GENERAL TERMS AND CONDITIONS-TELEBET MEMBERSHIP
The following are the Terms and Conditions governing telebet membership with Manila Jockey Club, Inc. (thereafter referred to as "Club"):
1. OPENING BALANCE- The initial member's cash deposit to the Club shall not be less than one thousand pesos (P1, 000.00).
2. MINIMUM BALANCE-There is no minimum balance required to be maintained. However, a bet can be only made to the extent of the current balance kept by the member.
3. OPERATION OF MEMBERSHIP FILE- To transact business other than through the telephone with the use of PIN Number, the signature of the member or his/her above named authorized signatures is required.
4. DEPOSITS- Cash deposits to the Club may be made at the Club's cashier's office during business hours, any MJCI OTB or any MJCI accredited banks. Checks shall only be credited after verification by the Club. Checks will be accepted on collection basis and may be used only after the prescribed reglamentary-clearing period. As general rule, no second endorsement checks shall be accepted as deposits.
5. WITHDRAWALS- Withdrawal of deposits/winnings may be made at the Club's cashier's office.
6. WINNINGS- Winnings can be claimed at the same office. Members can also open an account at any selected MJCI accredited banks for transfer of funds/winnings.
7. SERVICE FEES/ PENALTIES- There are no service charges or membership fees required. Likewise, no interest is paid on deposits made to the Club.
8. DORMANT MEMBERSHIPS- Telebet membership which becomes inactive, (i.e. there have been no deposits/ withdrawals or betting transactions for six (6) months) shall be considered dormant and shall be requested to be closed. The remaining balance shall be withdrawn to the member less whatsoever outstanding obligation the members have with the Club.
9. ASSIGNMENT OF DEPOSITS- the member shall not assign or pledge deposits or balances as collateral for any obligation other to discharge his obligations to the Club.
10. CLUB LIEN AGAINST DEPOSITS_ the Club shall have a lien against the balance of the deposits for any obligation of the member due the Club and the same may be collected from the said balance or off-setted against each other.
11. CHANGE OF ADDRESS-The member shall promptly notify the Club in writing of any change of address. Failure to do so shall not render the Club liable to any damages whatsoever incurred by the member.
12. DISPUTED BETS- In the event of a bet being disputed, the voice recording on the bet made will be replayed to ascertain the validity of the dispute. Such dispute must be lodged within 21 days.
13. TERMINATION OF TELEBET MEMBERSHIP- The Club reserves the right to terminate without prior notice any membership due to mishandling of deposits through the issuance of unfunded or insufficiently funded checks, fraud and other illicit activities whether directly connected with horse racing or not. The Club thereupon, shall serve notice of termination to the member and make a report to the Games and Amusement Board (GAB) and other agencies concerned. The Club and its officers and employees are free and harmless from all liabilities, claims and demands arising from or in connection with the termination of the telebet membership.
14. STATEMENT OF DEPOSITS/ WITHDRAWALS- A statement of deposits/ withdrawals can be made for the Telebet Member upon request to the Telebet Administrator.
Furthermore, the Club shall not be held liable for bets made by other persons if the correct PIN number was used. Inquiries shall be entertained in person or with authorized representative at the Cashier's Office during business hours during MJCI race meetings.
15. CONFIDENTIALITY - The Club will take all necessary precautions to ensure the confidentiality of the member's transactions.
16. TELEBET RULES AND PROCEDURES- The member agrees with the Club's Telebet Rules and Procedures and to be bound by the same. The member further agrees that the Club may at its sole discretion; amend the Telebet Rules and Procedures without prior notice. The member is understood to have accepted the above Terms and Conditions and any other additional rules and regulations which the Club may subsequently prescribe from time to time, subject to compliance with the applicable rules and regulations of governing regulatory bodies and subject further to due notice to the members |