Book traversal links for 7.8. Returns by the Receiving Direct Participant
7.8. Returns by the Receiving Direct Participant
No: 42068309 | Date(g): 5/5/2021 | Date(h): 24/9/1442 | Status: In-Force |
Effective from 2021-05-05 - May 04 2021
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In case a Payment Message couldn't be credited to the Beneficiary Customer, The Receiving Direct Participant - unless advised otherwise by SAMA - should return to the Sending Direct Participant as soon as possible, preferably within the same business day. If the payment cannot be returned on the same business day, it should be returned before the cut-off time for that type of payment on the next business day or within 2 business days at the latest without liability for use of funds compensation; abiding by the return rules prescribed in 7.8 & using the same exchange rate and currency amounts as in the original received payment with no deductions.