Common use of Authorization of the Payment order Clause in Contracts

Authorization of the Payment order. IX.2.1 The Clients authorized persons, i.e., the Representative or the Authorized Signatory, must authorize the Client’s Payments before their execution by authenticating the Payment Order following the instructions provided below. In order to authorize the Payment, the Representative or the Authorized Signatory must: IX.2.1.1 use their own PIN; IX.2.1.2 before using (inserting) the Personalized Security Measures, always read the notice with purpose of the authorization attached to the SMS with the Personalized Security Measures. Continue with authorization only if the Representative or the Authorized Signatory agrees with and recognize the purpose of authorization; IX.2.1.3 use (insert) the Personalized Security Measures sent to mobile phone via SMS; IX.2.2 In case of failure to duly authorize the Payment, the Client shall be responsible for any and all damages in relation thereto. IX.2.3 We retain the right to block the Payment Account and/or the Personalized Security Measures temporarily or permanently due to reasons of security. The Client will be informed on such blocking via Client Primary Email, except the cases when the Applicable Laws prohibits Us to inform the Client. As soon as the ground for blocking expires, the blocking is removed. IX.2.4 We retain the right to demand the Client to perform additional actions to authenticate Payment Order. IX.2.5 Any and all authorizations performed by the Representative or the Authorized Signatory on behalf of the Client via the means of the System shall be deemed to be made by the Client itself, and shall have the same legal effect as the ordinary signature fixed on the hard copy of the document. Such authorization shall be considered as the appropriate means of proof evidencing that the Payment has been authorized, and, in such case, the Client shall not be entitled to contest such Payment. IX.2.6 In case the Funds were written off from the Payment Account and the Client did not authorize such Payment, We are obliged as soon as practically possible, however, not later than until the end of the Business day following the day when We became aware of such an unauthorised Payment to have been executed: IX.2.6.1 to refund the Client with the amount of such unauthorised Payment; and IX.2.6.2 to restore balance in Your Payment Account to such extent as if the Payment has not been executed; and/or IX.2.6.3 to ensure that the Client would suffer no damages in relation to failure pay or receive the interest on the certain term. IX.2.7 The Client must notify Us on all and any unauthorized Payments on the Client’s Payment Account in compliance with Para IX.3.20 below. IX.2.8 The Client shall not be entitled to contest the Payment transaction executed by Us, if the Payment Order has been duly authorized in the manner set out in this Section.

Authorization of the Payment order. IX.2.1 The Clients authorized persons, i.e., the Representative or the Authorized Signatory, You must authorize the Client’s Payments before their execution by authenticating the Payment Order following the instructions provided below. . IX.2.2 In order to authorize the Payment, the Representative or the Authorized Signatory You must: IX.2.1.1 IX.2.2.1 use their own Your PIN; IX.2.1.2 IX.2.2.2 before using (inserting) the Personalized Security Measures, always read the notice with purpose of the authorization attached to the SMS with the Personalized Security Measures. Continue with authorization only if the Representative or the Authorized Signatory agrees You agree with and recognize the purpose of authorization; IX.2.1.3 IX.2.2.3 use (insert) the Personalized Security Measures sent to mobile Your phone via SMS; IX.2.2 IX.2.2.4 always keep Your PIN and the Personalized Security Measures inaccessible to any third parties; IX.2.2.5 immediately inform Us about unauthorised use, theft, loss, or other misappropriation of Your PIN and/or the Personalized Security Measures. IX.2.3 In case of failure to duly authorize the Payment, the Client You shall be responsible for any and all damages in relation thereto. IX.2.3 IX.2.4 We retain the right to block the Payment Account and/or the Personalized Security Measures temporarily or permanently due to reasons of security. The Client You will be informed on such blocking via Client Your Primary Email, except the cases when the Applicable Laws prohibits Us to inform the ClientYou. As soon as the ground for blocking expires, the blocking is removed. IX.2.4 IX.2.5 We retain the right to demand the Client You to perform additional actions to authenticate Your Payment Order. IX.2.5 . Any and all authorizations performed by on the Representative or the Authorized Signatory on behalf of the Client via the means of the System Payment Account shall be deemed to be made by You (i.e., the Client itself, Client) and shall have the same legal effect as the ordinary signature fixed on the hard copy of the document. Such authorization shall be considered as the appropriate means of proof evidencing that the Payment has been authorized, and, in such case, the Client You shall not be entitled to contest such Payment. IX.2.6 In case the Funds were written off from the Payment Account and the Client You did not authorize such Payment, We are obliged as soon as practically possible, however, not later than until the end of the Business day following the day when We became aware of such an unauthorised Payment to have been executed: IX.2.6.1 to refund the Client You with the amount of such unauthorised Payment; and IX.2.6.2 to restore balance in Your Payment Account to such extent as if the Payment has not been executed; and/or IX.2.6.3 to ensure that the Client You would suffer no damages in relation to failure pay or receive the interest on the certain term. IX.2.7 The Client You must notify Us on all and any unauthorized Payments on the Client’s Your Payment Account in compliance with Para IX.3.20 IX.3.21 below. IX.2.8 The Client You shall not be entitled to contest the Payment transaction executed by Us, if the Payment Order has been duly authorized in the manner set out in this Section.