Issuance of Payment Orders. (1) Upon entering into the Contract, unless it is cancelled by the Bank pursuant to Article 4, Paragraph (3), the Bank shall issue a payment order to the Banks Concerned without delay in accordance with the content of the request.
Issuance of Payment Orders. Customer may issue Payment Orders orally, by secure e-mail, by fax, or in writing. Payment Orders may only be executed on a “Business Day” which is Monday through Friday, excluding Federal holidays. Payment Orders received before the cut-off time established by Bank will be processed on the same Business Day. Payment Orders received on a non-Business Day or after the cut-off time on a Business Day will be treated as being received on the next Business Day. The funds transfer cut-off time is published by the Bank and available on its Website xxx.xxxxxx.xxx, and is subject to change. Customer acknowledges that the Bank shall have no obligation to ascertain the identity of the beneficiary or the beneficiary’s bank and sha ll have the right to reject any Payment Order that does not identify the account number and address of the beneficiary and the identifying number of the beneficiary’s bank. Customer further acknowledges that Bank is not responsible for detecting any Customer error contained in any Payment Order sent by the Customer to the Bank. Bank may, at its option, record electronically all telephonic instructions received by Bank from Customer without further notification and may retain such recordings for any period of time selected by Bank. Customer consents to the recording of such telephone conversations. The decision of whether to record a particular conversation is within the Bank’s discretion, and the Bank has no liability for failure to record.
Issuance of Payment Orders. The Customer may initiate a wire transfer by issuing a payment order to the Bank instructing the Bank to execute the funds transfer. The Customer shall issue payment orders during Bank’s normal business hours Monday through Friday, excluding holidays, prior to the cut-off time established by Bank. The Customer may issue the payment order utilizing telephonic, fax, oral, or written communication, or by any electronic means acceptable to Bank. The individuals listed on Schedule A (Wire Transfer Authorization), including any amendments of supplements thereto from time to time and individuals otherwise authorized by the Customer to issue payment orders initiating funds transfers from the Customer’s account, are hereinafter referred to as Authorized Representatives.
