Common use of Cancellation of Payment Orders Clause in Contracts

Cancellation of Payment Orders. The Credit Union is not obligated (and is not liable for its failure) to cancel or amend a Payment Order after its receipt by the Credit Union. The Credit Union will, however, make reasonable etforts to comply with your request to cancel or amend a Payment Order. Any request for cancellation or amendment must be made in compliance with the Security Procedure. If International wires are otfered through the online channel, a Member sending an international wire transfer may request the cancellation of the wire transfer, no later than thirty (30) minutes after the Member makes payment of the wire transfer, by providing the Credit Union an oral or written cancellation request that permits the Credit Union to identify the Member and specific wire transaction and the transferred funds have not been picked up by or deposited to the account of the designated recipient. You will indemnify and hold the Credit Union harmless from any and all liabilities, costs and expenses the Credit Union may incur in canceling or amending, or in attempting to cancel or amend, a Payment Order.

Cancellation of Payment Orders. The Credit Union is not obligated (and is not liable for its failure) to cancel or amend a Payment Order after its receipt by the Credit Union. The Credit Union will, however, make reasonable etforts efforts to comply with your request to cancel or amend a Payment Order. Any request for cancellation or amendment must be made in compliance with the Security Procedure. If International wires are otfered offered through the online channel, a Member sending an international wire transfer may request the cancellation of the wire transfer, no later than thirty (30) minutes after the Member makes payment of the wire transfer, by providing the Credit Union an oral or written cancellation request that permits the Credit Union to identify the Member and specific wire transaction and the transferred funds have not been picked up by or deposited to the account of the designated recipient. You will indemnify and hold the Credit Union harmless from any and all liabilities, costs and expenses the Credit Union may incur in canceling or amending, or in attempting to cancel or amend, a Payment Order.