Processing of Payments. All payments hereunder shall be made in U.S. dollars to IM. All payments due to IM under this Agreement shall be made by bank wire transfer as follows: [*] Routing & Transit #: [*] SWIFT CODE : [*] For credit of: [*] Credit account #: 3[*] By order of: [*] or another U.S. bank account designated in writing by IM. All payments not paid when due shall bear simple interest at a rate of [*] per month or the highest rate allowed by law, whichever is less. Unless expressly stated in Section 6.1, 6.2 or 6.12, payments shall be made 45 days after invoicing.
Processing of Payments. A. The Merchant hereby authorizes CirrusPOS to hold, receive and disburse funds on its behalf and to access the Bank Account (as defined in the Order) to effectuate payment to CirrusPOS of any Fees, and for Merchant to receive any Net Sales Proceeds. Merchant’s authorization hereunder thereby grants CirrusPOS permission to generate a paper draft or an electronic funds transfer to process each Payment transaction authorized by Merchant. Merchant’s authorization under this section shall remain in full force and effect throughout the duration of the Term.
B. CirrusPOS works with a variety of card issuers. CirrusPOS may elect to support additional card issuers at its discretion. CirrusPOS will only process cards which receive an authorization from the applicable processing network or card issuer.
C. In the event that the Merchant has not provided goods or services consistent with this Agreement with respect to a particular transaction(s), CirrusPOS will have the right to refuse to pay any Net Sales Proceeds to Merchant and/or to pay a refund to any customer from the Bank Account. CirrusPOS reserves the right to adjust the Net Sales Proceeds due for any period to compensate CirrusPOS for any chargebacks, calculation errors, Merchant employee fraudulent use, and any refunds paid to customers, whether or not related to the period on which such adjustment is made, or to offset against such Net Sales Proceeds any other claim CirrusPOS may have arising hereunder.
D. After the Merchant’s Bank Account information has been verified, CirrusPOS will automatically deposit the Net Sales Proceeds collected to Merchant’s Bank Account via direct deposit. This deposit will normally appear in the Bank Account within 1-2 business days after payment settlement is initiated. It is Merchant’s sole responsibility to initiate settlement of its payments in a timely manner through the Services. Merchant’s failure to settle payments in a timely manner may result in higher processing rates charged by the card processing networks and CirrusPOS reserves the right to reclaim such charges and fees from Merchant.
E. In the event that CirrusPOS must conduct an investigation or resolve any pending dispute related to Merchant’s Bank Account, CirrusPOS may defer payout or restrict access to Merchant’s funds for the entire time it takes for CirrusPOS to complete its investigation or resolve the dispute. CirrusPOS also may defer payout or restrict access to Merchant funds as required by applicable ...
Processing of Payments. (a) You must notify us as soon as possible in respect of any changes to your billing and account information.
(b) You acknowledge that Fees are processed via a third party payment processing services and will be subject to the applicable terms and conditions offered by such third party.
Processing of Payments. Payments are credited to the payee(s) account according to the receiving bank’s ACH processing schedule and may take, at a minimum, two business days to process. When you send money, the payee is not required to accept it. You agree that you will not hold Allegiance Bank liable for any damages resulting from actions of the payee’s bank or a payee's decision not to accept a payment made through the Service. If a payment is unclaimed, denied or refunded for any reason, we will return the money to your Account once the funds are returned or otherwise received.
Processing of Payments. The Stripe connected account agreement, which includes the stripe services agreement, governs the payment processing services stripe provides to merchants on our company platform. The stripe-connected account agreement and the stripe services agreement, as they may be updated from time to time by stripe, are the agreements that the Merchant is consenting to be bound by when accepting these terms. Our company must have accurate and complete information about the Merchant's representative and its business before it will enable payment processing services through stripe. In addition, our company must have permission from the Merchant to share this information as well as transaction data related to the Merchant's use of Stripe's payment processing services. A PCI-certified auditor conducted an audit of stripe, which resulted in PCI service provider certification.
Processing of Payments not made via electronic funds credit transfers through the ACH network may be delayed. CLEC is responsible for ensuring that all payments are received by SBC-12 STATE by the applicable due date. CLEC’s failure to ensure payments are received by SBC-12 STATE by the applicable due date will result in the imposition of Late Payment Charges.
Processing of Payments. MicroVentures will make reasonable efforts to ensure that requests for electronic debits and credits involving bank accounts are processed in a timely manner, but MicroVentures makes no representations or warranties regarding the amount of time needed to complete processing because our Services are dependent upon many factors outside of our control, such as delays in the banking system.
Processing of Payments. For Members under Consolidated Billing, they may have chosen Budget Billing, a Payment Arrangement or Summary Billing, if available; the Supplier hereby authorizes the Cooperative to process payments and apply monies in accordance with this Agreement. If a Member pays the Cooperative less than the full amount billed, the Cooperative shall apply the payment first to amounts owed for all charges not Energy Service related, and if any balance remains, the Cooperative shall apply it to amounts owed for Energy Service including any returned check charges. Before the close of a Business day, the Cooperative shall notify the Supplier of any payments posted on the previous Business day. The Cooperative will transfer payments to the Supplier by way of Automated Clearing House (ACH) weekly and provide payment transaction reports weekly. The ACH payment will follow the normal accounts payable payment schedule established by the Cooperative. Typical Cooperative scheduling, for all payments received through the last business day of a week would be paid through ACH to the Supplier by the end of the seventh business day.
Processing of Payments. For Members under Consolidated Billing which may have chosen Budget Billing, or may have chosen Summary Billing, if available, or may have entered into a Payment Arrangement; the Supplier hereby authorizes the Cooperative to process payments and apply monies in accordance with this Agreement. If a Member pays the Cooperative less than the full amount billed, the Cooperative will follow a payment hierarchy in the accounting for monies received. The following payment priorities will apply to all monies received:
1. Outstanding deposits
2. Current payment arrangements
3. Budget billing
4. Cooperative and Supplier aged accounts receivables, with priority for Cooperative aged receivables
5. Cooperative and Supplier current charges, with a priority for Cooperative current charges (this will include returned check charges)
6. Any miscellaneous non-electric service product or services. Before the close of a Business day, the Cooperative shall notify the Supplier of any payments posted on the previous Business day. The Cooperative will transfer payments to the Supplier by way of Automated Clearing House (ACH) weekly and provide payment transaction reports weekly. The ACH payment will follow the normal accounts payable payment schedule established by the Cooperative. Typical Cooperative scheduling, for all payments received through the last business day of a week would be paid through ACH to the Supplier by the end of the seventh business day.
Processing of Payments. Prior to the processing of any and all payments to the Consultant pursuant to this Contract, compliance with Woodbury Finance Department regulations on the completion and filing of W-9 forms and other IRS and Minnesota Department of Revenue taxing forms is required.
