BUSINESS TERMS AND CONDITIONS - Magyar Nemzeti Bank

model of which is contained in Annex 8 to MNB (Account Services Department) immediately afterlearning thereof by mail, encrypted fax or through GIROHáló GIROFile.h) terminating, without delay, its activity as a correspondent for the respondent indirect VIBERparticipant while notifying the MNB of such termination if the respondent VIBER member goes outof business without legal succession;i) refraining from the submission of payment orders to credit a technical account for clearing;rights of participants:each VIBER participant has the right of access to all functions of the VIBER (initiation andmodification of payment orders, using of the central queue management and gridlock resolution,the VIBER monitor, etc.);registering another credit institution as an indirect VIBER participant under correspondentbanking services;request extension of business hours according to the rules laid down in the Business Terms andConditions;lodge complaints in connection with non-satisfactory services;make comments within the prescribed time limit relating to any proposed amendment of theBusiness Terms and Conditions.11.1.2. SWIFT responsibilitiesSending VIBER messages from the sending VIBER participant‟s SAP to the receiving VIBERparticipant‟s SAP.Encryption and validation of the SWIFT message.Archiving of the message for 4 months.Sending a „copy‟ of a specific part of the payment and settlement orders to MNB SWIFT CBT.Sending the response regarding settlement/non-settlement to the addressees.11.1.3. Responsibilities of MNBEnsuring that the VIBER is open, capable of receiving messages and operates properly during theoperating hours published;Receiving payment and settlement orders, queries and instructions from MNB SWIFT CBT, andreturning reply messages to central CBT after settlement (to be sent automatically to VIBERparticipants by SWIFT);Notifying direct VIBER members of any extension of VIBER hours of operation;ensuring that information from CAS (statements) are sent to VIBER participants.Endeavouring to ensure that the VIBER operates 99.7% of the business hours published and is atthe service of the participants;Increasing the capacity of the VIBER in accordance with the increase in transaction volumes andnumbers indicated by VIBER participants;Publishing its annual clearing schedule listing VIBER business days for the year at least 20 workingdays prior to the first day of the year. Business days shall be identified on the basis of thelegislation governing work on working days immediately before and after non-working days;29/47