Direct Debit / Standing Order. 9.1 When requesting a Direct Debit / Standing Order, the client gives the Bank an order (material or electronic) to write-off an amount from the account(s) of the client and transfer it to a relevant account(s) for the purpose of paying for utility services or for other purposes, from one or several bank accounts of the client, on the date(s) determined by the client, without subsequent consent from the client.
9.2 The client is entitled to choose a particular or variable date for carrying out the order, the amount of the order can be both fixed or variable.
9.3 The parties agree that for carrying out a Direct Debit / Standing Order, the electronic payment certificate(s) created by the Bank shall have a legal force equaling those printed on paper and signed by the person authorized to dispose the account.
9.4 A Direct Debit / Standing Order by the Bank shall be effected only if there are sufficient funds available in the account. A partial transfer shall not be effected by the Bank.
9.5 The priority of a Direct Debit / Standing Order is determined according to the initial registration date/time of the order.
9.6 The client is committed to indicate the particular account, while using a Direct Debit / Standing Order, from where the transfer shall be made and shall always keep balance at the indicated account sufficient for Direct Debit / Standing Order, taking into account the commission fee, in the respective currency. Furthermore, the client agrees to allow the Bank to use the available balance of the overdraft from the respective account in case of an absence of sufficient funds. In such a case, the interest rate shall be accrued to the used overdraft amount determined by the relevant agreement.
9.7 The client acknowledges that in order to make changes to the existing order, it is necessary to cancel the registered order and register a new order.
9.8 The client is authorized to cancel an order issued to the Bank no later than the banking day prior to enforcing the order.
9.9 The client is entitled to receive information about Direct Debit / Standing Order transfers made from their account by means of communications determined by the present agreement.
9.10 The Bank is entitled not to make a Direct Debit / Standing Order transfer (settlement) in cases envisaged by the effective legislation of Georgia or in case of indebtedness to the Bank.
9.11 The Bank sends the client information on the status of Direct Debit / Standing Order transfers (completed, imposs...
Direct Debit / Standing Order regular payments/transfers from the client’s account by the Bank on the basis of the client’s payment order;
