Common use of Validation by Processing Institution Clause in Contracts

Validation by Processing Institution. We acknowledge that the Financial Institution is not required to (i) verify that a PAD has been issued in accordance with the particulars of this Authorization including, but not limited to, the amount; (ii) verify that any purpose of payment for which the PAD was issued has been fulfilled by XXXX as a condition to honoring a PAD issued on Our Account.

Appears in 4 contracts

Samples: gscsstorage.blob.core.windows.net, media.gscs.ca, Preston Early

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