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=U5= Sec676d -- Section 676d Typical contractual duties in an interbank payment contract
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=S=> BGB 676d. 1 By an interbank payment contract , an intermediate banking institution puts itself under a duty to another banking institution to forward a bank transfer amount , using credit transfer operations , to another banking institution or to the banking institution of the beneficiary .
=S=> BGB 676d. 2 The banking institution of the beneficiary is obliged to return the bank transfer amount to the transferring banking institution if it receives a notification to this effect from the transferring banking institution prior to receipt of the amount . In payment settlement systems , notice of termination need not be heeded from the point of time stipulated in the rules of the system on .
=U5= Sec676e -- Section 676e Equalisation claims
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=S=> BGB 676e. 1 If the cause for a late execution of a bank transfer lies in the area of responsibility of an intermediate banking institution , then the intermediate banking institution must compensate for the damage incurred by the transferring banking institution in fulfilment of the claims of the transferor under section 676b ( 1 ) .
=S=> BGB 676e. 2 The intermediate banking institution must with no additional charges and expenses , at the option of the transferring banking institution , either return to the transferring banking institution or transfer to the beneficiary the amounts retained by itself contrary to the transfer contract .
=S=> BGB 676e. 3 The banking institution that entered into an interbank payment contract with the transferring banking institution is obliged to return to the transferring banking institution the payments made that the transferring banking institution was obliged to make to the transferor under section 676b ( 3 ) . Each intermediate banking institution is obliged to return the payments made under sentence 1 or under this provision to the banking institution with which it entered into an interbank payment contract to forward the bank transfer . If the bank transfer is not executed because a banking institution has issued erroneous or incomplete instructions to the intermediate banking institution it instructed , then the claim of the former banking institution to reimbursement is excluded under sentences 1 and 2. The banking institution responsible for the error must compensate the transferring banking institution for the more extensive loss incurred by it in fulfilment of its duties under section 676c ( 1 ) .
=S=> BGB 676e. 4 Banking institutions involved in forwarding a transfer amount and not liable for compensation must independently research the whereabouts of the transfer amount and return the transfer amount they trace to the person entitled to the claim , less reasonable compensation for their research .
=S=> BGB 676e. 5 Where claims fail because the transferor specified the banking institution commissioned with forwarding , then the banking institution must put the transferor in the same position he would be in if section 676b ( 3 ) applied . Apart from this , section 676b ( 4 ) applies with the necessary modifications .
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