Direct Debit operations Clause Samples

The 'Direct Debit operations' clause defines the procedures and authorizations required for processing payments directly from a payer's bank account to a payee's account. It typically outlines the conditions under which direct debits can be initiated, the responsibilities of both parties, and any notification or consent requirements. For example, it may specify how and when funds will be withdrawn, the process for disputing unauthorized transactions, and the obligations for maintaining sufficient funds. This clause ensures efficient and automated payment collection, reducing administrative burden and minimizing payment delays or defaults.
Direct Debit operations. 4.1. As regards MDD, the Client has the following obligations: (a) to assure in the Current Bank Account the required amount for the full payment (including the related fees) by at least two banking days before the payment deadline set up according to the Client’s agreement with the Beneficiary. No partial payment of an IDD is performed; (b) to assure the accuracy of information regarding the Current Bank Account and the communication of any changes to the Beneficiary; (c) to send the Beneficiary a copy of MDD or a Notification in this sense (including of change/revocation) if the Beneficiary opened his account with a Collecting Institution, other than the Paying Institution. The Client empowers BCR to notify the Beneficiary regarding the MDD conclusion and terms (including as regards MDD change/revocation), if the Paying Institution is identical to the Collecting Institution. (d) To pay all the due amounts before the MDD revocation.
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Direct Debit operations. 82.4.1. In relation to the Direct Debit Mandate, the Customer has the following obligations: (a) to ensure and maintain in the Current Bank Account the amount necessary for making the payment, at least two bank days before the payment deadline established according to the invoice or the payment document sent by the Beneficiary, including the amount necessary for covering the bank commission arising from the provision of such service. No partial payments of a DDI are performed (b) to ensure that all of the information concerning their Current Bank Account are accurate and they accept to communicate to the Beneficiary any amendment thereof (c) to remit to the Beneficiary a copy of the Direct Debit Mandate or of a notification to this effect (including of amendment/revocation), if the Beneficiary has an account opened with a Collection Institution, other than the Paying Institution. The Customer empowers BCR to notify the Beneficiary on the conclusion and the terms of the Direct Debit Mandate (including concerning the modification/revocation of the DDM), if the Paying Institution is identical to the Collection Institution (d) to make the payment by other means of any obligations determined by the contracts that are at the basis of the Direct Debit Mandate, payment obligations that are due until the date when the respective mandate enters into force 82.4.2. The revocation/amendment of the Direct Debit Mandate shall be done based on the following regulations: (a) the Customer may amend the Direct Debit Mandate by the issuance of a new mandate (b) the Customer may revoke/amend the Direct Debit Mandate based on a revocation/amendment order sent to BCR. The disposition to revoke/amend the Direct Debit Mandate causes effects in the Bank Day following its receipt by BCR; it is the Customer’s responsibility to make the payments due to the Beneficiary in the time interval between the Mandate revocation date and the date when the replacing mandate enters into force
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Related to Direct Debit operations

  • Banking Operations Enter into any new material line of business; change its material lending, investment, underwriting, risk and asset liability management and other material banking and operating policies, except as required by applicable law, regulation or policies imposed by any Governmental Authority; or file any application or make any contract with respect to branching or site location or branching or site relocation.

  • Processing operations The personal data transferred will be subject to the following basic processing activities (please specify):

  • Business Operations Company will provide all necessary equipment, personnel and other appurtenances necessary to conduct its operations. Company will conduct its business operations hereunder in a lawful, orderly and proper manner, considering the nature of such operation, so as not to unreasonably annoy, disturb, endanger or be offensive to others at or near the Premises or elsewhere on the Airport.

  • Direct Operation System Agency may temporarily assume operations of a Grantee’s program or programs funded under this Contract when the continued operation of the program by ▇▇▇▇▇▇▇ puts, at risk, the health or safety of clients and/or participants served by Grantee.

  • Management and Operations of Business Except as otherwise expressly provided in this Agreement, all powers to control and manage the business and affairs of the Partnership shall be vested exclusively in the General Partner; the Limited Partner shall not have any power to control or manage the Partnership.