ACH Service definition
Examples of ACH Service in a sentence
Processor is authorized to establish such arrangements, on such terms deemed prudent by Processor, with such ACH Service concerning the electronic access to the Lockbox Account.
The Bank is authorized to communicate with any user entitled to use the ACH Service regarding the details of file transmissions or to accept requests for reversing transactions.
The ACH Service allows you to initiate credit and/or debit Entries by means of the Automated Clearing House Network pursuant to the terms of this Agreement and the rules of the National Automated Clearing House Association (“NACHA”) and the local Automated Clearing House Association (the "Rules").
All of Customer’s obligations and responsibilities under this Agreement will apply to the ACH Service Provider, and Customer’s separate agreement with the ACH Service Provider must so provide.
If Customer uses an ACH Service Provider to transmit ACH files to Bank and Customer and the ACH Service Provider have not entered into a Third-Party Service Provider Agreement, Customer (a) agrees that Service Provider is acting as Customer’s agent in the delivery of Files to Bank, and (b) agrees to assume full responsibility and liability for any failure of the ACH Service Provider to comply with the laws of the United States, the ACH Rules, and this Agreement.
Customer hereby indemnifies and holds Bank harmless for any losses, damages, fines, assessments, costs, and expenses incurred or suffered by Bank or any other person as a result of or arising from Customer’s use of ACH Service Provider, including fines or assessments incurred under or pursuant to the ACH Rules and attorneys' fees.
Bank’s sole responsibility shall be to transmit Bank approved transactions to the ACH Operator and Bank shall not have any responsibility for any ACH file handled by an ACH Service Provider until that point in time when Bank accepts and approves an ACH file from such ACH Service Provider for processing.
Notwithstanding the foregoing, Customer hereby authorizes the Bank to accept any ACH file submitted by the ACH Service Provider even if the ACH Service Provider has not been designated as a User or if the ACH Service Provider has not executed the ACH Service Provider Agreement.
Customer is solely responsible for maintaining compliance with the requirements of the ACH Service Provider, including obtaining any software updates.
Bank will not be liable for any losses or additional costs incurred by Customer as a result of any error by an ACH Service Provider or a malfunction of equipment provided by an ACH Service Provider.