Dishonor of a letter of credit means failure timely to honor or to take an interim action, such as acceptance of a draft, that may be required by the letter of credit.
E-Check means any check which You authorize the payee to process electronically. For joint accounts, read singular pronouns in the plural.
Drawee means a person ordered in a draft to make payment.
Certified check means a check accepted by the bank on which it is drawn. Acceptance may be made as stated in subsection (1) or by a writing on the check which indicates that the check is certified. The drawee of a check has no obligation to certify the check, and refusal to certify is not dishonor of the check.
Request for Payment means a payment application or declaration of expenditure submitted by the Member State to the Commission;
Application for Payment means Contractor’s monthly partial invoice for payment that includes any portion of the Work that has been completed for which an invoice has not been submitted and performed in accordance with the requirements of the Contract Documents. The Application for Payment accurately reflects the progress of the Work, is itemized based on the Schedule of Values, bears the notarized signature of Contractor, and shall not include subcontracted items for which Contractor does not intend to pay.
Check means a draft, other than a documentary draft, payable on demand and drawn on a bank or a cashier's check or teller's check. An instrument may be a check even though it is described on its face by another term, such as “money order”.
Self-Check means an integrated function that checks for a system failure on a continuous basis at least while the system is active.
Due for Payment means with respect to an Insured Amount, the Distribution Date on which Insured Amounts are due and payable pursuant to the terms of the Agreement.
Baggage Check means those portions of the Ticket which relate to the carriage of your Checked Baggage.
Credit Voucher means a document executed by a Merchant evidencing any refund or price adjustment relating to Cards to be credited to a Cardholder account.
Payment Item means each check, draft or other item of payment payable to a Borrower, including those constituting proceeds of any Collateral.
Final Drawing has the meaning specified in Section 3.05(i).
Drawing means the drawing or drawings specified in or annexed to the Specifications;
Police Check means a formal inquiry made to the relevant police authority in each State or Territory and designed to obtain details of an individual’s criminal conviction or a finding of guilt in all places (within and outside Australia) that the Grantee knows the person has resided in;
Voucher means an instrument where there is an obligation to accept it as consideration or part consideration for a supply of goods or services or both and where the goods or services or both to be supplied or the identities of their potential suppliers are either indicated on the instrument itself or in related documentation, including the terms and conditions of use of such instrument;
EFT means electronic funds transfer.
Payment card means a credit card, charge card, debit card, or any other card that is issued to an authorized card user and that allows the user to obtain, purchase, or receive goods, services, money, or anything else of value from a merchant.
Request for Letter of Credit means a written request for a Letter of Credit substantially in the form of Exhibit F, signed by a Responsible Official of Borrower and properly completed to provide all information required to be included therein.
Notice of Dishonor means the right to require the Note Holder to give notice to other persons that amounts due have not been paid.
Ultimate user means a person who lawfully possesses a
Improper Payment means: (a) any payment, offer, gift or promise to pay or authorization of the payment or transfer of other things of value, including without limitation any portion of the compensation, fees or reimbursements received hereunder or the provision of any service, gift or entertainment, directly or indirectly to (i) a Government Official; (ii) any director, officer, employee or commercial partner of a Party or its Affiliates; or, (iii) any other person at the suggestion, request or direction or for the benefit of any of the above-described persons and entities, for purposes of obtaining or influencing official actions or decisions or securing any improper advantage in order to obtain, retain or direct business; (b) payments made and expenses incurred in connection with performance of obligations under this Agreement that are not made and recorded with sufficient accuracy, detail, and control to meet the standards in applicable Anti-Corruption Laws; or, (c) any other transaction in violation of applicable Anti- Corruption Laws.
ACH means automated clearing house transfers.
Mistaken Internet Payment means a payment by a user through a ‘Pay Anyone’ internet banking facility and processed by an ADI through direct entry where funds are paid into the account of an unintended recipient because the user enters or selects a Bank/State/Branch (BSB) number and/or identifier that does not belong to the named and/or intended recipient as a result of:
Draft means a draft as defined in section 3104 or an item, other than an instrument, that is an order.
Downgrade Drawing has the meaning assigned to such term in Section 3.6(c).