Common use of Account Suspension Clause in Contracts

Account Suspension. i. Finductive may pronounce the temporary and immediate suspension of a Payment Account for any reason, up to Finductive’s discretion, particularly:  if the Account Holder is in violation of this Contract;  if the Account Holder has provided Finductive with inaccurate, expired or incomplete identification information;  if the Account Holder does not comply with a request by Finductive for further documentation in support of a Payment Transaction or update of Customer Due Diligence documentation;  in the event of a risk of fraud, money laundering or financing of terrorism or a risk that may affect the Payment Account’s security;  if the Account Holder is in default of any payment due to Finductive, which is not remedied within fourteen (14) days of notification in writing by Finductive informing the Account Holder of such default;  in the event that Finductive receives a significant number of repayments or Payment Order cancellations or disputes against non-authorised Payment Orders

Account Suspension. i. Finductive may pronounce the temporary and immediate suspension of a Payment Account for any reason, up to Finductive’s discretion, particularly:  • if the Account Holder is in violation of this Contract;  • if the Account Holder has provided Finductive with inaccurate, expired or incomplete identification information;  • if the Account Holder does not comply with a request by Finductive for further documentation in support of a Payment Transaction or update of Customer Due Diligence documentation;  • in the event of a risk of fraud, money laundering or financing of terrorism or a risk that may affect the Payment Account’s security;  • if the Account Holder is in default of any payment due to Finductive, which is not remedied within fourteen (14) days of notification in writing by Finductive informing the Account Holder of such default;  • in the event that Finductive receives a significant number of repayments or Payment Order cancellations or disputes against non-authorised Payment Orders

Account Suspension. i. Finductive may pronounce the temporary and immediate suspension of a Payment Account for any reason, up to Finductive’s discretion, particularly:  • if the Account Holder is in violation of this Contract;  Contract • if the Account Holder has provided Finductive with inaccurate, expired or incomplete identification information;  information • if the Account Holder does not comply with a request by Finductive for further documentation in support of a Payment Transaction or update of Customer Due Diligence documentation;  Documentation • in the event of a risk of fraud, money laundering or financing of terrorism or a risk that may affect the Payment Account’s security;  security • if the Account Holder is in default of any payment due to Finductive, which is not remedied within fourteen (14) days of notification in writing by Finductive informing the Account Holder of such default;  default • in the event that Finductive receives a significant number of repayments or Payment Order cancellations or disputes against non-authorised Payment Orders

Account Suspension. i. Finductive may pronounce the temporary and immediate suspension of a Payment Account for any reason, up to Finductive’s discretion, particularly:  if the Account Holder is in violation of this Contract; Contract  if the Account Holder has provided Finductive with inaccurate, expired or incomplete identification information; information  if the Account Holder does not comply with a request by Finductive for further documentation in support of a Payment Transaction or update of Customer Due Diligence documentation; Documentation  in the event of a risk of fraud, money laundering or financing of terrorism or a risk that may affect the Payment Account’s security; security  if the Account Holder is in default of any payment due to Finductive, which is not remedied within fourteen (14) days of notification in writing by Finductive informing the Account Holder of such default; default  in the event that Finductive receives a significant number of repayments or Payment Order cancellations or disputes against non-authorised Payment Orders

Account Suspension. i. Finductive may pronounce the temporary and immediate suspension of a Payment Account for any reason, up to Finductive’s discretion, particularly:  • if the Account Holder is in violation of this Contract;  Contract • if the Account Holder has provided Finductive with inaccurate, expired or incomplete identification information;  information • if the Account Holder does not comply with a request by Finductive for further documentation in support of a Payment Transaction or update of Customer Due Diligence documentation;  Documentation • in the event of a risk of fraud, money laundering or financing of terrorism or a risk that may affect the Payment Account’s security;  security • if the Account Holder is in default of any payment due to Finductive, which is not remedied within fourteen (14) days of notification in writing by Finductive informing the Account Holder of such default;  default • in the event that Finductive receives a significant number of repayments or Payment Order cancellations or disputes against non-authorised non‐authorised Payment Orders