Recurring Payment Sample Clauses
A Recurring Payment clause establishes the obligation for one party to make regular, scheduled payments to another party over a specified period. Typically, this clause outlines the payment amount, frequency (such as monthly or annually), and the method by which payments will be made, often applying to services or subscriptions that are ongoing. Its core practical function is to ensure predictable and consistent cash flow for the recipient while providing clarity and structure for both parties regarding payment expectations.
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Recurring Payment. You may schedule payments to Payees to be automatically initiated for a fixed amount on a scheduled payment frequency. Choose the option next to the Payee that says Make it Recurring to schedule your recurring payment. You may make payments weekly, biweekly, semi-monthly, monthly, quarterly, semi-annually, or annually. If the Scheduled Payment Date does not exist in a certain month, then the payment will be initiated on the last Business Day of the month. For example, if you schedule a payment for the 30th of each month, your payment for the month of February will be initiated on or before the last day of February. When establishing a recurring payment, you may elect to choose for the payment to Pay Before or Pay After a scheduled date that falls on a holiday or weekend. • When we receive a Payment Instruction, you authorize us to debit your Payment Account and remit funds to the Payee on your behalf. Before an electronic payment is processed, available funds will be verified and withdrawn from your account. Bill Payments will be attempted at the established Cutoff Times depending on when the payment was established. If the payment cannot be processed due to insufficient funds, Bill Pay will attempt to pay the bill for three business days. An email will be generated when the payment cannot be processed due to insufficient funds. If the payment cannot be paid at the end of the three business days, the payment will be automatically canceled, and you will be required to set up the payment again. You will receive an email notification if a Bill Payment has been canceled due to insufficient funds. • We can process a Bill Payment when the Scheduled Payment Date has been scheduled prior to the established Cutoff Times on any Business Day. If you schedule a Bill Pay after the established Cutoff Times, we will process the transaction on our next business day. If you schedule a Bill Payment for a future date, we will process the transaction on that date, if that day is a business day. If the date you request for a future Bill Pay is not a business day, we will process the transaction based on the Pay Before or Pay After designation you selected. If you schedule a recurring Bill Pay and the transfer date does not exist in a month, the Bill Pay will be processed on the last business day of that month. • Bill Payments will be processed at established Cutoff Times on business days. It is anticipated that most transactions will be processed by the next Business Day after...
Recurring Payment. In addition to the payment acceptance facility above, the Merchant/Sub-Merchant may subscribe to the following additional services provided by the Bank in accordance with the terms and subject to the conditions in this Agreement:-
Recurring Payment. If you want to permanently stop all recurring payments to a specific merchant, you may be required to put your request in writing and email it to Contact@Tokenizer ▇▇▇▇.▇▇▇ within fourteen (14) days after you call. If we ask you to put your request in writing, you will need to tell us; the name of the payee, the dollar amount of the payment and the date of the payment. If written stop payment notification is required but is not received within fourteen (14) days, only the first payment you notified us of will be stopped, and future payments will not be stopped.
Recurring Payment. Once you choose a Subscription Plan, such Subscription Plan shall automatically renew each month. You may choose to opt-out from such renewal by clicking the applicable option in your Account.
Recurring Payment. (a) The Merchant shall electronically transmit Input File to the Bank as directed by the Bank in accordance with Bank’s prevailing practice. The Bank shall process the Input File received from the Merchant and subject to the success/approval of the transaction, the Bank shall debit the Cardholder’s Card Account accordingly.
(b) The Bank shall not be obliged to verify the accuracy of the information contained in the Input File and the Merchant shall be responsible for all costs or losses incurred because of any errors.
(c) Upon completion of the Input File processing, the Bank shall send to the Merchant the result of the Input File processing via Secure File Transfer Protocol or other means determined by the Bank. The result shall contain information on all successful transactions and unsuccessful transactions.
Recurring Payment. If the Transmit Date for any Recurring Payment falls on a day other than a business day or is a day that does not exist for the specified recurring period, then the Transmit Date for that Recurring Payment will be rescheduled on the next following business day of the specified period. For example, if the 5th day of each month is normally the Transmit Date for a Recurring Payment, and in one month during the recurring period the 5th falls on a Saturday, then the Transmit Date for the Recurring Payment to be made for that month would be the 7th day of the month (provided that the 7th is a business day). Differences in the days of the week may reduce the number of business days between your scheduled Transmit Date and your Due Date in any specified recurring period. In order to ensure that your Recurring Payments always allow at least five (5) business days between the Transmit Date and the Due Date, we recommend that you schedule the Transmit Date for each Recurring Payment to be at least ten (10) calendar days prior to your Due Date. Please note that the Payment Guarantee described below does not apply to a Recurring Payment if, for that specific Payment, there are not at least five (5) business days, or two (2) business days in the case of Payments that may be remitted electronically, between the Transmit Date and the Due Date.
Recurring Payment you can select the frequency of the payment (weekly, every two weeks, monthly, twice a month, quarterly, annual) and specify the total number of payments to be made. These payments must be for the same amount each time. o Future payments – onetime payment to be made in the near future. You shall inform us the exact amount and the specific date, up to a limit of one year since the date of issuance. You may request a payment be delivered one time, or on an automatic recurring basis in such manner as you direct. We reserve the right to limit the frequency and dollar amount of transactions from your accounts. You acknowledge that some payments may vary during time in which the Bill Payment Service is in effect. It is expressly agreed that is your obligation to notify us if a change occurs in the amount of the fixed payment, the frequency or account number with the payee. A notice of change must be made ten (10) days before the effective day of the payment, in order that the adjustment’s effective date is processed before the date designated for the processing of the payment. FirstBank will not be liable for discrepancies in any fixed payments made before receiving and processing the described notice of change. Recurring payments that occur on a weekend or federal holiday will be schedule for the next business day after the weekend or federal holiday. ü Bill Payment Method FirstBank reserves the right to select the method with which to remit funds on your behalf to your payee. These payment methods may include, but may not be limited to, an electronic payment, an electronic to check payment, or a laser draft payment (funds remitted to the ▇▇▇▇▇▇ are deducted from your Payment Account when the laser draft is presented to your financial institution for payment). When using the electronic payment method, FirstBank will generally debit your account within 24 hours of receiving your instructions for the payment or whenever FirstBank decides appropriate to complete the payment according to your instructions. ü Bill Payment Transaction Limits & Bill Payment Transaction History For security reasons, FirstBank may limit the amount or the number of transactions permitted in this service. You will be able to view all payments that have been processed individually. The system will maintain the history of all payments made by you for the past twelve (12) months. You will be able to print the confirmations through the web page; also you will receive a confirmation of the p...
Recurring Payment. You may schedule payments to Payees to be automatically initiated in a fixed amount on the same scheduled payment frequency. Click the button by the Payee that says “Make it Recurring” to schedule your recurring payment. You may make payments weekly, bi-weekly, semi-monthly, monthly, quarterly, semi-annually or annually. When a recurring payment is processed, it is automatically rescheduled by the system. Based on your selected frequency settings for the payment, a processing date is calculated for the next occurrence of the payment. If the calculated processing date is a non-business date (generally weekends and certain holidays), it is adjusted based upon the following rules:
(1) If the recurring payment’s “Pay Before” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date prior to the calculated processing date.
(2) If the recurring payment’s “Pay After” option is selected, the processing date for the new occurrence of the payment is adjusted to the first business date after the calculated processing date.
Recurring Payment. All Subscriptions renew automatically by default at the completion of the billing term. If supported by your payment method, payment of the Fees is recurring. By default, recurring payment for any purchase is turned on when you use a payment method that supports recurring payment (credit card and Paypal), and turned off when you use a payment method that does not support recurring payment (such as bank transfer). Recurring payment can be revoked from within the User Area at least 7 days before the subscription renews using the revoke button.
Recurring Payment. You may set a recurring payment (“Recurring Payment”) by selecting a fixed payment amount and a payment frequency. For the fixed payment amount, the Payment Service provides two options: you may elect either Current Regularly Scheduled Payment Monthly Amount or Other Fixed Custom Amount. If you elect Other Fixed Amount, you need to enter a specific amount in the Payment Service. If the amount you enter is less than the total amount due in your monthly billing statement, you are responsible for the timely payment of the remaining amount. Also, if the maturity date or monthly due date changes, regardless of reason, it is your responsibility to adjust the payment amounts and pull dated on the Payment Service. The Current Regularly Scheduled Payment Amount, provided for your convenience and disclosed in the Payment Service, refers to the then regularly scheduled payment due under your contract with us at the time you set up the Recurring Payment and does not include any additional amounts that may accrue in the future or any amounts, other than the regularly schedule payment, that may be due at the time you schedule the Recurring Payment, such as past due amounts and fees. If your regularly monthly scheduled payment amount changes, after you scheduled the Recurring Payments, for example if your monthly lease payment increases or decreases, regardless of reason, the Current Regularly Scheduled Payment Amount will not change unless you change the Recurring Payment amount to reflect the new regularly scheduled payment amount. Similarly, if additional amounts post to your Account, such as, but not limited to, late fees, tolls, and parking tickets, as applicable, they will not be debited with the Current Regularly Scheduled Payment, and you remain responsible for their timely payment. Also, if the maturity date or monthly due date changes, regardless of reason, it is your responsibility to adjust the payment amounts and pull dated on the Payment Service. Recuring Payments may be scheduled on the following frequencies, depending on whether you elect Current Regularly Scheduled Payment Amount Monthly Amount or Custom Other Fixed Amount: • Monthly – payments will be pulled on the same day of the month each month, unless the day falls on a non-business day, in which case it will be pulled on the following business day. This frequency is available for both Current Regularly Scheduled Payment Amount and Other Fixed Amount. • Semi-monthly - payments will be pulled on the ...