Do you want to buy antibiotics online without prescription? - This is pharmacy online for you!

Kuwait's Automated Settlement System for
Inter-participant Payments-KASSIP
Payment Transactions in the Queue at End of 1- Introduction
These regulations were set out in accordance with the basic principles of Systemically Important Payment Systems which were determined by the Committee on Payment and Settlement Systems (CPSS) (1). The responsibility of adherence to the standards of the Committee on Payment and Settlement Systems (CPSS) falls on the Central Bank of Kuwait (CBK) and the Participants of KASSIP. Participants should ensure the proper management of risk resulting from the use of payment systems mentioned above and in particular with regard to providing Intra-day Liquidity Support to the system so as to enable the execution of the operations between the Participants involved in it and to maintain continuity as well as the capability to operate in emergency situations. KASSIP will fully replace the End of Day Net Settlement System, which was valid in the State of Kuwait prior to the introduction of KASSIP and therefore all payment transactions, whether including or not including a third party beneficiary, must be sent only through KASSIP.
2- Definitions
Application Software: A computer program or a computer software unit by which to accomplish a specific range of operations and functions as described in detail in the Participant User Guide. The Central Bank: The Central Bank of Kuwait which is considered as agent for settlement. Confirmation: A message issued by KASSIP to notify Participants that a payment transaction has been settled or that instructions have been implemented regarding revocation or reprioritization of a payment transaction or re-sequencing of a queued payment transactions that will be executed. Enquiry: Any message addressed to CBK from one of the Participants of the system, requesting any information available on KASSIP. These basic principles can be found on the website of the Bank for International Settlements,, and then use the links to get access to CPSS and its publications. Fall-back Arrangements: An alternative group of processes, procedures, and resources that are set up to prepare, send and receive KASSIP transactions in case of a significant delay, malfunction or failure in the core group of processes, procedures and resources for such operations. Force Majeure: Any cause beyond the control of CBK including but not limited to acts of God, fires, explosions, industrial disputes, wars (declared or undeclared), acts of terrorism, and riots. Liquidity Support: A temporary financial support provided by CBK to Participants in accordance with the rules of liquidity policy pursued by CBK. Operational Procedures: Detailed procedures to be adhered to by the Participant in KASSIP. Participant: A financial institution which CBK agrees to allow participation in KASSIP, including CBK as a bank. 2-10 Participant Application Form: A form provided by CBK to be completed by the financial institution that wishes to participate in KASSIP. 2-11 Payment Advice: A message sent from CBK to one of the Participants to notify about the completion and settlement of the payment transaction that has been in his favor. 2-12 Payment Transaction: A direct order from a Participant to CBK to pay a certain amount of money on a specified date to another Participant or Participants for the benefit of an identified beneficiary in the payment transaction and has an account with the other Participant or Participants and this transaction should be settled by crediting the amount to the beneficiary’s account at the Receiving Participant. 2-13 Participant User Guide (PUG): A software program guide that is updated from time to time, which is used by Participants to create or receive or send KASSIP transactions through CBK-net. 2-14 Receiving Participant: The Participant referred to in the payment transaction or payment advice that he is the Participant who keeps the account of the beneficiary specified in the payment process. 2-15 Report: Information resulting from KASSIP, addressed to one of the Participants and available when requested or at any specified time. 2-17 KASSIP: Kuwait’s Automated Settlement System for Inter-participant Payments. 2-18 KASSIP System: Computers and other resources such as hardware, software and Operational Procedures and applications used in Real Time Gross Settlement. 2-19 Sending Participant: The Participant indicated in the payment transaction or in a payment advice as the Originator Participant of the payment transaction. 2-20 Settlement: CBK’s completion of a payment transaction including recording accounting entries in the accounts of Participants in the payment transaction. 2-21 Settlement Agent: The entity in charge of operating, managing and regularizing 2-22 Settlement Limit: The amount available to one of the Participants in order to execute the first arranged payment transaction in the payment transactions queue, which is the total value of Intra-day Liquidity Support plus the current account balance of the Participant. 2-23 Smart Card: A plastic tool containing an integrated circuit of private information of the Participant, saved along with software that forms one of the fundamentals of KASSIP security. 2-24 User: One of the Participants or CBK’s employees who is allowed by the Participant or 2-25 User Profile: Details of the user in addition to a disclosure revealing the defining tasks associated with KASSIP, which are authorized to the Participant to use. 2-26 Vendor: Who sells to CBK computers, operating systems, application software, and 2-27 CBK-net: CBK’s wide area network that links CBK and its customers. 2-28 CBK-net Transaction: A transaction executed by one of the Participants using his own 2-29 Gridlock: The suspension of payment transactions owing to the lack of sufficient cover resulting from claims shared between two or more of the Participants. 2-30 Initial Cut-Off: Time of completion of payment transactions of customers. 2-31 Final Cut-Off: Time of completion of all payment transactions, except for CBK’s 2-32 End of Day: Time of completion of all KASSIP payment transactions, as well as CBK’s transactions executed on behalf of its customers. 2-33 Straight Through Processing (STP): Straight online and real-time execution of payment transactions from and to customers’ accounts among Participants without human intervention. 3- KASSIP Scope of Use
Participants using KASSIP must only send and receive instructions, messages or advises exchanged among them and related only to payments denominated in Kuwaiti dinar. To avoid error, these instructions, messages and advices should not include cheques, other documentary payment methods, credit card transactions, ATM withdrawal transactions or paying electronically at the point-of-sale, as the net balances of these transactions are settled through the Participants’ accounts at CBK. When specifying the value in the payment instructions that are sent to CBK for execution and settlement, the Participant should not execute Net, Offset, Aggregate, or Combine settlements of payments received or expected from other Participants for the value of payments made to other Participants. Payment transactions sent from one Participant to another or to CBK, or sent from CBK to one of the Participants should be settled by debiting from the accounts of parties concerned with CBK before sending the payment advice to the Receiving Participant. When settling the payment transaction, it becomes irrevocable and CBK will not reverse any transaction included in the accounts of Sending or Receiving Participants.
4- Participants
CBK shall have the absolute power to allow other financial institutions to participate in KASSIP subject to compliance with the following conditions: 4-1-1 The candidate must submit an application form to CBK that meets the requirements to participate in KASSIP, upon CBK approval, the candidate becomes a Participant governed by KASSIP Regulations. 4-1-2 CBK must notify -in advance- the existing Participants by a written advice of the 4-1-3 The procedures outlined in the Operational Procedures must be followed. 4-1-4 The obligations and other conditions determined by CBK must be taken into CBK is entitled in accordance with its absolute power, to refuse the participation of a new financial institution in KASSIP. 5- Participants’ Accounts
Each Participant in KASSIP must keep an account with CBK. 5-1-1 CBK will keep an account for each Participant in KASSIP. 5-1-2 KASSIP represents the only source of information about the accounts of Participants must keep their accounts in accordance to the conditions established by CBK, and as issued from time to time. CBK shall have the right to suspend or close the account of any Participant and reject any payments or enquiries issued regarding the account of this participant or sent to him, in case the Participant did not comply with the relevant rules and regulations of CBK, or to any conditions related to the account according to the Operational Procedures, or as determined by CBK. CBK is entitled to allow the resumption of the account which was suspended or to re-open the account that was closed, provided that the Participant concerned shall meet the conditions and obligations specified by CBK in this regard. In the event that CBK may suspend, withdraw, or revoke any license granted to the Participant to exercise banking activity or invalidate this license in any other way, CBK will promptly suspend or close the account of the Participant concerned and reject any payments or enquiries relating to this account or sent to this Participant. CBK shall have the absolute power in all cases, to suspend the account of a Participant and reject any payments or inquiries issued by this account or received by this Participant. Participants can access computers directly and within KASSIP to view the list of Participants in this system and the status of each Participant. 5-6-1 Both Operational Procedures and Participant User Guide provide further details on how to view the above-mentioned list and the description of status available for each Participant. 6- Withdrawal of Participants
6-1 The Participant willing to withdraw from participating in KASSIP must submit a written 6-2 CBK shall have the absolute power to accept or reject any notice of withdrawal from one 6-3 If CBK refused to accept the notification of withdrawal, the Participant remains subject to the rules and regulations related to KASSIP and stays as an Involved Participant. 6-4 CBK can require the Participant submitting a notice of withdrawal to extend the period to 6-5 When CBK accepts a notice of withdrawal, it will advise the other Participants. 6-6 Operational Procedures explain the procedures that CBK and the rest of the Participants must take when one of the Participants notifies its unwillingness to continue to participate in the system. 6-7 When CBK receives a notice of withdrawal from one of the Participants of the system, the reverse of this notice is not accepted without a written consent from CBK. 7- Operations of Participants
7-1 Access to KASSIP
Participants can enter KASSIP either by SWIFT or by using CBK-net and the computer system of the Participant or by using the resources available for this purpose at CBK in accordance with the conditions determined by CBK or by using a secured e-mail. Participants must obtain the membership of SWIFT and maintain such membership if they want to send or receive payment transactions or receive reports through this network. Participants must comply with the instructions contained in the Safe Use of the SWIFT Network Guide and must ensure appropriate security procedures within their organizations to control and monitor the process of access to computers using SWIFT. Participants should access KASSIP via a leased line and maintain the means of communication specified by CBK in order to send and receive payment transactions, inquiries and reports. The format of payment transactions, inquiries and reports that can be sent to and received by CBK via KASSIP must be according to what is explained in the Participant User Guide. CBK shall provide a software application used by Participants to set, send and receive payment transactions and to ask questions and receive responses as well as reports via CBK-net. This software is the property of CBK in accordance with the terms of the license granted to CBK from the provider of the service. 7-1-6-1 The software application must be stored on computers owned by and Participants must use the secured e-mail provided by KASSIP in line with the requirements specified in Operational Procedures. 7-2 Security, Hardware and Software.
CBK and/or the vendor shall provide the Participants with the specifications of the hardware and software related to the smart card reader. CBK and/ or the vendor shall provide the Participants with the guidelines for the automated use of receiving or issuing confirmations, enquiries, payment advices, reports of payment transactions and CBK-net information from and to KASSIP or from other computers or software applications owned by the Participants which they operate or have the permission to run. 7-3 Treating Technical Difficulties
In case of experiencing any difficulties in the use of KASSIP, a Participant can contact KASSIP Help Desk at CBK. Operational Procedures explain the detailed instructions for contacting the Help Desk at CBK. 7-4 Timing of payment transactions
CBK may impose occasionally mandates on Participants to do their best to achieve a specified percentage of their daily average transactions whether in value or quantity to be sent at specified times of the daily operations schedule. Operational Procedures contains details on how to advise the above-mentioned requirements; and how CBK could monitor compliance, as well as the procedures that the CBK may take in case a Participant fails to comply with these requirements. 7-5 Responsibilities of Participants
Participants should execute and settle payment transactions based on the account number only and in full conformity with the instructions contained in the payment transactions. Participants are not obliged to check the accuracy or validity of any payment transaction and are entitled to consider a payment transaction which is received in accordance with these Regulations a valid payment transaction which accurately reflects the payment transactions issued by the Sending Participant. The Sending Participant of the payment transaction must ensure that the beneficiary account number is correct and must take full responsibility for any losses caused by reporting the wrong account number of the beneficiary. The Receiving Participant must take all appropriate measures to recover amounts credited by error in order to be returned to the Sending Participant. Application Techniques of Straight Through Processing: By using the available resources of KASSIP, Straight Through Processing is applied, and according to that, the Receiving Participant of a payment transaction will credit the customer's account (the beneficiary) automatically and directly allowing Real Time Settlement of payments for customers among the Participants, and in accordance with relevant details as explained in the Operational Procedures Manual. 8- Execution and Settlement

8-1 CBK Operations

8-1-1 CBK validates some elements of incoming payment transactions and will reject 8-1-1-1 In case of any transaction validation failure, CBK will notify the Sending Participant of its transaction rejection. 8-1-1-2 Operational Procedures manual contains all details relevant to transaction validation or rejection notification / advice. 8-1-2 CBK is not obliged to check the accuracy or validity of payment transactions and is entitled to consider the payment transactions which are sent in accordance with these Regulations to be issued by the Sending Participant. 8-1-3 If a payment transaction has referred to one beneficiary or more of CBK customers which are non-participants in KASSIP, the Sending Participant will identify those beneficiaries and will be accredited based on their account numbers only. 8-1-4 The maximum settlement limit to a Participant is the credit balance of the Participant’s account plus the assigned Intra-day Liquidity Support, and therefore no payment transactions received by CBK will be executed and settled directly from one of the Participants unless the maximum settlement limit available to this Participant equals or exceeds the value of the payment transaction. 8-1-4-1 In case there is insufficient cover to enable KASSIP to settle a payment transaction, KASSIP will list the transaction in the queue until there is an adequate financial cover. 8-1-5 A payment transaction which is issued by CBK and include a debit from one of the Participant’s account will be executed and settled without reference to the availability of a cover. 8-1-6 After the completion of settlement, CBK shall send as soon as possible a payment advice to the Participant or Participants specified in the payment transaction by the Participant who issued the payment transaction. 8-1-7 Each of the Operational Procedures and Participant User Guide include detailed procedures for execution and settlement of payment transactions or for queuing. 8-2 CBK Access to Information
CBK is entitled to have access to all available information and those related to the Participant’s account, as well as payment transactions to be executed and settled, and other statistical data related to the Participant’s access to KASSIP. CBK can access the Participant’s accounts as they are users of KASSIP. This access is limited to menus for payment transactions, payment advices including transactions that have been settled and those that have not yet been settled, cancelled transactions and those that were rejected. CBK shall provide the Participant concerned with a copy of detailed data about each user of KASSIP registered with CBK. If CBK wishes to access files related to the Participants other than the above-mentioned, it must be agreed -in advance- with the Participant concerned, and before CBKs’ amendments to the details related to the data of this Participant.
8-3 CBK Responsibilities

This section defines CBK’s role as an agent of settlement and as a Participating Bank. If CBK has executed and settled payment transactions in accordance with the instructions contained in these transactions, it will not take any responsibility for any obligations, losses or costs arising from execution and settlement of payment transactions received in accordance with KASSIP Regulations and Operational Procedures as well as the Participants User Guide. In case of an unintentional error by CBK or any of its employees regarding the CBK’s obligations or activities described in KASSIP Regulations including what has been mentioned in the Operational Procedures and the Participants User Guide, CBK will not be responsible for any losses, costs or any other obligations. CBK will not be responsible for any costs or damages arising from cases of Force Majeure. 9- Enquiries and Reports
9-1 Enquiries

Participants can send enquiries to KASSIP according to the form and manner described in the Operational Procedures and the Participants User Guide. The answers to the enquiries through KASSIP must be according to the form and manner described in the Operational Procedures and the Participants User Guide. 9-2 Reports

KASSIP will complete reports for Participants according to the form and manner described in the Operational Procedures and the Participants User Guide. Participants can notify CBK of their preferred network in KASSIP, so CBK can provide them with the reports through the chosen network. 9-2-2-1 The network referred to should not be the same as the network used for
9-3 E-mail

9-3-1 Participants can use the secure e-mail system available in KASSIP in order to send emails to each other and to CBK in the form and manner described in the Operational Procedures and the Participants User Guide. 9-3-2 Participants are prohibited from using the secure e-mail system of KASSIP to send payment transactions to another Participant or to CBK. 10- Gridlock
In case two or more Participants do not have the sufficient cover that enables CBK to execute and settle the First Payment Transaction in accordance with the priority sequence for each of them, CBK is entitled to apply the procedure related to releasing gridlock in executing payment transactions in the network. Such procedures which are described in detail in the Operational Procedures could include simultaneous and total settlement of payment transactions issued by or addressed to Participants who are eligible to release gridlock of queued transactions in the network. CBK can require any Participant who does not have sufficient cover that enables CBK to execute and settle the First Payment Transaction in the sequence of operations (first in, first out), to change the order of payments in queue so that it becomes possible to execute the payment transaction, or to cancel the payment operation and resubmit it at a lower level of priority than it was. A Participant is not allowed to refuse compliance with this demand without expressing reasonable grounds. 11- Payment Transactions in the Queue at end of Working Day
In case the Sending Participant has an unsettled payment transaction in the queue at end of the working day, this Participant is considered breaching his obligations under these Regulations and may be punished by sanctions and other measures specified by CBK from time to time in this matter. CBK can, according to its absolute power, empty the system of unexecuted payment transactions in the queue at Final Cut-Off, whether to cancel the transaction or to take action to make the maximum capacity of the Participant's account for settlement sufficient to execute and settle payment transactions, or to take action that combines between the previously mentioned alternatives. Each Participant must set and execute procedures capable of preventing unsettled payment transactions in the queue at end of day, and in the case of a failure to follow these procedures, CBK can stop the Participant from using the system pursuant to the provisions of article (5) of these KASSIP Regulations. 12- Future Value Payment Transactions
Participants can submit to CBK, payment transactions with future value, according to the form and manner described in the Operational Procedures. CBK shall save these transactions in a series of postpaid payment transactions and submit it for execution and settlement on the value date. Operational Procedures contain all details on procedures for payment transactions with future value. 13- Kuwait's Automated Settlement System for Inter-participant
Payments (KASSIP)-Transactions in Course
13-1 CBK can, in accordance with its absolute power, set from time to time the Start of Day, 13-2 CBK shall be free to accept or decline any payment transaction after Cut-off Time or 13-3 The Operational Procedures and the Participant User Guide illustrate all operations and procedures relating to Cut-off Time, Start of Day and KASSIP End of Day as well as rejecting payment transactions received after these hours. 13-4 CBK can, in accordance with its absolute power, specify other Cut-off timings during the period from Start of Day till KASSIP End of Day. 13-5 The Operational Procedures and the Participant User Guide illustrate all operations and procedures relating to other Cut-off timings. 13-6 CBK can, as a bank, do settlements and send payment advices on behalf of its customers or itself, at any time before KASSIP End of Day. 14- Suspension of KASSIP
CBK can, in accordance with its absolute power, suspend KASSIP’s operations. The Operational Procedures include operations and procedures relating to CBK’s suspension of KASSIP. 15- Contingency and Fall Back Procedures
Participants must follow the arrangements of Contingency and Fall Back Procedures, as agreed to in writing from time to time with CBK. CBK can give instructions to Participants regarding the use of Contingency and Fall Back Procedures set by CBK. The Operational Procedures illustrate the details relating to setting and using Contingency and Fall Back Procedures. 16- Security
CBK shall define the processes and procedures relating to the security of KASSIP including operations which are executed between the Participants as well as sending transactions to and from CBK. CBK may, according to its absolute power, monitor the compliance of the Participants to the processes and procedures relating to the security of KASSIP established by CBK as it can, if necessary, take any corrective action against the violator Participant. Used Smart Cards within KASSIP remain the property of CBK, and therefore in case if any bank has ordered a card for one of its employees and has later defeated the purpose of use for any reason; the bank must return the card to CBK. Participants must ensure that no users of the system from the employees in their organizations shall use the smart card except for the purposes for which it was provided and in accordance with the instructions of use. Participants will be responsible for any consequences arising from the misuse of the smart card by their employees. CBK shall not be liable for any consequences due to the misuse of the smart card. 16-7 The Operational Procedures explains the details concerning the status of the maintenance and observance of processes and procedures issued by CBK regarding the security aspects of the system. 17- SWIFT
17-1 All Participants must be members in SWIFT and able to send and receive messages through the SWIFT network, except in the cases approved by CBK. 17-2 All participants in SWIFT must comply with its rules and procedures issued by SWIFT 17-3 If CBK decides to cooperate with SWIFT to form a closed user group, Participants who have membership in SWIFT must join the closed user group and comply with the rules of this group as defined by both SWIFT and CBK. 18- CBK-net
18-1 Network Selection
18-1-1 Each Participant must choose the provider of the network in order to send and receive CBK-net transactions through it. 18-2 Responsibility of the Network

18-2-1 Safety and Security of Data
18-2-1-1 CBK shall not be liable for any losses of any kind or any obligations or penalties related to using the network selected by the Participant. 18-2-1-2 Each Participant must take all measures including (but not limited to) the use of encryption technologies and other measures determined by CBK from time to time in order to ensure that transactions sent to CBK over the network is not compromised or modified in a non-authorized way. 18-2-2-1 Each Participant must include in the agreement with the Network Supplier, requirements to ensure continuity of service and un-interruption in the case of transforming mode of operation to the Participant Fall Back measures. 18-2-2-2 CBK shall not be liable for any losses or any obligations or penalties related to network operation selected by the Participant. 18-2-3-1 CBK shall not be liable for any expenses imposed by the Network 19- Liquidity Support
19-1 CBK has absolute power to provide Participants with Intra-day Liquidity Support. 19-2 The Participant acquiring any Liquidity Support has to pay the amount and/or re-pay it prior to the Final Cut-off or End of Day as determined by CBK. 19-3 In case providing Liquidity Support by CBK is subject to submitting a debt guarantee to CBK by the concerned Participant, CBK alone has the right to determine and accept the submitted guarantee. 19-4 CBK can request additional documentation from Participants before providing Liquidity Support. In this case, these documents must provide that any breach to the terms herein is considered a violation to these Regulations. 19-5 The Operational Procedure and the Participant User Guide both include all details relating to operations and procedures of Liquidity Support. 20- Risk Management
20-1 Participants must fully comply with the regulations determined from time to time by CBK for avoiding risk and Risk Management. 20-2 The Participant shall be solely liable for the consequences of failure to pay or failure to return the amount provided by CBK for Intra-day Liquidity Support. 21- Pricing
21-1 CBK is entitled to impose fees on Participants for installing KASSIP and other basic costs incurred by CBK for setting and operating this system. 21-2 CBK shall notify the Participants from time to time on the list of fees charged, at least 30 days prior to the date of applying a list of new or modified charges. 21-3 The Operational Procedures includes details on operations and procedures relating to 22- Changes to KASSIP
22-1 CBK reserves the right to introduce modifications to KASSIP including: amendments in the documentation, software and hardware specifications, operations and procedures related to System Security, special standards for messages and daily operating cycle, the number and nature of Participants, Contingency and Fall back operations and procedures. 22-2 Participants may propose modifications to KASSIP, noting that CBK is not obliged to 22-3 Participants must cooperate fully in the implementation of any modifications in the 22-4 CBK is entitled to suspend any Participant who does not cooperate as required by CBK in the implementation of any modifications to KASSIP. 22-5 The Operational Procedures include details on operations and procedures relating to


Stress ulcer prophylaxis

GUIDELINES FOR APPROPRIATE STRESS ULCER PROPHYLAXIS The following information, derived from the ASHP guidelines, can be used as a screening tool to determine appropriateness of prophylaxis. Medical Intensive Care Unit patients ONE OR MORE OF THE FOLLOWING RISK FACTORS • Likely to require mechanical ventilation for > 48 hours • Non-intentional coagulapathy, i.e. not on warfarin

Microsoft word - cp 3-116 blood and blood component 2-10[1].doc

Transfusion-Free Medicine Program (TFMP): Enrollment 1. To describe the operational process for enrollment in the Transfusion-Free Medicine Program (TFMP). 2. To identify persons who refuse blood product administration and to respect their convictions regarding 1. Each patient has the right to participate actively in decisions regarding his/her medical care. To the extent permitted by l

Copyright © 2010-2014 Medical Pdf Finder