Our Execution of Your Payment Orders Sample Clauses
This clause outlines the procedures and responsibilities involved when the service provider processes payment orders on behalf of the customer. It typically details how payment instructions must be submitted, the conditions under which they will be executed, and any timeframes or cut-off times that apply. For example, it may specify that only properly authorized and complete payment orders will be processed, and that certain orders received after a specific time will be executed the next business day. The core function of this clause is to set clear expectations for both parties regarding the handling and timing of payment transactions, thereby reducing misunderstandings and ensuring efficient processing.
Our Execution of Your Payment Orders. Subject to the terms of this Agreement (and your compliance with the same), you agree that we will execute a Payment Order made byyou via your Payment Account and credit the payment service provider of the person to whom you are sending your payment to, within 1 Business Dayfollowing the date you gave us, and we received your valid Payment Order, subject to you providing us with:
a. your Payment Order before 4pm (local time of the countrywhere your Account is registered) on a Business Day. If you provide us with your Payment Order after this time or not on a Business Day, you agree that your Payment Order was received ▇▇▇▇ on the following Business Day;
b. a correct Unique Identifier or other valid details of the recipient or you as PayPal or the person you are paying mayreasonably request from you when you complete the details to make the Payment Order;
c. all mandatoryinformation requested in the relevant payment or checkout flows;
d. (if required), details of your valid Funding Source(s) that have sufficient funds to make the payment; and
e. valid consent to authorise your Payment Order, such valid consent is provided when you:
1. click the “Pay” or “Continue” or other button in the sections of the PayPal website(s) or PayPal checkouts which permit you to send us a Payment Order after you have submitted your correct log-in information (e.g. e-mail and password) and successfullylogged into your PayPal Account; and/or
2. have set up a third partyinitiated payment Authorisation in which you have agreed with a merchant or other third partyto provide an advance Authorisation to allow that merchant or third partyto collect or otherwise direct payment of funds from your PayPal Account; and/or
3. instruct us to make a payment in anyother waywhich we maynotifyyou when making the Payment Order from time to time. Our obligation to execute payment orders within 1 Business Dayfollowing the date you gave us your valid Payment Order onlyapplies to payments executed: between Users with registered Accounts in the European Economic Area (“EEA”); and in the currencyof Pounds Sterling, Euro or the currencyof the EEAState that has not adopted Euro as its currency. Once your Payment Order has been provided to us, you maynot revoke it or otherwise withdraw your consent to the execution of the payment transaction, with the exception that you are able to cancel a Recurring Payment provided that you do so before the end of the Business Daywhich falls on the daybefore the next re...
Our Execution of Your Payment Orders. Subject to the terms of this Agreement (and your compliance with the same), you agree that we will execute a Payment Order made by you via your Payment Account and credit the payment service provider of the person to whom you are sending your payment to, within 1 Business Day following the date you gave us, and we received your valid Payment Order, subject to you providing us with:
a. your Payment Order before 4pm (local time of the country where your Account is registered) on a Business Day. If you provide us with your Payment Order after this time or not on a Business Day, you agree that your Payment Order was received by us on the following Business Day;
b. a correct Unique Identifier or other valid details of the recipient or you as PayPal or the person you are paying may reasonably request from you when you complete the details to make the Payment Order;