Receiving Institution definition
Examples of Receiving Institution in a sentence
When the Originating Institution has debited the amount subject of the funds transfer and service fee from the Source Account, and the Receiving Institution has credited the Beneficiary’s Account, the IBFT Instruction is deemed completed.
The COMPANY acknowledges that the account number matching of the specified Beneficiary Account with the Receiving Institution shall be sufficient for the implementation of the IBFT Instruction.
The Sending Institution obliges the Employee to follow the regulations of the Receiving Institution referred to in Article IV (3) below.
In addition, completion of a Service Transfer may be delayed if the Service Transfer is subject to review by the Sending Institution or Receiving Institution for fraud, regulatory or compliance purposes.
The Sending Institution shall designate, and shall provide to the Receiving Institution, the contact information for a staff person at the Sending Institution who is responsible for the oversight of the transfer of Qualifying Students.