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HYPER PAY AGREEMENT SUMMARY - Coggle Diagram
HYPER PAY AGREEMENT SUMMARY
DEFINITIONS & INTERPRETATIONS
Acquiring Bank
Merchant
Agreement
Business day
charges
Clearing Bank
Client & Data
System & Comm Date
Comm. Network
Confidential information
Data Protection Laws
Disclosing party
Force Meajure
Group Co & Hyper pay
Insolvency Events
Intellectual Property
Losses & Payee
Payer & Passwords
Recipients & Regist form
Regulator & Relief Event
Services & Shared Secret
OBLIGATIONS OF HYPER PAY
Hyper pay agrees to provide services
client has an agreement with bank
Hyper pay is not party to client /bank agreement
Hyper is not responsible for info of payers & payees
SE is responsible for verification of Identity
Hyperpay shall store data on its private network
Data will be encrypted but no obligation of accuracy
128 bit encryption is induced.
OBLIGATION OF NTCC
System is ready to collect orders
ensuring system is secure and contains privacy policy
deal with Acquiring bank on terms agreed
consents and authorizations to invoice clients
represent payers and payees concerning services
provide true info to Hyper pay
Back ups on all client data
INSTALLATION AND ACCEPTANCE TESTING
USERNAME AND PASSWORDS
SUPPORT AND MAINTENANCE
SE can request assistance from 09:00 to 17.30 hours
ENHANCEMENTS & UPGRADES
Hyper pay will upgrade form time to time and keep SE informed
INTELLECTUAL PROPERTY
Hyper pay is registered and all rights reserved
CONFIDENTIAL INFORMAITON
Applicable on both
TERMINATION
One year Agreement - Renewable but to be confirmed before 90 days of expiry
LIMITATION & LIABILITY
All disclaimers which indemnifies Hyper pay
WARRANTIES
Both parties warrant as per skills/scope
FORCE MAJEURE
Neither liable as per FM covering both
DATA PROTECTION & SECURITY
SE has obligation as per data controller and Hyper pay shall comply its obligations at Data processor
Hyper will only process data as per agreement
will not have any unauthorized use
NOTICES & ILLEGALITY
Validity or remaining provisions and notices
APPLICABLE LAW
Laws of Saudi Arabia
COUNTER PARTS & AMENDEMENTS
WAIVER, NO PARTNERSHIP ASSIGNMENT TO BE AGREED, ENTIRE AGREEMENT
SERVICE PROCESS, ONLINE AUTHORISATION AND PAYER AUTHENTICATION PROCESS