The Telegraph reports of a Russian gentleman who didn't like the standard terms and conditions that one bank was offering, so decided to play things his own way.
Dmitry Agarkov from Russia then scanned in the contract, amended the wording, signed it and sent the new version back to Tinkoff Credit Systems. In return, they issued him a credit card and even included a photocopy of their signature on his new contract.
The amendments included:
- No credit limit
- 0% interest
- No fees
- Every time Tinkoff breached the amended agreements, they would be liable to pay 3 million Rubles (€68,412)
- If Tinkoff tried to cancel the contract, they would have to pay 6 million Rubles (€136 824).
Tinkoff had not bothered to read what was written, and simply signed it away. So when Tinkoff tried to sue Agarkov for fees that were not in his amended contract, it came as no surprise that the Russian Court ruled in Agarkov's favour, as the contract was legally binding.
The Court did rule that Agarkov should pay the outstanding balance of 19 000 Rubles (€433) in his account, but this is much less than the 45 000 Rubles (€1026) in fees being demanded in the first place. Agarkov is now suing the bank for 24 million Rubles (€547 296) for not honouring their side of the contract. Tinkoff is countersuing and accusing Agarkov for fraud. The two cases are yet to be reviewed.
So there's a lesson for us all to learn. If you don't like what you see in a business transaction, try to negotiate things your way. Who knows, maybe the other party will agree to everything you asked for!
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