Common use of ACH Payments Clause in Contracts

ACH Payments. If you elect to have the payment for an entry in your Data File made by ACH, you will be the originator of the ACH entry that the Bank creates from your Data File, whether such payment data is transmitted to the Bank through secure file transfer protocol ("FTP") or through Online Banking. In order to elect ACH payments as part of the Integrated Payables Service, the Bank must have agreed to provide you ACH Origination Service and you must have a signed Commercial Online Banking Appendix. Each ACH entry created in accordance with your integrated payables data file will be settled to one of the settlement accounts designated in your Appendix. Except as otherwise provided in this Integrated Payables Service Schedule, the terms and conditions for the ACH Origination Service will govern each entry which, in accordance with your integrated payables data file, the Bank creates, formats and transmits to settle through ACH, including without limitation, those relating to exposure limits and delays or suspension of processing.