Deposit Process Sample Clauses

The Deposit Process clause outlines the procedures and requirements for handling deposits in a contractual arrangement. It typically specifies the amount to be paid, the timing of the payment, and the method by which the deposit should be delivered, such as via bank transfer or check. This clause may also address what happens to the deposit in various scenarios, such as cancellation or breach of contract. Its core function is to ensure both parties understand the expectations and obligations regarding the deposit, thereby reducing the risk of disputes and providing financial security for the transaction.
Deposit Process. A cash transmittal report should be prepared listing the cash and checks received with any back up documentation and the canary copies from the receipt book along with a calculator tape of the total of the checks being deposited. All checks should be rechecked for restrictive endorsement. Cash, checks and the cash transmittal report should be taken to the cashier’s window the same date as the receipts for deposit into the departments’ university Banner FOAP. In the event that it is impracticable to make the deposit at the cashier’s window the same date as the sale, the deposit should be made on the next business day. The cash, checks and back up documentation should be locked up securely for safekeeping in preferably a combination safe. The cash transmittal report may be accessed at the Treasurer’s Office website ▇▇▇▇://▇▇▇▇.▇▇▇▇▇▇.▇▇▇/dotAsset/153439.pdf .
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Deposit Process. You may submit only (1) check image at a time for deposit and the check image must be accompanied by all requested deposit information that matches the information on the check image. Check images must be properly payable to you, contain the drawer’s signature, and be properly endorsed by you. You agree you will only deposit checks you possess as a holder in due course. You shall review checks to detect altered or counterfeit items and shall not deposit suspicious checks via Mobile Deposit. You shall provide suspicious checks, in person, to PSB for inspection. You agree to follow any and all other procedures and instructions for use of Mobile Deposit that PSB may implement. If you do not, PSB will have the right to put a hold on and/or reject the non‐conforming check.
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Deposit Process 
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Related to Deposit Process

  • Payment Process Subject to the terms and conditions established by the Agreement, the pricing per deliverable established by the Grant Work Plan, and the billing procedures established by Department, Department agrees to pay Grantee for services rendered in accordance with Section 215.422, Florida Statutes (F.S.).

  • Disbursement Procedure Subject to compliance by the Contracting Party with all the terms, provisions and conditions of this Agreement, including, but not limited to, the conditions precedent set forth within Sections 3, 4 and 5 hereof, the Board will cause its Depository to disburse sums to the Contracting Party, or to the appropriate payee, for the purpose of paying Costs of Construction items specified in the Approved Budget, in accordance with the following procedures:

  • Payment Processing Citizens may require any other information from Vendor that Citizens deems necessary to verify any compensation request placed under this Agreement and Vendor agrees that it will provide such information as reasonably requested by Citizens. Payment shall be due net thirty (30) calendar days of Citizens’ actual receipt of a complete and undisputed invoice. Where a submitted invoice is incomplete, such as not containing the information described in this Section, Citizens will return the incomplete invoice to Vendor for correction within thirty (30) calendar days of Citizens’ actual receipt of such invoice. Where Citizens reasonably disputes any part of a complete invoice, such as the amount of the compensation request, Citizens shall pay any undisputed portion of the invoiced amount within (30) calendar days of Citizens’ actual receipt of the complete invoice and will describe the basis for the disputed portion of the invoiced amount. Where Vendor disagrees with Citizens dispute of any invoice, the Parties shall seek to resolve the dispute in accordance with the Dispute Resolution Process further described in this Agreement. In no case shall Citizens be subject to late payment interest charges where Vendor has submitted an incomplete invoice or where Citizens has reasonably disputed an invoice. Where Vendor fails to submit an invoice within twelve (12) calendar months of the Services for which compensation is being requested, Vendor acknowledges and agrees that any payment due for such Services is forfeited by Vendor for its failure to timely submit an invoice.

  • Disbursement Procedures The Issuing Bank shall, promptly following its receipt thereof, examine all documents purporting to represent a demand for payment under a Letter of Credit. The Issuing Bank shall promptly notify the Administrative Agent and the Borrower by telephone (confirmed by telecopy) of such demand for payment and whether the Issuing Bank has made or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving such notice shall not relieve the Borrower of its obligation to reimburse the Issuing Bank and the Lenders with respect to any such LC Disbursement.

  • Good Faith Deposit Borrower has paid to Bank a deposit of Twenty Thousand Dollars ($20,000) (the “Good Faith Deposit”) to initiate Bank’s due diligence review process. Any portion of the Good Faith Deposit not utilized to pay Bank Expenses will be applied to the Facility Fee.