Common use of Refusal of Payment Order Clause in Contracts

Refusal of Payment Order. We may decline to accept a Payment Order. We will inform you as soon as practical if that is the case and in any event, no later than the next Business Day of: (a) the refusal; (b) if we are permitted to do so by Applicable Law, the reason for the refusal; and (c) where the reasons for the refusal relate to factual matters, the procedure for rectifying any factual errors. Where you have sent us funds to carry out a Payment Order but we cannot accept the Payment Order for the reasons set out above, we will return such funds to you without undue delay unless we are not able to do so as a result of Applicable Law.