Settlement Bank definition

Settlement Bank means a participant whose PM account or sub-account is used to settle AS payment instructions,
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Settlement Bank means Settlement Member or its Alternate Submission Location through which the Settlement Member provides CLS third party services.
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Settlement Bank means a settlement member of the CHAPS and Town Clearing systems who has entered into contractual arrangements with the CGO to provide Assured Payment facilities for members of the CGO;
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Examples of Settlement Bank in a sentence

  • Without limiting any of the foregoing, we confirm that following the entry by the Trustee into the Settlement, Bank of America Corporation, BAC Home Loans Servicing, LP, Countrywide Financial Corporation and/or Countrywide Home Loans, Inc.

  • The Account Holder furthermore consents to any exemptions from the Settlement Bank's duty of confidentiality which follow from the Settlement Bank Agreement.

  • The Settlement Bank shall forthwith transfer the handling of such claims to eSett and no expenses may be incurred without the written approval of eSett.

  • The account to be used for this purpose shall be agreed between the Account Holder and the Settlement Bank.

  • The Settlement Bank may provide such information in the MT941 format defined by SWIFT, or manually.


More Definitions of Settlement Bank

Settlement Bank means the bank which maintains the settlement accounts of all the member banks for settlement of clearing and / or other obligations.
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Settlement Bank means a bank designated as such by Clearing Corporation from time to time for settlement of transactions.
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Settlement Bank means a bank holding accounts with regards to payments, where the discharge of obligations arising from a payment system takes place;
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Settlement Bank means a recognised bank which Giveall uses to settle (i.e. to pay into) the merchant or any other funds.
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Settlement Bank means a ►M3 PM account holder ◄ whose PM account or sub-account is used to settle payment instructions submitted by an ancillary system via the ASI;
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Settlement Bank means a duly licensed commercial banking institution accredited by SCCP for the Clearing and Settlement of the Cash Element of SCCP- Eligible Trades.
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Settlement Bank means a participant whose PM account or sub-account is used to settle ancillary system payment instructions,
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