Common use of Execution times Clause in Contracts

Execution times. 9.1. We will ensure that the amount of the payment transaction is credited to the payee’s payment service provider’s account by the end of the Business Day following the Business Day we receive your payment Instruction if the payment transaction is: 9.1.1. in euro; 9.1.2. executed wholly within the United Kingdom in sterling; or 9.1.3. involves only one currency conversion between the euro and sterling, provided that (i) the currency conversion is carried out in the United Kingdom; and (ii) in the case of cross-border payment transactions, the cross-border transfer takes place in euro. 9.2. Where a payment transaction does not fall within the scope of clause 9.1 but is to be executed wholly within the EEA, we will ensure that the amount of the payment transaction is credited to the payee’s payment service provider’s account by the end of the fourth Business Day following the time of receipt of the payment Instruction. 9.3. In certain cases, the payee’s payment service provider may delay between receiving funds and making those funds available to the payee, and we are not responsible for this. 9.4. In some circumstances, intermediaries (such as correspondent banks) may be involved in an international payment and they or the beneficiary bank may deduct a charge or fee. We will use our reasonable endeavours to avoid such charges being incurred or to otherwise ensure that such charges are disclosed to you prior to our making the payment. However, where such charges cannot be avoided you agree to be liable for such charges or fees. If you notify us in advance that you require a specific amount to arrive in the beneficiary account, we may be able to calculate any undefined charges so that you are able to make a gross payment to cover these charges. You should ensure that you clearly discuss third party fees and charges when providing us with Instructions. We will not under any circumstances be liable for any direct or indirect losses that result from intermediary, correspondent, receiving bank or any other third-party fees or charges.