Common use of SUSPEND A PAYMENT TRANSACTION Clause in Contracts

SUSPEND A PAYMENT TRANSACTION. 15.1. You agree that Oro Pay may suspend a payment transaction, which based on available information at the time, can be reasonably deemed as above acceptable risk levels. Should Oro Pay take such action, you will be notified. 15.2. Should the thread of excess risk be eliminated, Oro Pay will lift the suspension allowing the payment to transaction to be concluded. If the suspension is for purposes other than acceptable risk levels or transaction risk, but rather relates to action taken as per sections above, Oro Pay may continue the suspension until the disputed matter is resolved. 15.3. Oro Pay has the right to close the account and terminate the agreement if the Client objects to the suspension. The Client also has the right to close the account if he/she objects to the suspension. You agree that Oro Pay may reasonably request that you provide additional information that will either reduce or eliminate the risk that is causing the suspension. If you refuse to provide such information, Oro Pay has the right to close your account and terminate the agreement. In case of account closure, Oro Pay may block an amount equal to the amount relating to the payment transaction under scrutiny, in order to cover for any potential obligations resulting from the transaction. 15.4. In order to be compliant with its anti–money laundering obligations, Oro Pay may require you to provide additional information that may amongst others relate to your identity and potentially financial status. Such information is substantially more than what a Client is asked to provide when opening an account based on a framework contract. You agree that you will comply with such requests and provide Oro Pay with the details either by email, fax or any other means or form as may be required. Such details may include identification documents to confirm identity and place of residence, as well as (if needed) provide us at your own expense with information on your sources of income, and if you are a legal entity with details of your operations, and audited financial statement (or if not possible management accounts).