Payment Mandate definition

Payment Mandate means a Direct Debit Mandate or another valid payment instruction pursuant to an Other Payment Service.
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Payment Mandate. (Mandato di Pagamento) means the payment mandate issued by the Region pursuant to Article 35 of Law No. 724 of 23 December 1994, which is served by the Region on its Treasurer pursuant to which the Treasurer is required to allocate from time to time moneys in an amount sufficient to meet the Region’s obligations to pay interest and principal under the Notes when due, as described under Condition 2 (Status of the Notes).
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Payment Mandate means the prescribed written confirmation and authority obtained from a consumer, which may be amended from time to time as required by Law, containing the instruction and authority to deduct, certain amounts from such consumer’s banking account at specified intervals;
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Examples of Payment Mandate in a sentence

  • It shall be the responsibility of ACPAS to ensure that the Customer is provided with the Payment Mandate and that such Payment Mandate is updated in accordance with industry development and Laws.

  • In the event that a consumer completes and signs a payment mandate at a branch or business premise of the Customer, the Payment Mandate should immediately be submitted to ACPAS and thereafter the Customer is obligated to ensure that the original Payment Mandate is destroyed to such an extent that it cannot be reproduced.

  • If the Customer utilizes an external system for the completion and/or signature of Payment Mandates, it will be the obligation of the Customer to ensure that all amendments communicated to it by ACPAS are effected in such external system within a reasonable period of time and that a sample of the amended Payment Mandate is provided to ACPAS for approval, which approval will only be given at the sole discretion of ACPAS.

  • ACPAS is entitled to request a sample Payment Mandate, at any time and without prior notice, in order to monitor compliance in respect of Payment Mandates.

  • It is clarified that the Bank shall have the absolute discretion to either replace the Payment Mandate or to refuse acceptance of the same.

  • However, the Customer indemnifies ACPAS from any loss or liability which may arise as a result of the incorrect completion, signature or execution of the Payment Mandate or if the Payment Mandate was obtained by fraudulent means.

  • Should any person or authority require or request a copy of the Payment Mandate, the Customer is obligated to advise such person or authority that their request must be directed to ACPAS.

  • The Customer is prohibited from inducing or coercing any consumer who attends a branch or business premises of it, to complete and sign a Payment Mandate.


More Definitions of Payment Mandate

Payment Mandate wherever the context so requires, shall be deemed to include cheques, Post Dated Cheques (“PDC”), National Automated Clearing House (“NACH”) mandates, ‘Standing Instruction (“SI”)’ and other modes of payment as may be acceptable to the Bank.
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Payment Mandate hereinafter referred to as “PM”, shall be deemed to include auto debit mandate or NACH or any e-payment modes as defined by Reserve Bank of India from time to time.
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