Payment Processing and Information Transfer Clause Samples
The Payment Processing and Information Transfer clause governs how payments are handled and how related information is exchanged between parties. It typically outlines the methods of payment, timing, and any required documentation or data sharing necessary to complete transactions, such as providing bank account details or confirming receipt of funds. This clause ensures that both parties understand their obligations regarding payment logistics and information flow, reducing the risk of disputes or delays in financial transactions.
Payment Processing and Information Transfer. FIS has the responsibility to maintain its software and to process and transmit all payment transactions with one hundred percent (100%) accuracy, no later than the agreed upon transmission time, subject to exclusions and excused events in accordance with this Exhibit B. (PID # 224877) Page 8 of 9 ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** Initial implementation cost for Pioneer will be *****and is included in the fixed implementation fees as described in SOW 01 – Implementation Services. Additional units in future can be setup at implementation price mentioned above. (PID # 224877) FIS initials & date: _____________________ Client initials & date: _____________________ Page 9 of 9 This Schedule C – Virtual Back-Office (VBO) with AutoSuite Services (“Schedule C”) to the Master Services Agreement between Pioneer Financial Services, Inc. of Kansas City, Missouri (“Client”) and Fidelity Information Services, LLC (“FIS”) is made effective as of the Services Effective Date stated in the Agreement. The Term of this Schedule is as defined in the Agreement. By entering into this Schedule C under the Agreement, Client has engaged FIS to provide the use of FIS’s Virtual Back-Office (VBO) services (“VBO Services”) and ASP Services (as defined below), utilizing the FIS AutoSuite Automotive Finance core servicing platform hosted by FIS for Client. Additionally, FIS will host FIS AutoSuite Default Manager for Client to use within their own collection department. Client’s use of the foregoing shall be referred to in this Schedule as the (“Consumer Finance Processing Services” or “Services”) which are as more particularly described in this Schedule, for the fees and charges and upon the terms and conditions set forth below and in the exhibits to this Schedule. Unless otherwise defined herein, capitalized terms used in this Schedule C shall have the meaning assigned to them in the Agreement. The following exhibits are incorporated under this Schedule: • Exhibit A – ASP Hosted Applications • Exhibit B – Service Levels for VBO AND ASP Hosted Applications • Exhibit C – Charges