Common use of Execution Times Of Outward Payments Clause in Contracts

Execution Times Of Outward Payments. i. Provided that the Payment Order does not lack any necessary details or documentation as outlined below, when the Account Holder effects a Payment Order before 15:00 Central European Time (‘Cut- Off Time’) we will process the Payment Order on that same day. Payment Orders which are affected on a day which is not a Business Day or received after the Cut-Off Time, will be processed on the next Business Day. ii. In accordance with legal obligations, Finductive might request additional details and documentation to support and verify outward payments if it deems it fit to do so. In the event that Finductive is not satisfied with the documentation requested, or if the Account Holder fails to comply with Finductive’s request within five (5) Business Days from such request, the funds will not be transferred. Finductive shall not be held responsible for any loss directly or indirectly suffered by the Account Holder in such a scenario. iii. Payment Orders shall be processed by no later than the following Business Day on which the Payment Order was submitted by the Account Holder on the Platform. Provided that this shall not apply to Payment Transactions which need to be verified in accordance with clause 4.2.6 (ii) above.

Execution Times Of Outward Payments. i. Provided that the Payment Order does not lack any necessary details or documentation as outlined below, when the Account Holder effects a Payment Order before 15:00 Central European Time (‘Cut- Cut‐ Off Time’) we will process the Payment Order on that same day. Payment Orders which are affected on a day which is not a Business Day or received after the Cut-Off Cut‐Off Time, will be processed on the next Business Day. ii. In accordance with legal obligations, Finductive might request additional details and documentation to support and verify outward payments if it deems it fit to do so. In the event that Finductive is not satisfied with the documentation requested, or if the Account Holder fails to comply with Finductive’s request within five (5) Business Days from such request, the funds will not be transferred. Finductive shall not be held responsible for any loss directly or indirectly suffered by the Account Holder in such a scenario. iii. Payment Orders shall be processed by no later than the following Business Day on which the Payment Order was submitted by the Account Holder on the Platform. Provided that this shall not apply to Payment Transactions which need to be verified in accordance with clause 4.2.6 (ii) above.