Errors in Payment Orders Sample Clauses
The "Errors in Payment Orders" clause defines how mistakes in payment instructions are identified and addressed between parties. It typically outlines the responsibilities of both the sender and the recipient in verifying payment details, and may specify procedures for correcting errors, such as misdirected funds or incorrect amounts. This clause ensures that there is a clear process for resolving payment discrepancies, thereby minimizing financial risk and promoting trust in financial transactions.
Errors in Payment Orders. Customer agrees that Bank shall have no obligation to discover errors in Payment Orders and shall not be liable to Customer for errors made by Customer, including but not limited to errors made in identifying the beneficiary, or an intermediary or beneficiary’s bank, or for errors in the amount of the Payment Order. Bank shall likewise have no duty to discover and shall not be liable for duplicate Payment Orders issued by Customer. In the event that Customer makes an error or issues a duplicate Payment Order, Customer shall indemnify, defend all claims, and hold Bank harmless from any loss, damages, or expenses, including but not limited to attorneys’ fees, incurred by Bank as the result of completion of the funds transfer.
Errors in Payment Orders. Company agrees that Financial Institution shall have no obligation to discover errors in Payment Orders and shall not be liable to Company for errors made by Company, including but not limited to errors made in identifying the beneficiary, or an intermediary or beneficiary’s financial institution, or for errors in the amount of the Payment Order. Financial Institution shall likewise have no duty to discover and shall not be liable for duplicate Payment Orders issued by Company. In the event that Company makes an error or issues a duplicate Payment Order, Company shall indemnify, defend all claims, and hold Financial Institution harmless from any loss, damages, or expenses, including but not limited to attorneys’ fees, incurred by Financial Institution as the result of completion of the funds transfer.
Errors in Payment Orders. If a Payment Order describes the payee inconsistently by name and account number, (i) payment may be made on the basis of the account number even if you identify a person different from the named payee; or (ii) Rippling may, in its sole discretion, refuse to accept or may return the Payment Order. If a Payment Order describes a participating financial institution inconsistently by name and identification number, the identification number may be relied upon as the proper identification of the financial institution. If a Payment Order identifies a non-existent or unidentifiable person or account as the payee or the payee’s account, Rippling may, in its sole discretion, refuse to accept or may return the Payment Order.