Common use of Cancellation and Recall of Payment Orders Clause in Contracts

Cancellation and Recall of Payment Orders. Finductive will only be able to cancel Payment Orders when the Payment Order has not yet been processed internally. Should the Account Holder wish to cancel a Payment Order and should the Payment Order not have been processed by the time the cancellation order is received, Finductive will cancel the Payment Order and apply a cancellation Fee as set out in the Pricing Schedule. The Account Holder may cancel the Payment Order by sending an instruction to do so through the Portal. Payment return instructions cannot be cancelled. Such cancellation/recall might also depend on our third-party service providers and thus Finductive cannot guarantee that such cancellation/recall will be successful. Finductive shall not be held liable for any failed cancellation / recall request.