Clearinghouse System definition

Clearinghouse System m eans the clearing house operated by the Beneficiary as a central counterparty for the clearing of financial electricity and other contracts and the services provided by it in connection with such arrangem ents;
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Examples of Clearinghouse System in a sentence

  • An employee may be paid by direct deposit to a checking or savings account at any financial institution that is a member of the U.S. Federal Reserve Automated Clearinghouse System.

  • Except for certain types of international wires, wire transfer orders do not apply to funds transfers taking place through the Automated Clearinghouse System.

  • For the reimbursement of salaries and wages paid by the SWPM to Personnel, the Port Authority agrees to provide such reimbursement through the use of the Automated Clearinghouse System or another mutually agreed upon electronic payment system.

  • Seller shall execute an agreement (the “ACH Authorization”) acceptable to Purchaser to authorize the use of the Automated Clearinghouse System (ACH) to retrieve the Daily Payment from the Account.

  • This CMA provides for a computer match between ED’s Federal Student Aid Application File and the DOJ Denial of Federal Benefits and Defense Procurement Fraud Debarment Clearinghouse System (DFB/DPFD) database (formerly known as DEBARS).