Your access and use of SAMA Regulatory Rulebook and its content is considered as an acceptance and approval of commitment by you without any limitation or condition to the following:
SAMA Regulatory Rulebook is a platform that aims to assist the regulated entities to access SAMA regulatory content adeptly and efficiently.
SAMA Regulatory Rulebook is still on its development and soft launch stage. SAMA is not liable for its contents and does not warrant or represent that (the Services related to the platform, information or material presented in the platform) is displayed free of any inaccuracies, omissions, or errors (“Faults”). SAMA accepts no liability for any loss, claim or damage resulting from any use of the platform, and any decisions made, or actions taken based on the information contained in or generated by the platform.
SAMA Regulatory Rulebook has no legal effect and it does not aim to amend or revoke any legal provisions. The Rulebook still Contains some documents under review, including translated versions. Therefore, SAMA Regulatory content circulated through SAMA official channels remains in force.
Without prejudice to the terms of use of SAMA website Hereby, you acknowledge that any illegal, unauthorized use and/or any breach of any of these provisions may result in legal actions against you.
Effective from Jun 13 2023 - Jun 12 2023 To view other versions open the versions tab on the right
(1)
A Payment Service User may not revoke a Payment Services Order after it has been received by the Payer’s Payment Service Provider.
(2)
The Payer may not revoke the Payment Services Order after giving Consent to the Payment Initiation Service Provider to initiate the Payment Transaction or giving Consent to execute the Payment Transaction to the Payee.
(3)
In the case of a Direct Debit, the Payer may not revoke the Payment Services Order after the end of the business day preceding the day agreed upon for debiting the Funds.
(4)
The Payment Service User may not revoke a Payment Services Order after the end of the business day preceding the agreed day to execute the order.
(5)
The Payment Services Order cannot be revoked after the expiry of the revocation period mentioned in this Article unless it’s agreed between the Payment Service User and the Payment Service Provider to revoke the order; or in the case of a Payment Transaction initiated by or through the Payee, including in the case of a Direct Debit, also agreed with the Payee.
(6)
A Payment Service User may not be charged for a revoked Payment Services Order unless the charge is stipulated in its contract with the relevant Payment Service Provider.
