Pre-Authorized Orders – General Sample Clauses
The 'Pre-Authorized Orders – General' clause establishes the terms under which certain orders can be placed in advance without requiring separate, individual approval each time. Typically, this clause outlines the types of goods or services eligible for pre-authorization, the process for setting order limits, and any conditions or restrictions that must be met for such orders to be valid. By defining these parameters, the clause streamlines procurement processes and ensures efficiency, while also maintaining control and oversight over recurring or routine purchases.
Pre-Authorized Orders – General. If You agree to accept a pre-authorized order, the Cardholder shall execute and deliver to You a written request for such pre-authorization which will be retained by You and made available upon request to the Bank. You will not deliver goods or perform services covered by a pre-authorization after receiving specific notification that the pre-authorization is cancelled or that the card covering the pre-authorization is not to be honored.