Common use of Inquiries concerning Transaction Details Clause in Contracts

Inquiries concerning Transaction Details. (1) When the applicant has any concerns concerning the remittance transaction such as the remitted funds not being paid to the payee after the request for remittance was made, the applicant shall promptly make an inquiry with the office that accepted the request for remittance (hereinafter referred to as the "Office in Charge"). The Bank shall then conduct an investigation such as inquiring with the Banks Concerned and reporting the results thereof to the applicant. When the Bank receives inquiries, the applicant shall submit an application for inquiry as prescribed by the Bank, upon the request of the Bank. (2) Where the Banks Concerned make any inquiries with respect to the payment order issued by the Bank, the Bank may inquire with the applicant as to the substance of the request for remittance. In such an event, the applicant is requested to respond promptly. If a response is not made within a reasonable period of time or an inappropriate response is made, the Bank shall not be responsible for any losses or damages caused thereby. (3) In the event that it becomes apparent that remittance is not possible with respect to the payment order issued by the Bank due to reasons such as refusal of the payment order by the Banks Concerned, the Bank shall promptly notify the applicant of the same. Should the Bank receive any refund relating to the remittance from the Banks Concerned, the Bank shall immediately repay such amount to the applicant. In such an event, the applicant shall take certain procedures as prescribed by the Bank, in line with the cancellation procedures provided for in Article 11 which shall apply mutatis mutandis.

Inquiries concerning Transaction Details. (1) When the applicant has any concerns concerning the remittance transaction such as the remitted funds not being paid to the payee after the request for remittance was made, the applicant shall promptly make an inquiry with the office that accepted the request for remittance (hereinafter referred to as the "Office in Charge"). The Bank shall then conduct an investigation such as inquiring with the Banks Concerned and reporting the results thereof to the applicant. When the Bank receives inquiries, the applicant shall submit an application for inquiry as prescribed by the Bank, upon the request of the Bank. (2) Where the Banks Concerned make any inquiries with respect to the payment order or the demand draft issued by the Bank, the Bank may inquire with the applicant as to the substance of the request for remittance. In such an event, the applicant is requested to respond promptly. If a response is not made within a reasonable period of time or an inappropriate response is made, the Bank shall not be responsible for any losses or damages caused thereby. (3) In the event that it becomes apparent that remittance is not possible with respect to the payment order or the demand draft issued by the Bank due to reasons such as refusal of the payment order by the Banks Concerned, the Bank shall promptly notify the applicant of the same. Should the Bank receive any refund relating to the remittance from the Banks Concerned, the Bank shall immediately repay such amount to the applicant. In such an event, the applicant shall take certain procedures as prescribed by the Bank, in line with the cancellation procedures provided for in Article 11 which shall apply mutatis mutandis.