Common use of Customer's Rights to Refund for Debit Entries Clause in Contracts

Customer's Rights to Refund for Debit Entries. Customer acknowledges the right of a Receiver to obtain a refund of the funds debited from Receiver's account by such customer's sending of a notice to the Receiving Bank within applicable regulatory timeframes Such Receiver’s notice must state the error, and demand that the amount of the Debit Entry be credited back to Receiver's account. Customer agrees to promptly reimburse Bank for all funds Customer has received when Receiver follows the procedures described in this paragraph 11.

Customer's Rights to Refund for Debit Entries. Customer acknowledges the right of a Receiver to obtain a refund of the funds debited from Receiver's account by such customer's sending of a notice to the Receiving Bank within applicable regulatory timeframes Such Receiver’s notice must state the error, and demand that the amount of the Debit Entry be credited back to Receiver's account. Customer agrees to promptly reimburse Bank for all funds Customer has received when Receiver follows the procedures described in this paragraph 11Section.

Customer's Rights to Refund for Debit Entries. Customer acknowledges the right of a Receiver to obtain a refund of the funds debited from Receiver's account by such customer's sending of a notice to the Receiving Bank within applicable regulatory timeframes Such Receiver’s notice must state the error, and demand that the amount of the Debit Entry be credited back to Receiver's account. Customer agrees to promptly reimburse Bank for all funds Customer has received when Receiver follows the procedures described in this paragraph 11.. ACH File Transmission‌