Payment Authorization and Remittance Sample Clauses

The Payment Authorization and Remittance clause establishes the procedures and permissions for one party to make payments to another under the agreement. It typically outlines how payments are to be authorized, the acceptable methods of remittance (such as wire transfer or check), and any requirements for documentation or approval prior to payment. This clause ensures that both parties understand the process for transferring funds, reducing the risk of unauthorized payments and providing a clear framework for financial transactions within the contract.
Payment Authorization and Remittance. By using the Bill Payment Service, you authorize the Bank or its Bill Payment Service Provider to follow the Payment Instructions that it receives through the Bill Payment System. In order to process bill payments more efficiently and effectively, bill payment related data or data formats may be edited or altered in accordance with ▇▇▇▇▇▇ directives. When a Bill Payment Instruction is received by the Bank or its Bill Payment Service Provider, you authorize the Bank or its Bill Payment Service Provider to debit your Payment Account and remit funds on your behalf so that the funds arrive as close as reasonably possible to the Scheduled Payment Date designated by you. You also authorize the Bank or its Bill Payment Service Provider to credit your Payment Account for payments returned by the ▇▇▇▇▇▇. The Bank will use reasonable efforts to make (or cause its Bill Payment Service Provider to make) all your payments properly. However, neither the Bank nor its Bill Payment Service Provider shall incur any liability and any Bill Payment Service Guarantee shall be void if the Bank or its Bill Payment Service Provider is unable to complete any payments initiated by you because of the existence of any one or more of the following circumstances: i. If, through no fault of the Bank or its Bill Payment Service Provider, your Payment Account does not contain sufficient funds to complete the transaction or the transaction would exceed the credit limit of your overdraft account; ii. The Bank's Bill Payment Service and/or its Bill Payment Service Provider's payment processing center is not working properly and you know or have been advised about the malfunction before you execute the transaction; iii. You have not provided the correct Payment Account information, or the correct name, address, phone number, or account information for the ▇▇▇▇▇▇; and/or iv. Circumstances beyond the control of the Bank and/or its Bill Payment Service Provider (such as, but not limited to, fire, flood, or interference from an outside force) prevent the proper execution of the transaction and the Bank or its Bill Payment Service Provider have taken reasonable precautions to avoid those circumstances. Provided that none of the foregoing exceptions and none of the exceptions set forth elsewhere in this Agreement (e.g., see Section 5 above) or in any of your other Account Agreements is applicable, if the Bank or its Bill Payment Service Provider causes an incorrect amount of funds to be removed from...
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Payment Authorization and Remittance. By providing us with names and mobile phone numbers and/or email addresses of recipients to whom you wish to direct payments, you authorize us to follow the P2P Payment Instructions that we receive through P2P. You also authorize us to debit your Eligible Transaction Account(s) and transfer funds on your behalf, as well as credit your Eligible Transaction Account(s) for payments received through P2P.
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Payment Authorization and Remittance. By providing Bank and its bill pay service provider with names and account information of Payees to whom you wish to direct payments, you authorize Bank and its bill pay service provider to follow the Payment Instructions that it receives through the payment system. In order to process your payments, Bank or its bill pay service provider may edit or alter payment data or data formats in accordance with Payee directives.
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Payment Authorization and Remittance a. By providing Us with names and mobile phone numbers and/or electronic mail (e-mail) addresses of P2P payment recipients, You authorize Us to follow the P2P payment instructions that We receive through the Service. b. When We receive a P2P payment instruction from You, You authorize Us to debit Your account and remit funds on Your behalf. You also authorize Us to credit Your account for the receipt of payments returned to Us because the processing of your P2P instructions could not be completed. c. We will use reasonable efforts to complete all P2P payment instructions as directed; however, We shall incur no liability if We are unable to complete any payment instruction due to the existence of any one or more of the following circumstances: i. If, through no fault of Ours, Your account does not contain sufficient funds to complete the P2P payment instruction, or the P2P payment instruction would exceed the credit limit of your overdraft protection account. ii. The Service is not working properly, and You know, or have been advised by Us, about the malfunction before You execute the P2P payment instruction. iii. The payment is refused or returned by the recipient or recipient’s financial institution. iv. You have not provided the correct information, including, but not limited to, P2P instructions, account information, or the name, mobile phone number, or e-mail address of the recipient. v. Circumstances beyond Our control, such as, but not limited to, natural disasters like a flood, tornado, fire, etc., network or system down time, or interference from an outside force which prevent the proper execution of the P2P payment instruction. d. It is Your responsibility to ensure the accuracy of any and all information input into the Site to Us to carry out the P2P payment instructions including, but not limited to, the name, mobile phone number and/or e-mail address of the recipient. You are responsible for informing Us immediately if You or the recipient becomes aware that the P2P payment instructions sent were incorrect in any way. We will make a reasonable effort to stop or recover a payment made based on an error contained within You P2P payment instructions; however, We do not guarantee such stoppage or recovery and will incur no liability or loss for damages resulting from such incorrect information. e. You agree that Your authorization provided on the Site is conclusive evidence that, with regard to each P2P payment instruction initiated, You authorize ...
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Payment Authorization and Remittance. By providing us with names and account information of a person or entity to which you wish to direct a bill payment (“Payee”), you authorize us to use the information provided by you to send a payment and to debit your Account and remit funds on your behalf. In order to process payments more efficiently and effectively, we may alter or edit payment data or data formats in accordance with Payee directives. We will use our best efforts to make all your payments properly. However, we will incur no liability if we are unable to complete any payment because of the following circumstances:
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Payment Authorization and Remittance. By providing the Service with names and account information of Billers to whom you wish to direct payments, you authorize the Service to follow the Payment Instructions that it receives through the payment system. In order to process payments more efficiently and effectively, the Service may edit or alter payment data or data formats in accordance with ▇▇▇▇▇▇ directives. 1. If, through no fault of the Service, your Payment Account does not contain sufficient funds to complete the transaction or the transaction would exceed the credit limit of your overdraft account; 2. The payment processing center is not working properly and you know or have been advised by the Service about the malfunction before you execute the transaction; 3. You have not provided the Service with the correct Payment Account information, or the correct name, address, phone number, or account information for the ▇▇▇▇▇▇; and/or, 4. Circumstances beyond control of the Service (such as, but not limited to, fire, flood, or interference from an outside force) prevent the proper execution of the transaction and the Service has taken reasonable precautions to avoid those circumstances. Provided none of the foregoing exceptions are applicable, if the Service causes an incorrect amount of funds to be removed from your Payment Account or causes funds from your Payment Account to be directed to a ▇▇▇▇▇▇ which does not comply with your Payment Instructions, the Service shall be responsible for returning the improperly transferred funds to your Payment Account, and for directing to the proper ▇▇▇▇▇▇ any previously misdirected transactions, and, if applicable, for any late payment related charges.
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Payment Authorization and Remittance. You represent and warrant to Members 1st that you own the account and/or have full right and authority to all the money in the account with us from which you initiate a money transfer or are accepting a money transfer. By providing us with payment instructions, i.e., the names, telephone numbers, email addresses and account information, to send money to your other account or to another person, you authorize us to act as your agent to execute the money transfer and charge your account(s) for: (1) any Transfer Money request you initiate from your Members 1st account to your account at another U.S. financial institution; and (2) any Send Money request to a person when your transfer request(s) are made in accordance with the procedures established by Members 1st. Your authorization that remains in effect regardless of whether the Transfer Money and Send Money payment request(s) are completed, and your money request(s) are subject to any related fee, applicable dollar transfer limits, and time delays as set forth herein. Additionally, you authorize Members 1st to credit your account for the receipt of payments. The receipt of payments includes, but is not limited to, payments returned from persons to whom you sent payment(s) or payments cancelled and returned because the processing of your payment instruction could not be completed. This authorization remains in full force and effect until such time that you cancel your transaction in online banking or, alternatively, notify us of your intention to revoke your authorization by contacting Customer Service at (▇▇▇) ▇▇▇-▇▇▇▇ and we have a reasonable opportunity to act on it. We and/or our Service Provider will process your request for a money transfer based on the information you provide. Any errors in the transaction information (including, but not limited to, incorrect or inconsistent account names, account numbers, ABA routing numbers, mobile phone numbers, or email addresses) that you provide to us are your responsibility. We and our Service Provider are not required to investigate discrepancies in transaction information and neither Members 1st nor our Service Provider will be, in any way, held responsible for any discrepancies resulting from a mistake made when entering the transaction information. You may not be able to cancel or revoke a transfer once it has been submitted or approved. You may be able to place a stop payment on your account(s). For your rights in placing a stop payment on your account(s), ...
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Payment Authorization and Remittance. I hereby represent and warrant to DFCU, its directors, officers, employees and agents that I own each Eligible FI Account and Verified Account and have full right and authority to all the funds on deposit therein. In addition, by providing DFCU with names and telephone numbers, email addresses and/or bank account information of Receivers, I authorize DFCU to execute and charge my Eligible FI Account(s) for (1) any A2A transfer request to a Verified Account and from a Verified Account to my Eligible FI Account, including any related fee, subject to any applicable limit as to dollar amount or time delays to complete certain types of transfers (i.e., Next Day or Standard transfers) when my A2A transfer requests are made in accordance with the procedures established by DFCU, regardless of whether the payment request is completed, and (2) any P2P transfer request to a Receiver, subject to any applicable limit as to dollar amount or time delays to complete certain types of transfers when my P2P transfer requests are made in accordance with the procedures established by DFCU, regardless of whether the payment request is completed. Additionally, I also authorize DFCU to credit my Eligible FI Account for the receipt of payments, including but not limited to those payments returned from Receivers to whom I sent payment(s) or cancelled and returned because the processing of the Payment Instruction could not be completed.
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Related to Payment Authorization and Remittance

  • Payment Authorization and Payment Remittance a. Section 12 of the General Terms does not apply to the Zelle® Payment Service. When you enroll to use the Zelle® Payment Service or when you permit others to whom you have delegated to act on your behalf to use or access the Zelle® Payment Service, you agree to the terms and conditions of this Agreement. You represent that you have the authority to authorize debits and credits to the enrolled bank account. In addition to the restrictions set forth in Section 13 of the General Terms, you agree that you will not use the Zelle® and Other Payment Services to send money to anyone to whom you are obligated for tax payments, payments made pursuant to court orders (including court-ordered amounts for alimony or child support), fines, payments to loan sharks, gambling debts or payments otherwise prohibited by law, and you agree that you will not use the Zelle® and Other Payment Services to request money from anyone for any such payments. You agree that you will not authorize a third party to use the Zelle® Payment Service or share your credentials with a third party to use the Zelle® Payment Service on your behalf except in legally authorized situations such as legal guardianship or pursuant to a power of attorney. b. This Section 2(b) does not apply to the Zelle® Small Business Service (to the extent made available by us). The Zelle® and Other Payment Services are intended for personal, not business or commercial use. You agree that you will not use the Zelle® and Other Payment Services to send or receive payments in connection with your business or commercial enterprise. We reserve the right to decline your enrollment if we believe that you are enrolling to use the Zelle® and Other Payment Services with your business account or to receive business or commercial payments. We further reserve the right to suspend or terminate your use of the Zelle® Payment Service if we believe that you are using the Zelle® Payment Service for business or commercial purposes, or for any unlawful purpose. c. You must provide us with an email address that you regularly use and intend to use regularly (i.e., no disposable email addresses) and a permanent mobile phone number that you intend to use for an extended period of time (i.e., no “burner” numbers). You may not enroll in the Service with a landline phone number, Google Voice number, or Voice over Internet Protocol. Once enrolled, you may: (i) authorize a debit of your account to send money to another User either at your initiation or at the request of that User; and (ii) receive money from another User either at that User’s initiation or at your request, subject to the conditions of the Section below titled “Requesting Payments.” If at any time while you are enrolled, you do not send or receive money using the Zelle® Payment Service for a period of 18 consecutive months, then you understand that we may cancel your enrollment and you will not be able to send or receive money with the Zelle® Payment Service until you enroll again. Once enrolled, a Z logo will appear on your profile picture for each U.S. mobile number and/or email address that you have enrolled with Zelle®. The Z logo will be displayed to other Users to aid them in determining which of your U.S mobile numbers or email addresses should be used to send money with Zelle®. If a User sends you money using a different U.S. mobile number or email address that they may have for you (one that is not already enrolled), you will receive a message with instructions on how to enroll with Zelle®. d. When you enroll with Zelle®, you may establish one or more profiles. Each profile may be linked to only one bank account or debit card, but you may enroll multiple email addresses or mobile phone numbers in each profile. Once you have enrolled an email address or a mobile phone number with a profile, you may not use that same email address or phone number with any other profile. By providing us with names and mobile telephone numbers and/or email addresses of Receivers to whom you wish to direct payments, you authorize us to follow the Payment Instructions that we receive through the Zelle® Payment Service. By providing us with names, bank account information and other contact information for Receivers to whom you wish to direct a payment via the Other Payment Service, you authorize us to follow the Payment Instructions that we receive via the Other Payment Services. Once enrolled, you authorize us to credit your Eligible Transaction Account for payments remitted to you on behalf of a Sender without further approval from you. e. When we receive a Payment Instruction from you, you authorize us to debit your Eligible Transaction Account for the amount of any such Payment Instruction plus any related fees in effect (and as disclosed on the Site) at the time you initiate the Payment Instruction, and to remit funds on your behalf. You acknowledge and agree that any applicable fees will be charged when we receive a Payment Instruction from you, regardless of whether the Payment Instruction is ultimately completed. You also authorize us to credit your Eligible Transaction Account for the receipt of payments, including, but not limited to, those payments returned to us from Receivers to whom you sent payment(s) and those payments that were cancelled and returned to you because the processing of the Payment Instruction could not be completed. f. You agree that we will not be liable in any way for any payments that you may receive, regardless of whether you authorized the Sender to send them to you. g. We will use reasonable efforts to complete all your Payment Instructions properly. However, we shall incur no liability if we are unable to complete any transaction because of the existence of any one or more of the following circumstances: 1. If, through no fault of ours, the Eligible Transaction Account does not contain sufficient funds to complete the Payment Instruction or the Payment Instruction would exceed the credit limit of your overdraft account; 2. The Zelle® and Other Payment Services are not working properly and you know or have been advised by us about the malfunction before you execute the Payment Instruction; 3. The payment is refused as described in Section 6 of the Zelle® and Other Payment Terms below; 4. You have not provided us with the correct information, including, but not limited to, the correct Payment Instructions or Eligible Transaction Account information, or the correct name and address or mobile phone number of the Receiver to whom you are initiating a Payment Instruction; and/or, 5. Circumstances beyond our control (such as, but not limited to, fire, flood, network or system down time, issues with the financial institution, or interference from an outside force) prevent the proper execution of the Payment Instruction. h. It is the responsibility of the Sender and the Receiver to ensure the accuracy of any information that they enter into the Zelle® and Other Payment Services (including, but not limited to, the Payment Instructions and name, telephone number and/or email address for the Receiver to whom you are attempting to send a payment), and for informing us as soon as possible if they become aware that this information is inaccurate. We will make a reasonable effort to stop or recover a payment made to the wrong person or entity once informed, but we do not guarantee such stoppage or recovery and will bear no responsibility or liability for damages resulting from incorrect information entered by the Sender or Receiver.

  • Payment Authorization I authorize ▇▇▇▇▇ Management to collect payment of the application fee and application deposit in the amounts specified under paragraph 3 of the Disclosures.

  • REPORTS AND REMITTANCES A. The Company shall provide to the Reinsurer a monthly report no later than thirty (30) calendar days following the end of each month. Said report shall provide a summary of the gross ceded premium and paid losses for the month that just ended (and in the aggregate during the term of this Contract). B. The Company shall also provide the Reinsurer with the Monthly Servicing Report (as that term is defined in the Policy) no later than sixty (60) calendar days following the end of each month. C. The Company shall pay to the Reinsurer, as promptly as possible, all amounts due the Reinsurer it receives from the Insured under the Policy (including without limitation, any premium, optional policy cancellation fee and amounts paid under Section VII thereof (Loss Adjustments; Application of Current Period Deal Modification Loss Amount)); provided, however, in no event later than five (5) business days after the Company receives any such amount under the Policy. D. Should payment become due from the Reinsurer hereunder, the Company shall give the Reinsurer notice of its intention to make payment on a certain date, and the Reinsurer agrees to remit such payment within ten (10) business days upon receipt of the Notice of Claim from the Insured as provided under the terms of the Policy. The Company authorizes that such payment by the Reinsurer shall be made directly to the Insured through .