Common use of Processed Clause in Contracts

Processed. The Notification of Insurance Processing has been Confirmed or Rejected or is Pending and Pending and Rejected data have been passed to GECC for correction. Processing Month – The month GEFA has received the Notification of Insurance Processing from GECC to process. Reconciled/Reconciliation – Notification of Insurance Processing which is allocated to one of the following categories (and communicated back to the client within agreed Service Levels) – Confirmed, Pending and Rejected –and reconciled with cash received. Rejected – New business and cancellation records which result in a severe error as part of the interface validation process.