Scheduled Internal Transfer Date Sample Clauses

The Scheduled Internal Transfer Date clause defines the specific date on which a transfer of funds or assets is to occur within an organization or between its internal accounts. This clause typically applies to transactions such as moving money between different departments, subsidiaries, or designated accounts, and it ensures that all parties involved are aware of the exact timing for the transfer. By clearly establishing when the internal transfer will take place, the clause helps coordinate financial operations and prevents confusion or disputes regarding the timing of internal movements.
Scheduled Internal Transfer Date. If the scheduled transfer date occurs on a Business Day, your account will be debited and the transfer will be processed that same day during the Bank’s scheduled nightly processing; otherwise the transfer will be processed during nightly processing on the next Business Day.