Common use of Payments by Electronic Funds Transfer Clause in Contracts

Payments by Electronic Funds Transfer. Section 51.012, Texas Education Code, authorizes UTSA to make any payment through electronic funds transfer methods. Performing Party agrees to receive payments from UTSA through electronic funds transfer methods, including the automated clearing house system (also known as ACH). Prior to the first payment under the Agreement, UTSA will confirm Performing Party banking information. Any changes to Performing Party banking information must be communicated to UTSA in writing at least thirty (30) days in advance of the effective date of the change. The following two sections apply only to Evaluators signing this Agreement.

Payments by Electronic Funds Transfer. Section 51.012, Texas Education Code, authorizes UTSA to make any payment through electronic funds transfer methods. Performing Party agrees to receive payments from UTSA through electronic funds transfer methods, including the automated clearing house system (also known as ACH). Prior to the first payment under the Agreement, UTSA will confirm Performing Party banking information. Any changes to Performing Party banking information must be communicated to UTSA in writing at least thirty (30) days in advance of the effective date of the change. The following two sections apply only to Evaluators signing this Agreement.