Article 113

Where action has been taken under default arrangements of a Payment System by the Payment System Operator in respect of a Member in the Payment System, SAMA may direct the Payment System Operator to give information relating to the default to any employee nominated by SAMA. The nominated employee is responsible for assessing and examining any matter arising out of or connected with the default of the Member in that Payment System. The liabilities of Members for any loss arising from the default of the concerned Member and the arrangements to handle any disputes over Members’ liability with respect to default transactions should be clearly set out in the rules and procedures, and any such disputes are subject to the disputes provisions included in the Law and the Implementing Regulation.