Common use of Fixing the Request Clause in Contracts

Fixing the Request. (i) If the confirmation reply in (2) above reaches the Bank, the Request shall be fixed as of that time. (ii) With respect to Transfer of Funds within the Bank, Transfer of Funds to Time Deposit, Transfer of Funds to 2 Weeks Maturity Deposits, Special Deposit Transfer Transactions, Card Loan Borrowing and Repayment Transactions, the procedures for debit and credit shall be conducted on the date the reply in (2) above reaches the Bank. Provided, however, that where the transfer is not made between the same accounts if the response reaches the Bank after the time limit designated by the Bank for conducting procedures, the transfer shall be made on the immediately following business day (limited to days when the Zen-Gin Domestic Transfer System is operating). In such case, no interest shall accrue on the funds withdrawn. (iii) With respect to transfer of funds out of the Bank, if the response in (2) above reaches the Bank within the designated hours for accepting transactions to be processed on that day the transfer procedures shall be assumed to have occurred on the same day. Furthermore, if the response in (2) above reaches the Bank after the designated hours for acceptance for processing the transactions on that day, the electronic notice for transfer shall be processed as of the immediately following business day (limited to days when the Zen-Gin Domestic Transfer System is operating). In such a case, no interest shall accrue on the funds withdrawn on the date the response reaches the Bank. (iv) With respect to transfers of funds within the Bank, the Request for cancellation or alteration may not be accepted after the contents of the Request are fixed. Provided, however, that the Request may be withdrawn if the transferee account is an account within the Bank or if the request is received before the Bank begins procedures for transfer. Please note that, unwinding procedures cannot be conducted using the Service.