Common use of Non-executed Clause in Contracts

Non-executed. or incorrectly executed or late payment operations If a payment order is initiated by the Customer through a payment initiation service provider, and to the extent that the Customer complies with the conditions laid down under point 5.10.1. and 5.10.2. above, regarding the payment operations within the scope of the Law on payment services, the Bank shall reimburse the Customer, under the conditions laid down by the Law on payment services, the amount of the non-executed or incorrectly executed payment and, as applicable, shall restore the payment account debited in the situation that it would have been in, if the defective payment operation had not taken place. In such case, the Bank is entitled to address the payment initiation service provider, with the latter having the legal obligation to prove that the payment order was received by the Bank, in compliance with the provisions of the Law on payment services, as well as that, within the limits of its competence, the payment transaction was authenticated, correctly registered and was not affected by a technical failure or other deficiencies related to the non-execution or incorrect or late execution of the operation. In this context, the Customer shall cooperate with the Bank and shall provide the relevant information he/she holds, in order to support the Bank's efforts to get compensated for all losses incurred or amounts paid following the reimbursement granted to the Customer.