Common use of Third-Party Senders Clause in Contracts

Third-Party Senders. ‌ If you are a Third-Party Sender, as defined in the ACH Rules, the following additional terms shall apply: i. You agree to assume all liabilities and duties as a Third-Party Sender in accordance with the ACH Rules and assumes all liability for failure of a Client to perform its obligations as an Originator. ii. You authorize us to charge your account for any fines or penalties assessed by NACHA, OFAC or any organization incurred as a result of non-compliance by your or its Clients. iii. You are responsible to, and shall provide, us a list of all Clients where it acts on their behalf as a Third-Party Sender and agrees to provide information including the Client name, address, and any additional information required by us. iv. We must approve any new Client prior to you originating Entries for the Client. v. You must enter into a written agreement with its Clients to establish the following terms: • Clients shall be bound by the ACH Rules. • Clients assume the responsibilities and obligations of an Originator. • Clients are required to obtain authorization from every Receiver for all ACH Entries in accordance with ACH Rules. • You shall be permitted to set and modify exposure limits for Client activity. vi. You shall conduct regular audits of their Clients. vii. You acknowledge and agrees that it will be responsible for establishing and maintaining procedures to conduct periodic audits of its Clients to ensure the Client’s ACH Rule compliance and monitor its Clients’ creditworthiness and exposure. viii. You agree to permit us to audit the customer’s risk management processes, ACH Rules compliance, and credit analysis procedures to ensure you can meet our settlement requirements. ix. You agree not to be a Nested Third-Party Sender as defined by the ACH Rules. x. You have the sole responsibility to fulfill any compliance requirements or obligations that you may have with respect to its Client. xi. You must conduct “know your customer” due diligence and obtain and verify that Entries originated through Bank are for the Client’s lawful business activity. xii. You shall establish and maintain policies and procedures reasonably designed to comply with the laws on money laundering and terrorist financing, and the laws administered by OFAC. xiii. We shall not be liable for any damages or losses to you due to claims made by any Clients in connection with an arrangement by which you agree to transmit Entries for the Client.

Third-Party Senders. ‌ If you are a Third-Party Sender, as defined in the ACH Rules, the following additional terms shall apply: i. You agree to assume all liabilities and duties as a Third-Party Sender in accordance with the ACH Rules and assumes all liability for failure of a Client to perform its obligations as an Originator. ii. You authorize us to charge your account for any fines or penalties assessed by NACHA, OFAC or any organization incurred as a result of non-compliance by your or its Clients. iii. You are responsible to, and shall provide, us a list of all Clients where it acts on their behalf as a Third-Party Sender and agrees to provide information including the Client name, address, and any additional information required by us. iv. We must approve any new Client prior to you originating Entries for the Client. v. You must enter into a written agreement with its Clients to establish the following terms: • Clients shall be bound by the ACH Rules. • Clients assume the responsibilities and obligations of an Originator. • Clients are required to obtain authorization from every Receiver for all ACH Entries in accordance with ACH Rules. • You shall be permitted to set and modify exposure limits for Client activity. vi. You shall conduct regular audits of their Clients. vii. You acknowledge and agrees that it will be responsible for establishing and maintaining procedures to conduct periodic audits of its Clients to ensure the Client’s ACH Rule compliance and monitor its Clients’ creditworthiness and exposure. viii. You agree to permit us to audit the customer’s risk management processes, ACH Rules compliance, and credit analysis procedures to ensure you can meet our settlement requirements.our ix. You agree not to be a Nested Third-Party Sender as defined by the ACH Rules. x. You have the sole responsibility to fulfill any compliance requirements or obligations that you may have with respect to its Client. xi. You must conduct “know your customer” due diligence and obtain and verify that Entries originated through Bank are for the Client’s lawful business activity. xii. You shall establish and maintain policies and procedures reasonably designed to comply with the laws on money laundering and terrorist financing, and the laws administered by OFAC. xiii. We shall not be liable for any damages or losses to you due to claims made by any Clients in connection with an arrangement by which you agree to transmit Entries for the Client.

Third-Party Senders. ‌ If you are a Third-Party Sender, as defined in the ACH Rules, the following additional terms shall apply: i. You agree to assume all liabilities and duties as a Third-Party Sender in accordance with the ACH Rules and assumes all liability for failure of a Client to perform its obligations as an Originator. ii. You authorize us to charge your account for any fines or penalties assessed by NACHA▇▇▇▇▇, OFAC or any organization incurred as a result of non-compliance by your or its Clients. iii. You are responsible to, and shall provide, to us a list of all Clients where it acts on their behalf as a Third-Party Sender and agrees to provide information including the Client name, address, and any additional information required by us. iv. We must approve any new Client prior to you originating Entries for the Client. v. You must enter into a written agreement with its Clients to establish the following terms: • Clients shall be bound by the ACH Rules. • Clients assume the responsibilities and obligations of an Originator. • Clients are required to obtain authorization from every Receiver for all ACH Entries in accordance with ACH Rules. • You shall be permitted to set and modify exposure limits for Client activity. vi. You shall conduct regular audits of their Clients. vii. You acknowledge and agrees that it will be responsible for establishing and maintaining procedures to conduct periodic audits of its Clients to ensure the Client’s ACH Rule compliance and monitor its Clients’ creditworthiness and exposure. viii. You agree to permit us to audit the customer’s risk management processes, ACH Rules compliance, and credit analysis procedures to ensure you can meet our settlement requirements. ix. You agree not to be a Nested Third-Party Sender as defined by the ACH Rules. x. You have the sole responsibility to fulfill any compliance requirements or obligations that you may have with respect to its Client. xi. You must conduct “know your customer” due diligence and obtain and verify that Entries originated through Bank are for the Client’s lawful business activity. xii. You shall establish and maintain policies and procedures reasonably designed to comply with the laws on money laundering and terrorist financing, and the laws administered by OFAC. xiii. We shall not be liable for any damages or losses to you due to claims made by any Clients in connection with an arrangement by which you agree to transmit Entries for the Client.

Third-Party Senders. ‌ If you are a Third-Party Sender, as defined in the ACH Rules, the following additional terms shall apply: i. You agree to assume all liabilities and duties as a Third-Party Sender in accordance with the ACH Rules and assumes all liability for failure of a Client to perform its obligations as an Originator. ii. You authorize us to charge your account for any fines or penalties assessed by NACHA, OFAC or any organization incurred as a result of non-compliance by your or its Clients. iii. You are responsible to, and shall provide, to us a list of all Clients where it acts on their behalf as a Third-Party Sender and agrees to provide information including the Client name, address, and any additional information required by us. iv. We must approve any new Client prior to you originating Entries for the Client. v. You must enter into a written agreement with its Clients to establish the following terms: • Clients shall be bound by the ACH Rules. • Clients assume the responsibilities and obligations of an Originator. • Clients are required to obtain authorization from every Receiver for all ACH Entries in accordance with ACH Rules. • You shall be permitted to set and modify exposure limits for Client activity. vi. You shall conduct regular audits of their Clients. vii. You acknowledge and agrees that it will be responsible for establishing and maintaining procedures to conduct periodic audits of its Clients to ensure the Client’s ACH Rule compliance and monitor its Clients’ creditworthiness and exposure. viii. You agree to permit us to audit the customer’s risk management processes, ACH Rules compliance, and credit analysis procedures to ensure you can meet our settlement requirements. ix. You agree not to be a Nested Third-Party Sender as defined by the ACH Rules. x. You have the sole responsibility to fulfill any compliance requirements or obligations that you may have with respect to its Client. xi. You must conduct “know your customer” due diligence and obtain and verify that Entries originated through Bank are for the Client’s lawful business activity. xii. You shall establish and maintain policies and procedures reasonably designed to comply with the laws on money laundering and terrorist financing, and the laws administered by OFAC. xiii. We shall not be liable for any damages or losses to you due to claims made by any Clients in connection with an arrangement by which you agree to transmit Entries for the Client.

Third-Party Senders. ‌ If you are a Third-Party Sender, as defined in the ACH Rules, the following additional terms shall apply: i. You agree to assume all liabilities and duties as a Third-Party Sender in accordance with the ACH Rules and assumes all liability for failure of a Client to perform its obligations as an Originator. ii. You authorize us to charge your account for any fines or penalties assessed by NACHA▇▇▇▇▇, OFAC or any organization incurred as a result of non-compliance by your or its Clients. iii. You are responsible to, and shall provide, us a list of all Clients where it acts on their behalf as a Third-Party Sender and agrees to provide information including the Client name, address, and any additional information required by us. iv. We must approve any new Client prior to you originating Entries for the Client. v. You must enter into a written agreement with its Clients to establish the following terms: • Clients shall be bound by the ACH Rules. • Clients assume the responsibilities and obligations of an Originator. • Clients are required to obtain authorization from every Receiver for all ACH Entries in accordance with ACH Rules. • You shall be permitted to set and modify exposure limits for Client activity. vi. You shall conduct regular audits of their Clients. vii. You acknowledge and agrees that it will be responsible for establishing and maintaining procedures to conduct periodic audits of its Clients to ensure the Client’s ACH Rule compliance and monitor its Clients’ creditworthiness and exposure. viii. You agree to permit us to audit the customer’s risk management processes, ACH Rules compliance, and credit analysis procedures to ensure you can meet our settlement requirements. ix. You agree not to be a Nested Third-Party Sender as defined by the ACH Rules. x. You have the sole responsibility to fulfill any compliance requirements or obligations that you may have with respect to its Client. xi. You must conduct “know your customer” due diligence and obtain and verify that Entries originated through Bank are for the Client’s lawful business activity. xii. You shall establish and maintain policies and procedures reasonably designed to comply with the laws on money laundering and terrorist financing, and the laws administered by OFAC. xiii. We shall not be liable for any damages or losses to you due to claims made by any Clients in connection with an arrangement by which you agree to transmit Entries for the Client.