Settlement Function definition

Settlement Function means the procedures required of and carried out by the Merchant via the Mobisolutions mobile application for the purposes of transmitting the data consisting of all the Payment Card Transactions and mobile wallet Transaction on a daily basis to Mobiversa to enable Mobiversa to submit the payment claims to the Issuing Bank through either the Card Schemes Payment System or mobile wallet.
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Settlement Function means a pre-programmed function in the P0S Terminal which when activated automatically transmits the
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Settlement Function. The procedures carried out via the Terminal for the purpose of transmitting data of Charges to the Bank to enable the Bank to make payment to the Merchant.
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Examples of Settlement Function in a sentence

  • In the event the Merchant fails to execute the Settlement Function by the seventh (7th) Calendar Days from the Card Transaction date, FCSB is entitled to charge the Merchant a late settlement fee.

  • Where a User has been undercharged for Goods sold or services rendered by the Merchant, the Merchant may raise a new and unsigned Transaction Slip (based on the relevant Payment Card or e-wallet account used in such transaction) for the additional amount and produce the same to GKASH for payment after performing the Settlement Function.


More Definitions of Settlement Function

Settlement Function means the function carried out on a Terminal which submits all Card Transactions and eWallet Transactions captured on a Terminal to the Bank or the Vendor or PayNet or the eWallet Operator as the case may be, for the Bank to make payment to the Merchant;
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Settlement Function means the transmission of payment request data carried out by the Merchant at the end of each day to initiate the process of clearance of the payment request made by a User for the provision of Goods by the Merchant enabling GKASH and/or the Acquirers to process such payment to the Merchant.
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Related to Settlement Function

  • School function means any school-sponsored extra-curricular event or activity.

  • Servicing Function Participant Any Additional Servicer, Sub-Servicer, Subcontractor or any other Person, other than the Certificate Administrator, the Operating Advisor, the Master Servicer, the Special Servicer and the Trustee, that is performing activities that address the Servicing Criteria, unless such Person’s activities relate only to 5% or less of the Mortgage Loans by unpaid principal balance calculated in accordance with the provisions of Regulation AB.

  • Distribution Function means the functions with regard to:

  • Commercially Useful Function means responsibility for the execution of a distinct element of the work of the contract, which is carried out by actually performing, managing, and supervising the work involved, evidencing the responsibilities and risks of a business owner such as negotiating the terms of (sub)contracts, taking on a financial risk commensurate with the contract or its subcontract, responsibility for acquiring the appropriate lines of credit and/or loans, or fulfilling responsibilities as a joint venture partner as described in the joint venture agreement.

  • Governmental function means an activity that is expressly or impliedly mandated or authorized by constitution, statute, local charter or ordinance, or other law. Governmental function includes an activity performed on public or private property by a sworn law enforcement officer within the scope of the law enforcement officer's authority, as directed or assigned by his or her public employer for the purpose of public safety.

  • Essential job functions means the fundamental job duties of the employment position an individual holds. A job function may be considered essential if-

  • critical functions means activities, services or operations the discontinuance of which is likely in one or more Member States, to lead to the disruption of services that are essential to the real economy or to disrupt financial stability due to the size, market share, external and internal interconnectedness, complexity or cross-border activities of an institution or group, with particular regard to the substitutability of those activities, services or operations;

  • Essential functions means the fundamental job duties of the employment position the individual with a disability holds or desires. "Essential functions" does not include the marginal functions of the position.

  • quality (functionality means the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs F.1.4 Communication and employer’s agentEach communication between the employer and a tenderer shall be to or from the employer's agent only, and in a form that can be read, copied and recorded. Writing shall be in the English language. The employer shall not take any responsibility for non-receipt of communications from or by a tenderer. The name and contact details of the employer’s agent are stated in the tender data. F.1.5 The employer’s right to accept or reject any tender offer F.1.5.1 The employer may accept or reject any variation, deviation, tender offer, or alternative tender offer, and may cancel the tender process and reject all tender offers at any time before the formation of a contract. The employer shall not accept or incur any liability to a tenderer for such cancellation and rejection, but will give written reasons for such action upon written request to do so. F.1.5.2 The employer may not subsequent to the cancellation or abandonment of a tender process or the rejection of all responsive tender offers re-issue a tender covering substantially the same scope of work within a period of six months unless only one tender was received and such tender was returned unopened to the tenderer. F.2 Tenderer’s obligations F.2.1 EligibilitySubmit a tender offer only if the tenderer satisfies the criteria stated in the tender data and the tenderer, or any of his principals, is not under any restriction to do business with employer. F.2.2 Cost of tenderingAccept that the employer will not compensate the tenderer for any costs incurred in the preparation and submission of a tender offer, including the costs of any testing necessary to demonstrate that aspects of the offer satisfy requirements. F.2.3 Check documentsCheck the tender documents on receipt for completeness and notify the employer of any discrepancy or omission. F.2.4 Confidentiality and copyright of documentsTreat as confidential all matters arising in connection with the tender. Use and copy the documents issued by the employer only for the purpose of preparing and submitting a tender offer in response to the invitation. F.2.5 Reference documentsObtain, as necessary for submitting a tender offer, copies of the latest versions of standards, specifications, conditions of contract and other publications, which are not attached but which are incorporated into the tender documents by reference. F.2.6 Acknowledge addendaAcknowledge receipt of addenda to the tender documents, which the employer may issue, and if necessary apply for an extension to the closing time stated in the tender data, in order to take the addenda into account. F.2.7 Clarification meetingAttend, where required, a clarification meeting at which tenderers may familiarize themselves with aspects of the proposed work, services or supply and raise questions. Details of the meeting(s) are stated in the tender data. F.2.8 Seek clarificationRequest clarification of the tender documents, if necessary, by notifying the employer at least five working days before the closing time stated in the tender data. F.2.9 InsuranceBe aware that the extent of insurance to be provided by the employer (if any) might not be for the full cover required in terms of the conditions of contract identified in the contract data. The tenderer is advised to seek qualified advice regarding insurance. F.2.10 Pricing the tender offer F.2.10.1 Include in the rates, prices, and the tendered total of the prices (if any) all duties, taxes (except Value Added Tax (VAT), and other levies payable by the successful tenderer, such duties, taxes and levies being those applicable 14 days before the closing time stated in the tender data. F2.10.2 Show VAT payable by the employer separately as an addition to the tendered total of the prices.

  • Safety-sensitive function means a job function or duty where a Covered Employee either:

  • Service and support administrator means a person, regardless of title, employed by or under contract with a county board to perform the functions of service and support administration and who holds the appropriate certification in accordance with rule 5123:2-5-02 of the Administrative Code.

  • Delegated Functions means a function of the Director or the Lord Chancellor delegated to you by an Authorisation;

  • Trustee Functions means the functions set out in paragraph 6;

  • Benchmarker means the person appointed by the PCC to conduct the Benchmark Review.

  • Register Function means the functions with regard to:

  • Multiphase professional services contract means a contract for the providing of professional

  • Non-Administrator Coordinated Home Care Program means a Coordinated Home Care Program which does not have an agreement with the Claim Administrator or a Blue Cross Plan but has been certified as a home health agency in accordance with the guidelines established by Medicare.

  • Expert Advisor means a mechanical online trading system designed to automate trading activities on an electronic trading platform such as the Company’s Trading Platform. It can be programmed to alert the Client of a trading opportunity and can also trade his Trading Account automatically managing all aspects of trading operations from sending orders directly to the Trading Platform to automatically adjusting stop loss, Trailing Stops and take profit levels.

  • Member Services are hereby defined as any products or services now or hereafter provided or sponsored by the Credit Union or otherwise made available to Credit Union members, which services include, but are not limited to: loans, deposit accounts, ATM services, online banking services, and other electronic fund transfer services.

  • Viator means the owner or holder of a policy who has a terminal illness or condition and who enters into a viatical settlement contract.

  • Form, fit, and function data means technical data that describes the required overall physical, functional, and performance characteristics (along with the qualification requirements, if applicable) of an item, component, or process to the extent necessary to permit identification of physically and functionally interchangeable items.

  • Evaluation Team means the team appointed by the City; “Information Meeting” has the meaning set out in section 2.2;

  • Independent Manager Fee is defined in Section 4.01(a) of the LLC Agreement.

  • Benchmark Administrator means, initially, the SOFR Administrator, or any successor administrator of the then-current Benchmark or any insolvency or resolution official with authority over such administrator.

  • Professional employer services means services provided to a client company pursuant to a written

  • District Evaluation Advisory Committee means a group created to oversee and guide the planning and implementation of the Board of Education's evaluation policies and procedures as set forth in N.J.A.C. 6A:10-2.3.