Common use of ACH PROCESSING Clause in Contracts

ACH PROCESSING. CHECK COMMERCE and Merchant have contracted for CHECK COMMERCE to provide Automated Clearing House (“ACH”) services as a Third Party Processor of ACH transactions. These transactions will be placed through a financial institution used by CHECK COMMERCE who will be acting as the Originating Depository Financial Institution (“ODFI”). Merchant shall act as the Originator. CHECK COMMERCE will debit funds (“Debit Entry”) for the purpose of collecting Automatic Payments from the accounts of the Merchant’s customers (“Receivers”) and/or credit funds (“Credit Entry”) for the purpose of paying