Effective Entry Date For Entries Clause Samples

The 'Effective Entry Date For Entries' clause establishes the specific date on which certain entries, such as financial transactions or contractual obligations, become valid and enforceable. In practice, this clause clarifies when an entry is officially recognized, which may differ from the date the entry was created or submitted; for example, a payment instruction might be processed on a later effective date as specified in the agreement. By defining the effective entry date, this clause ensures all parties have a clear understanding of when rights and responsibilities commence, thereby reducing confusion and potential disputes over timing.
Effective Entry Date For Entries. The Effective Entry Date for an Entry is the date Merchant intends the Debit or Credit to post to the account of the Customer, as stated in the Entry or File of Entries. The Effective Entry Date for an Entry may be converted to a Settlement Date by the ACH Operator if the Effective Entry Date is the same day or prior to the transmission date, or if the Effective Entry Date falls on a Saturday, Sunday, or holiday on which the ACH Operator is closed.
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