Automatic Pre-Authorized Payments Sample Clauses
The Automatic Pre-Authorized Payments clause authorizes a party to automatically withdraw payments from another party’s designated account on a recurring basis. Typically, this clause outlines the payment schedule, the amount to be withdrawn, and the account details, and may specify how changes or cancellations to the authorization can be made. Its core practical function is to streamline the payment process, ensuring timely and consistent payments while reducing administrative effort and the risk of missed or late payments.
Automatic Pre-Authorized Payments. CSG and its third party ACH Originator shall provide automatic payment deduction which will occur monthly on a predetermined date (selected by Customer from a range supplied by CSG). CSG will submit a file to the ACH Originator *** (*) **** prior to the date the deduction is scheduled to take place. The Subscriber payment amount submitted to the ACH Originator will be the statement balance if the statement balance is less than the current balance or if the statement balance is greater than the current balance, then the current balance will be used. If the designated date for deduction falls on a weekend and/or holiday, the deduction will not occur until the next scheduled banking day.
Automatic Pre-Authorized Payments. CSG and the third party ACH Originator shall provide electronic fund transfer via ACH debit for both recurring, monthly payments and one-time payments. For recurring, monthly payments, CSG will submit a file to the ACH Originator three days prior to the date the debit is scheduled to take place. Additionally, the Subscriber payment amount submitted to the ACH Originator for recurring, monthly payments will be the statement balance if the statement balance is less than the current balance or if the statement balance is greater than the current balance, then the current balance will be used. For one-time payments, CSG will submit a file to the ACH #10263.21 */**/**** Originator on the date the payment is entered in to the CCS system. Additionally, the Subscriber payment amount submitted to the ACH Originator for one-time payments will be determined by the Subscriber. If the designated date for deduction falls on a weekend and/or holiday, the deduction will not occur until the next scheduled banking day.