have given any false information at any time;
    c. I, or someone else, uses the account illegally or for criminal activity;
    d. It is inappropriate for a person authorized to give instructions on my account to operate it;
    e. My behaviour means that it is inappropriate for the Bank to maintain my account;
    f. I have not met my reasonable conditions and requests relating to identification and the provision of information about me and the activity (past, present or future) on any account or proposed account;
    g. By maintaining my account the Bank might break a law, regulation, code or other duty which applies to the Bank;
    h. By maintaining my account the Bank may encounter reputational damage; or
    i. I am or have been in serious or persistent breach of these terms and conditions or any additional conditions which apply to an account.
    8.4
    FirmusMFB shall give one weeks’ notice to close the account and to end this agreement unless there are circumstances (such as the above) that justify closure on a shorter or no notice.
    8.5
    FirmusMFB may choose not to close my account and to end this agreement until I have repaid any money I owe the Bank.
    8.6 In the event that my account is closed I shall be responsible for canceling any direct payments to or from my account. Where someone attempts to make a payment into an account which has been closed, the Bank shall take reasonable steps to return the  payment to the sender.
    8.7 All parties to a joint account must request the closure of the account before the Bank may act on any instructions for the disposal of the funds in the account.
    8.9 Before any funds are returned to me, I shall furnish the Bank with identification requirements. Any funds returned shall be remitted either to the account from which they
    were sent or to an account held in my name or by a manager’s cheque in my name. No other third-party remittances shall be permitted.

    9.0 DORMANT ACCOUNTS

    9.1 An account is dormant if no activity (other than interest and charges) has taken place on it for a continuous period of 6 months. To reopen same I shall submit fresh identification and Know Your Customer (KYC) documents.
    9.2 When an account becomes dormant
    FirmusMFB may write to me to ascertain if the account is still required and to obtain written confirmation from me of my mailing address. Where I do not provide a response, for security reasons, FirmusMFB may close the  account and hold the funds in a suspense account pending instructions from me.

    10. HANDLING OF PERSONAL INFORMATION

    10.1 FirmusMFB reserves the right to retain information about me even after the closure of my account, if the banking relationship has terminated, or if my application is declined or abandoned, for as long as permitted for legal, regulatory, fraud prevention and legitimate
    business purposes.
    10.2 Where I provide personal and financial information relating to others (e.g. dependants or joint account holders) for the purpose of opening or administering my account, I confirm that I have their consent or are otherwise entitled to provide this information to the Bank
    and for the Bank to use it in accordance with these terms and conditions.
    10.3 If asked to respond to a banker’s reference,
    FirmusMFB shall seek my written permission before it is given.
    10.4
    FirmusMFB may share information with persons acting as its agents who have  agreed to keep my personal information strictly confidential.

    11. ADDITIONAL TERMS AND CONDITIONS FOR FIXED TERM DEPOSITS

    11.1 In order to open any of the fixed term products with FirmusMFB, I shall make a minimum deposit, which shall be advised to me at the time that I wish to make the deposit.
    11.1 The Agreement shall enter into force and calculation of the term and interest shall start from the day the Deposit Amount is received in the account of
    Firmus as defined in the Agreement.
    11.2 No additional payments can be made, and no withdrawals can be made from the Deposit Amount.
    11.3
    FirmusMFB shall calculate interest in the Deposit Amount from the start date of the deposit until the expiry date of the deposit (excluded).
    11.4
    FirmusMFB shall calculate interest on the Deposit Amount  on the basis of per Annum Rate as agreed.
    11.5
    FirmusMFB shall pay the interest to the current account indicated by the Depositor on the expiry of the deposit, unless otherwise agreed in the agreement.
    11.6
    FirmusMFB has the right to offer the Depositor the option to request automatic extension of the deposit during the term of the Agreement, excl. in the case of deposits with agreed interest rates.
    11.7 In the case of automatic extension, the Agreement shall extend upon the arrival of the expiry date of the deposit by the same term under the terms and conditions effective in
    FirmusMFB at the extension
    11.8 The last day of the previous Deposit Period shall be the first day of the new Deposit Period and the interest rate valid for a deposit in the currency of the Deposit Amount and for the term corresponding to the Deposit Period as of the first day of the new Deposit Period.
    11.9
    FirmusMFB shall transfer the interest calculated for the previous Deposit period to the current account defined by the Depositor or ad it to the Deposit amount as specified in the agreement.
    11.10
    FirmusMFB The instruction to extend the term deposit automatically shall remain valid until the Depositor terminates it. The instruction must be submitted to FirmusMFB at least one business day before the automatic extension date of the deposit
    11.11 If the terms and conditions of term deposits effective at
    FirmusMFB at the time the deposit is extended do not allow for extending the deposit, FirmusMFB shall deem the automatic extension instruction as terminated and terminate the Agreement.
    11.12 The Depositor shall pay a service charge for the services associated with Agreement management pursuant to the price list of
    FirmusMFB
    11.13 The Depositor shall obtain information about the Deposit Amount and the interest paid out upon demand from FirmusMFB or regularly through phone calls. Depositors who do not use phone calls or go to the branch can demand statement of all transactions associated with the deposit that shall be issued to them free of charge at FirmusMFB twice every calendar year.
    11.14 We will pay net interest (interest with tax deducted) on the maturity date of your deposit if your deposit is for a period of one year or less. If your deposit is for a period greater than one year, interest will be paid annually on the anniversary of your deposit.
    11.15 The agreement has been entered into for a specified term and expires on the expiry date of the deposit
    11.16 On the expiry date of the deposit
    Firmus MFB shall transfer the deposit amount and the calculated interest to the current account defined in the agreement.
    11.17 The depositor shall submit the relevant application to
    Firmus MFB in order to terminate the agreement prematurely. Firmus MFB has the right in case of premature termination of the agreement to transfer the deposit amount to the current account defined in the agreement or the depositors within 3 (three) business days as of receipt of the application unless the depositor has specified a later date in the application
    11.18
    Firmus MFB has the right to terminate the agreement prematurely on the basis arising from law or the general terms and conditions of Firmus MFB.
    11.19
    Firmus MFB shall not pay interest in the case of premature termination of the Agreement and the depositor must give Firmus MFB at least 15 days’ prior notice before termination of such deposit.
    11.20
    Firmus MFB has the right to demand that the Depositor compensate Firmus MFB for the expenses caused by premature termination of the deposit. The expenses of premature termination of the deposit are the additional interest expenses of Firmus MFB arising from refinancing the period between the date of premature termination and the initially agreed expiry date of the deposit, which Firmus MFB should have paid the Depositor for the remaining part of the deposit period if the deposit had not been prematurely terminated. Additional interest expenses are calculated on the basis of the difference in the interest rate quoted for the relevant currency for the relevant period and the initial agreed interest rate.
    11.21 The Depositor shall compensate
    Firmus MFB for the expense of premature termination of the deposit to the extent in which it exceeds the interest calculated
    for the deposit until the day of its premature expiry.
    11.22
    Firmus MFB has the right to withhold the interest expenses caused by premature termination of the deposit from the deposit amount to the paid out. Firmus shall present the calculation of the interest to depositor if requested by the latter.
    11.23 The Depositor shall give
    FirmusMFB a 24-hour notice of in the event that the Depositor wishes to pre-liquidate the said investment

    12. OTHER GENERAL TERMS

    12.1 This agreement with FirmusMFB is in English and shall be governed by the laws of the Federal Republic of Nigeria. The courts of Nigeria may deal with any claim, dispute or difference arising from this agreement.
    12.2 The terms and conditions of this Agreement shall only be enforceable by me.

    13. CHANGES TO TERMS AND CONDITIONS

    13.1 FirmusMFB may, at its discretion, change these terms and conditions (including charges and interest rates) and introduce changes to and charges for the Bank’s services at any time.

    14. CONTACTS

    14.1 FirmusMFB shall either by telephone or e-mail (which in these terms and conditions includes the internet and any form of electronic message made by any type of electronic device) contact me using the latest address, telephone number or electronic mail address
    I provide.
    14.2
    FirmusMFB reserves the right not to disclose any information until the Bank is satisfied that I have been satisfactorily identified.
    14.3
    FirmusMFB may record or monitor telephone calls and monitor electronic communications (including emails) with me so as to check instructions and make sure that the Bank meets the set service standards.
    14.4
    FirmusMFB reserves the right to send all communications to the mobile number of e-mail address I provide while opening this account.
    14.5 I am responsible for advising
    FirmusMFB as soon as possible of any changes to my name, mobile number, usual residential address (and appropriate updated address verification) and email address and ensuring that all information held about me is up to date. I shall do this by writing to my account domicile office.
    14.6
    FirmusMFB shall continue to send information to me at the last known address, e-mail address or mobile number I provide; where I do not promptly inform the Bank of a change in my details.

    (ADDITIONAL TERMS AND CONDITIONS FOR DUAL CITIZENSHIP
    HOLDERS AND/OR DUAL RESIDENCE HOLDERS)

    I hereby irrevocably and unconditionally request and authorize the Bank to disclose my account details, transaction and confidential information on my account to the United States Internal Revenue Service or European Union or any other entity or regulator whether international or local as may be requested from time to time without further recourse to me. I hereby irrevocably and unconditionally authorize the Bank to comply without further recourse to me with such instructions and directive as may be issued by the United States Revenue Service or European Union or any other regulator having authority over the country or jurisdiction where I reside or am nationalized. Such directives include without limitation deducting any sum on my account or withholding any payment on my account or made on my behalf and freezing my account without any need for any order of court. Consequently, I hereby irrevocably and unconditionally indemnify and hold the Bank, its officers, directors, employees and agents harmless against all claims, costs, liabilities, actions, demands, damages, losses or expenses which they may suffer as a result of compliance with any such regulation or law or requirements as stated above.