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Article 80

No: 000044093096 Date(g): 13/6/2023 | Date(h): 24/11/1444 Status: In-Force

Translated Document

Effective from Jun 13 2023 - Jun 12 2023
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  1. The payer's payment service provider assumes the responsibility for the proper execution of the payment transaction vis-à-vis the payer, unless he proves - within a reasonable period - that the payment transaction was properly executed to the payee's payment service provider and proves the same to the payer and to the payee's payment service provider.
  2. If the responsibility referred to in the foregoing paragraph is assumed by the payer’s payment service provider, he shall immediately refund the amount of the non-executed or erroneous payment transaction to the payer and shall restore the debit payments account to the state it was in as if the erroneous payment transaction had not been executed.
  3. When a payment transaction is executed late, the payee’s payment service provider shall - based on a request from the payer’s payment service provider - adjust the date of depositing the amount of the payment transaction to a date similar to the date the payment transaction was properly executed.