Value Dates Clause Samples
The VALUE DATES clause defines the specific dates on which financial transactions, such as payments or credits, are considered effective for accounting or interest calculation purposes. In practice, this clause determines when funds are deemed to be received or paid, which can affect the accrual of interest or the timing of obligations between parties. By clearly specifying these dates, the clause helps prevent disputes over when financial effects take place, ensuring clarity and consistency in the management of payments and related financial activities.
Value Dates. The Bank assigns a value date to the payment transaction, which is the reference date that it uses to calculate any interest applicable to the funds debited or credited on the account. The value dates applied by the Bank are shown in the Pricing Leaflet.
Value Dates. Any payment made from the Current Account, or to the Asset Account, shall be made for value in accordance with the provisions of Annex 1 (Value Dates).
Value Dates. It is expressly agreed by the Bank and the Customer that the value dates of transactions shall be used to determine an overall charge for the Bank services related to such transactions. The value dates mentioned in the Account statement, used for calculating any interest payable by the Customer, are specified in the fee conditions. The value dates may differ from one payment transaction to another. For transactions in euro performed in the European Economic Area, the credit value date may not be later than the business day during which the amount of the transaction is credited to the Bank’s account in the Interbank systems. The debit value date cannot be earlier than the date on which the amount of the transaction is debited from the Customer’s account.
Value Dates. ANNEX 1.1 PAYMENTS FROM THE CURRENT ACCOUNT Payment type Value date Check to the French Sellers Issue date Wire transfer to the French Sellers Issue date ANNEX 1.2 PAYMENTS TO THE ASSET ACCOUNT Payment type Value date Check payable by a bank located in Paris Date on which the payment is recorded by the Factor plus one (1) Business Day Check payable by a bank in France out of Paris Date on which the payment is recorded by the Factor plus one (1) Business Day Bank or postal wire transfer Transferee’s bank value date Foreign wire transfer Date on which the payment is recorded by the Factor
Value Dates. The value dates used for the main transactions carried out using the Personal Internet Banking Services are identical to the execution dates.