ACH Agreement Clause Samples
An ACH Agreement is a contractual provision that governs the use of Automated Clearing House (ACH) transactions between parties, typically a business and its bank or payment processor. It outlines the terms under which electronic payments, such as direct deposits or bill payments, are initiated, processed, and settled through the ACH network. The agreement may specify authorization procedures, responsibilities for errors or unauthorized transactions, and compliance with applicable regulations. Its core function is to establish clear rules and responsibilities for electronic fund transfers, thereby reducing the risk of disputes and ensuring smooth, secure payment processing.
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ACH Agreement. If I request Automated Clearinghouse (“ACH”) transactions from my Account at Clearing Firm, I authorize Clearing Firm to originate or facilitate transfer credits/debits to/from my eligible bank account. Transactions sent through the NACHA network will be subject to all applicable rules of NACHA and all rules set forth in Federal Reserve Operating circulars or other applicable laws and regulations. ACH deposits to my brokerage account are provisional. If the beneficiary bank does not receive final and complete payment for a payment order transferred through ACH, the beneficiary bank is entitled to recover from the beneficiary any provisional credit and Clearing Firm may charge my account for the transaction amount. I understand Clearing Firm or my Broker may not notify me of any returned or rejected ACH transfers. I agree to hold Clearing Firm and Clearing Firm’s agents free of liability for compliance with these instructions. I hereby agree to hold harmless Clearing Firm and each of its affiliates, offices, directors, employees, and agents against, any claims, judgments, expenses, liabilities or costs of defense or settlement relating to: (a) any refusal or failure to initiate or honor any credit or debit request, by Clearing Firm or my Broker, whether (i) due to a lack of funds necessary to credit my account; (ii) due to inadvertence, error caused by similarity of account holder names or (iii) otherwise provided Clearing Firm has not acted in bad faith; (b) if the routing number is incorrect or the routing number or other information changes at another U.S. financial institution or (c) any loss, damage, liability or claim arising, directly or indirectly, from any error, delay or failure which is caused by circumstances beyond Clearing Firm’s direct control. To the extent permitted by applicable law or regulation, Clearing Firm hereby disclaims all warranties, express or implied, and in no event shall Clearing Firm be liable for any special indirect, incidental, or consequential damages whatsoever resulting from the ACH electronic service or any ACH transactions. Nothing in this herein shall constitute a commitment or undertaking by Clearing Firm or my Broker to effect any ACH transaction or otherwise act upon my instructions or those of my Broker with respect to any account at Clearing Firm. This authorization shall remain in full force and effect until I revoke authorization by written notification to my Broker that is forwarded to Clearing Firm. I under...
ACH Agreement. Authorization and Agreement for Automated Clearing House (ACH) Debits and Credits Company: ----------------------------------------------------------------------- I (we) authorize: Q COMM International, Inc. herein after called "Company", to initiate credit and or debit entries and adjustments for any credit entries in error to my (our) checking account indicated below and the depository named below, herein after called "Depositor", and to credit and/or debit the same such account. Depositor name (Bank name): ------------------------------------------------------------------------ Address: ----------------------------------------------------------------------- City, State and Zip or Postal Code: --------------------------------------------- Phone Number: Fax Number: -------------------------- ----------------------------- Bank Service Representative: --------------------------------------------------- Transit Number/ABA Number: ----------------------------------------------------- Account Number: ---------------------------------------------------------------- This authority is to remain in full force and effect until Company has received written notification from me (us). By: By: Q COMM Inc. --------------------------------- - (Please Print) Its: Client Mgr: -------------------------------- --------------------------- (Title) Signed: H O: ----------------------------- ---------------------------------- PLEASE ATTACH A VOIDED CHECK OR DEPOSIT SLIP TO THIS FORM. WE NEED THIS TO GET THE ACTUAL ROUTING AND ACCOUNT NUMBERS. Any errors and/or disputes must be corrected within two banking days of the initiating transaction. Thank you for your confidence and trust. SCHEDULE "C" CUSTOM/PRIVATE LABEL CARD TERMS AND CONDITIONS
ACH Agreement. By requesting Automated Clearing House (ACH) transactions from your Firstrade account, you authorize Firstrade to initiate or facilitate transfers to or from your eligible bank account. These transactions, processed through the NACHA network, comply with all NACHA rules, Federal Reserve Operating Circulars, and applicable laws and regulations. ACH deposits into your Firstrade account are provisional; if the beneficiary bank does not receive final payment, it may reclaim any provisional credit, and Firstrade may debit your account for the transaction amount. You acknowledge that Firstrade may not notify you of returned or rejected ACH transactions, and you agree to release Firstrade and its agents from liability related to these instructions. Additionally, you agree to indemnify Firstrade and its affiliates, officers, directors, employees, and agents against any claims, liabilities, or costs related to (a) refusal or failure to process a credit or debit request, including due to insufficient funds, error, or other reasons provided Firstrade has not acted in bad faith; (b) incorrect or outdated routing or account information; or (c) errors, delays, or failures due to factors outside Firstrade’s control. Firstrade disclaims all warranties, express or implied, and shall not be liable for any special, indirect, incidental, or consequential damages arising from ACH services or transactions to the extent permitted by law. Nothing in this agreement obligates Firstrade to process any ACH transaction or act on your or Firstrade’s instructions. This authorization remains effective until you revoke it in writing to Firstrade, which reserves the right to terminate or suspend the ACH agreement at any time without notice. An ACH debit transfer may be reversed or rejected if (A) there are insufficient funds; (B) there’s a duplicate transaction; (C) the transaction is denied by the bank; (D) the External Account does not support ACH transfers; or (E) there’s suspected fraud or illicit activity. You acknowledge that ACH reversals may incur a fee; consult the most recent Firstrade Financial Fee Schedule in the Disclosure Library. You agree to bear sole responsibility for any fees related to ACH reversals.
ACH Agreement. An original of the ACH authorization agreement, duly executed by Borrower;
ACH Agreement. Lender shall have received from Borrower an agreement executed by Borrower which irrevocably authorizes Lender to initiate manual and automatic electronic (debit and credit) entries through the Automated Clearing House or other appropriate electronic payment system to all deposit accounts maintained by Borrower, wherever located.
ACH Agreement. If I request Automated Clearinghouse (“ACH”) transactions from my Account at Clearing Firm, I authorize Clearing Firm to originate or facilitate transfer credits/debits to/from my eligible bank account. Transactions sent through the NACHA network will be subject to all applicable rules of NACHA and all rules set forth in Federal Reserve Operating circulars or other applicable laws and regulations. ACH deposits to my brokerage account are provisional. If the beneficiary bank does not receive final and complete payment for a payment order transferred through ACH, the beneficiary bank is entitled to recover from the beneficiary any provisional credit and Clearing Firm may charge my account for the transaction amount. I understand Clearing Firm or my Broker may not notify me of any returned or rejected ACH transfers. I agree to hold Clearing Firm and Clearing Firm’s agents free of liability for compliance with these instructions. I hereby agree to hold harmless Clearing Firm and each of its affiliates, offices, directors, employees, and agents against, any claims, judgments, expenses, liabilities or costs of defense or settlement relating to: (a) any refusal or failure to initiate or honor any credit or debit request, by Clearing Firm or my Broker, whether (i) due to a lack of funds necessary to credit my account; (ii) due to inadvertence, error caused by similarity of account holder names or (iii) otherwise provided Clearing Firm has not acted in bad faith; (b) if the routing number is incorrect or the
ACH Agreement. If I request Automated Clearinghouse (“ACH”) transactions from my Account at Clearing Firm, I authorize Clearing Firm to originate or facilitate transfer credits/debits to/from my eligible bank account. Transactions sent through the NACHA network will be subject to all applicable rules of NACHA and all rules set forth in Federal Reserve Operating circulars or other applicable laws and regulations. ACH deposits to my brokerage account are provisional. If the beneficiary bank does not receive final and complete payment for a payment order transferred through ACH, the beneficiary bank is entitled to recover from the beneficiary any provisional credit and Clearing Firm may charge my account for the transaction amount. I understand Clearing Firm or my Broker may not notify me of any returned or rejected ACH transfers. I agree to hold Clearing Firm and Clearing Firm’s agents free of liability for compliance with these instructions. I hereby agree to hold harmless Clearing Firm and each of its affiliates, offices, directors, employees, and agents against, any claims, judgments, expenses, liabilities or
ACH Agreement. 7.1 The undersigned hereby authorizes retailcloud or its duly assigned agent to initiate debit/credit entries to the checking account provided. This privilege is to be used for all expenses authorized by Licensee either verbally or in writing as they pertain to this Agreement. The authority is to remain in full force and effect until (a) retailcloud has received written notification from the Licensee of its termination of the Agreement in such a manner as to afford retailcloud reasonable opportunity to act on it; and (b) all obligations of licensee to retailcloud have been in paid in full. A $35 processing fee will be assessed for each charge that is returned unpaid.
7.2 All completed sales are final. In any action brought by a party hereto to enforce the obligations of any other party hereto, the prevailing party shall be entitled to collect from the opposing party to such action such party's reasonable litigation costs and attorney’s fees and expenses (including court costs, reasonable fees of accountants and experts, and other expenses incidental to the litigation).