SEPA DIRECT DEBITS Sample Clauses
The SEPA Direct Debits clause governs the use of the Single Euro Payments Area (SEPA) direct debit system for making payments under the agreement. It typically outlines the procedures for authorizing direct debits, the responsibilities of both payer and payee, and any requirements for advance notice or revocation of payment instructions. For example, it may specify that the payer must provide a valid SEPA mandate and that payments will be automatically withdrawn from the payer’s bank account on agreed dates. This clause ensures a standardized, efficient, and secure method for cross-border euro payments within SEPA member countries, reducing administrative burdens and payment delays.
SEPA DIRECT DEBITS. This article applies to the Client in its capacity as drawee of SEPA direct debits. The SEPA direct debit makes it possible to process payment transactions in euros, whether domestic or cross-border, within the SEPA area. It is executed by the Bank if it is received in compliance with the rules set out in the It is based on a dual mandate giv en by the Client to its creditor and to the Bank, authorising its account to be debited. This mandate is written and is retained by the creditor. The SEPA direct debit may be used for one-off or recurring payments. The Client is identified by the IBAN and BIC. The Client has the possibility: - of ref using a SEPA direct debit by notifying the Bank in writing at the latest at the end of the business day preceding the interbank settlement date. - of ref using all SEPA direct debits initiated by a given creditor. It is recommended for the Client to inform its creditor when making such requests. The Bank draws the Client’s attention to the fact that: - ref usals may take place, i.e. ref usals to execute prior to interbank settlement, mainly for technical reasons, - returns may take place, i.e. refusals to execute after interbank settlement, mainly in the case of insufficient funds. The Client may contest with the Bank a SEPA direct debit taken from its account: - f or any reason, within a period of 8 weeks starting from the debit from its account. In the ev ent the debit is contested on the grounds that it was “unauthorised”, an inv estigation shall be undertaken by the Bank and the bank of the creditor in question. The Client acknowledges having been informed by the Bank that its account may be debited f or the amount of any reimbursement made by the Bank if, at the close of said inv estigation, its request is shown to be unfounded. In case of merger or acquisition of the Bank, the SEPA direct debits domiciled on the Client’s account will continue to be received and executed under the same conditions.
SEPA DIRECT DEBITS. 8.2.1 By definition, the SEPA Direct Debit service is only available for your creditors having a Euro account held in the SEPA zone.
8.2.2 To set up a SEPA Direct Debit, you (or the Third Party Provider acting on your behalf) must contact the Payee company directly. You (or the Third Party Provider acting on your behalf) must authorise the Payee to withdraw the funds from your online Account on the basis of the mandate provided by the Payee and completed by you. The mandate must mention your name and the Unique Identifier of your online Account.
8.2.3 You (or the Third Party Provider acting on your behalf) must return the completed mandate form to the Payee, whose payment service provider will then set up the SEPA Direct Debit.
SEPA DIRECT DEBITS. The borrower undertakes to maintain facility, in favor of the Lender and throughout the period of the loan, of paying by SEPA direct debit, all sums owed to the postal or bank account designated on the mandate signed by the Borrower and provided prior to the loan disbursement; the Borrower acknowledges and accepts that the first direct debit may be presented by the Lender, subject to compliance, with a minimum delay of 5 (five) working days starting from the date of signature of this document. In the event of a change in its postal or bank account, the Borrower must inform the Lender at least one month prior to the date of the next installment, and attach its new bank details to the request.
SEPA DIRECT DEBITS. 6.1 POST Finance executes SEPA Direct Debits on the basis of instructions received by the Payee or his/her bank. POST Finance is not required to verify the terms and amounts agreed between you and your Payee.
6.2 POST Finance cannot be held responsible for the accuracy of data provided by the Payee and may not be held liable for the validity or frequency of withdrawal requests made or the amounts charged to your Account. POST Finance cannot be held liable for any failure on the part of the Payee to fulfil his/her obligations, including the pre-notification obligation.
6.3 SEPA Direct debit requests will be regarded as instructions to withdraw the amount indicated from your Account. Any withdrawal request thus received by POST Finance will be considered to have come from the Payee indicated therein. POST Finance is not required to verify either the authenticity of the withdrawal request or its origin and shall not incur any liability in this respect.
6.4 POST Finance will refuse any withdrawal request based on the SEPA order of a Payee or his/her bank that is submitted more than 36 (thirty-six) months after the last withdrawal under the same SEPA order.
SEPA DIRECT DEBITS. This article applies to you in your capacity as payer of a SEPA direct debit. A SEPA direct debit allows the processing of payment transactions in euros, whether national or cross border, in the SEPA area. It is executed by the Bank if it is received in accordance with the rules set out in the SDD Core Rulebook. It relies on a dual mandate from you to the payee (creditor) and to the Bank authorising the direct debit of your account. It is a written mandate retained by the creditor. SEPA direct debits can be used for one-off or recurring payments. You are identified using the IBAN and the BIC numbers. Your may: - reject a SEPA direct debit by notifying the Bank in writing by end of the business day prior to the inter-bank settlement date. - reject all SEPA direct debits initiated by a particular creditor. You are urged to notify your creditor when you initiate such requests. duquel le bénéficiaire détient son compte aient tous deux activé ce service. Le virement SEPA instantané est utilisable pour les transactions libellées en euros, entre deux comptes tenus par des prestataires de services de paiement localisés dans l’Espace SEPA ou dans les territoires français du Pacifique (La Polynésie française, la Nouvelle Calédonie et ▇▇▇ ▇▇▇▇ ▇▇ ▇▇▇▇▇▇ et Futuna). Le virement SEPA instantané présente les caractéristiques suivantes : - Il peut être effectué 24h/24 et 7J/7. - Son montant maximum est de 100 000 €. - Il s’agit d’un virement occasionnel et ne peut être utilisé pour des paiements réguliers (virement permanent). - Les fonds sont crédités sur le compte du bénéficiaire dans un délai de 10 secondes maximum. Il peut atteindre 20 secondes en cas de difficultés exceptionnelles. Une fois le délai de 20 secondes dépassé, le virement est automatiquement rejeté. - Il ne peut faire l’objet d’un rejet après règlement interbancaire. - Il peut faire l’objet d’une demande de retour de fonds telle que visée au 29.2 ci-dessus.
SEPA DIRECT DEBITS. SDD
1. The SEPA Direct Debit (SDD) applies to transactions handled within SEPA according to the rules issued by the EPC. The Client may be the party making the payment (payer) or the one initiating the direct debit (payee). The provisions below consider each situation in turn.
2. The payer's instruction to authorise the debiting of their account by direct debit on presentation of orders issued by a payee is given in a written mandate sent via the payee's bank. The instructions given by the payer authorising payments from their account by direct debit upon presentation of orders issued by a payee are given by written mandate sent via the payee’s bank. Each mandate shall be identified by a unique reference number supplied by the payee and by the payee’s SEPA identification number. The debtor’s bank shall refuse and may decline to execute mandates that do not contain all necessary information or are not signed by the payer. Direct debit mandates may be used for a one-time transaction or for recurring orders. In the first case, or if it is the first transaction in a series, the interbank presentation time period for direct debit is five banking days. In the second case, the time period is two days from the second transaction in the series. When the payee replaces a direct debit service previously accepted by the payer with another direct debit service, the direct debit mandate, the direct debit authorisation and any stop-payment orders issued by the payer before the new direct debit service goes into effect shall remain valid. In departure from the provisions of Article 1188 of the Civil Code, the parties acknowledge that where the account holder does not challenge a direct debit with the same payee or their representative as recipient, this shall be accepted as proof of the existence and validity of the direct debit mandate and the direct debit authorisation. The direct debit mandate may be revoked at any time by giving written instructions to the payer’s bank. The revocation shall apply only to orders not yet executed.
3. The Client’s attention is drawn to the fact that prior to payment, the payer’s bank may be required to reject direct debits either on its own initiative or at the payer’s request. In addition, in certain cases, the payer's bank may ask the payee's bank to refund the amount of the direct debit from the date of payment, in order to credit back its client's account. This refund may be made at the initiative of the payer's bank within five bank...
SEPA DIRECT DEBITS. The borrower undertakes to the maintain for the benefit of the Lender, throughout the period of the loan, the possibility of paying all sums owed by SEPA direct debit to the bank account or postal account designated on the mandate signed by the Borrower and supplied prior to the disbursement of the loan; the Borrower acknowledges and accepts that the first direct debit may be presented by the Lender, subject to compliance with a minimum period of 5 (five) working days starting from the date of signing of this act. In the event of a change in the Borrower’s bank or postal account, it must inform the Lender of this at least one month before the date of the next instalment, and attach a new statement of account information to this request.
SEPA DIRECT DEBITS. 6.1 POST Finance executes SEPA Direct Debits on the basis of instructions received by the Payee or his/her bank. POST Finance is not required to verify the terms and amounts agreed between you and your Payee.
6.2 POST Finance cannot be held responsible for the accuracy of data provided by the Payee and may not be held liable for the validity or frequency of withdrawal requests made or the amounts charged to your Account. POST Finance cannot be held liable for any failure on the part of the Payee to fulfil his/her obligations, including the pre-notification obligation.
6.3 Withdrawal requests received in the context of a SEPA Direct Debit will be regarded as instructions to withdraw the amount indicated from your Account. Any withdrawal request thus received by POST Finance will be considered to have come from the Payee indicated therein. POST Finance is not required to verify either the authenticity of the withdrawal request or its origin and shall not incur any liability in this respect.
6.4 POST Finance will refuse any withdrawal request based on the SEPA order of a Payee or his/her bank that is submitted more than 36 (thirty-six) months after the last withdrawal under the same SEPA order.