Maestro Global Rules (PDF) - MasterCard

Liabilities and Indemnification
13.4 Limitation of Customer Liability
For purposes of this section, a Responsible Customer’s affiliated entity is
defined as follows:
1. a Customer that is owned or Controlled by the Responsible Customer or is
owned or Controlled by the Responsible Customer and another Customer
or Customers;
2. a Customer that, with the Responsible Customer, is under common
Ownership by or Control of another entity; or
3. a Customer that owns or Controls the Responsible Customer or shares
Ownership or control of the Responsible Customer with another Customer
or Customers.
The obligations of each Responsible Customer under this section shall be
continuing, absolute, and unconditional and shall not be discharged or impaired
or otherwise affected by any act or omission (including any renewal, extension,
amendment, waiver or unenforceability of any of the Guaranteed Obligations)
that may vary the risk of such Responsible Customer or otherwise operate as a
discharge of the obligations of such Responsible Customer as a matter of law or
equity, and all defenses of the Responsible Customer with respect thereto are
waived to the fullest extent permitted by applicable law.
The Responsible Customer’s liability to the Corporation and all other Customers
is a primary obligation, while the Corporation’s liability, if any, to another
Customer is secondary, in that it only arises if a Responsible Customer is unable
to pay its Guaranteed Obligations in full. Any assessments imposed on a
customer for liability under this section may be collected by the Corporation,
at its option, from the Customer’s settlement account or by any other means
available.
A Responsible Customer may not be exempted from the above-described
liability except upon written notice by the General Counsel of the Corporation.
13.4 Limitation of Customer Liability
A Customer, solely by reason of its status as a Customer, is not personally
responsible for any debts, liabilities, or obligations of the Corporation.
13.5 Limitation of Corporation Liability
The Corporation is not liable to any of its Customers or to any other entity that
participates in the Corporation for any losses or damages that may arise in
connection with participation in the Corporation.
©1993–2012 MasterCard. Proprietary. All rights reserved.
13-2 9 November 2012 • Maestro Global Rules