Common use of Irrevocability of a Payment Order Clause in Contracts

Irrevocability of a Payment Order. In accordance with article 5.1, a payment Order effectively issued by an Account Holder is irrevocable once the single-use code has been entered, after which the Account Holder cannot request its cancellation. It is hereby specified that the Account Holder may initiate a batch Order, including a transfer of funds by card (initiated in compliance with article 4.1 above) and a payment Order by transfer to the Payment Account of the Beneficiary selected on a given date. As explained in article 4.1, the payment Order will be deemed irrevocable as soon as the card details have been entered.

Appears in 4 contracts

Samples: Payment Services Framework Agreement, Payment Services Framework Agreement, Payment Services Framework Agreement

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