THE DUTY OF CARE OF BANKS UNDER THE LAWS OF THE NETHERLANDS ANTILLES AND ARUBA
Banks have an obligation to exercise due care
In the Netherlands Antilles and Aruba, no separately defined body of law exists with regard to the relationship between a bank and its customer. The standard general terms and conditions applied by banks in the Netherlands Antilles and Aruba have an important function in the legal relationship between banks and their customers. They enter into effect once explicitly or implicitly accepted by the customer.
According to most general conditions “in all dealings resulting from its relations to clients, the Bank acts in accordance with the existing provisions, customs and regulations in respect thereto at the time and place of those dealings.”
This provision together with the requirements of reasonableness and fairness (‘good faith’) impose an obligation on the Bank to exercise due care in all transactions with the customer.
Karel Frielink
Attorney (Lawyer) / Partner
