Maestro Global Rules (PDF) - MasterCard

Settlement and Reconciliation
10.5 Collateral Collection through Settlement Accounts
3. A Settlement Obligation arising from or in connection with a Transaction
in which the Issuer and Acquirer are related parties or are under common
Control by one or more parents, holding companies, or other entities.
4. A Settlement Obligation arising from or in connection with any of the
Principal Customer’s Sponsored Affiliate Customer(s).
10.5 Collateral Collection through Settlement Accounts
In instances in which Customers are deemed to pose a risk of loss to the
payment system and the Customer resists or excessively delays establishing a
security agreement with the Corporation, the Corporation has the authority to
collect the necessary collateral through such Customer’s settlement accounts in
addition to that Customer’s other settlement obligations. This authority will be
exercised only after a minimum of three (3) weeks from the time of the initial
request for collateral or under circumstances in which the Corporation deems
it essential to obtain collateral without further delay or jeopardy posed to the
integrity of the settlement system. Customers will be given seven (7) calendar
days notice of this collection and the term of this collection. (If collection will
be made through GCMS, the IPM Fee Collection Code 1740 [Debit Collateral for
Security Arrangement] will be used.)
NOTE
10.6 System Liquidity
Customers in the Europe Region should also refer to Rule 13 in Chapter 17,
“Europe Region,” of this rulebook.
If the Corporation requires funds to maintain System liquidity and to meet any
obligations that a Customer or Customers have failed to discharge (for purposes
of this section, “Non-discharged Customer Obligations”), the Corporation
may collect funds directly from their settlement accounts of Customers upon
reasonable notice to the Customers. In such event, the funds will be collected
by the Corporation by:
1. Decreasing the gross daily settlement amounts of outgoing volumes of a
Principal by up to five percent (5%) of the amount settled on one or more
days; and
2. Increasing the gross daily settlement amounts of incoming volumes of
Principals by up to five percent (5%) of the amount settled on one or
more days.
This collection may continue as long as deemed necessary or appropriate to
satisfy Non-discharged Customer Obligations and to ensure system liquidity or
until the Corporation deems such collection no longer necessary or appropriate.
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10-4 9 November 2012 • Maestro Global Rules