Incorrect Settlement Clause Samples
The Incorrect Settlement clause defines the procedures and responsibilities when a payment or transfer is made in error between parties. Typically, this clause outlines the steps for identifying an incorrect settlement, the obligations of the party that received the erroneous funds to return them, and any timeframes or documentation required to correct the mistake. Its core practical function is to ensure that errors in financial transactions are promptly rectified, thereby minimizing financial risk and maintaining trust between the parties involved.
Incorrect Settlement. The information required for settlement will depend on the financial institution holding the Payout Account. Please make sure that any information about the Payout Accounts that you provide to us is accurate and complete. If you provide us with incorrect information (i) you understand that funds may be settled to the wrong account and that we may not be able to recover the funds from such incorrect transactions and (ii) you agree that you are solely responsible for any losses you or third parties incur due to erroneous settlement transactions, you will not make any claims against us related to such erroneous settlement transactions, and you will fully reimburse us for any losses we incur.
Incorrect Settlement. The information required for settlement will depend on the financial institution holding the Payout Account. Please make sure that any information about the Payout Accounts that you provide to us is accurate and complete. If you provide us with incorrect information (i) you understand that funds may be settled to the wrong account and that we may not be able to recover the funds from such incorrect transactions and
Incorrect Settlement. The information required for settlement will depend on the financial institution holding the Settlement Account. Please make sure that any information about the Settlement Accounts that you provide to us is accurate and complete. If you provide us with incorrect information (i) you understand that funds may
Incorrect Settlement. The information required for settlement will depend on the financial institution holding the Settlement Account. Please make sure that any information about the Settlement Accounts that you provide to us is accurate and complete. If you provide us with incorrect information (i) you understand that funds may be settled to the wrong account and that we may not be able to recover the funds from such incorrect transactions and (ii) you agree that you are solely responsible for any losses you or third parties incur due to erroneous settlement transactions, you will not make any claims against us related to such erroneous settlement transactions, and you will fully reimburse us for any losses we incur. If your account information changes or you decide that you want to switch to a different Settlement Account, you must notify us by following the procedures established by the Platform. The Platform might require you to provide notice of a change a certain number of days in advance of the change taking effect. You understand that this requirement exists to ensure that the Platform has sufficient time to notify us of the change and to give us time to reflect the change in our systems. We will not be responsible for any problems with a settlement that results from us using incorrect Settlement Account information because of your delay in providing notice to the Platform.