Common use of Authenticity Clause in Contracts

Authenticity. certainty and irrevocability of messages 16.1 All participants and the Service Provider agree to use the Relationship Management Application, public key infrastructure and any other means of authentication that may be provided by SWIFT (referred to in this Rule as “SWIFT authentication mechanism”) for the transmission of messages and instructions under MEPS+. 16.2 A transmitted message or instruction received by the host system which is determined by using SWIFT’s authentication mechanism to be sent by a participant shall be deemed to have been duly transmitted by that participant with the authority of that participant and to be the same as that transmitted by the participant, and neither that participant nor any other participant shall be entitled to dispute the occurrence of that message or instruction, the fact that that message or instruction was transmitted by the participant identified by the SWIFT authentication mechanism as the sender, the authority of the participant or its official in transmitting the message or instruction, or the accuracy or integrity of the message or instruction, in any claim before or proceeding in a court of law or any action taken under these Rules arising from any Transaction under MEPS+. 16.3 Where the authorisation(s) for the Relationship Management Application or any other means of authenticating a participant have been revoked, all messages or instructions transmitted by that participant prior to the revocation but pending settlement by the host system shall be rejected by the host system, but any such message or instruction which has been settled by the host system before the authorization(s) for the Relationship Management Application or other means of authenticating that participant were revoked shall be and remain irrevocable as far as MEPS+ is concerned, subject to these Rules.