Liability of PCSIL for the non Sample Clauses

Liability of PCSIL for the non execution or defective execution of payment orders or delay of a payment order

Liability of PCSIL for the non execution or defective execution of payment orders or delay of a payment order. In the payment orders initiated by the payer, PCSIL will be responsible against the User for the correct execution of the payment operations ordered by the latter, unless it is demonstrated that the beneficiary's payment service provider receives the amount of the payment transaction, in which case it will be responsible. If PCSIL were responsible in accordance with the above, it will return to the User, without undue delay, the amount corresponding to the operation, re-establishing, where appropriate, the balance of the payment account to the situation in which it would have been if it had not had place the defective payment transaction. The value date of the payment of this in the User's account may not be later than the date on which the amount was debited. If the User acts as a beneficiary, PCSIL will immediately make the amount corresponding to the payment transaction available to them and, where appropriate, will pay the corresponding amount to their account. The value date of the credit in the holder's payment account will not be later than the date on which the amount was debited. When a payment transaction is executed late, the beneficiary's payment service provider will ensure that, upon request from the payer's payment service provider, the value date of the credit in the beneficiary's payment account is no later than the date in which the amount would have been attributed in case of correct execution of the operation. When the User acts as the originator of the payment operation, PCSIL, upon request and regardless of the responsibility that is determined, will immediately try to trace the payment operation and notify the originator of the results. PCSIL will not charge any expenses to the payer for this. In payment orders initiated by User as beneficiary, PCSIL will be responsible for the correct transmission of the others to the payer's payment service provider and must immediately return the payment order to the payer's payment service provider. When the transmission of the payment order is made late, the value date corresponding to the payment of the amount of the User's payment account will not be later than the value date that was attributed to the amount in case of correct execution of the operation. PCSIL will ensure that the amount of the payment transaction is available to the beneficiary immediately after said amount is credited to their own account. The v...