Funds Transfer Requests Clause Samples
The 'Funds Transfer Requests' clause defines the procedures and requirements for initiating and processing requests to transfer funds between accounts or parties. Typically, this clause outlines the necessary information that must be provided with each request, such as account details, authorization protocols, and any applicable deadlines or restrictions. By establishing clear guidelines for how funds transfer requests are to be made and handled, this clause helps prevent errors, unauthorized transactions, and disputes, ensuring secure and efficient movement of funds.
Funds Transfer Requests. The Customer may submit requests for funds transfer or payment orders (“Requests”) to India in accordance with the terms and conditions of this Agreement, and SBIC will execute Requests received by SBIC in the Customer’s name. The Customer must first register the beneficiary to whom the Customer wish to make a Request via the Services by providing correct and complete information about the beneficiary; it is also important that the Customer ensure the accuracy of the beneficiary’s account number and that the correct account number inputted by the Customer. Once the Customer’s registration of the beneficiary is received by SBIC, the approval of beneficiary may take two business days at this end. Once the beneficiary is approved by SBIC, the Services will allow the Customer to transfer funds to India. If for any reason including compliance to Regulatory instructions, SBIC are unable to approve any beneficiary, the same shall be rejected and the Customer may peruse the status on the Services. In case of further clarification, the Customer agrees to contact the Customer’s branch of account. Unless otherwise specifically agreed in writing, the Customer must use the Services to deliver Requests to SBIC; SBIC are not obligated to execute Requests received otherwise from the Customer (whether by written, oral, telephonic, telegraphic or other communication of the payment order). Funds must be available in accordance with the funds availability policy in the account specified in the Request at the time the Request is received. SBIC may choose the funds transfer mechanism (for example correspondent bank transfer, swift, State Bank of India’s payment system, internal transfer, letter) to be used when acting upon the Customer’s Request. A Request is deemed received by SBIC only when actually received by SBIC, in the form and content specified by SBIC.
Funds Transfer Requests. Customer may submit funds transfer payment orders ("Requests") in accordance with the terms and conditions of this Agreement. Subject to the terms of this Agreement, and unless otherwise specifically agreed in writing, Bank may, in its sole discretion, refuse to execute Requests received in the name of Customer unless such Requests are written and are delivered to Bank in person or via telephone or facsimile transmittal. Bank may charge the account specified in the Request, or any other account of Customer, for the amount of the Request and for all fees and charges, or other amounts due by Customer to Bank under this Agreement, and Customer must maintain available funds to cover all of the foregoing. Bank may choose the funds transfer mechanism (for example, Fedwire, GFX, correspondent bank transfer) to be used when acting upon a customer's Request. Bank will forward all information required by law, i.e., name, address, and account number. If there are multiple Requests, or if there are both Requests and other instructions from Customer to Bank that would result in transfers from or credits from an account (for example, preauthorized transfers, checks or other negotiable instruments, or other instructions), then Bank may pay or honor all such Requests or instructions in any order determined by Bank at its sole discretion and notwithstanding that the order of payment chosen by Bank may result in harm to Customer that could have been avoided or mitigated if some other order of payment were used; Bank will have no liability for any failure to pay any particular Request or honor any particular instruction in advance of any other notwithstanding knowledge by Bank of any prior pattern or other information available to Bank from Customer or Customer’s prior transactions.
Funds Transfer Requests. The member will be bound by any funds transfer request, whether authorized, issued in its name and accepted by the Credit Union in compliance with the designated security procedure.
Funds Transfer Requests. Youmay submit Wire Transfer Requests in accordance with the terms and conditions of this Schedule B to this CMTS Agreement, and the Bank will execute Wire Transfer Requests received by the Bank inyour name. Unless otherwise specifically agreed in writing, you must use the Bank’s System to deliver Wire Transfer Requests to the Bank; the Bank is not obligated to execute Wire Transfer Requests received otherwise from you (whether by written, oral, telephonic, telegraphic or other communication of the payment order). Funds must be available in accordance with the Bank’s funds availability policy in the Account specified in the Wire Transfer Request at the time the Wire Transfer Request is received. The Bank may choose the funds transfer mechanism (for example, Fedwire, correspondent bank transfer, internal transfer,letter) to be used when acting upon your Wire Transfer Request. A Wire Transfer Request is deemed received by the Bank only when actually received by the Bank, in the form and content specified by the Bank.
Funds Transfer Requests. You may cancel or amend a funds transfer request only if we receive the request prior to having executed the transfer and at a time that provides us with a reasonable opportunity to act upon that request. In general, after we have sent the transfer, you will not be able to cancel or amend it unless the beneficiary bank consents to such a request. We and/or the beneficiary bank may impose a fee in connection with the return of that transfer and for any required currency conversion. We will not be liable to you for any loss resulting from the failure of the beneficiary bank to agree to a recall or amendment of your funds transfer request.
Funds Transfer Requests. Company may submit funds transfer payment orders ("Requests") in accordance with the terms and conditions of this Agreement, together with any supplemental agreements based on the products you requested, subject to security procedures, Bank will execute funds transfers in accordance with Requests received from Company or in Company's name. Funds must be available in the account specified in the Request at the time the request is made. Bank may choose the funds transfer mechanism (for example, Fedwire, correspondent bank transfer, internal transfer, letter) to be used when acting upon a Company's Request.