Paying Bank definition

Paying Bank means the account holding bank of the accounts, from which the funds are debited in the interbank fund transfers transaction;
Paying Bank means the United States financial institution ordered in an Item to make payment to the payee(s) named on the Item.
Paying Bank refers to the financial institution on which a check is drawn and through which it is payable.

Examples of Paying Bank in a sentence

  • Payment to the Supplier(s) Immediately after the proceeds of the Loan disbursed by JICA have been credited to the Loan Account, the Borrower shall cause the Paying Bank to make a cable advice to the Agent Bank.

  • The Borrower shall send, to the Paying Bank, Transfer Instruction for Type A accompanied by a copy of the Request for Disbursement and Claims for Payment.

  • A Reserve Bank charges the fees to the account maintained or used by the Paying Bank.

  • Immediately after the proceeds of the Loan disbursed by JICA has been credited to the Loan Account, the Borrower shall cause the Paying Bank to transfer the disbursed amount to the corresponding account(s) of the Supplier(s) as specified in the Claims for Payment.

  • In the case of a Type A Request for Disbursement, JICA shall, using the Online Transfer Instruction, make commercially reasonable efforts to cause the Paying Bank to transfer the disbursed amount without delay to the corresponding account(s) of the Supplier(s) registered with the System in advance pursuant to Section 8.02.


More Definitions of Paying Bank

Paying Bank means a financial institution which credits the funds remitted to the payee account or pays the same to the payee.
Paying Bank in respect of a CITS Item shall mean a CITS participant to whom an Article is drawn.
Paying Bank means the entity engaged by the Issuer to make the payments ordered by Monte Titoli, handled as part of the Corporate Events Support Service;
Paying Bank means the Bank who is obliged to pay the beneficiary the amount/sum of monies instructed by one to another party.
Paying Bank means: o The bank by which a check is payable, unless the check is payable at another bank and is sent to that bank for payment or collection; o The bank at which a check is payable and to which it is sent for payment or collection; o The Federal Reserve Bank or Federal Home Loan Bank by which a check is payable; o The bank through which a check is payable and to which it is sent for payment or collection, if the check is not payable by a bank; or o The state or unit of general local government on which a check is drawn and to which it is sent for payment or collection. Paying bank includes the bank through which a check is payable and to which the check is sent for payment or collection, regardless of whether the check is payable by another bank, and the bank whose routing number appears on a check in fractional or magnetic form and to which the check is sent for payment or collection. A paying bank also includes the Treasury of the United States or the United States Postal Service for a check that is payable by that entity and that is sent to that entity for payment or collection. • “Product” means collectively the procedures, protocols, and Software used by the Bank and its licensors and contractors in connection with the electronic processing of Items, and includes without limitation the On-Site Teller Service and Mobile Banking Deposit Service.
Paying Bank means the commercial Bank acceptable to the Association selected under terms and conditions satisfactory to the Association selected to facilitate the payment to Internal Debt creditors of the Internal Debt Tranches.
Paying Bank means a bank by which a Check is payable, unless the Check is payable at or through another bank and is sent to the other bank for payment or collection; or a bank at or through which a Check is payable and to which the Check is sent for payment or collection.