Paying Institution definition

Paying Institution means the credit institution with which the Payer opened the Account to be debited or which was debited by the amount stipulated in the Direct Debit Instruction. Direct Debit Instruction (or IDD) means the Payment Instruction by direct debit issued by a Beneficiary and drawn from an Account of a Payer opened with a Paying Institution which can be: in intra-banking system when the Collecting Institution is the same with the Paying Institution; respectively, in inter-banking system, when the Collecting Institution is different from the Paying Institution. Debit Payment Instrument (or ID) represents any valid cheque, bill of exchange or promissory note issued according to the applicable law. Payment Instrument means any customized device and/ or any set of procedures agreed between the Client and BCR in order to initiate a Payment Operation or, in general for the supply of a Payment Service. Payment Instruction represents any payment instruction sent by the Client to BCR requesting the execution of a Payment Operation or, in general for the supply of a Payment Service. Direct Debit Mandate (or MDD) represents the mandate (given in written form) by which a Payer gives a permanent but revocable authorization to the Beneficiary to issue Direct Debit Instructions over his current bank account opened with the Paying Institution and to the Paying Institution to debit his current bank account by the amount stipulated in the Direct Debit Instructions. Moment of irrevocability represents the limit moment in time until which the Client can revoke or change the mandate or can reject an IDD, represented by the limit hour of a Working Day preceding the Finalization Date. Unique registration number of the mandate (or UMR or mandate Refference) is the unique reference of an interbanking Direct Debit Mandate in the Unique Registry of Mandates (or RUM). Reception moment represents the moment in which a Payment Instruction is received by BCR. Payment Transaction means an action initiated by the Client or another Ordering person or by the Beneficiary in order to deposit, transfer or withdraw funds in or from a Current Bank Account. Payment Order (or OP) means any Payment Instruction issued by the Ordering person to BCR based on a standardized pre-printed form made available by BCR, in compliance with the rules of Chapter XIII. Ordering person represents the Client or another authorized person sending to BCR a Payment Instruction according to the operating rights related to the ...
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Paying Institution means the credit institution with which the Payer opened the Account to be debited or which was debited by the amount stipulated in the Direct Debit Instruction. Direct Debit Instruction (or IDD) means the Payment Instruction by direct debit issued by a Beneficiary and drawn from an Account of a Payer opened with a Paying Institution which can be in intra-banking system when the Collecting Institution is the same with the Paying Institution; respectively, in inter-banking system, when the Collecting Institution is different from the Paying Institution.
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Examples of Paying Institution in a sentence

  • Direct Debit Mandate (or MDD) represents the mandate (given in written form) by which a Payer gives a permanent but revocable authorization to the Beneficiary to issue Direct Debit Instructions over his current bank account opened with the Paying Institution and to the Paying Institution to debit his current bank account by the amount stipulated in the Direct Debit Instructions.

  • The fee which a Fee Paying Institution pays to the Bank is the ‘Access Fee’.

  • Malicious intent among non-state actor adversaries is inherent by definition.

  • Fees are non-refundable, including in the event that a Fee Paying Institution merges or amalgamates with another entity or in the event of suspension or termination in accordance with clause A.9 of the Terms and Conditions.

  • Where a Fee Paying Institution fails to pay the Access Fee, the Bank reserves the right to suspend the Fee Paying Institution’s access to any or all of the Facilities under the SMF.

  • Within the Direct Debit Service regulated in the present section the Bank has the quality of the Paying Institution.

  • If that Fee Paying Institution is a Reserves Account Participant, the Bank reserves the right to deduct the amount payable from that Fee Paying Institution’s reserves account.

  • Alternatively, students may take an alternate course recommended by the department and approved by the Faculty of Graduate Studies and Research, but they must also obtain a passing grade.In calculating a student’s GPA, both the original failing grade and the grade received when the course is retaken or the alternate taken will be used.

  • If by the payment date, a Participant is no longer required to place Cash Ratio Deposits with the Bank, it will become a Fee Paying Institution and will be required to pay the Access Fee.

  • The Direct Debit Contract (DDC) and the Direct Debit Mandate shallalso allow the consultation of the current account balance of the CM opened with the Central Account Bank (BCR) or at a Paying Institution that has a direct debit agreement with the Central Account Bank (BCR) and the communication of this balance to the RCE at any time.

Related to Paying Institution

  • Sending institution means the institution of higher education of most recent previous enrollment by a transfer student at which transferable academic credit was earned.

  • Qualifying Institution means a United States commercial bank or trust company organized under the laws of the United States of America or a political subdivision thereof having assets of at least Ten Billion Dollars ($10,000,000,000) (net of reserves) and who satisfies the Credit Requirements.

  • Receiving Institution The college or university where a transfer student plans to enroll and to apply previously earned credit toward a degree program.

  • banking institution means a bank, bank and trust company, trust company, savings bank, private bank, or a national banking association, organized and doing business under the provisions of any law of this state, or of any other state of the United States, or under the provisions of any law of the United States of America.

  • Lending institution Any insurance company, federally insured commercial or savings bank, national banking association, savings and loan association, credit union, employees’ welfare, pension or retirement fund or system, corporate profit sharing or pension trust, college or university, endowment fund, real estate investment trust, or other institutional lender or financial enterprise, including, without limitation, any corporation qualified to be treated for federal tax purposes as a real estate investment trust, having a net worth of at least $50,000,000 acting on its own behalf or as agent on behalf of other Lending Institutions.

  • Training Institution means the Grantee.

  • Submitting Institution An organization who submitted a genomic dataset to an NIH-designated data repository (e.g., dbGaP).

  • Participating institution means an "institution" as defined in KRS 164.001 that actively participates in the federal Pell Grant program, executes a contract with the authority on terms the authority deems necessary or appropriate for the administration of its programs, and:

  • Selling Institution The entity obligated to make payments to the Issuer under the terms of a Participation Interest.

  • private institution (“sefydliad preifat”) means an institution which is not publicly funded;

  • State institution means a mental health institute, as defined in s. 51.01 (12), a center for the developmentally disabled, as defined in s. 51.01 (3), or a secure mental health facility at which persons are committed under s. 980.06.

  • Eligible lending institution means a financial

  • Home Institution means the institution where the student is currently enrolled as a degree seeking student and may be eligible for financial aid at the same institution.

  • the institution means the institution which the Corporation is established to conduct and any institution for the time being conducted by the Corporation in exercise of its powers under the Further and Higher Education Act 1992;

  • credit institution means a credit institution as defined in point (1) of Article 4(1) of Regulation (EU) No 575/2013;

  • Qualified Institution means a major U.S. commercial bank or a foreign bank with a U.S. branch office or a U.S. agency office with a Credit Rating of at least “A” by S&P and “A2” by Xxxxx’x and, if rated by Fitch, at least “A” by Fitch.”

  • Charitable Institution shall refer to an organization described in section 501(c)(3) of the Code (or any corresponding provision of a future United State Internal Revenue law) which is exempt from income taxation under section 501(a) thereof; and (iii) “presumptive remaindermen” shall refer to those Persons entitled to a share of a trust’s assets if it were then to terminate.

  • Eligible Institution Any of the following:

  • Public institution means any entity established or controlled by the federal government, state government, or a local government or municipality, including, but not limited, institutions of higher education and related research institutions.

  • Member Institution means a university that is a member of CUSC/CCREU.

  • payment institution means a legal person that has been granted authorisation in accordance with Article 10 to provide and execute payment services throughout the Union;

  • Custodial Institution means any Entity that holds, as a substantial portion of its business, financial assets for the account of others. An entity holds financial assets for the account of others as a substantial portion of its business if the entity’s gross income attributable to the holding of financial assets and related financial services equals or exceeds 20 percent of the entity’s gross income during the shorter of: (i) the three-year period that ends on December 31 (or the final day of a non-calendar year accounting period) prior to the year in which the determination is being made; or (ii) the period during which the entity has been in existence.

  • Ineligible Institution has the meaning assigned to such term in Section 9.04(b).

  • credit institutions means credit institutions as defined under Directive 2006/48/EC;

  • approved institution means an entity so named in a Certificate. From time to time the Fund may amend a previously delivered Certificate by delivering to the Transfer Agent a Certificate naming an additional entity or deleting any entity named in a previously delivered Certificate.

  • Qualified Trust Institution means an institution organized under the laws of the United States of America or any state thereof or incorporated under the laws of a foreign jurisdiction with a branch or agency located in the United States of America or any state thereof and subject to supervision and examination by federal or state banking authorities that at all times (i) is authorized under such laws to act as a trustee or in any other fiduciary capacity, (ii) has capital, surplus and undivided profits of not less than $250,000,000 as set forth in its most recent published annual report of condition and (iii) has a long term deposits rating of not less than “BBB+” by S&P.