Bulk Electronic Clearing System definition

Bulk Electronic Clearing System or “BECS” means the system known as the Bulk Electronic Clearing System that has the role of managing the conduct of the exchange and settlement of bulk electronic low value transactions in Australia.
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Bulk Electronic Clearing System. (BECS) means the settling of transferred funds between accounts by financial institutions.
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Bulk Electronic Clearing System means the system which manages the conduct of the exchange and settlement of bulk electronic low value transactions in similar fashion to that applying to paper-based payment instructions. debit day means the day that payment by the customer to IP Australia is due debit payment means a particular transaction where a debit is made direct debit request means the Direct Debit Request between the customer and IP Australia IPA-B2B means the IPA-B2B system which applies to specified types of communications and transactions as specified in the IPA-B2B agreement. IPA-B2B agreement means the B2B agreement between IP Australia which the customer must enter into before this Direct Debit service agreement can take effect. the customer means the party who has signed the Direct Debit Request the customer's financial institution means the financial institution nominated by the customer on the Direct Debit Request at which the account is maintained
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Examples of Bulk Electronic Clearing System in a sentence

  • This debit or charge will be made through the Bulk Electronic Clearing System (BECS) from your account held at the financial institution you have nominated below and will be subject to the terms and conditions of the Direct Debit Request Service Agreement.

  • Direct Debiting to credit cards does not form part of procedures governed by the Bulk Electronic Clearing System.

  • This debit or charge will be made through the Bulk Electronic Clearing System (BECS) from your account held at the financial institution you have nominated in Item 2 of the Schedule to this Agreement and will be subject to the terms and conditions of the Direct Debit Request Service Agreement.

  • This debit or charge will be made through the Bulk Electronic Clearing System (BECS) from your account held at the financial institution you have nominated below or to the credit card details you have provided and will be subject to the terms and conditions of the Direct Debit Request Service Agreement.

  • Debit from Bank, Building Society or Credit Union Account Financial Branch: Institution: BSB Number: - Account Number: Account Holder Name: I/We authorise Global Payments Australia 1 Pty Ltd ACN 601 396 543 (User ID No 342190, 342191, 428198) to debit my/our account at the Financial Institution identified above through the Bulk Electronic Clearing System (BECS) in accordance with this Direct Debit Request.

  • Openmarkets recommends that you: confirm with Your Financial Institution whether direct debiting through the Bulk Electronic Clearing System (BECS) is available from the Account as direct debiting may not be available on all accounts offered by Your Financial Institution; and check that the Account details provided to Openmarkets are correct by checking them against a recent Account statement.

  • Entries initiated to or from Customer’s depository account will be in accordance with Payment Network Rules (as relevant), the Bulk Electronic Clearing System (CS2) Regulations and Procedures (as relevant) and/or any other regulatory body or agency having jurisdiction over the subject matter hereof.

  • You should be aware that direct debiting through the Bulk Electronic Clearing System is not available on all bank accounts.

  • I / We hereby authorise Elixr User ID 307111 to arrange for funds to be debited from my / our account at the financial institution identified below as prescribed through the Bulk Electronic Clearing System (BECS).

  • You authorise and request any of the Macquarie Group companies listed in the direct debit agreement to direct debit the amount specified in section 8 from your nominated bank account specified in section 8 through the Bulk Electronic Clearing System.


More Definitions of Bulk Electronic Clearing System

Bulk Electronic Clearing System means the system established by the Australian Payments Clearing Association to manage the conduct of the exchange and settlement of bulk electronic low value transactions and includes any replacement system.
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Bulk Electronic Clearing System means a system used to manage the exchange and settlement of bulk electronic low value transactions. Direct Debit means the deduction of funds directly from a nominated bank account.
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Related to Bulk Electronic Clearing System

  • Electronic cleaner means a product labeled for the removal of dirt, moisture, dust, flux, or oxides from the internal components of electronic or precision equipment such as circuit boards, and the internal components of electronic devices, including but not limited to, radios, compact disc (CD) players, digital video disc (DVD) players, and computers. “Electronic Cleaner” does not include “General Purpose Cleaner,” “General Purpose Degreaser,” “Dusting Aid,” “Pressurized Gas Duster,” “Engine Degreaser,” “Electrical Cleaner,” “Energized Electrical Cleaner,” “Anti-Static Product,” or products labeled to clean the casings or housings of electronic equipment. “Electronic Cleaner” does not include any product that meets both of the following criteria:

  • Electronic converter means a device capable of controlling and/or converting electric power for electric propulsion.

  • Electronic Control System means a combination of units, designed to co-operate in the production of the stated vehicle control function by electronic data processing. Such systems, often controlled by software, are built from discrete functional components such as sensors, electronic control units and actuators and connected by transmission links. They may include mechanical, electro-pneumatic or electro-hydraulic elements.

  • Electronic Coupon means an electronic flight coupon or other value document held in our database.

  • Electronic component means an item that operates by controlling the flow of electrons or other electrically charged particles in circuits, using interconnections of electrical devices such as resistors, inductors, capacitors, diodes, switches, transistors, or integrated circuits. The term does not include structural or mechanical parts of an assembly containing an electronic component, and does not include any high performance magnets that may be used in the electronic component.