Common use of Availability and value date Clause in Contracts

Availability and value date. For the purposes of this Framework Contract, "value date" means, the time used by Kutxabank as a reference for calculating the interest of the funds paid or charged to one of the Client's payment accounts. The payment orders made by the Client or those in which he/she is the payee shall be subject to the following regime regarding the availability of the funds and the value date: a) When the Client deposits cash into a payment account, in the currency of said account, he/she may have the deposited amount available from the very moment in which the receipt of funds takes place. The value date of the receipt of funds shall be the day when such receipt is made. b) Kutxabank shall ensure the amount of the payment transaction ordered by the Client is paid into the account of the payee's service provider, at the latest, at the end of the following working day of the time of receipt of the payment order by Kutxabank, in accordance with aforementioned Section 3.2. This period shall be extended by one working day for paper-initiated payment transactions. The value date of the debit into the Client's payment account shall be no earlier than the amount of the payment transaction is debited into said account. When it is a transaction initiated by the Client and prior to the execution of the transaction, if requested by the Client for this specific payment transaction, Kutxabank shall provide explicit information on the maximum execution period as well as the expenses he/she must pay, including, when applicable, a breakdown of the amounts. c) In case the Client is the payee, Kutxabank shall establish the value date and availability of the amount of the payment transaction into the Client's account according to the following: (I) The value date of the debit into the Client’s payment account shall be no later than the working day on which the amount of the transaction is credited into the Kutxabank account. (II) Kutxabank shall ensure the amount of the transaction is available to the Client immediately after it is credited into the Kutxabank account, provided (i) it involves no currency conversion or (ii) if so, the conversion is carried out between the euro and the currency of a Member State or between the currencies of two Member States. This regime shall be applicable to all those transactions whose credit or debit takes place in payment accounts or other deposit accounts held by the Client in Kutxabank. In the case of cheques or other transactions subject to the suspensive condition, the aforementioned regime shall only be applicable when the final credit has been made into the Kutxabankaccount.

Availability and value date. For the purposes of this Framework Contract, "value date" means, the time used by Kutxabank CAJASUR as a reference for calculating the interest of the funds paid or charged to one of the Client's payment accounts. The payment orders made by the Client or those in which he/she is the payee shall be subject to the following regime regarding the availability of the funds and the value date: a) When the Client deposits cash into a payment account, in the currency of said account, he/she may have the deposited amount available from the very moment in which the receipt of funds takes place. The value date of the receipt of funds shall be the day when such receipt is made. b) Kutxabank CAJASUR shall ensure the amount of the payment transaction ordered by the Client is paid into the account of the payee's service provider, at the latest, at the end of the following working day of the time of receipt of the payment order by KutxabankCAJASUR, in accordance with aforementioned Section 3.2. This period shall be extended by one working day for paper-initiated payment transactions. The value date of the debit into the Client's payment account shall be no earlier than the amount of the payment transaction is debited into said account. When it is a transaction initiated by the Client and prior to the execution of the transaction, if requested by the Client for this specific payment transaction, Kutxabank CAJASUR shall provide explicit information on the maximum execution period as well as the expenses he/she must pay, including, when applicable, a breakdown of the amounts. c) In case the Client is the payee, Kutxabank CAJASUR shall establish the value date and availability of the amount of the payment transaction into the Client's account according to the following: (I) The value date of the debit into the Client’s payment account shall be no later than the working day on which the amount of the transaction is credited into the Kutxabank CAJASUR account. (II) Kutxabank CAJASUR shall ensure the amount of the transaction is available to the Client immediately after it is credited into the Kutxabank CAJASUR account, provided (i) it involves no currency conversion or (ii) if so, the conversion is carried out between the euro and the currency of a Member State or between the currencies of two Member States. This regime shall be applicable to all those transactions whose credit or debit takes place in payment accounts or other deposit accounts held by the Client in KutxabankCAJASUR. In the case of cheques or other transactions subject to the suspensive condition, the aforementioned regime shall only be applicable when the final credit has been made into the KutxabankaccountCAJASURaccount.