Outgoing Payment Transactions Sample Clauses
The Outgoing Payment Transactions clause defines the rules and procedures governing payments made by one party to another under the agreement. It typically outlines the methods of payment, timing, and any required documentation or approvals for funds to be transferred. This clause ensures that all outgoing payments are handled in a consistent and transparent manner, reducing the risk of disputes or delays related to financial transactions.
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Outgoing Payment Transactions. Finductive undertakes to transfer funds to a Payee from the Account Holder’s Payment Account at the submission of the Account ▇▇▇▇▇▇’s Payment Order.
Outgoing Payment Transactions. Finductive undertakes to transfer funds to a Payee from the Account Holder’s Payment Account at the submission of the Account ▇▇▇▇▇▇’s Payment Order.
4.2.1. Submission of Payment Orders A Payment Order will be deemed to be submitted once it is inputted and authorised as prompted on the Platform. In order to make a Payment Order, the Account Holder has to provide Finductive with the following information: Beneficiary Name Beneficiary International Bank Account Number (IBAN) (or account number if resident in non-IBAN countries) Bank Identifier Code (BIC) Beneficiary Address Currency and Value Payment description and Other supporting documents as requested. All Payment Orders are initiated through the Portal. At the end of the process of a Payment Order on the Portal, the Account Holder will be provided with an irrevocable instruction to sign. This will be the Account Holder’s consent for us to process the Payment Order. Information pertaining to a particular Payment Order, including the applicable fees and charges are available before a payment is made. The Account Holder may however, at any time, make a request to Finductive in order to obtain the following information on an individual Payment Order: the maximum execution time the charges payable by the Account Holder a breakdown of the amounts of the Fees and any charge The following are the different kinds of outward payments which can be done from a Payment Account: