bhlegal – Casheer

1. Purpose
2. Firm Policy
3. Procedures
4. Policy Control
5. Retention of Documents and Records
6. Approval

1. PURPOSE:

The purpose of this policy is to establish determination guidelines and notification procedures for Casheer Services Co service suspension and termination, Clarify the rights and responsibilities of businesses clients and notify the Central Bank of Bahrain (If needed)

2. Firm Policy:

It is the intent of the Og to ensure continuity of care and service coordination between the business client served and his teams’ member and, Og’s legal & compliance representative and/or designated emergency contact, operation manager, and other team members during situations that may require or result in service suspension or termination. The Og restricts service suspension and termination to specific situations according to the following situations.

Service Initiation: The Business Client receiving Casheer Co. services will be notified of this policy and be attached as an Annex to its Signed Business Client Application form.

A. Temporary Service Suspension.

Casheer Company has the sole right to use temporary service suspension with the Business Client in the following situations:

If the Business Client Violate or breach any of its obligations.
if Casheer have not been paid the fees of services provided to the Business Client.
If the Business Client has Excessive chargebacks /refund under investigation.
The expiry of the official documents (commercial license, commercial registration, Civil ID of authorized signatories) without renewal.
if the Business Client makes any modifications (except the amendment on the natural of Business activities) in its official documents without informing Casheer.
Fraud suspicion (Telemarketing Fraud/ Wire Fraud) or/and Criminal collusion suspicion under investigation.
Suspicion of Extortion under investigation.
Force majeure for period of 15 days Maximum

B. Service Termination

The use of a service termination is limited to the following situations:

The parties have agreed on termination,
Either party have the right during the term of the agreement to inform the other with a notice of unwillingness to continue with 30 days prior written notice
if Casheer has not been paid fees of services provided to the Business Client within 15 days of service invoice.
If the Business Client has Excessive chargebacks /refund without receiving valid reason during the investigation held by Casheer Compliance and Legal Departments.
If the Business Client has not provided Casheer Co. with its updated Valid official documents (commercial license, commercial registration, Civil ID of authorized signatories) within 30 days from the date of its expiration.
if the Business Client makes any modifications (except the amendment on the natural of Business activities) in its official documents without notifying Casheer legal Dept and not providing the updated official documents within 5 days from the date of temporary service suspension action.
if the Business Client made amendment on the natural of Business activities without informing/notifying Casheer with any mean of communications.
Suspicious of Money Laundering activities after getting the Central Bank of Bahrain, KFIU instructions and other local regulatory authorities, confirmations to proceed with termination action and suspend the business client account.
If the Business client acting for any Identity theft activities proofed and notified by the regulatory authority as well as Casheer
Fraud suspicion (Telemarketing Fraud/ Wire Fraud) or/and Criminal collusion suspicion or/and Illegal transactions without receiving valid reason and evidence from the Business Client, and proofed and notified by the regulatory authority as well as Casheer
If the Business Client Violate or breach any of its obligations and fails to remedy such breach within Fourteen (14) days after written notice from Casheer company specifying such a breach, then Casheer may terminate this Agreement immediately upon notice of termination.
Bankruptcy or wind-off lawsuit and/or any other act related to the company business or any legal action against the Business Client.
Client Account data compromise.
Suspicion of Extortion without receiving valid reason and evidence from the Business Client during the investigation held by Casheer Compliance and Legal Departments.
If Business Client commits any breach of the cyber security of Casheer Co, or exposed to a breach of its cyber security which would harm the security system of Casheer co.
If the Acquirer bank and /Or Electronic Payment Infrastructure Provider (EPIP), notified Casheer co. with fraudulent behavior, illegal transactions, illegal activities conducted by the business client
If the Acquiring Bank and/or the Electronic Payment Infrastructure Provider (EPIP), asks On Global Co to terminate the services agreement with the Merchant, which may harm the business of both the Company and the Bank and expose them to the risk of non-compliance with the instructions of Central Bank of Bahrain and all other local regulatory authorities
in case of force majeure by either party with proven the reasons outside the reasonable control of any of them exceeds 15 days.

C. Central Bank of Bahrain (CBB) Notifications.

Og will Notify CBB in writing for the event of suspending /stopping any payment means that are already approved and totally shut down by Og.

3. PROCEDURE:

The Og recognizes that temporary service suspension and service termination are two separate procedures. The Og limited temporary service suspension to specific situations that are mentioned in the Policy. A temporary service suspension may lead to or include service termination, or the Og may do a temporary service suspension by itself.

1. Prior to Service Suspension or Termination:

Prior to giving notice of temporary service suspension or termination, Casheer is required to conduct Due diligence to minimize or eliminate the need of suspension or termination including:

consulting with the Business Client ’s team to identify and resolve issues leading to the issuance of temporary services suspension or termination notice within 2 working days.
if circumstances prevented Casheer from taking the required actions above, based on the best interests of the Business Client, the circumstances, reasons, and actions taken are documented.

2. Notifications and Rights of the Business Client During a Service Suspension:

Casheer will notify the Business Client representative in writing of the intended temporary service suspension.
the notice of temporary service suspension must be given on the first day of the service suspension.
the suspension period shall not exceed 15 business days with the ability to extension if needed for the same period
The notice must include:
- 4.1 The reason for the action
- 4.2 a summary of actions taken to minimize or eliminate the need for the temporary service suspension
- 4.3 why the measures failed to prevent the suspension.
The Business Client has the right to continue receiving Casheer’ s services if:
1. 5.1 it is determined that the business Client no longer possess an imminent risk to Casheer or others based on a review by Casheer’ s Compliance and Legal Departments.
2. 5.2 if Casheer received corrective action based on the company Compliance and Legal Departments recommendations
6 – A service suspension may be given in conjunction with a service termination.

3. Notification and Rights of the Business Client During a Service Termination:

Casheer will notify the Business Client representative in writing of the intended service termination.
The written notice of a proposed service termination, including those situations which began with a temporary service suspension, will be given before the proposed effective date of service termination:
- 2.1. For those Business Client receiving intensive services, the notice will be provided at least 30 days before the proposed effective date of service termination.
- 2.2. For those Business Client who performs actions that result in a realized risk will be terminated immediately within the same effective date of service termination
The notice will include:
- 3.1. The reason for the action.
- 3.2. a summary of actions taken to minimize or eliminate the need for the service termination

4. Policy Control:

4.1 Board of Directors (BOD) Roles and Responsibilities the BOD has the following roles and responsibilities:

Maintain accountability and oversight for establishing suspension and terminations policy and minimum standards.
Approve policy regarding suspensions and terminations measures
Define the lines of authority and responsibility for implementing the suspension and terminations policy to ensure that there is a separation of duty between those implementing the policies and procedures and those enforcing the controls, as following
- Delegate the authority of termination decision or any exceptions to the executive chairman of the board after obtaining an advisory opinion from Legal and Compliance Departments
- Delegate the authority of suspension decision to Compliance and Legal Departments board after obtaining a statement analysis from business operations and Finance Department

4.2 Compliance, Legal, Business Operation, Finance Departments Roles and Responsibilities

4.2.1 Compliance Department responsible for

identification and assessment of suspension and termination measurements and associated risks
assess and monitor the suspensions and terminations cases reported by company business areas, Acquiring Bank , the Electronic Payment Infrastructure Provider (EPIP), Central Bank of Bahrain and all local authorities
Ensure that proper reasons has been caused resulted the suspension and termination actions
assist, support and advise Board of Directors and Executive chairman in fulfilling its responsibilities for termination decision approval
In consultation and agreement with the legal department, provide the compliance regulatory opinion on the suspension the merchant activities for further investigation

4.2.2 Legal Department responsible for

Partner with the compliance department and assist in analyzing suspensions and terminations cases reported by company business areas, Acquiring Bank, the Electronic Payment Infrastructure Provider (EPIP), Central Bank of Bahrain and all local authorities
Giving proactive legal advice for the suspensions and terminations cases highlighted
Advising the board and management team on relevant legal issues and risks related to the suspensions and terminations cases
Ensuring compliance with all relevant legal, regulatory and requirements for the suspensions and terminations cases, highlighting when these are at risk of being breached.
Protecting the rights of the company in its contractual arrangements, litigation for suspended and terminated business clients
Advising Board of Directors and Executive chairman in fulfilling its responsibilities for termination decision approval
Approve the suspension of the merchant account action for further investigation

42.3 Business Operation Department responsible for

Communicating with suspended & terminated business clients to deliver the company notification of the agreed action
Receiving the business client’s proof of documents that to be presented for legal and compliance departments to rectify the issue
investigate and coordinate with the business clients to resolve his issue, which may be complex or long-standing
follow up for the business client issue with legal and compliance departments and present any additional requirements requested.
keep accurate records of discussions or correspondence with business clients

4.2.4 Finance Department responsible for

Action Upon Suspension:

The Business client acknowledges that his account with Casheer Co. will be suspended and on hold during the suspension period.
No Transactions will be proceeds on the account during the suspension period and till the business client rectify the issue
Any amounts in the business client account with Casheer will remain as is till his suspension case to be resolved.

Settlement Upon Termination:

The Business client acknowledges that closing of its account with Casheer may take up to 30 days following receipt of written notice of termination.
All obligations of a party regarding Transactions serviced prior to termination will survive termination.
If Merchant Used Casheer’ s Credit Card Payment Gateway, The Merchant would maintain enough funds in the Casheer Merchant’s escrow account, such funds will be used following the termination to cover all Chargebacks and returns, adjustments, fees, fines, penalties, assessments and charges from the Payment Networks and other amounts due under the Agreement for at least 180 days after termination.
Funds related to Transactions processed prior to termination will be placed in a Reserve Account until Merchant pays all amounts that the Merchant owes to Casheer.
Any balance remaining in the Reserve Account, after Chargeback, and all other amounts owed by Merchant have been settled will be disbursed and refunded to Merchant bank account
The merchant’s reserved balance will be released upon the end of the contractual relationship or termination of the agreement after 180 days from the date of termination

Merchant’s Reserved Balance – Security Deposit to be kept with Casheer If Merchant considered high risk profile or using Credit Card Payment Gateway, for security purposes (against chargeback cases) as per signed LIABILITY WARRANTY OF PRODUCTS

5. Retention of Documents and Records:

Casheer Co. will provide the information if requested by the Business Client legal representative when services are suspended or terminated.
All documents, records, correspondents related to the suspensions cases and terminations will retained within Casheer premise for 10 years in accordance with Clause (7) of Article (8) of Central Bank of Bahrain Instructions for Regulating the Electronic Payment of Funds

6. Approval: