ACH Payment Service Clause Samples

The ACH Payment Service clause establishes the terms under which payments are processed electronically through the Automated Clearing House (ACH) network. It typically outlines the responsibilities of both parties regarding the initiation, authorization, and timing of ACH transfers, and may specify requirements for providing bank account information or handling failed transactions. This clause ensures a clear, standardized process for electronic payments, reducing administrative burdens and minimizing payment delays or disputes.
ACH Payment Service. ‌ You must obtain all authorizations required under applicable law and the ACH Rules to make ACH Payments. We may also ask you to obtain authorizations. You must give us copies of authorizations if we ask for them. You must give us all the information we need to complete your ACH Payment. You must tell us if the Payee is a vendor or Employee. The information must be correct. When you send us Instructions, you authorize us to complete your Instructions. You authorize us to electronically debit the Pay From account listed in your Instructions. You may only send ACH Payments to Payees in the United States with accounts at ACH member banks. You authorize us to update your Payee's information if your Payee asks us to. You must only make Employee payments to Employees with Employee payment entitlements. You must give us an Employee's voided check or deposit slip for the Employee's checking account if we ask for it. The Online Service should not be your permanent record for accounting, tax or any other purpose. You must only make vendor payments to Payees with vendor payment entitlements. We may limit the amount of money you can send in one (1) ACH Payment or in one (1) day. You may not send more than $100,000.00 per Same-Day ACH transaction. We may establish lower transaction limits for you and may block any attempted Same-Day ACH transaction that exceed(s) the limit(s). We may adjust the limits at any time in our sole discretion with notice to you. We must receive your Instructions before the Cut Off Time to send it on the same Business Day. The Cutoff Time for making a Standard ACH Payment is 8:00 PM Eastern Time. Same-Day ACH Payments must be authorized before the stated Cut Off Time. Payments not authorized by the stated Cut Off Time for the day will be scheduled for the next available Same-Day ACH Payment delivery, which may be the next business day, unless cancelled by the user. This may result in the transaction settling the next day and these transactions may be charged a Same-Day delivery fee. Same-Day ACH Payments not authorized before the stated Cut Off Time will expire after 48 hours. If we receive your Instructions after the Cut Off Time, we may still debit your account that day. We will debit your Pay From account based on the Deliver By you choose. Approved Instructions received by us before the Cut Off Time your Instruction Calendar day you send Approved Instructions (other than Repeating ACH Payments or Employee payments) received by us after Fo...
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ACH Payment Service. 4.5.1. Obligations 4.5.1.1. Company represents and warrants that (1) any of its and its Suppliers’ bank accounts selected for the ACH Payment Service will have been established in the United States primarily for business purposes and not for personal, family or household purposes, (2) it will provide complete and accurate information regarding its and its Suppliers’ bank accounts and ACH Payments (including ACH Instructions), including, but not limited to, Supplier authorizations required under the Nacha Rules to initiate such ACH Payments to Suppliers, (3) it will execute and maintain a written agreement with each Supplier authorizing Company in accordance with the Nacha Rules to initiate credit ACH Payments to Receiver’s designated bank account, (4) any such written agreement and authorization have not been terminated or revoked on the date any ACH Instructions are submitted by Company to American Express to initiate an ACH Payment to the relevant Supplier, and (5) Company will 4.5.1.2. Company hereby agrees that the ACH Payment Service will be used exclusively by Company, for payments owed by Company to Supplier, and not for payments by third parties to such Supplier.
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ACH Payment Service. 4.5.1. Obligations 4.5.1.1. Company represents and warrants that (1) any of its and its Suppliers’ bank accounts selected for the ACH Payment Service will have been established in the United States primarily for business purposes and not for personal, family or household purposes, (2) it will provide complete and accurate information regarding its and its Suppliers’ bank accounts and ACH Payments (including ACH Instructions), including, but not limited to, Supplier authorizations required under the Nacha Rules to initiate such ACH Payments to Suppliers, (3) it will execute and maintain a written agreement with each Supplier authorizing Company in accordance with the Nacha Rules, to initiate credit ACH Payments to Receiver’s designated bank account, (4) any such written agreement and authorization have not been terminated or revoked on the date any ACH Instructions are submitted by Company to American Express to initiate an ACH Payment to the relevant Supplier, and (5) Company will immediately take the necessary action to cause the Portal to reflect (i) any change to Supplier’s bank account or RDFI information or (ii) notice if a Supplier revokes its authorization to receive ACH Payments from Company or otherwise terminates its written agreement with Company. Company acknowledges and agrees American Express assumes no liability for any communication to Suppliers on Company’s behalf or at the direction of Company. 4.5.1.2. Company hereby agrees that the ACH Payment Service will be used exclusively by Company, for payments owed by Company to its Suppliers, and not for payments by third parties to any such Suppliers.
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Related to ACH Payment Service

  • Payment Services The Application allows the User to access some or all of the following Payment Services (depending on the services that the Partner has integrated). ● The opening of a Payment Account; ● Carrying out the following operations: o Withdrawal o Transfers (in/out) o Direct debits (in / out) o Payment transactions through a Card; ● Issuing of a Card, associated with the Payment Account; ● Card acquiring

  • Outplacement Services The Executive shall receive reasonable outplacement services, on an in-kind basis, suitable to his position and directly related to the Executive’s Involuntary Termination, for a period of eighteen (18) months following the date of the Involuntary Termination, in an aggregate amount of cost to the Company not to exceed $50,000. Notwithstanding the foregoing, the Executive shall cease to receive outplacement services on the date the Executive accepts employment with a subsequent employer. Such outplacement services shall be provided in a manner that complies with Treasury Regulation Section 1.409A-1(b)(9)(v)(A).

  • Investment Services The Sub-Adviser will formulate and implement a continuous investment program for the Fund conforming to the investment objective, investment policies and restrictions of the Fund as set forth in the Prospectus and Statement of Additional Information of the Company as in effect from time to time (together, the "Registration Statement"), the Articles of Incorporation and By-laws of the Company, and any investment guidelines or other instructions received by the Sub-Adviser in writing from the Investment Manager from time to time. Any amendments to the foregoing documents will not be deemed effective with respect to the Sub-Adviser until the Sub-Adviser's receipt thereof. The appropriate officers and employees of the Sub-Adviser will be available to consult with the Investment Manager, the Company and the Directors at reasonable times and upon reasonable notice concerning the business of the Company, including valuations of securities which are not registered for public sale, not traded on any securities market or otherwise may be deemed illiquid for purposes of the ICA; provided it is understood that the Sub-Adviser is not responsible for daily pricing of the Fund's assets. Subject to the supervision and control of the Investment Manager, which in turn is subject to the supervision and control of the Directors, the Sub-Adviser in its discretion will determine which issuers and securities will be purchased, held, sold or exchanged by the Fund or otherwise represented in the Fund's investment portfolio from time to time and, subject to the provisions of paragraph 3 of this Agreement, will place orders with and give instructions to brokers, dealers and others for all such transactions and cause such transactions to be executed. Custody of the Fund will be maintained by a custodian bank (the "Custodian") and the Investment Manager will authorize the Custodian to honor orders and instructions by employees of the Sub-Adviser designated by the Sub-Adviser to settle transactions in respect of the Fund. No assets may be withdrawn from the Fund other than for settlement of transactions on behalf of the Fund except upon the written authorization of appropriate officers of the Company who shall have been certified as such by proper authorities of the Company prior to the withdrawal. The Sub-Adviser will not be responsible for the provision of administrative, bookkeeping or accounting services to the Fund except as specifically provided herein, as required by the ICA or the Advisers Act or as may be necessary for the Sub-Adviser to supply to the Investment Manager, the Fund or the Fund's shareholders the information required to be provided by the Sub-Adviser hereunder. Any records maintained hereunder shall be the property of the Fund and surrendered promptly upon request. In furnishing the services under this Agreement, the Sub-Adviser will comply with and use its best efforts to enable the Fund to conform to the requirements of: (i) the ICA and the regulations promulgated thereunder; (ii) Subchapter M of the Internal Revenue Code and the regulations promulgated thereunder; (iii) other applicable provisions of state or federal law; (iv) the Articles of Incorporation and By-laws of the Company; (v) policies and determinations of the Company and the Investment Manager provided to the Sub-Adviser in writing; (vi) the fundamental and non-fundamental investment policies and restrictions applicable to the Fund, as set out in the Registration Statement of the Company in effect, or as such investment policies and restrictions from time to time may be amended by the Fund's shareholders or the Directors and communicated to the Sub-Adviser in writing; (vii) the Registration Statement; and (viii) investment guidelines or other instructions received in writing from the Investment Manager. Notwithstanding the foregoing, the Sub-Adviser shall have no responsibility to monitor compliance with limitations or restrictions for which information from the Investment Manager or its authorized agents is required to enable the Sub-Adviser to monitor compliance with such limitations or restrictions unless such information is provided to the Sub-adviser in writing. The Sub-Adviser shall supervise and monitor the activities of its representatives, personnel and agents in connection with the investment program of the Fund. Nothing in this Agreement shall be implied to prevent the Investment Manager from engaging other sub-advisers to provide investment advice and other services to the Fund or to series or portfolios of the Company for which the Sub-Adviser does not provide such services, or to prevent the Investment Manager from providing such services itself in relation to the Fund or such other series or portfolios. The Sub-Adviser shall be responsible for the preparation and filing of Schedule 13-G and Form 13-F on behalf of the Fund. The Sub-Adviser shall not be responsible for the preparation or filing of any other reports required of the Fund by any governmental or regulatory agency, except as expressly agreed in writing.

  • Fire Department Service Charge We will pay up to $500 for your liability assumed by contract or agreement for fire department charges incurred when the fire department is called to save or protect covered property from a Peril Insured Against. We do not cover fire department service charges if the property is located within the limits of the city, municipality or protection district furnishing the fire department response. This coverage is additional insurance. No deductible applies to this coverage.

  • GOVERNMENT SERVICE 1. a) Salaries, wages and other similar remuneration, other than a pension, paid by a Contracting State or a political subdivision or a local authority thereof to an individual in respect of services rendered to that State or subdivision or authority shall be taxable only in that State.