Common use of Settlement Timing Clause in Contracts

Settlement Timing. If a merchant submits a withdrawal request on day “T” before 3pm, Latipay will process the settlement on business day “T+1” between 3pm and 4pm. If a merchant submits a withdrawal request on day “T” after 3pm, Latipay will process the settlement on business day “T+2” between 3pm and 4pm.