Effecting Transactions Sample Clauses
The "Effecting Transactions" clause defines the procedures and requirements for carrying out transactions under the agreement. It typically outlines the steps each party must follow to initiate, confirm, and complete a transaction, such as providing notices, fulfilling documentation requirements, or using specified platforms or methods. This clause ensures that all parties have a clear, standardized process for executing transactions, reducing the risk of misunderstandings or disputes about how transactions should be conducted.
Effecting Transactions. You or the Company (as defined on the Business Debit Card Application) authorize us to pay and withdraw from the Designated Account for all purchases, payments, transfers, and other transactions made or obtained by you or by anyone you authorize to use your Card (and you should not so authorize anyone, as that would constitute a violation of this Agreement), and to charge the Designated Account any related Fees, and to credit the Designated Account for deposits received, whether resulting from physical use of a Card, mail order, or telephone, computer or other electronic transactions made without physically presenting the Card. Subject to any mandatory provisions of applicable law, all debits and credits, relating to this Agreement or any other agreement between Umpqua and you, will be applied to or among the Designated Account as we determine.
Effecting Transactions. 4.1 The Merchant shall forward the Customer’s Transaction order to the Internet Bank, where the Customer has the option of effecting the Transaction.
4.2 Where the order for the effecting of the Transaction meets the terms and conditions stipulated in Annex 1, the Bank shall accept the Customer’s order.
4.3 Where the order for the effecting of the Transaction does not contain the Merchant’s Digital Signature, or there are insufficient funds on the Customer’s account for effecting the Transaction, the Bank shall send the Customer an error notice.
4.4 The Merchant shall not have the right to establish for Customers any restrictions for effecting Transactions without the Bank’s previous consent.
4.5 The Bank shall send to the Merchant a confirmation on the acceptance of the Customer’s Transaction order at the web address indicated in the Transaction order.
4.6 Where the Customer does not effect the Transaction, the Bank shall send to the Merchant a notice of the cancellation of the Transaction at the web address indicated in the Transaction order.
Effecting Transactions