Payments from the Account. 6.1. In order to perform any of the payment, the Client must follow the instructions on Global Letter Website, and for execution of payment customer must login to Personal Area. The Client may contact the Customer Support to change the payment limits. 6.2. The Client agrees that Payment Order cannot be cancelled once the funds have been converted into requested currency. 6.3. In the event, when Payment Order is initiated by the Client, it cannot be cancelled once such Payment Order is executed. 6.4. To set up internal Payment Order via Client Account, the Client must provide certain information to Global Letter including payment amount, beneficiary’s name, beneficiary’s account details, amount to be transferred, payment details (description of the payment) and/or other required information. 6.5. To set up Payment Order via Client Account, the Client must provide certain information to Global Letter including payment amount, beneficiary name, beneficiary’s account details (e.g. IBAN), beneficiary country and address, beneficiary bank details (e.g. SWIFT, bank name, etc.), payment details (description of the payment) and/or other required information in the Personal Area. 6.6. The Client must ensure provision of true and authentic information, data and/or documents in relation to the Payment Order. If these details are incorrect Global Letter may not execute / may reject or execution of such Payment Order may be delayed. If Payment Order was rejected, fee for such Payment Order shall be applied as if it has been executed. 6.7. The Client must ensure that the information they provide when setting up a Payment Order is accurate. If Global Letter had processed Payment Order in accordance with the information the Client had provided to Global Letter, it will be considered correctly completed even if Client had made a mistake. 6.8. In case the Payment Order has been filled-in incorrectly, the Payment Operation is not executed, unless Global Letter at its own initiative in exceptional cases corrects the Payment Order or has sufficient amount of information to determine the correctness of information to execute the Payment Order under a regular procedure. 6.9. If Payment Order made by the Client is received by Global Letter after 5pm on a Business Day or not on a Business Day, the Payment Order will be deemed received on the following Business Day. 6.10. Each Payment Order is given a unique number and is shown in the operation history in Client Account. 6.11. Global Letter will only process Client’s Payment Order if Global Letter holds or had received enough cleared funds in their Global Letter Account. The Client is responsible on funding Payment Order in a timely manner. 6.12. The payment transfer to another Global Letter Account shall be executed instantly. The payment transfer to other Lithuania or EU Member State bank account shall be executed at the same business day if Payment Order is made until 12 pm (noon) and next business day if it is made after 12 pm (noon). The term of payment transfer execution may be extended up to 4 (four) business days if the Payment Order is made in currencies of non-euro area Member States. 6.13. The Payment Order made by the Client may not be executed or execution may be delayed if Global Letter (i) has reasonable doubts if the Payment Order was submitted by the Client or (ii) has reasonable doubts regarding legality or content of the Payment Order. 6.14. The Client agrees that Global Letter shall be entitled to request the Client to provide additional information (in any form) or perform certain actions to clear any doubts in relation to the Payment Order, also, to require proof the origin of Client’s funds, income and/or wealth. The Client represents and warrants that in such event, Global Letter shall not be held liable if the Client suffers any damages in relation to delayed or declined Payment Order. 6.15. If any additional actions are required in relation to the Payment Order, the Client shall be informed about such required additional actions by message in Personal Area and/or email at which had been registered for the purpose of opening of Global Letter Account. 6.16. Global Letter will use reasonable efforts to ensure funds arrive at Payee’s account within the notified timeframe. The Client understands that Global Letter does not have any control over the time it may take for the Payee’s bank or payment service provider to credit and make funds available to the Payee. 6.17. The Client agrees that Global Letter may change the terms and/or methods of Payment Orders in accordance with technical reasons and/or payment services provider requirements and/or legal requirements. 6.18. Payment Orders before the execution must be authorized by the Client authenticating the Payment Order. 6.19. In order to authorize the Payment Order, the Client shall use his/her personalized security features following the instructions provided by Global Letter on its Website. If the Client fails to follow such instructions, the Client shall be responsible for any and all damages in relation thereto. 6.20. If Global Letter is unable to complete Payment Order, Global Letter may inform the Client and/or, if possible, Global Letter may specify the reasons for the refusal and an explanation of how to correct any factual errors. However, Global Letter is not required to notify the Client if such notification would be unlawful or need a specific investigation by appropriate authorities. 6.21. The Client affirms the understanding that Global Letter shall be entitled to suspend the execution of the Client’s Payment Order if it is required under the applicable law or because of other reasons unrelated to Global Letter, if that happens, the Client shall not be able to place Payment Order, placed Payment Orders shall not be executed. 6.22. The Client must immediately inform Global Letter if his/her Client Account has been credited with the funds that do not belong to the Client and: 6.22.1. do not use such funds in any way; 6.22.2. if the such funds had been used by the Client and there are not enough funds on Client Account, the Client must not later than within 7 (seven) calendar days, credit the respective amount of funds to his/her Client Account; 6.22.3. in all cases, the Client undertakes to return such funds reimburse any and all cost and/or damages suffered by Global Letter regarding reclaim of such funds. The Client hereby irrevocably consents that (i) such erroneous funds may be deducted from Client Account without the Client’s consent; (ii) until the Client fulfils the foregoing obligation, Global Letter shall be entitled to freeze the remaining amount of funds on Client Account and suspend execution of the Client’s Payment Orders; (iii) if the Client does not credit his/her Client Account with the respective amount of funds within 7 (seven) calendar days, Global Letter shall be entitled to retract such funds in accordance with the applicable law.
Appears in 1 contract
Sources: Terms of Service
Payments from the Account. 6.1. In order to perform any of the payment, the Client must follow the instructions on Global American Trust Letter Website, and for execution of payment customer must customermust login to Personal Area. The Client may contact the Customer Support to change tochange the payment limits.
6.2. The Client agrees that Payment Order cannot be cancelled once the funds have been converted into requested currency.
6.3. In the event, when Payment Order is initiated by the Client, it cannot be cancelled once such Payment Order is executed.
6.4. To set up internal Payment Order via Client Account, the Client must provide certain information to Global American Trust Letter including payment amount, beneficiary’s name, beneficiary’s account details, amount to be transferred, payment details (description of the payment) and/or other required information.
6.5. To set up Payment Order via Client Account, the Client must provide certain information to Global American Trust Letter including payment amount, beneficiary name, beneficiary’s account details (e.g. IBAN), beneficiary country and address, beneficiary bank details (e.g. SWIFT, bank name, etc.), payment details (description details(description of the payment) and/or other required information in the Personal AreaPersonalArea.
6.6. The Client must ensure provision of true and authentic information, data and/or documents in relation to the Payment Order. If these details are incorrect Global American Trust Letter may not execute / may reject or execution of such Payment Order may be delayed. If Payment Order was rejected, fee for such Payment suchPayment Order shall be applied as if it has been executed.
6.7. The Client must ensure that the information they provide when setting up a Payment Order is accurate. If Global American Trust Letter had processed Payment Order in accordance with the information the Client had provided to Global American Trust Letter, it will itwill be considered correctly completed even if Client had made a mistake.
6.8. In case the Payment Order has been filled-in incorrectly, the Payment Operation is not executed, unless Global American Trust Letter at its own initiative in exceptional cases corrects the Payment Order or has sufficient amount of information to determine the correctness of information to execute the Payment Order under a regular procedure.
6.9. If Payment Order made by the Client is received by Global American Trust Letter after 5pm on 5pmon a Business Day or not on a Business Day, the Payment Order will be deemed received deemedreceived on the following Business Day.
6.10. Each Payment Order is given a unique number and is shown in the operation history in Client Account.
6.11. Global American Trust Letter will only process Client’s Payment Order if Global American Trust Letter holds or holdsor had received enough cleared funds in their Global American Trust Letter Account. The Client is Clientis responsible on funding Payment Order in a timely manner.
6.12. The payment transfer to another Global American Trust Letter Account shall be executed instantlyexecutedinstantly. The payment transfer to other Lithuania or EU Member State bank account shall be executed at the same business day if Payment Order is made until madeuntil 12 pm (noon) and next business day if it is made after 12 pm (noon). The term Theterm of payment transfer execution may be extended up to 4 (four) business days businessdays if the Payment Order is made in currencies of non-euro area Member States.
6.13. The Payment Order made by the Client may not be executed or execution may be delayed if Global American Trust Letter (i) has reasonable doubts if the Payment Order was submitted by the Client or (ii) has reasonable doubts regarding legality or content orcontent of the Payment Order.
6.14. The Client agrees that Global American Trust Letter shall be entitled to request the Client to Clientto provide additional information (in any form) or perform certain actions to clear any doubts in relation to the Payment Order, also, to require proof the origin of Client’s funds, income and/or wealth. The Client represents and warrants that in such event, Global American Trust Letter shall not be held liable if the Client suffers Clientsuffers any damages in relation to delayed or declined Payment Order.
6.15. If any additional actions are required in relation to the Payment Order, the Client shall be informed about such required additional actions by message in Personal Area and/or email at which had been registered for the purpose of opening of Global American Trust Letter Account.
6.16. Global American Trust Letter will use reasonable efforts to ensure funds arrive at Payee’s account Payee’saccount within the notified timeframe. The Client understands that Global American Trust Letter does not have any control over the time it may take for the Payee’s bank or bankor payment service provider to credit and make funds available to the Payee.
6.17. The Client agrees that Global American Trust Letter may change the terms and/or methods of Payment Orders in accordance with technical reasons and/or payment services provider requirements and/or legal requirements.
6.18. Payment Orders before the execution must be authorized by the Client authenticating the Payment Order.
6.19. In order to authorize the Payment Order, the Client shall use his/her personalized security features following the instructions provided by Global American Trust Letter on its Website. If the Client fails to follow such instructions, the Client shall be responsible for any and all damages in relation thereto.
6.20. If Global American Trust Letter is unable to complete Payment Order, Global American Trust Letter may inform mayinform the Client and/or, if possible, Global American Trust Letter may specify the reasons for the forthe refusal and an explanation of how to correct any factual errors. However, Global ,American Trust Letter is not required to notify the Client if such notification would be unlawful or need a specific investigation by appropriate authorities.
6.21. The Client affirms the understanding that Global American Trust Letter shall be entitled to suspend tosuspend the execution of the Client’s Payment Order if it is required under the applicable theapplicable law or because of other reasons unrelated to Global American Trust Letter, if that happens, the Client shall not be able to place Payment Order, placed Payment Orders PaymentOrders shall not be executed.
6.22. The Client must immediately inform Global American Trust Letter if his/her Client Account has Accounthas been credited with the funds that do not belong to the Client and:
6.22.1. do not use such funds in any way;
6.22.2. if the such funds had been used by the Client and there are not enough funds on Client Account, the Client must not later than within 7 (seven) calendar days, credit the respective amount of funds to his/her Client Account;
6.22.3. in all cases, the Client undertakes to return such funds reimburse any and all cost and/or damages suffered by Global American Trust Letter regarding reclaim of such funds. The Client hereby irrevocably consents that (i) such erroneous funds may be deducted from Client Account without the Client’s consent; (ii) until the Client fulfils the foregoing obligation, Global American Trust Letter shall be entitled to freeze the remaining amount of funds on Client Account and suspend execution of the Client’s Payment Orders; (iii) if the Client does not credit his/her Client Account with Accountwith the respective amount of funds within 7 (seven) calendar days, Global Letter shall be entitled to retract such funds in accordance with the applicable law.
Appears in 1 contract
Sources: Terms of Service