ACH Payment Process Clause Samples
ACH Payment Process. American Express is not responsible for the content or format of ACH Instructions, and Company acknowledges and agrees that it is solely responsible for the accuracy of all information and instructions provided to American Express, including payment amounts and any bank account information of Company or Supplier. Company acknowledges that once submitted, ACH Instructions may not be amended or modified.
ACH Payment Process. American Express is not responsible for the content or format of ACH Instructions, and Company acknowledges and agrees that it is solely responsible for the accuracy of all information and instructions provided to American Express, including payment amounts and any bank account and other information of Company or Supplier. Company acknowledges that once submitted, ACH Instructions may not be amended, or modified or canceled. With respect to each ACH Payment requested by Company, Company acknowledges and agrees that it is making all representations and warranties under the Nacha Rules applicable to an Originator with respect to such ACH Payment. For each ACH Payment you request through the ACH Payment Service, you acknowledge and agree that you will, prior to requesting an ACH Payment, assure that sufficient funds are available in the Company Designated Account for American Express to debit the Company Designated Account and credit the American Express Designated Account in the amount of the ACH Payment, as specified in the related ACH Instructions. Company and American Express agree that upon receipt of complete ACH Instructions from Company and all other information and documents deemed necessary by American Express in connection with an ACH Payment, American Express shall (i) originate a debit Entry to the Company Designated Account for the purpose of crediting the American Express Designated Account in an amount equal to the amount set forth in such ACH Instructions and (ii) submit Company’s ACH Instructions to Company’s ODFI to initiate a credit Entry to credit the Supplier’s bank account held at the RDFI. ACH Instructions received after 5:30 P.M. (MST) on a business day or on a weekend or holiday will be submitted on the next business day. Company agrees that it is liable to pay for all ACH Payments initiated through the ACH Payment Service in advance, and in the event a debit Entry to the Company Designated Account is returned for any reason resulting in non-payment of funds to American Express, Company agrees to (i) immediately and upon demand credit the Company Designated Account with immediately available funds sufficient to allow American Express to debit the Company Designated Account in the full amount of the requested ACH Payment, (ii) make a direct payment to the American Express Designated Account in the full amount of the requested ACH Payment or (iii) otherwise agree with American Express on a method to immediately credit American Express ...