Article 113
| 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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If the payment system operator takes action under the payment system default management arrangements against any member, SAMA may direct the payment system operator to provide information regarding the default event to any employee designated by SAMA. The designated employee shall be held responsible for evaluating and examining any issue arising from or in relation to the member's default in the payment system. The responsibilities of members for any loss resulting from the default of the relevant member and the arrangements for dealing with any disputes regarding the members’ responsibilities regarding the transactions subject to default shall be specified in the rules and procedures, and any of these disputes shall be subject to the dispute-related provisions contained in the Law and Regulations.