Canceling and Amending Payment Orders Sample Clauses

Canceling and Amending Payment Orders. If Company wishes to cancel or amend a payment order previously transmitted to F&M BANK, Company must transmit notice of the requested cancellation or amendment and must include the amount and recipient of the payment order in the notice. F&M BANK will make a reasonable effort to comply with any request by Company to cancel or amend a payment order that is made before F&M BANK’s acceptance of that payment order, but only if F&M BANK’s Wire Transfer Department has been given sufficient notice and a reasonable opportunity to act on it. F&M BANK shall have no obligation or duty to cancel or amend a payment order received from Company after F&M BANK accepts the payment order. If F&M BANK consents to cancel or amend an accepted payment order, Company shall indemnify and hold F&M BANK harmless for all loss and expense, including attorney’s fees, relating to the cancellation and amendment or attempted cancellation and amendment. Federal regulations require that F&M BANK include certain information about Company in any funds transmittal order by Company, including Company’s true name and street address. F&M BANK’s system will include Company’s street address contained in its account records unless no such address is on record, in which case F&M BANK will include the street address provided by Company in the Implementation Form for this Service. Company agrees to promptly notify F&M BANK of any changes or corrections to Company’s information maintained by F&M BANK, including Company’s street address. Company agrees that, upon and by requesting any transfers of funds through this Service, Company has verified that the information about Company that is maintained by F&M BANK is both accurate and complete. NOTHING CONTAINED IN THIS AGREEMENT SHALL OBLIGATE F&M BANK TO ACCEPT, PROCESS OR EXECUTE ANY PAYMENT ORDER OR ANY AMENDMENT OR CANCELLATION THEREOF. F&M BANK SHALL ONLY BE DEEMED TO HAVE ACCEPTED A PAYMENT ORDER OR ITS AMENDMENT OR CANCELLATION UPON ITS EXECUTION THEREOF.
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Related to Canceling and Amending Payment Orders

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