Payment Posting/Processing Sample Clauses
Payment Posting/Processing. Consultant will process all payments for new and renewal accounts. License accounts will be updated with payment information and revenues will be remitted to the City net banking and related processing fees on no less than a monthly basis.
Payment Posting/Processing. Consultant will process and post payments to customer accounts in an expedited manner within 5-business days of receiving funds. License accounts will be updated daily with payment information and revenues to be disbursed to the City net applicable fees at an interval to be agreed to during the project planning phase. Disbursements shall be remitted monthly or twice a month depending on volumes and City needs. This directly ties to common customer inquiries that are received regarding status update on a business license account and is also consistent with best practices for cash handling and safekeeping of public funds.