Common use of Delivery Timeframes Clause in Contracts

Delivery Timeframes. All ACH Credit Entries should be completed/authorized at least two (2) Business Days prior to the “Effective Date” of the transactions. All ACH Debit Entries should be completed/authorized at least one (1) or two (2) Business Days prior to the “Effective Date” of the transactions. If the transactions are not completed/authorized by the required timeframe, the Bank cannot guarantee the transactions will be accepted by ACH processors, or be received/posted on the “Effective Date” by the recipient's financial institution. The Bank may accept these items and they will be forwarded to the ACH processor no later than the Bank’s next regularly scheduled delivery time. All ACH Credit originations represent financial obligations, thus the Bank may reject any Entry if Customer has failed to comply with its account balance obligations as set forth herein. The balance showing in the System associated with the account designated as the settlement account for the Entries must be sufficient to cover the total originations on the Delivery date as described above. If the settlement account does not have sufficient funds at that time, the Bank may, without any liability, deny, reject or process the Entries. If the entries are processed, Customer is still obligated to pay the Bank for the Entries.