Common use of TRANSACTION DATE Clause in Contracts

TRANSACTION DATE. Any transaction effected via the Service after the daily cut-off time shall be treated as a transaction on the next business day or such other day as we may at our absolute discretion determine, and will be subject to our usual processing time, as may from time to time be amended. For purposes hereof, the term "business day" shall mean any day on which banks in The Bahamas and the Bank of The Bahamas are open for banking business, excluding Saturdays, Sundays and public holidays. While Bank of The Bahamas branches may operate Saturday Banking, transactions conducted at Saturday banking shall be posted on the following business day.

Appears in 2 contracts

Sources: Online Banking Agreement, Online Banking Agreement