Execution of payments Sample Clauses

Execution of payments the objective of this function is the issuing of an instruction to the Operating Structure's bankers, or, in appropriate cases, a governmental payments office, to pay the authorised amount to the claimant (or their assignee(s)).

Execution of payments. Payments to Parties are the exclusive tasks of the Coordinator. In particular, the Coordinator shall: - notify the Party concerned promptly of the date and composition of the amount transferred to its bank account, giving the relevant references - perform diligently its tasks in the proper administration of any funds and in maintaining financial accounts - undertake to keep the Community financial contribution to the Project separated from its normal business accounts, except if the Coordinator is a Public Body or is not entitled to do so due to statutory legislation.

Execution of payments. 4.2.1. The Transaction is considered authorised only when the Client (Payer) provides a consent. The consent must be confirmed by using Security Credentials. The Client does not have right to challenge the Transaction executed by the Company if payment order has been approved by the consent provided in the manner set out in this clause. 4.2.2. The consent of the Client (Payer) has to be given before the execution of the Transaction. 4.2.3. The Transactions are performed following the Client’s payment order, which is provided via Users Portal or Payment Instruments provided by the Company. 4.2.4. Consent to execute one or several Transactions may also be given via the Payee or the payment initiation service provider. 4.2.5. The Company undertakes to ensure proper execution of payments following terms and conditions agreed herein and legal act requirements. 4.2.6. The Company shall execute the payment order if: 4.2.6.1. payment order contains sufficient information required by the Company; and 4.2.6.2. payment order is authorized by the Client; and 4.2.6.3. E-Money Account has sufficient and unrestricted Balance in the currency of the payment order (except cases when Transaction is executed from the credit line funds provided under separate agreement). 4.2.7. Once the Company receives the payment order, the payment order becomes irrevocable. Save for the below mentioned rules for cancellation of payment order: 4.2.7.1. the payment order cannot be cancelled after the reception of it by the Company, except in cases provided for in these T&C; 4.2.7.2. the payment order initiated by the Payee or via the Payee cannot be cancelled after the payment order has been sent, or in case the Payer has given the consent to the Payee to perform the Transaction; 4.2.7.3. in case the payment order was given in accordance to clause 4.2.10 of these T&C, it may be cancelled without additional charges one Business Day before the agreed day, until the end of a Business Day of the Company. 4.2.8. When a payment order to transfer money to the payment account of another payment service provider is received, the Company performs the Transaction in accordance to the Unique Identifier provided in the payment order. The Company is not responsible if the Unique Identifier is not provided in the payment order or is incorrect, and/or the Payee’s payment service provider has set a different Unique Identifier for appropriate execution of such Transaction (crediting of money to the Payee’s pay...

Execution of payments. 2.1. By entering into the Agreement, the Payer instructs the Bank to make Payments form the Account with the determined regularity on behalf of the Payer in accordance with the terms and conditions of the Agreement. The Payments are deemed as authorised by the Payer with the entry into the Agreement. 2.2. The Bank executes the payment on the Payment Date according to the Agreement and the Settlement Agreement. 2.3. If the payment date falls on a date that is not a settlement date, the settlement date is deemed to have arrived on the subsequent settlement date. 2.4. The Payer ensures that there are sufficient funds on the account for the execution of the Payment and payment of the service fee of the Bank during the entire Payment Date, and the Payer also ensures that there are no restrictions on the Account that prevent the execution of the payment (e.g. seizure). The Bank does not verify the existence of funds in the other accounts of the Payer. 2.5. If the funds available on the Account on the Payment Date are not sufficient for the execution of the Payment and payment of the service fee of the Bank or if restrictions have been established on the Account that prevent the execution of the Payment (e.g. seizure), the Bank will leave the entire payment unexecuted. 2.6. If the Payer has given the Bank several standing orders with the same Payment Date to the Bank in respect of the same Account, the Bank will determine the order in which the Payments will be made. 2.7. The Payer has the right to request that the Bank not execute a Payment by submitting the relevant instruction to the Bank either at a branch of the Bank or in the Internet Bank not later than on the settlement date preceding the Payment Date. 2.8. The Payer can get information about payments from the account statement in the Internet Bank or from a branch of the Bank. 2.9. The Payer pays the Bank a service fee for the execution of a Payment according to the price list of the Bank and the Settlement Agreement.

Execution of payments. (1) The Client’s payments relating to transactions in the SKD in the owner account which, according to parts four and five of the Rules, the SKD executes by a third party instruction to the CERTIS system, will be effected from his agent’s payment account. (2) Payments to the Client relating to transaction in the SKD in the owner account, which according to parts four and five of the Rules the SKD executes by a third party instruction to the CERTIS system, will be credited to the Client’s cash account specified in Article 5 paragraph (1) of this Contract.