Funds Settlement Clause Samples
The Funds Settlement clause defines the procedures and timing for transferring and clearing payments between parties under an agreement. It typically outlines when payments are due, the acceptable methods of payment, and any conditions that must be met for funds to be considered settled, such as confirmation of receipt or clearance by a financial institution. This clause ensures that both parties have a clear understanding of their financial obligations and helps prevent disputes over payment timing or methods, thereby facilitating smooth and predictable financial transactions.
Funds Settlement. Transact, through its subcontractors, will complete its Transaction Processing and Funds Transfer settlement obligations by (i) collecting from Campus Cash Merchant accounts all applicable Merchant Discount Fees; (ii) paying the Royalty owed to Customer into Customer's account.
Funds Settlement. Upon receipt of each End-Of-Day Batch message, ▇▇▇▇▇▇▇ will settle into the Merchant Account the total dollar amount due Merchant for all completed Transactions processed by Merchant in accordance with this Agreement and identified in that End-Of-Day Batch Message. It is the Merchant’s responsibility to ensure batches are sent to Moneris daily.
Funds Settlement. The business expenses incurred in the agency services under this Agreement shall be charged by Party B to the customer and settled in the manner agreed by China Unicom’s fund collection service. For details of the settlement process, please refer to Annex 2 to this Agreement “China Unicom Agency Funds Collection Service and Customer Acceptance Agreement”.
Funds Settlement. (i) Settlement of funds between the Agent and the Lender shall in principle be made through theZengin Data Telecommunication System, and if the Lender wishes to make settlement through the Bank of Japan Financial Network System, such Lender shall consult with the Agent in advance. However, if the Lender is not a member of the Zengin Data Telecommunication System, the funds shall be settled through a bank account under the name of the Lender at a bank that is a member of the Zengin Data Telecommunication System as designated by the Lender.
(ii) Any fees, etc. for payments made by any party hereto to any other party hereto pursuant to this Agreement shall be borne by the paying party.
Funds Settlement. Upon receipt of each End-Of-Day Batch message, HMS will settle into the Merchant Account the total dollar amount due Merchant for all completed Transactions processed by Merchant in accordance with this Agreement and identified in that End-Of-Day Batch Message. It is the Merchant’s responsibility to ensure batches are sent to HMS daily.
Funds Settlement. Client provides to USP bank account and routing number for settlement of payments