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.
The Payee’s Payment Service Provider is liable to the Payee for the correct transmission of the Payment Services Order initiated by the Payee to the Payer’s Payment Service Provider and where it does so incorrectly, it shall immediately re-transmit the relevant Payment Services Order correctly.
(2)
The Payee’s Payment Service Provider must ensure that the Payment Transaction is handled, given the fact that the value of the payments process was deposited into the payment account of the Payee on the date of the transaction properly and in a timely manner.
(3)
The Payer’s Payment Service Provider is liable to the Payer if the Payee’s Payment Service Provider proves to the Payee and the Payer’s Payment Service Provider that it is not liable in respect of a non-executed or defectively executed Payment Transaction.
(4)
If the Payer’s Payment Service Provider proves that the Payee’s Payment Service Provider has received the amount of the Payment Transaction, it is for the Payee’s Payment Service Provider to value date the amount on the Payee’s Payment Account as if the transaction had been executed correctly.
