Authorization for Handling of Funds. By accepting this agreement, you authorize us to hold, receive, and disburse funds on your behalf when such funds from your card transactions settle from the Card Networks. Settlement funds will be held in a deposit account at pending disbursement of the funds to you in accordance with the terms of this contract. You agree that you are not entitled to any interest or other compensation associated with the settlement funds held, pending settlement to your designated bank settlement account, that you have no right to direct that deposit account, and that you may not assign any interest in the deposit account. We may periodically make available to you, information in the Payrix management dashboard regarding anticipated settlement amounts received on your behalf from the Card Networks and are being held pending settlement. This settlement information does not constitute a deposit or other obligation of Payrix to you. This settlement information reflected in the Payrix management dashboard is for reporting and informational purposes only, and you are not entitled to, and have no ownership or other rights in settlement funds, until such funds are credited to your designated bank settlement account. Your authorizations set forth herein will remain in full force and effect until your Payrix Account is closed or terminated.
Authorization for Handling of Funds. By accepting this agreement, you authorize us to act as your agent for the limited purposes of holding, receiving, and disbursing funds on your behalf when such funds from your transactions under your NihaoPay account settled from the Networks. You further authorize NihaoPay to instruct NihaoPay partnered bank on how your transaction settlement funds should be disbursed to you (e.g. b y ACH credit transaction or wire transaction) and the timing of such disbursements. You acknowledge and agree that our processing of a transaction, and our subsequent receipt of funds in connection with a transaction on your behalf satisfies your Customer’s obligations to make payment to you. Settlement funds will be held in a deposit account at NihaoPay partnered bank pending disbursement of the funds to you in accordance with the terms of this contract. You agree that you are not entitled to any interest or other compensation associated with the settlement funds held by NihaoPay partnered bank pending settlement to your designated bank settlement account, that you have no right to direct that deposit account, and that you may not assign any interest in the deposit account at NihaoPay partnered bank. We may make available to you information in the NihaoPay management dashboard regarding anticipated settlement amounts received on your behalf from the Networks and are being held pending settlement. This settlement information does not constitute a deposit or other obligation of NihaoPay or NihaoPay partnered bank to you. This settlement information reflected in the NihaoPay management dashboard is for reporting and informational purposes only, and you are not entitled to, and have no ownership or other rights in settlement funds, until such funds are credited to your designated bank settlement account. Your authorizations set forth herein will remain in full force and effect until your NihaoPay Account is closed or terminated.
Authorization for Handling of Funds. By accepting this agreement, you authorise PayPlus to hold, receive, and disburse funds on your behalf when such funds from your transactions are settled by Designated Bank. You further authorise PayPlus to instruct Designated Bank in the manner of how your transaction settlement funds should be disbursed to you (such as by direct credit) and the timing of such disbursements. By accepting this agreement, you also authorise PayPlus to hold settlement funds in a deposit account pending disbursement of the funds to you in accordance with the terms of this Agreement. You agree that you are not entitled to any interest or other compensation associated with the settlement funds held in the deposit account pending settlement to your designated bank settlement account, that you have no right to direct that deposit account, and that you may not assign any interest in the deposit account. PayPlus may periodically make available to you information in the PayPlus management dashboard regarding anticipated amounts that are in the process of being received from Designated Bank. This information does not constitute an obligation of PayPlus or Designated Bank to you. This information reflected in the PayPlus management dashboard is for reporting and informational purposes only, and you are not entitled to, and have no ownership or other rights to these amounts, until such funds are credited to your designated bank settlement account. Your authorizations provided in this Agreement will remain in full force and effect until your PayPlus account is closed or terminated.
Authorization for Handling of Funds. By accepting this Agreement, you authorize Xxxxx Fargo to hold, receive, and disburse funds on your behalf when such funds from your card transactions settle from the Payment Networks. You further authorize Stripe, on behalf of Shopify, to instruct Xxxxx Fargo in the manner of how your card transaction settlement funds should be disbursed to you (such as by ACH credit transaction or sending you a paper check payable to you) and the timing of such disbursements. You also authorize Xxxxx Fargo to hold settlement funds in a deposit account at Xxxxx Fargo pending disbursement of the funds to you in accordance with the terms of this Agreement. You agree you are not entitled to any interest or other compensation associated with the settlement funds held in the deposit account at Xxxxx Fargo pending settlement to your designated bank settlement account, that you have no right to direct that deposit account, and that you may not assign any interest or grant any security interest or lien in the settlement funds or the deposit account at Xxxxx Fargo. From time to time, we may make available to you information in the Service Account regarding anticipated settlement amounts that we have received on your behalf from the Payment Networks and are being held by us pending settlement. The settlement information reflected in the Service Account is for reporting and informational purposes only, and does not create any ownership or other rights in settlement funds, which are provisional credits only, until such funds are credited to your designated bank settlement account. Your authorizations set forth herein will remain in full force and effect until your Service Account is closed or terminated.
