Common use of Payment by Electronic Funds Transfer Clause in Contracts

Payment by Electronic Funds Transfer. Section 51.012, Texas Education Code, authorizes UTSA to make any payment through electronic funds transfer methods. Provider agrees to receive payments from UTSA through electronic funds transfer methods, including the automated clearing house system (also known as “ACH”). Prior to the first payment under the Agreement, UTSA will confirm Provider’s banking information. Any changes to Provider’s banking information must be communicated to UTSA in writing at least thirty (30) days in advance of the effective date of the change.