Common use of Means of Processing Transactions Clause in Contracts

Means of Processing Transactions. AFEX may use whatever intermediary banks, payments systems or methods AFEX deems commercially reasonable and appropriate for processing an Order. Client agrees to be bound by applicable law, regulations, clearing house rules or other rules or procedures of any funds transfer or communications system that is used. While AFEX will make every commercially reasonable effort to ensure the timely fulfilment of each Order, AFEX is not responsible for the speed and timing of payment processing by financial institutions or systems beyond the control of AFEX. AFEX is not responsible for any errors or omissions or for any actions that may be taken or not taken, or fees that may be deducted, by any intermediary or correspondent financial institution or by the Beneficiary’s financial institution in association with any Order, including any cancellation or rejection.

Means of Processing Transactions. AFEX may use whatever intermediary banks, payments systems or methods AFEX deems commercially reasonable and appropriate for processing an Order. Client agrees to be bound by applicable law, regulations, clearing house rules or other rules or procedures of any funds transfer or communications system that is used. While AFEX will make every commercially reasonable effort to ensure the timely fulfilment of each Order, AFEX is not responsible for the speed and timing of payment processing by financial institutions or systems beyond the control of AFEX. AFEX is not responsible for any errors or omissions or for any actions that may be taken or not taken, or fees that may be deducted, by any intermediary or correspondent financial institution or by the Beneficiary’s financial institution in association with any Order, including any trace, cancellation or rejection.