ACCOUNTING FOR TRANSACTIONS. (a) You authorise NAB to open such accounts as NAB requires reasonably determines as necessary in connection with a Facility.
(b) Unless otherwise stated or agreed, you authorise NAB to debit the Nominated Account (or if there is more than one Nominated Account, the relevant Nominated Account) or the Loan Account (if any) for any amounts payable by you in relation to a Facility, a Loan Account or a Drawing, including fees, charges and premiums, taxes, enforcement expenses and any amount payable under an indemnity.
(c) If you authorise NAB to debit an amount to an account, NAB can debit that amount to that account even if it causes the account to become overdrawn. Alternatively, if there are insufficient funds in that account, or that account has been stopped or closed, you authorise NAB to debit that amount to any account of yours it decides, including an account NAB opens in your name.
(d) If you authorise NAB to debit an amount to one of two or more accounts, NAB may choose which of those accounts to debit at its discretion.
(e) If this Agreement does not state to which account an amount may be debited or credited, NAB may debit or credit that amount to any account of yours it decides, including an account NAB opens in your name.
(f) Where NAB debits an account in your name opened by:
(i) you, you must pay NAB interest (including default interest if applicable) on the amount debited in accordance with the terms of that account.
(ii) NAB, you must pay NAB interest charges on the overdrawn balance of that account at the Default Interest Rate.
(iii) either you or NAB, and the amount debited is not otherwise payable in accordance with this Agreement, the overdrawn balance of the account (taking into account any limit applicable to that account), is immediately payable by you without further notice. when we askNAB asks. It is to your benefit to pay this amount as soon as possible to minimise fees and interest (including default interest).
(g) NAB may assign any date it reasonably considers appropriate to a debit or credit to an account. In the case of a debit, the date must not be earlier than the date on which the transaction occurs. In the case of a credit, the date must be as soon as practicable after the transaction occurs: this is not necessarily the same day that the transaction occurs.
(h) NAB may subsequently adjust debits and credits to an account or any Balance Owing, so as to accurately reflect the legal obligations of NAB and you (for example, bec...
ACCOUNTING FOR TRANSACTIONS except to the extent that this occurs:
(f) for a Facility other than a Bill Facility or NAB (a) You authorise NAB to open such accounts as Business Markets Facility - on the Repricing NAB reasonably determines as necessary in Date applicable to the Facility or Loan Account connection with a Facility.
(g) fora Bill Facility or a NAB Business Markets (or if there is more than one Nominated Account,
(h) on the Expiry Date; or Drawing, including fees, charges and premiums, taxes, enforcement expenses and any amount (i) in order to comply with the Amortisation payable under an indemnity. Schedule (if any).
ACCOUNTING FOR TRANSACTIONS. Contract notes and corporate actions
9.1 Mainspring will provide all information, including contract notes, notices of company actions and entitlements and any periodic valuations to the Manager in respect of the Customer's Investments for which Mainspring provides the Services.
9.2 Mainspring will not be responsible for any losses incurred should the Manager fail to forward information to the Customer, or fail to do so in a timely fashion.
ACCOUNTING FOR TRANSACTIONS. (See Part 8.21, schedule duty 8) The agent must maintain records of his expenses against, and transactions with, the sequestration estate. The agent must account for his transactions at intervals coinciding with the dates for lodgement of the statutory transactions. Statements of account must be presented in the form provided in Annex G to these Notes, either in the turnkey format or, in any other format that has the Accountant’s prior approval. In certain circumstances the Accountant will also need to see the agent’s correspondence files etc, together with a statement of time and trouble. Generally, they will be required when the time expended by the agent is 25 hours or over in relation to any one accounting period. While these will be specifically requested, agents may wish to include them with their statements of account to avoid delays. The first statement of account must be submitted within 2 weeks of the expiry of 12 months from the date of sequestration. Thereafter statements of accounts must be submitted within 2 weeks of each anniversary of the date of sequestration, as follows: First and possible final account: on expiry of first 12 months from date of award of sequestration A formal determination in terms of section 52(2A) will be issued to the agent along with the letter of authority to act as trustee on behalf of the Accountant. Both of these should be entered in the sederunt book. Agents’ attention is drawn to Part 5.2 of the Notes for Guidance. If in the opinion of the agent an accounting period should be varied, he must submit an application using the form at Appendix B2 to the Notes at least 2 weeks before the end of the statutory accounting period. Agents are encouraged to vary the second and third accounting periods where there are few or no transactions. A completed Annex K1 should accompany the Appendix B2 where the Agent wishes re-imbursement of fees and outlays albeit that the accounting period is being varied. These will be subject to revision when an account is subsequently submitted. Net receipts, that is after deduction of any expenses or outlays relative to the transaction but not including agent’s remuneration ingathered from the realisation of assets and / or any IPA/IPO payments from the debtor etc, should be placed in an interest-bearing bank account. Balances and interest accrued must be remitted to the Accountant using the remittance form at Annex H whenever a statement of account is lodged. Small balances (£5.00 and unde...
ACCOUNTING FOR TRANSACTIONS. This transaction will be accounted for as a purchase transaction.
ACCOUNTING FOR TRANSACTIONS. 4.1 All accounting transactions relating to the ESCP will be recorded in the Host Employer’s Financial System.
4.2 For the purposes of this protocol Financial System means the system with which the Hosting Employer prepares its audited accounts, spreadsheet reconciliation will not be acceptable as a form of recording transactions.
4.3 Procurement will be conducted and authorised as per the partner Councils financial and contract procedure rules. All accounts payable invoices relating to expenditure covered by the agreement and as agreed in the approved budget will be matched to an authorised purchase order or authorised as per the financial procedure rules and paid in accordance with the Better Payment Practice Guidelines.
4.4 All accounts receivable invoices relating to income covered by the agreement will be raised in a timely manner and generated by the Host Employer’s financial system. The recovery of overdue payments will be carried out in accordance with the Host Employer’s policies and procedures.
4.5 All partner authorities will undertake to follow the same commitment to ensure they raise purchase orders, accounts payable and accounts receivable invoices in a timely manner.
ACCOUNTING FOR TRANSACTIONS. 6.1. We will account to you for any transaction we have executed for you by sending you a contract note or ETC. If you have a preferred method of confirmation, please tell us and in the absence of your specific instructions, we will account to you by using a contract note. If you do not wish to receive a contract note or ETC you must notify us in writing.
6.2. Contract notes or ETCs shall, in the absence of manifest error, be conclusive and deemed acknowledged by you as correct (even if we request but do not receive specific acknowledgement or acceptance) unless we receive from you written notice to the contrary within ten Business Days of receipt by you of the contract note or ETC, or we notify you of an error.
6.3. Where we execute a series of transactions over a period of days to achieve one order, all of the transactions shall be treated as executed at the time of the last transaction and you will receive one contract note or ETC.
6.4. The venue where the transaction has been executed will be disclosed on the contract note or ETC.
