Current Account Sample Clauses
Current Account. The Parties shall allow, in freely convertible currency and in accordance with the Articles of Agreement of the International Monetary Fund, any payments and transfers of the Current Account between the Parties.
Current Account. 4.1. The Client may hold one or more multicurrency accounts with the Bank.
4.2. For effecting operations from the account(s), the Client will be assigned the IBAN (Interntional Bank Account Number) account number - a 22 digit number registered in accordance with the international standards;
4.3. The Client’s account(s) shall be opened upon submission to the Bank of the Client’s relevant application and the documents requested by the Bank. The Client shall be responsible for completeness and authenticity thereof.
4.4. The Client consents that the Bank may open additional account(s) in compliance with the rules and procedures established by the Bank on the grounds of the e-application provided that the Client already holds an account with the Bank.
4.5. Monetary resources can be credited to the Client’s account by means of cash or clearing.
4.6. Upon registration of the Client with the Public Registry National Agency, on the grounds of an e-application and on consent of the client’s authorized person, the Bank shall be entitled to open an account to the client. Before appearance of the client’s authorized representative and submission of the documents requested by the Bank, the Bank shall only be entitled to enter sums to the client’s account (transfer a sum from the current account to the term deposit account). Unless within 30 days from opening the account the client’s authorized representative submits the documents requested by the Bank, the account shall be closed and the sums in it shall be returned to the client.
4.7. The Bank shall ensure that the sum(s) deposited and/or credited to the Client’s accounts including transfer of 10 000 (ten thousand) GEL/its equivalent in a foreign currency or more are posted no later than the next banking day from submission of the Client’s relevant order and/or within the term stipulated in the laws.
4.8. Generally, the sums in the Client’s account(s) shall be written off at its order, request and permission in the way specified in this Contract. The Client acknowledges that without its request, the Bank is not obliged to write off sums from the Client’s account(s) for the purpose of fulfillment of any of its obligations
4.9. Partial fulfillment of a payment order shall not be acceptable;
4.10. For the purpose of writing off the funds from the Client’s account(s), the Bank shall effect operations on the basis of electronic or printed payment documents submitted by the Client during the business day; the Client’s orders...
Current Account. (a) Definition: It is an interest - free call deposit account (Qard Hassan), that is governed by the rules applied to loans with respect to guarantee to repay an equal amount on demand. it does not participate in investment profit nor bear risks.
(b) Persons entitled to open current account: Any person may open a current account if he/she is UAE national or legally resident in the UAE according to the regulations and instructions of the Central Bank and these terms and conditions.
Current Account. The Administrative Agent shall deposit into the Current Account (i) Additional Borrowing Amounts pursuant to Section 4.2(b)(ii) and (ii) amounts on deposit in the Revenue Account as specified in Section 8.12(a).
Current Account. Without prejudice to other provisions of this Agreement, each Party shall allow, in freely convertible currency and in accordance with the provisions of the Articles of the Agreement of the International Monetary Fund, as applicable, any payments and transfers with respect to transactions on the current account of the balance of payments that fall within the scope of this Agreement.
Current Account. (a) Prior to the Conversion Date, the Additional Borrowing Amounts shall be deposited into the Current Account. The Administrative Agent shall pay, from and to the extent of cash available in the Current Account and as set forth in a certificate of the Company delivered to the Administrative Agent, to the Company for the benefit of the Persons entitled thereto, amounts requested by the Company for the payment of Project Costs.
(b) The Administrative Agent shall pay, from and to the extent of cash available in the Current Account and as set forth in a certificate of the Company delivered to the Administrative Agent, directly to the Company for the benefit of the 141 Persons entitled thereto, all other Operating Expenses previously identified in the most recently delivered Expense Certificate which are then due and owing.
Current Account a. The Customer confirms that the Customer has not been reported by any bank to the credit bureau set up by Bank Negara Malaysia, and acknowledges that the Bank has the right to close the account if the Customer is so reported and the Bank in good faith believes it negatively impacts the Customer’s credit rating.
b. The Customer is required to check upon receipt, that: • the Customer has received the correct number of cheque books; • each cheque book has the correct number of cheque leaves; • account details printed are correct; and • to read and carry out all the instructions set out in the inside covers of cheque book;
c. The Customer agrees to keep the cheque book secure and under the Customer’s sole control at all times. If the Customer fails to do so, the Bank shall not be liable for any misappropriation of the cheques.
d. The Customer agrees not to write cheques in a way which may allow the cheque to be tampered with or facilitates fraud, and to take precautionary measures such as, but not limited to: • using only non-erasable ink (not erasable ballpoint pens, pencils, electronic typewriter or any other instruments); • not leaving signed or unsigned cheques unattended; • not pre-signing cheques in blank; and • destroying completely spoilt cheques; failing which no liability shall be attached to the Bank.
e. The Customer agrees: • not to write any notations on the face of a cheque, and if any are written, the Bank has the right to ignore the notations without being liable to the Customer; and • not to make any changes on a cheque, and the Bank has the right to dishonour and return a cheque which the Bank views as having any changes, even if countersigned by the authorised signatories.
f. The Customer agrees not to issue cheques when there are insufficient funds in the account. Penalty charges for returned cheques due to insufficient funds as stated for the time being in the Bank’s Tariff and Charges which can be viewed at the Bank’s website will be charged and debited to the account.
g. The Customer acknowledges that a stop payment instruction may only be carried out if the cheque has not been presented for payment, and once carried out, cannot be reversed and: • the words “stop payment” will be stamped on the cheque; • re-presentation of the cheque is not allowed; and • handling fees and penalty charges (if the account has insufficient funds for the cheque) will be charged and debited to the account.
Current Account. For Returns Order to be issued and honored, Client’s Accounts with Secarus must be current.
Current Account. 4.1. The Parties explicitly agree to create between them an indivisible current account (the “Current Account”), in which all claims from one Party against the other arising from the present Agreement or based on any other grounds will be settled.
4.2. If the Client needs to have several financing accounts at its disposal, these shall be deemed to be sub-accounts of the single, indivisible Current Account between the Client and the Factor. The Factor shall always have the possibility to offset any debit and credit balances in these sub-accounts / financing accounts with each other, even after bankruptcy of the Client or in case of any other form of concurrence.
4.3. Any setoff in the Current Account shall take place after deduction of the Factoring Fee, the Interest Rates, the Costs and any other expenses made by the Factor that are due by the Client.
4.4. Upon termination of the present Agreement, the credit balances are transferred to the Client upon settlement of the Current Account and after deduction of any possible amounts due (Factoring Fee, Interest Rates, Costs and any other expenses made or to be made by the Factor that are due by the Client).
Current Account. 1.1. Current Account is a non-interest-bearing accounts opened in IBAN (International Bank Account Number) format for Customer (IBAN Account) which allows execution of payment transactions. Accounts may be opened by all categories of Customers i.e., Individual Customer, Freelance Customer or a Business Customer. Where specifically stated, certain terms included in these GTC apply only to one or more of these categories of Customer and Customers should pay due regard