Maestro Global Rules (PDF) - MasterCard

Participation
1.3 Application to be a Customer
7. Foreign Branches. Any branch of a financial institution that is a Customer,
which is located in a country other than the country where such Customer
has its principal place of business, will for all purposes related to
participation in the Corporation, be deemed a separate financial institution
located in the foreign country. Benefits and obligations arising from the
financial institution’s participation in the Corporation will not accrue to or
bind the foreign branch. Eligibility of the foreign branch for participation
in the Corporation will be determined by reference to the Rules regarding
financial institutions that are primarily engaged in business in the country
where the foreign branch is located.
8. MasterCard. MasterCard and its successors, or any wholly owned subsidiary
designated by MasterCard, is eligible to be a Customer.
9. Exception. Notwithstanding the eligibility criteria in subsections 1 through
7 of this Rule 1.2 an entity which is engaged in providing financial services
in a country is eligible for participation in such country if the Corporation,
in its sole discretion, deems that its participation is necessary to compete
successfully and that such participation will promote the purposes of the
Corporation.
1.3 Application to be a Customer
Any entity eligible to be a Customer may apply to become a Customer. An
application to become a Customer must be made in the form and include all
of the information then required, and the entity must pay the fee or fees then
required. An applicant to be a Customer must agree, and by execution and
submission of an application to be a Customer agrees, that it will comply with
all applicable provisions of the Standards of this Corporation as in effect from
time to time, and with applicable law.
1.3.1 Changing Customer Status
In the event that:
1. An Affiliate wishes to become a Principal; or
2. A Principal wishes to become an Affiliate
it must notify the Corporation and submit such information as the Corporation
deems necessary. It is within the Corporation’s sole discretion whether to grant
the requested change in Customer status. In the event that the Corporation
grants the requested change, it will assess the appropriate fee.
NOTE
Regional Rules on this topic appear in Chapter 15, “Asia/Pacific Region,” of this
rulebook.
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Maestro Global Rules • 9 November 2012 1-5