PocketLaw | US Virgin Islands Code | Issue and Acceptance of Payment

Issue and Acceptance of Payment Order

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Security procedure

Authorized and verified payment orders

Unenforceability of certain verified payment orders

Refund of payment and duty of customer to report with respect to unauthorized payment order

Erroneous payment orders

Transmission of payment order through funds-transfer or other communication system

Misdescription of beneficiary

Misdescription of intermediary bank or beneficiary's bank

Acceptance of payment order

Rejection of payment order

Cancellation and amendment of payment order

Liability and duty of receiving bank regarding unaccepted payment order