Payment systems of the world:
Gespeichert in:
| Format: | Buch |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
New York u.a.
Oceana Publ.
1994
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | XXXVIII, 576 S. |
| ISBN: | 0379012758 |
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| 245 | 1 | 0 | |a Payment systems of the world |c ed. by Robert C. Effros |
| 264 | 1 | |a New York u.a. |b Oceana Publ. |c 1994 | |
| 300 | |a XXXVIII, 576 S. | ||
| 336 | |b txt |2 rdacontent | ||
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| 650 | 4 | |a Banques - Droit | |
| 650 | 7 | |a Banques - Droit |2 ram | |
| 650 | 4 | |a Chèques - Encaissement - Droit | |
| 650 | 4 | |a Monnaie électronique - Droit | |
| 650 | 7 | |a Monnaie électronique - Droit |2 ram | |
| 650 | 4 | |a Paiement | |
| 650 | 7 | |a Paiement |2 ram | |
| 650 | 4 | |a Recht | |
| 650 | 4 | |a Banking law | |
| 650 | 4 | |a Check collection systems |x Law and legislation | |
| 650 | 4 | |a Electronic funds transfers |x Law and legislation | |
| 650 | 4 | |a Payment | |
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Datensatz im Suchindex
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| adam_text | TABLE OF CONTENTS
ABOUT THE AUTHORS xxi
¦ INTRODUCTION
MEANS OF PAYMENT xxv
ANALYTICAL FRAMEWORK OF CASHLESS PAYMENT
SYSTEMS xxviii
Debit Transfers xxviii
Credit Transfers xxix
PAYMENT SYSTEMS IN THE UNITED STATES xxx
Consumer EFT s and Applicable Rules xxx
Types of Comsumer Transactions xxx
The Electronic Fund Transfer Act of 1978 xxxi
Wholesale EFT Systems and Applicable Rules xxxi
FedWire xxxi
CHIPS xxxii
SOCIETY FOR WORLDWIDE INTERBANK FINANCIAL
TELECOMMUNICATION (SWIFT) xxxiii
UNCITRAL MODEL LAW ON INTERNATIONAL CREDIT
TRANSFERS COMPARED WITH UNIFORM COMMERCIAL
CODE ARTICLE 4A xxxiii
OTHER SOURCES AND BIBLIOGRAPHY xxxviii
¦ CHAPTER I: AN OVERVIEW OF UNITED STATES
FUNDS TRANSFER LAW
I. INTRODUCTION AND BACKGROUND INFORMATION
ABOUT ARTICLE 4A 3
Rationale Behind Drafting Article 4A 5
Organization of Article 4A 7
II. ARTICLE 4A TERMINOLOGY 7
Acceptance 10
Revocation 11
III. RIGHTS AND LIABILITIES 12
Originator 12
iii
Originator s Bank 13
Intermediary Bank 16
Beneficiary s Bank 16
Beneficiary 18
Hypothetical 19
IV. FUNDS TRANSFER PROBLEMS ARTICLE 4A SOLUTIONS.. 21
Is the Payment Order Authentic 21
Does the Payment Order Contain any Errors 26
i. Misdescription Errors 26
ii. Erroneous Payment Orders 28
iii. Erroneous Execution of a Payment Order 29
iv. Late Execution of a Payment Order 31
Should the bank honor or accept it as payment order, or should the
Bank dishonor or reject the payment orders 32
i. Improper Execution of a Payment Order 32
ii. Failure to Execute a Payment Order 33
iii. Noncompletion of a Funds Transfer and the Exception to the
Money Back Guarantee 34
iv. Acceptance of a Payment Order and Protection of a
Beneficiary s Bank Netting Loss Sharing 35
V. A WORD ON REGULATION J 40
Terminology 41
Parties Governed by Regulation J 42
Effect of Other Laws on Regulation J 44
Notice and Misdescription Errors 45
Effect of Regulation J on Rights and Obligations of
Article 4A 46
Limitations Placed on Reserve Banks by Regulation J 47
Limitations Placed on Receiving Banks by Regulation J 48
Interest and the As Of Adjustment 49
¦ CHAPTER II: UNITED STATES
RETAIL ELECTRONIC PAYMENT SYSTEMS
INTRODUCTION 53
I. RETAIL ELECTRONIC PAYMENT SYSTEMS IN THE UNITED
STATES 54
A. Origins: The Paper Based System 54
B. Preauthorized Debits and Credits:
The Development of the Automated Clearing House 55
C. Remote Banking: Automated Teller Machines 59
D. Debit Cards at the Point of Sale 62
E. Credit Cards 65
F. Home Banking 68
G. Electronic Benefits Distribution 69
I. ILLEGAL REMEDIES AFFECTING U.S. RETAIL ELECTRONIC
PAYMENT SYSTEMS 71
A. The Electronic Fund Transfer Act 72
1. Coverage of the EFTA 73
2. Card Issuance 74
3. Initial Disclosures 75
4. Disclosures of Changes in Terms 76
5. Periodic Disclosures 76
6. Written Terminal Receipts 77
7. Consumer Liability 78
8. Error Resolution 81
9. Preauthorized Debits and Credits 83
10. Financial Institution Liability and Enforcement of
Regulation E 84
B. Regulation Z 86
C. State EFT Laws 86
1. UCC Articles 3 and 4 86
2. State Laws Specifically Governing EFT 88
D. Regulation D 88
E. Branching Laws 89
F. Antitrust 91
CONCLUSION 96
¦ CHAPTER HI: THE CLEARING HOUSE
INTERBANK PAYMENTS SYSTEM
I. INTRODUCTION 99
II. ORGANIZATION 103
III. DESCRIPTION OF CHIPS OPERATIONS 104
XT
IV. SETTLEMENT , 107
V. RISK MANAGEMENT 113
A. Key Risks 113
B. Same Day Settlement 116
C. Bilateral Credit Limits 117
D. Net Debit Caps 118
E. Loss Sharing and Collateral 119
VI. OPERATIONAL CONTINGENCY 121
VII. AUDIT AND OVERSIGHT 123
APPENDIX I. CHIPS ANNUAL TRANSACTIONS VOLUME AND
PARTICIPANTS (1971 1990) 125
¦ CHAPTER IV: FRANCE
INTRODUCTION 129
1. INSTITUTIONAL FRAMEWORK 130
1.2 Financial Intermediaries 130
1.2.1. Credit Institutions 130
a. Banks or Commercial Banks 130
b. A Series of Structured Networks 130
c. Financial Companies 131
d. Specialized Financial Institutions 131
1.2.2. Other Institutions 131
1.3 The Banque de France 132
a. Cash payments 132
b. Administration of accounts 132
c. Administration of settlement systems 132
2. PAYMENT INSTRUMENTS USED BY CUSTOMERS 132
2.1 Cash payments 132
2.2 Cashless payments 133
2.2.1. Cheques 134
2.2.2. Bills of exchange and promissory notes 135
2.2.3. Credit Transfers 136
2.2.4. Direct debits 137
2.2.5. The Interbank Payment Order (TIP) 137
2.2.6. Card Transactions 138
a. Main categories of cards in use 138
b. National card payment system 139
2.2.7. Intrabank networks accessible to customers 140
2.2.8. New payment instruments 140
3. INTERBANK EXCHANGE AND SETTLEMENT CIRCUITS 141
3.1 General description 141
a. The clearing houses 142
b. Ordinateur de Compensation 142
c. The Centres Regionaux d Echanges d Images
Cheques (CREIC) 143
d. Systeme Interbancaire de Telecompensation (SIT) 144
3.2 The structure, procedures and administration of wholesale
payment transfer systems 147
3.2.1. The Paris Banks Clearing House 147
3.2.2. SAGITTAIRE 148
3.3 The New TBF System 149
3.3.1. Legislative, regulatory and political measures ...149
3.3.2. Participants 149
3.3.3. Types of transactions 150
3.3.4. How the exchange system operates 150
3.3.5. The technical environment 150
3.3.6. Settlement procedures .151
3.3.7. Management of credit and liquidity risks 152
3.3.8. Surveillance or regulation 153
3.3.9. Implementation 153
4. UTILIZATION OF PAYMENT SYSTEMS FOR INTERNATIONAL
AND FINANCIAL TRANSACTIONS 154
4.1 Exchange and settlement of international transactions 154
4.1.1. An international open, yet concentrated system 154
4.1.2. Retail payments 155
4.1.3. Wholesale payments 155
4.2 Exchange and settlement of securities operations 156
4.2.1. RELIT 157
4.2.2. SATURNE 157
vii
5. THE ROLE OFTHE BANQUE DE FRANCE 158
5.1 General and specific missions 158
5.2 Provisions of services to facilitate interbank settlements 160
5.2.1. Use of current accounts 160
5.2.2. The role of the Banque de France in gross settlement
systems 160
5.2.3. Relations with net settlement systems 161
5.2.4. Credit facilities 161
5.3 Monetary policy and the payment system 161
a. Preventing technical risks 163
b. Preventing liquidity and credit risks 163
c. Structuring factors 163
5.4 The risk reduction programme 164
¦ CHAPTER V: ITALY
I. INTRODUCTION 169
II. TRADITIONAL PAYMENT INSTRUMENTS 172
(a) Legal Tender 172
(b) Bank Money 178
(1) Bank Checks 180
(2) Banker s Drafts 184
(3) Customer Payment Orders Giro Transfers 187
III. BANK CARDS 189
(a) Check Cashing Cards 189
(b) Credit Cards and Charge Cards 192
(c) Bancomat (cash dispensing system) 196
(d) Bancomat POS (Points of Sale) 197
IV. ELECTRONIC FUNDS TRANSFERS 198
V. THE POSTAL SYSTEM 203
VI. THE ROLE OF THE BANK OF ITALY IN THE PAYMENTS
SYSTEM 205
(a) Regulatory Function 205
(b) The Function of Issue 206
(c) Administration of the State Treasury 207
(d) Operation of Clearing Houses 208
(e) Supervision of Credit Agencies and Other Financial
Intermediaries 209
(f) Promotion and Coordination 210
¦ CHAPTER VI: JAPAN
I. BACKGROUND/DEVELOPMENTS IN JAPAN S PAYMENT
SYSTEMS 217
1. Growth in Transfer Volume 217
(1) Fund Transfers 217
(2) Securities Transfers 217
2. Growing Concern over Payment Risks 217
II. MAJOR PAYMENT SYSTEMS 219
1. Bill and Check Clearing System 219
2. Domestic Fund Transfer System (Zengin System) 220
3. Foreign Exchange Yen Settlement System (Gaitame Yen
Settlement System) 222
4. Bank of Japan Financial Network System (BOJ NET) 224
(1) Fund Transfer Service 225
(2) Foreign Exchange Yen Settlement Service 227
(3) JGB Service 227
5. Small value Payment Systems 230
(1) CD ATM Networks 230
(2) On line Services to Corporate and Individual Customers 231
III. FUTURE PROSPECTS 232
¦ CHAPTER VII: NETHERLANDS
1. CREDIT TRANSFERS IN THE NETHERLANDS 241
1.1 Credit Transfers 241
1.2 Legal framework 241
2. CREDIT TRANSFERS 242
2.1 The role of the banks in credit transfers 242
2.2 Authority to use the credit transfer method 242
2.3 Cost of credit transfers 242
2.4 Receipt 243
f V
3. THE CURRENT ACCOUNT AGREEMENT 243
3.1 The current account agreement 243
3.2 Powers and respnsibilities of the bank 244
3.3 Powers and responsibilities of the account holder 245
3.4 Termination of current account agreement 245
4. FORMS OF PAYMENT BY CREDIT TRANSFER 246
4.1 Introduction 246
4.2 The direct payment order 246
4.2.1 Introduction 246
4.2.2 General features of direct payment orders 247
4.2.3 Bank giro form or card 248
4.2.4 Periodic transfer 248
4.2.5 Modern data carriers/data communication 248
4.2.6 Preprinted giro form 249
4.3 Electronic payment 249
4.3.1 The bank consumer relationship 250
4.3.1.1 Signature 250
4.3.1.2 Proof 250
4.3.1.3 Proof to contrary 251
4.3.1.4 Liability 251
4.3.1.5 Misuse of bank card 251
4.3.1.6 Limitation of liability 252
4.3.1.7 Risk transfer 252
4.3.1.8 System failures 253
4.3.1.9 Acceptor consumer 254
4.3.1.10 Payment guarantee 254
4.3.1.11 Privacy 254
4.3.2 Acceptor bank relationship 255
4.3.2.1 General 255
4.3.2.2 Credit transfer or cash payment 255
4.3.2.3 Proof 255
4.3.2.4 Payment guarantee 256
4.3.2.5 System failures 256
4.3.2.6 Mislaid orders 256
4.3.2.7 Privacy 257
4.3.3 Home banking and telebanking 257
4.3.3.1 General 257
4.3.3.2 Home Banking 258
4.3.3.3 Telebanking 258
4.3.4 Collection contracts 259
4.3.4.1 Introduction 259
4.3.4.2 Collection authorization 259
4.3.4.3 Collection contracts/ declarations 259
4.3.4.4 Recrediting rule 260
4.4 Credit cards 260
4.4.1 Introduction 260
4.4.2 Types of cards 261
4.4.3 Other points about cards 262
4.4.4 The system 262
4.4.5 Use with PIN 262
4.4.6 Card holder/acceptor relationship 263
4.4.7 Card holder/card organization relationship 263
4.4.8 Card organization/acceptor relationship 264
4.4.9 Miscellaneous 264
5. THE EUROCHEQUE 265
5.1 The nature of the Eurocheque 265
5.2 The guarantee 265
5.3 Irrevocability 267
5.4 Compensation 267
5.5 The Eurocheque and attachment 269
5.6 The Eurocheque card holder/acceptor relationship 269
6. EXECUTION OF PAYMENT ORDERS 270
6.1 Introduction 270
6.2 Execution guarantee 270
6.3 Deficiencies in the execution of payment orders 270
6.4 Force majeure 271
6.5 Errors in payment orders 271
6.6 The relationship between the BGC and its associated banks 272
xi
7. TIME OF PAYMENT 273
7.1 Time of payment with credit transfers 273
8. CREDIT TRANSFER AND ATTACHMENT OR
BANKRUPTCY 273
8.1 Introduction 273
8.2 Attachment through debtor s assets 273
8.3 Attachment through bank 274
8.4 Bankruptcy of debtor 274
8.5 Bankruptcy of creditor 275
¦ CHAPTER VIII: SPAIN
I. INTRODUCTION 279
II. INSTITUTIONAL STRUCTURE 280
A. The Bank type Credit Institutions 281
1. Official banks 283
2. Private banks 283
3. Savings banks 284
4. Post Office Savings Bank 284
5. Credit cooperatives 285
B. The Bank of Spain 285
III. INSTRUMENTS OF THE PAYMENTS SYSTEM 286
A. Cash 286
B. Checks 288
C. Transfers 290
D. Domiciliation of Receipts 293
E. Credit and charge cards 294
F. Other Instruments 296
IV. EXCHANGE, CLEARING AND SETTLEMENT SYSTEMS 298
1. Clearinghouses 299
2. Exchange by magnetic data carrier 299
3. Exchange by means of computer networking. The National
Electronic Clearing System 300
4. Money Market Telephone Service 302
V. CONCLUDING CONSIDERATIONS 302
¦ CHAPTER IX: SWITZERLAND
INTRODUCTION 307
A. THE LEGAL BASIS FOR CREDIT TRANSFERS UNDER
SWISS LAW 308
1. Cashless credit transfers under Swiss law 308
2. Credit transfers in current banking practice 308
3. The credit transfer as an order in legal terms 309
4. Contractural relationships between the parties involved in a
credit transfer 312
B. SWISS INTERBANK CLEARING (SIC) 316
1. The legal framework 316
2. The main features of SIC 317
3. The relationship between the system operators 320
C. SELECTED LEGAL MATTERS RELATED TO SIC 323
1. The relationship between the system operators and
the participants 323
2. Time of performance and revocation 329
3. Erroneous declarations in the context of funds transfers 330
4. Assumption of the risk of delays 331
5. Impact on fund transfers of postponement of maturity,
moratorium or withdrawal of the bank s license 333
6. Impact of bankruptcy on fund transfers 334
D. CONCLUSION 337
¦ CHAPTER X: UNITED KINGDOM
INTRODUCTION 345
PART ONE. BASIC TERMINOLOGY 345
Meaning of Payment 345
Completion of Payment 346
Conditional Payment 346
Commitment to Pay 348
Parties to Payment 349
Credit Transfers Debit Collections 349
xiii
PART TWO. OPERATIONAL ASPECTS OF IN HOUSE
INTER BANK PAYMENTS 350
In House Payments 350
Inter Bank Payments 350
The Paper Clearings 352
A. The Cheque Clearing 353
B. The Town Clearing 355
C. The Credit Clearing 355
D. The Currency Clearing 356
The Electronic Clearings 356
A. CHAPS 356
B.BACS 358
Daily Settlement 359
PART THREE. IRREVOCABILITY AND COMPLETION OF
PAYMENT 360
Issues 360
Irrevocability 360
A. General 360
B. Cheques and the Cheque Clearing 361
C. Credit Transfers and the Credit Clearing 362
D. CHAPS 363
E. Direct Debits 364
Completion 365
A. General 365
B. Inter bank payments 365
C. Summary 367
APPENDIX 368
¦ CHAPTER XI: SWIFT
I. DEFINITION 373
A. A Value Added Communications System 373
B. Standards 375
C. Messages 375
D. Role in the Global Payments Mechanism 378
E. Evolving Role in Global Clearing and Settlement Mechanism 379
II. HISTORY 379
A. Beginning 379
B. Growth 380
C. Present Status 385
III. ORGANIZATION OVERVIEW 386
A. Policy 386
B. Operations 386
C. Members, Sub Members, Participants and Users 387
D. Rules 388
IV. SERVICES OVERVIEW 389
A. Core Message Service 389
B. Value Added Services 390
V. SYSTEM OVERVIEW 392
A. SWIFT 1 392
B.SWIFT II 393
VI. SECURITY AND LIABILITY 397
A. Security 397
B. Liability 400
VII. FUTURE OF SWIFT 402
A. The Immediate Future 402
B. The Opportunities Ahead ~ 402
C. The Bottom Line: Satisfying Customer Needs 405
¦ CHAPTER XII:
UNCITRAL MODEL LAW ON INTERNATIONAL
CREDIT TRANSFERS
I. BACKGROUND 409
II. PARALLEL DEVELOPMENTS IN THE UNITED STATES 414
III. NORMATIVE NATURE OF MODEL LAW 418
A. Model rules, model law or convention 418
B. Mandatory or suppletive rules 420
YV
IV. SPHERE OF APPLICATION 421
A. Nature of the transaction 422
1. Credit transfers 422
2. Originator to beneficiary s bank,and occasionally beyond 425
3. High speed (electronic), low speed (magnetic
tape or paper based) 428
4. Conditional payment orders 430
5. Consumer transfers 432
6. Transfers effectuated byentities other than banks 433
B. International transfers 435
1. General criteria 435
2. Branches of banks 441
V. OBLIGATIONS OF THE PARTIES 442
A. Sender 442
1. Sender s obligation to pay the receiving bank 442
a. Sender bound by payment order 442
b. Payment orders containing errors 445
c. Obligation to pay arises on acceptance by the receiving bank 446
2. When payment is made by the sender 446
a. Debiting account of sender 447
b. Crediting account of sending bank or of a third bank 449
c. Netting 451
B. Receiving bank 453
1. Acceptance of a payment order 453
a. Receiving bank other than the beneficiary s bank 453
b. Beneficiary s bank 457
2. Obligations of the receiving bank 458
a. Receiving bank other than the beneficiary s bank 458
b. Beneficiary s bank 464
VI. TIME TO EXECUTE PAYMENT ORDER TO GIVE NOTICE 466
A. Execution of payment orders 466
B. Notice of rejection 470
C. Notices of defects in the payment order 471
VII. REVOCATION OF A PAYMENT ORDER 471
VIII. FAILED, ERRONEOUS OR DELAYED
CREDIT TRANSFERS 473
A. Assistance 473
B. Refund 474
C. Liability and damages 480
1. Liability of beneficiary s bank to beneficiary 481
2. Liability of bank other than beneficiary s bank for delay 481
3. Liability for failure to give required notice 486
4. Exclusivity of remedies and consequential damages 487
IX. COMPLETION OF THE CREDIT TRANSFER 489
A. Criteria for completion 489
B. Consequences of completion 491
X. CONFLICT OF LAWS 494
XI. CONCLUSION 498
¦ APPENDIX A: UNIFORM COMMERCIAL CODE
ARTICLE 4A
PART 1: SUBJECT MATTER AND DEFINITIONS
§ 4A 101. SHORT TITLE 503
§4A 102. SUBJECT MATTER 503
§4A 103. PAYMENT ORDER DEFINITIONS 503
§4A 104. FUNDS TRANSFER DEFINITIONS 504
§4A 105. OTHER DEFINITIONS 504
§4A 106. TIME PAYMENT ORDER IS RECEIVED 506
§4A 107. FEDERAL RESERVE REGULATIONS AND
OPERATING CIRCULARS 507
§4A 108. EXCLUSION OF CONSUMER TRANSACTIONS
GOVERNED BY FEDERAL LAW 507
PART 2: ISSUE AND ACCEPTANCE OF PAYMENT ORDER
§4A 201. SECURITY PROCEDURE 507
§4A 202. AUTHORIZED AND VERIFIED PAYMENT ORDERS 507
§4A 203. UNENFORCEABILITY OF CERTAIN VERIFIED
PAYMENT ORDERS 509
§4A 204. REFUND OF PAYMENT AND DUTY OF CUSTOMER
TO REPORT WITH RESPECT TO UNAUTHORIZED PAYMENT
ORDER 509
§4A 210. REJECTION OF PAYMENT ORDER 516
§4A 211. CANCELLATION AND AMENDMENT OF PAYMENT
ORDER 516
§4A 212. LIABILITY AND DUTY OF RECEIVING BANK
REGARDING UNACCEPTED PAYMENT ORDER 518
PART 3: EXECUTION OF SENDER S PAYMENT ORDER BY
RECEIVING BANK
§4A 301. EXECUTION AND EXECUTION DATE 519
§4A 302. OBLIGATIONS OF RECEIVING BANK IN EXECUTION
OF PAYMENT ORDER 519
§4A 303. ERRONEOUS EXECUTION OF PAYMENT ORDER 520
§4A 304. DUTY OF SENDER TO REPORT ERRONEOUSLY
EXECUTED PAYMENT ORDER 521
§4A 305. LIABILITY FOR LATE OR IMPROPER EXECUTION OR
FAILURE TO EXECUTE PAYMENT ORDER 522
PART 4: PAYMENT
§4A 401. PAYMENT DATE 523
§4A 402. OBLIGATION OF SENDER TO PAY RECEIVING
BANK 523
§4A 403. PAYMENT BY SENDER TO RECEDING BANK 524
§4A 404. OBLIGATION OF BENEFICIARY S BANK TO PAY AND
GIVE NOTICE TO BENEFICIARY 525
§4A 405. PAYMENT BY BENEFICIARY S BANK
TO BENEFICIARY 526
§4A 406. PAYMENT BY ORIGINATOR TO BENEFICIARY;
DISCHARGE OF UNDERLYNIG OBLIGATION 527
PART 5: MISCELLANEOUS PROVISIONS
§4A 501. VARIATION BY AGREEMENT AND EFFECT OF
FUNDS TRANSFER SYSTEM RULE 529
§4A 502. CREDITOR PROCESS SERVED ON RECEIVING BANK;
SETOFF BY BENEFICIARY S BANK 529
§4A 503. INJUNCTION OR RESTRAINING ORDER WITH
RESPECT TO FUNDS TRANSFER 530
§4A 504. ORDER IN WHICH ITEMS AND PAYMENT ORDERS
MAY BE CHARGED TO ACCOUNT; ORDER OF
WITHDRAWALS FROM ACCOUNT 530
§4A 505. PRECLUSION OF OBJECTION TO DEBIT OF
CUSTOMER S ACCOUNT 531
§4A 506. RATE OF INTEREST 531
§4A 507. CHOICE OF LAW 532
TECHNICAL AMENDMENT TO ARTICLE 1 533
¦ APPENDIX B: ELECTRONIC FUND
TRANSFER ACT
15 U.S.C. § 1693 Congressional findings and declaration of
purpose 537
15 U.S.C. § 1693a Definitions 537
15 U.S.C. § 1693b Regulations 539
15 U.S.C. § 1693c Terms and conditions of transfers 541
15 U.S.C. § 1693d Documentation of transfers 542
15 U.S.C. § 1693e Preauthorized transfers 544
15 U.S.C. § 1693f Error resolution 545
15 U.S.C. § 1693g Consumer liability for unauthorized transfers 547
15 U.S.C. §1693h Liability of financial institutions 549
15 U.S.C. § 1693i Issuance of cards or other means of access 550
15 U.S.C. § 1693j Suspension of obligations 551
15 U.S.C. § 1693k Compulsory use of electronic fund transfers 551
15 U.S.C. § 16931 Waiver of rights 551
15 U.S.C. § 1693m Civil liability 552
15 U.S.C. § 1693n Criminal liability 553
15 U.S.C. § 1693o Administrative enforcement 550
15 U.S.C. § 1693p Reports to Congress 557
15 U.S.C. § 1693q Relation to State laws 557
15 U.S.C. § 1693r Exemption for State regulation 558
¦ APPENDIX C: UNCITRAL MODEL LAW ON
INTERNATIONAL CREDIT TRANSFERS
CHAPTER I. GENERAL PROVISIONS 561
Article 1. Sphere of application 561
Article 2. Definitions 561
Article 3. Conditional instructions 563
Article 4. Variation by agreement 564
viv
CHAPTER II. OBLIGATIONS OF THE PARTIES 564
Article 5. Obligations of Sender 564
Article 6. Payment to receiving bank 565
Article 7. Acceptance or rejection of a payment order by receiving
bank other than the beneficiary s bank 566
Article 8. Obligations of receiving bank other than the beneficiary s
bank 567
Article 9. Acceptance or rejection of a payment order by
beneficiary s bank 568
Article 10. Obligations of beneficiary s bank 569
Article 11. Time for receiving bank to execute payment order and
give notices 569
Article 12. Revocation 569
CHAPTER HI. CONSEQUENCES OF FAILED, ERRONEOUS OR
DELAYED CREDIT TRANSFERS 572
Article 13. Assistance 572
Article 14. Refund 572
Article 15. Correction of underpayment 573
Article 16. Restitution of overpayment 573
Article 17. Liability for interest 574
Article 18. Exclusivity of remedies 575
CHAPTER IV. COMPLETION OF CREDIT TRANSFER 575
Article 19. Completion of credit transfer 575
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| discipline | Rechtswissenschaft |
| format | Book |
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| id | DE-604.BV010414787 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-09T17:52:07Z |
| institution | BVB |
| isbn | 0379012758 |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-006936359 |
| oclc_num | 31727174 |
| open_access_boolean | |
| owner | DE-739 DE-703 |
| owner_facet | DE-739 DE-703 |
| physical | XXXVIII, 576 S. |
| publishDate | 1994 |
| publishDateSearch | 1994 |
| publishDateSort | 1994 |
| publisher | Oceana Publ. |
| record_format | marc |
| spelling | Payment systems of the world ed. by Robert C. Effros New York u.a. Oceana Publ. 1994 XXXVIII, 576 S. txt rdacontent n rdamedia nc rdacarrier Banques - Droit Banques - Droit ram Chèques - Encaissement - Droit Monnaie électronique - Droit Monnaie électronique - Droit ram Paiement Paiement ram Recht Banking law Check collection systems Law and legislation Electronic funds transfers Law and legislation Payment Internationaler Zahlungsverkehr (DE-588)4125844-7 gnd rswk-swf Rechtsvergleich (DE-588)4115712-6 gnd rswk-swf Internationaler Zahlungsverkehr (DE-588)4125844-7 s Rechtsvergleich (DE-588)4115712-6 s DE-604 Effros, Robert C. Sonstige oth HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=006936359&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Payment systems of the world Banques - Droit Banques - Droit ram Chèques - Encaissement - Droit Monnaie électronique - Droit Monnaie électronique - Droit ram Paiement Paiement ram Recht Banking law Check collection systems Law and legislation Electronic funds transfers Law and legislation Payment Internationaler Zahlungsverkehr (DE-588)4125844-7 gnd Rechtsvergleich (DE-588)4115712-6 gnd |
| subject_GND | (DE-588)4125844-7 (DE-588)4115712-6 |
| title | Payment systems of the world |
| title_auth | Payment systems of the world |
| title_exact_search | Payment systems of the world |
| title_full | Payment systems of the world ed. by Robert C. Effros |
| title_fullStr | Payment systems of the world ed. by Robert C. Effros |
| title_full_unstemmed | Payment systems of the world ed. by Robert C. Effros |
| title_short | Payment systems of the world |
| title_sort | payment systems of the world |
| topic | Banques - Droit Banques - Droit ram Chèques - Encaissement - Droit Monnaie électronique - Droit Monnaie électronique - Droit ram Paiement Paiement ram Recht Banking law Check collection systems Law and legislation Electronic funds transfers Law and legislation Payment Internationaler Zahlungsverkehr (DE-588)4125844-7 gnd Rechtsvergleich (DE-588)4115712-6 gnd |
| topic_facet | Banques - Droit Chèques - Encaissement - Droit Monnaie électronique - Droit Paiement Recht Banking law Check collection systems Law and legislation Electronic funds transfers Law and legislation Payment Internationaler Zahlungsverkehr Rechtsvergleich |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=006936359&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| work_keys_str_mv | AT effrosrobertc paymentsystemsoftheworld |