Common use of Incoming Transactions Clause in Contracts

Incoming Transactions. All funds transfers or deliveries of any payment instrument(s) received by us after our daily cut-off time on a Business Day, or received on a day that is not a Business Day, will be treated and recorded as if received on the next Business Day. For any funds received by us in a currency other than those approved to be held in your Account pursuant to Section 3.1, we reserve the right to convert such foreign currency to USD at our prevailing rates if an exchange rate has not been predetermined and we have been unable to agree upon an exchange rate within a commercially reasonable period of time. We do not accept cash deposits. Any cash deposits sent by mail will be rejected. We are not liable for any deposits, including cash, lost in the mail, lost in transit, or otherwise not received by us. We reserve the right to withhold payment on all incoming Drafts until we are satisfied that we have received cleared funds. If any Draft you sell to us is subsequently recalled or returned, you hereby agree to indemnify us for such amount and for any costs or expenses we incur, including foreign exchange losses or charges, in handling the Draft.

Incoming Transactions. All funds transfers or deliveries of any payment instrument(s) received by us after our daily cut-off time on a Business Day, or received on a day that is not a Business Day, will be treated and recorded as if received on the next Business Day. For any funds received by us in a currency other than those approved to be held in your Account pursuant to Section 3.1, we reserve the right to convert such foreign currency to USD CAD at our prevailing rates if an exchange rate has not been predetermined and we have been unable to agree upon an exchange rate within a commercially reasonable period of time. We do not accept cash deposits. Any cash deposits sent by mail will be rejected. We are not liable for any deposits, including cash, lost in the mail, lost in transit, or otherwise not received by us. We reserve the right to withhold payment on all incoming Drafts until we are satisfied that we have received cleared funds. If any Draft you sell to us is subsequently recalled or returned, you hereby agree to indemnify us for such amount and for any costs or expenses we incur, including foreign exchange losses or charges, in handling the Draft.