Document Type : Reasearch paper
Abstract
Electronic funds transfer is considered one of the modern technologies that are used by the bank or institutions authorized to transfer funds in order to move funds from one account to another according to an order issued by the party ordering the transfer to the bank that holds its account by making entries on the credit side of one of them and on the debit side of the other using a method. Electronic.
The process of electronic funds transfer takes different forms depending on the number of banks involved in the transfer, according to the beneficiary of the transfer, or according to the speed of the transfer.
Jurisprudential opinions differed about the legal nature of the electronic transfer of funds. There are theories that were based on the provisions of civil law, while others were based on theories of commercial law.
Implementing an electronic transfer of funds requires many legal conditions, and a set of obligations are imposed on the parties to the electronic transfer contract, namely the ordering of the transfer and the beneficiary. They also extend to the beneficiary and to the contract.
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