Incorrect Payment definition

Incorrect Payment means a payment that (a) has not been executed according to Proper Instructions given to us; or (b) has been processed outside our maximum processing time for that type of payment; or (c) has not been processed at all.
View Source
Incorrect Payment means a VRP initiated to a Merchant, which is or was authorised by the Bank Customer, but has been incorrectly executed, including where the payment amount is incorrect, the payment date is incorrect, the payment frequency is incorrect or multiple payments have been made in error;
View Source
Incorrect Payment means a payment that:
View Source

Examples of Incorrect Payment in a sentence

  • Incorrect Payment 113115 ArticleARTICLE IX MISCELLANEOUS 1168 Section 9.01.

  • Incorrect Payment ....................................................................

  • Apology for Incorrect Payment Underpayment Name Company Name & Address here.

  • Incorrect Payment .................................................................................


More Definitions of Incorrect Payment

Incorrect Payment. If, following any inspection under clause 6.13, Comvita’s representative determines that Derma Sciences has underpaid the amount of royalties payable to Comvita under this Agreement: (a) Comvita’s representative will provide to Derma Sciences a written report of his or her determination. Such report will show how Comvita’s representative has calculated the underpayment; and (b) within five Business Days following receipt of the written determination, Derma Sciences will pay to Comvita the unpaid amount. Derma Sciences will at the same time pay interest on such amount in accordance with clause 6.8.
View Source
Incorrect Payment has the meaning given to that term in clause ‎12.1(a).
View Source

Related to Incorrect Payment

  • Direct Payment means a payment granted directly to farmers under an income support scheme listed in Annex I,

  • CVR Payment Amount means with respect to each CVR Payment and each Holder, an amount equal to such CVR Payment divided by the total number of CVRs and then multiplied by the total number of CVRs held by such Holder as reflected on the CVR Register.

  • Payment Item each check, draft or other item of payment payable to a Borrower, including those constituting proceeds of any Collateral.

  • Monthly Payment Amount means, with respect to each Payment Date, a payment equal to the amount of interest which has accrued during the related Interest Accrual Period, computed at the Interest Rate.

  • Untimely payment means a payment to a subcontractor that is more than 90 days past due under the terms and conditions of a subcontract for supplies and services for which the Government has paid the prime contractor.