Receipt and rejection of payment orders Sample Clauses

Receipt and rejection of payment orders. The moment that PCSIL receives a payment order will be that in which it is received by the Bank, regardless of whether it has been transmitted directly by the payer through a payment initiation provider or indirectly through the beneficiary. Orders received on a day that is not a business day for banking purposes will be deemed received the next business day. Orders received after the cut-off time established by PCSIL for each type of operation (which can be consulted at any time and for each type of operation at the general contact telephone number of PCSIL) will be considered received the next business day. If PCSIL and the User who initiates a payment order agree that its execution begins on a specific date or at the end of a certain period, or on the day that the payer has made funds available to PCSIL, it will be considered that the moment of receipt of the order is the agreed day for the purposes of the maximum term to pay the amount of the operation in payment service provider account. If this day is not a business day for the payment service provider, the payment order will be deemed received the next business day. The User acknowledges that it is his/her/its responsibility to provide PCSIL with complete, correct, unambiguous and precise payment orders. Therefore, the User assumes full responsibility for any error, omission, and / or ambiguity in said information that could cause payment orders to be rejected or incorrectly executed. PCSIL may reject payment orders in the event that there are signs of fraud or money laundering, as well as in cases where they do not meet the required conditions, do not contain sufficient information, are erroneous or there is not enough balance to execute them. In such cases, PCSIL will notify the User the rejection and, as far as possible, the cause of it and where appropriate, the procedure to rectify possible errors, unless a law prohibits such notification. The aforementioned notification may be made by telephone or telematic means and will be executed where appropriate, on the business day after the moment of rejection. This period may be extended by one business day for payment operations initiated on paper. Without prejudice to the provisions of the liability section, the User acknowledges that PCSIL will not be responsible for any loss or damage that he/she/it incurs or suffers as a result of the postponement or rejection of the execution of a payment order for the reasons indicated above. In case of rejecti...
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Related to Receipt and rejection of payment orders

  • Verification of payment claims Project promoters shall submit interim and final project reports containing information on project progress and incurred expenditure. In line with point i) of Article 5.6.2 of the Regulation incurred expenditure reported shall be subject to administrative verifications before the report is approved. Verifications to be carried out shall cover administrative, financial, technical and physical aspects of projects, as appropriate, and be in accordance with the principle of proportionality. Examination of proof of expenditure related to the administrative verifications may be carried out on a sample basis. Additionally, in line with point ii) of Article 5.6.2 of the Regulation on–the-spot verifications of projects, which may be carried out on a sample basis, shall be carried out. The detailed procedure for verification will be further detailed in the description of the Programme Operator’s management and control systems.

  • Payment Orders You may instruct the Credit Union to execute a Wire Transfer(s) on your behalf (each a “Payment Order”) by submitting the Payment Order to the Credit Union in such form as the Credit Union requires, and by following the procedures established by the Credit Union for verifying the authenticity of Payment Orders (“Security Procedure”).

  • Payment Order an order from the Payer or the Recipient to the provider of payment services to execute a Payment operation.

  • Stop Payment Orders If you do not want us to pay a check you have issued, you can request us to stop payment of that check. Any Authorized Representative may order us to stop payment on a check and we will charge a fee. See the fee schedule applicable to your Account for details. Your stop payment order must include your Account number, the number and date of your check, the amount, and the name of the payee. We are not responsible for stop payment orders with incorrect or incomplete information. If you make your stop payment order orally and do not confirm it in writing within fourteen (14) calendar days, we may not continue to honor it. Our acceptance of a stop payment order will not constitute a representation that the Item has not already been paid or that the Bank has had a reasonable opportunity to act upon the order. Your stop payment order will take effect only after we receive all required documents from you, we verify that the check is unpaid, we record it on your Account, and we have had sufficient time to notify the impacted areas of the Bank (which may take several days), and we will not be liable if we pay the check or for any related Losses you incur before the stop payment order has taken effect. We cannot stop payment on a check we have already cashed or a deposited check where the funds have already been withdrawn. You may not stop payment on money orders issued by the Bank or on official, certified, cashier’s, or teller’s checks issued by the Bank. In addition, you may not stop payment on checks governed by separate agreement, such as a check guaranty agreement. Your stop payment order will be effective for six (6) months, and can be renewed for six (6) more months for an additional fee. We have no obligation to notify you when your stop payment order expires. If you want to release a stop payment order, you must tell us in writing. If the check is presented for payment after a stop payment order expires, we may pay the check. In some cases, we may pay a check even if a stop payment order is in effect. For example, if we or another person or entity becomes a “holder in due course” of a check that you ask us to stop, we may still pay the check. When you place a stop payment order, you agree to indemnify us for all Losses we incur due to our refusal to pay the Item. You assign to us all rights against the payee or any other holder of the check. You agree to cooperate with us in any legal actions that we may take against these parties. Applicable Law may permit other limitations on our obligation to stop payments. Refer to Section 8 of this Agreement, “Electronic Funds Transfers,” for how to place a stop payment on electronic payments.

  • Condition of Payment All services provided by the Contractor under this Contract must be performed to the State’s reasonable satisfaction, as determined at the discretion of the undersigned State representative and in accordance with all applicable federal, state, local laws, ordinances, rules and regulations. The State shall not be required to pay for work found to be unsatisfactory, inconsistent with this Contract or performed in violation of any federal, state or local statute, ordinance, rule or regulation.

  • Manner of Payment All payments due under this Agreement shall be in lawful money of the United States of America in immediately available funds as each party hereto may specify to the other parties; provided, that in the event the Receiver or the Corporation is obligated to make any payment hereunder in the amount of $25,000.00 or less, such payment may be made by check.

  • TERMS OF PAYMENT 16.1 The Supplier shall request for payment by submitting invoice(s), delivery note(s) and any other relevant documents as specified in the SCC to the Procuring Entity.

  • Conditions of Payment All services provided by the Contractor under Work Authorizations must be performed to the State’s satisfaction, as determined at the sole discretion of the State’s Authorized Representative and in accordance with all applicable federal, state, and local laws, ordinances, rules, and regulations including business registration requirements of the Office of the Secretary of State. The Contractor will not receive payment for work found by the State to be unsatisfactory or performed in violation of federal, state, or local law.

  • Order of Payments Checks, drafts, transactions, and other items may not be processed in the order that you make them or in the order that we receive them. We may, at our discretion, pay a check, draft, or item, and execute other transactions on your account in any order we choose. The order in which we process checks, drafts, or items, and execute other transactions on your account may affect the total amount of overdraft fees that may be charged to your account. Please contact us if you have questions about how we pay checks or drafts and process transfers and withdrawals.

  • Netting of Payments Subparagraph (ii) of Section 2(c) of this Agreement will apply to Transactions entered into under this Agreement unless otherwise specified in a Confirmation.

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