Consumer Entries; Corporate Payments; IAT Entries Sample Clauses

Consumer Entries; Corporate Payments; IAT Entries a. Company will obtain authorization for Prearranged Payment or Deposit ("PPD") Entries in accordance with the Rules and U.S. law. Company will retain a record of the authorization for a period of two (2) years from the termination or revocation of the authorization. Company will provide written notification to the Receiver ten (10) calendar days in advance if the amount of the Entry varies from the previous one, unless the authorization indicates variable amounts. Company will provide written notification to the Receiver seven (7) calendar days in advance of the new debit date if the date of the debit changes. Bank will provide reporting information to NACHA for Company regarding Entries whose return rate for unauthorized PPD Entries exceeds the current threshold as required by the Rules.
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Related to Consumer Entries; Corporate Payments; IAT Entries

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