Credit Transaction Clause Samples

A Credit Transaction clause defines the terms under which credit is extended from one party to another, typically involving the provision of goods, services, or funds with payment deferred to a later date. This clause outlines the conditions for granting credit, such as credit limits, payment schedules, interest rates, and any collateral requirements. By clearly specifying these terms, the clause helps manage financial risk and ensures both parties understand their obligations, thereby facilitating smooth commercial transactions and reducing the likelihood of disputes over payment.
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Credit Transaction. 15.1 A debit for a purchase and a subsequent credit for cancellation of goods / services are considered to be two separate transactions. You must pay for the purchase transaction as it appears in the Statement to avoid any additional charges being levied. 15.2 On cancellation, the refund will only be credited to the Card Account (less cancellation charges) as and when received by Bank. If the credit is not posted to the Card Account within a period of 30 days, you can notify the bank via the app or email or phone. 15.3 SBM Bank shall seek explicit consent of the cardholder to adjust credit amount beyond a cut-off, one percent of the credit limit or ₹5000, whichever is lower, arising out of refund/failed/reversed transactions or similar transactions against the credit limit for which payment has already been made by the cardholder. The customer will be notified through e- mail or SMS within seven days of the credit transaction. SBM Bank shall reverse the credit transaction to the cardholder’s bank account, if no consent/response is received from the cardholder. Notwithstanding the cut-off, if a cardholder makes a request to the bank for reversal of the credit amount outstanding in the card account into his/her bank account, the bank shall do it within three working days from the receipt of such request.
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Credit Transaction. 15.1 A debit for a purchase and a subsequent credit for cancellation of goods / services are considered to be two separate transactions. You must pay for the purchase transaction as it appears in the Statement to avoid any additional charges being levied. 15.2 On cancellation, the refund will only be credited to the Card Account (less cancellation charges) as and when received by Bank. If the credit is not posted to the Card Account within a period of 30 days, you can notify the bank via the app or email or phone.
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Credit Transaction. (a) Dealer/Contractor will receive the net amount owed to Dealer/Contractor from Bank for each credit transaction involving an account issued under the Program (an “Account”) by Automated Clearing House (“ACH”) direct deposit. The various promotional plans available to those individuals who open accounts under this Agreement (“Accountholders”) and the pricing related thereto is set forth in Schedule A attached hereto. Bank may amend the promotional plan schedule from time to time in Bank’s sole discretion, as set forth therein. Dealer/Contractor may not add or assess any portion of administrative fees, or any other agreement of additional fees or consideration, to an Accountholder who chooses to use an Account as tender for Goods and/or Services. The Program is a non-recourse program for Dealer/Contractor, meaning that, subject to Bank’s chargeback rights set forth herein, Bank will not seek repayment from Dealer/Contractor if the Accountholder fails to repay the credit extended to him/her by Bank. However, if the Goods and/or Services are not properly charged to an Accountholder’s Account, the Goods and/or Services are not performed in full or in part, or the Accountholder is given a refund for the Goods and/or Services after Bank has paid Dealer/Contractor, then upon the request of Bank or the Accountholder, Dealer/Contractor will return the amount of such Bank payment to Bank within ten (10) Business Days. In such instances, the amount to be refunded to Accountholder will be returned to Bank as a credit to the Accountholder’s Account. (b) Each day (not just Business Days), Dealer/Contractor shall electronically transmit all Transaction Records evidencing transactions made under the Program to Bank via the Bank Portal on the same day in a format acceptable to Bank. Dealer/Contractor shall be responsible for properly designating, on the Transaction Records, the Dealer/Contractor location from which individual transactions originate. Subject to Section 2(c) below, Bank shall use commercially reasonable efforts to promptly verify and process such Transaction Records and, within three (3) Business Days thereafter, Bank will remit to Dealer/Contractor an amount equal to the net amount indicated by such Transaction Records for which such remittance is made. Bank will transfer funds via ACH to the Dealer/Contractor Deposit Account indicated in the Registration Agreement. For Transaction Records received by Bank’s processing center before 9 AM Eastern time on a ...
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Credit Transaction. A debit for a purchase and a subsequent credit for cancellation of goods / services are two separate transactions. The Card Member must pay for the purchase transaction as it appears in the Statement to avoid any additional charges being levied. On cancellation the refund will only be credited to the Card Account (less cancellation charges) as and when received by IDBI Bank. However, on successful submission of credit charge slip by the Card Member, the credit shall be posted to the Card Account. If the credit is not posted to the Card Account within a reasonable time, the Card Member must notify IDBI Bank.
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Credit Transaction. A Credit Transaction is the processing of a message from a terminal containing some or all of the data elements relating to a refund for a previous sale that cannot be voided.
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Related to Credit Transaction

  • Portfolio Transactions The Manager is authorized to select the brokers or dealers that will execute the purchases and sales of portfolio securities for the Portfolio and is directed to use its best efforts to obtain the best available prices and most favorable executions, except as prescribed herein. It is understood that the Manager will not be deemed to have acted unlawfully, or to have breached a fiduciary duty to the Fund or to the Portfolio, or be in breach of any obligation owing to the Fund or to the Portfolio under this Agreement, or otherwise, solely by reason of its having caused the Portfolio to pay a member of a securities exchange, a broker, or a dealer a commission for effecting a securities transaction for the Portfolio in excess of the amount of commission another member of an exchange, broker, or dealer would have charged if the Manager determines in good faith that the commission paid was reasonable in relation to the brokerage or research services provided by such member, broker, or dealer, viewed in terms of that particular transaction or the Manager’s overall responsibilities with respect to its accounts, including the Fund, as to which it exercises investment discretion. The Manager will promptly communicate to the officers and directors of the Fund such information relating to transactions for the Portfolio as they may reasonably request.

  • Acquisition Transactions The Company shall provide the holder of this Warrant with at least twenty (20) days’ written notice prior to closing thereof of the terms and conditions of any of the following transactions (to the extent the Company has notice thereof): (i) the sale, lease, exchange, conveyance or other disposition of all or substantially all of the Company’s property or business, or (ii) its merger into or consolidation with any other corporation (other than a wholly-owned subsidiary of the Company), or any transaction (including a merger or other reorganization) or series of related transactions, in which more than 50% of the voting power of the Company is disposed of.

  • Exempt Transaction Subject to the accuracy of the Warrantholder's representations in Section 10 hereof, the issuance of the Preferred Stock upon exercise of this Warrant will constitute a transaction exempt from (i) the registration requirements of Section 5 of the 1933 Act, in reliance upon Section 4(2) thereof, and (ii) the qualification requirements of the applicable state securities laws.

  • Treasury Transactions No Obligor shall (and the Company will procure that no members of the Group will) enter into any Treasury Transaction, other than: (a) any Treasury Transaction documented by a Hedging Agreement provided that such Hedging Agreement is entered into in the ordinary course of business and not for speculative purposes; (b) spot and forward delivery foreign exchange contracts entered into in the ordinary course of business and not for speculative purposes; and (c) any Treasury Transaction entered into for the hedging of actual or projected real exposures arising in the ordinary course of business and not for speculative purposes.

  • Portfolio Transactions and Brokerage (a) The Manager is authorized, in arranging the purchase and sale of the Fund’s publicly-traded portfolio securities, to employ or deal with such members of securities exchanges, brokers or dealers (hereinafter “broker-dealers”), including broker-dealers that are affiliated persons of the Fund or the Manager, as that term is defined in the 1940 Act, as may, in its best judgment, implement the policy of the Fund to obtain the best execution of the Fund’s portfolio transactions. (b) The Manager may effect the purchase and sale of securities in private transactions on such terms and conditions as are customary in such transactions, may use a broker to effect said transactions, and may enter into a contract in which the broker acts either as principal or as agent. (c) The Manager shall select broker-dealers to effect the Fund’s portfolio transactions on the basis of its estimate of their ability to obtain best execution of particular and related portfolio transactions. The abilities of a broker-dealer to obtain best execution of particular portfolio transaction(s) will be judged by the Manager on the basis of all relevant factors and considerations including, insofar as feasible, the execution capabilities required by the transaction or transactions; the ability and willingness of the broker-dealer to facilitate the Fund’s portfolio transactions by participating therein for its own account; the importance to the Fund of speed, efficiency, or confidentiality; the broker-dealer’s apparent familiarity with sources from or to whom particular securities might be purchased or sold; as well as any other matters relevant to the selection of a broker-dealer for particular and related transactions of the Fund. Subject to such policies as the Trustees may determine, the Manager shall not be deemed to have acted unlawfully or to have breached any duty created by this Management Agreement or otherwise solely by reason of its having caused the Fund to pay a broker or dealer that provides brokerage and research services to the Manager an amount of commission for effecting a portfolio investment transaction in excess of the amount of commission another broker or dealer would have charged for effecting that transaction, if the Manager determines in good faith that such amount of commission was reasonable in relation to the value of the brokerage and research services provided by such broker or dealer, viewed in terms of either that particular transaction or the Manager’s overall responsibilities with respect to the Fund and to other clients of the Manager as to which the Manager exercises investment discretion. (d) In any case where a Subadviser has been retained in respect of some or all of the assets of the Fund as contemplated by Section 9 below, the Manager shall report periodically to the Board of Trustees as to the brokerage activities of the Subadviser in respect of the Fund, at such times and in such format as the Board of Trustees may reasonably specify.