Cancelling Scheduled Transfers Clause Samples
The "Cancelling Scheduled Transfers" clause defines the process and conditions under which a party may cancel a previously arranged transfer of funds or assets. Typically, this clause outlines the required notice period, acceptable methods for submitting a cancellation request, and any potential fees or restrictions associated with the cancellation. For example, it may specify that cancellations must be made in writing at least 24 hours before the scheduled transfer date. The core function of this clause is to provide a clear and predictable mechanism for halting scheduled transactions, thereby reducing confusion and potential disputes between parties.
Cancelling Scheduled Transfers. In general, External Transfers (either one-time or recurring) can be cancelled prior to the cut-off time (3:30 PM Eastern Time) on the business day they are scheduled to be processed. However, if the External Transfer's status is approved, you can no longer can- cel it. Immediate transfers cannot be cancelled via the Service once the transfer has been processed. You waive all liability or damages for any payment made before we have a reasonable op- portunity to act on your termination notice.