Common use of Receiver Authorization Clause in Contracts

Receiver Authorization. CUSTOMER agrees to obtain authorization from Receivers pursuant to the requirements of the Rules prior to debiting or crediting Receivers’ accounts. CUSTOMER must retain the original or a copy of each written authorization of a Receiver, or a readily and accurately reproducible record (as such term is defined in the Rules) evidencing any other form of authorization, for two years from the termination or revocation of the authorization. CUSTOMER represents and warrants with respect to all Entries originated by CUSTOMER and processed by PROCESSOR for CUSTOMER that (1) each Receiver has authorized the debiting and/or crediting of its account, (2) each Entry is for an amount agreed to by the Receiver, (3) appropriate authorization methods for different Standard Entry Class (SEC) codes are used, as may differ in Nacha Rules; and (4) each Entry is in all other respects properly authorized. CUSTOMER agrees to indemnify PROCESSOR and the ODFI, including their directors, officers, employees, and affiliates, for any claims, demands, losses, liabilities, costs, or expenses suffered or incurred (including attorneys’ fees and costs) relating to, arising out of, or involving any breach of these representations and warranties. CUSTOMER must provide a valid copy of the Proof of Authorization (POA), if requested by PROCESSOR, within two (2) banking days. Failure to provide a valid and compliant POA or not providing one within the timeframe will result in a permissible return of the transaction, and a subsequent debit to the CUSTOMER’s account or settlement proceeds.

Receiver Authorization. CUSTOMER agrees to obtain authorization from Receivers pursuant to the requirements of the Rules prior to debiting or crediting Receivers’ accounts. CUSTOMER must retain the original or a copy of each written authorization of a Receiver, or a readily and accurately reproducible record (as such term is defined in the Rules) evidencing any other form of authorization, for two years from the termination or revocation of the authorization. CUSTOMER represents and warrants with respect to all Entries originated by CUSTOMER and processed ACH Origination Terms and Conditions by PROCESSOR for CUSTOMER that (1) each Receiver has authorized the debiting and/or crediting of its account, (2) each Entry is for an amount agreed to by the Receiver, (3) appropriate authorization methods for different Standard Entry Class (SEC) codes are used, as may differ in Nacha Rules; and (4) each Entry is in all other respects properly authorized. CUSTOMER agrees to indemnify PROCESSOR and the ODFI, including their directors, officers, employees, and affiliates, for any claims, demands, losses, liabilities, costs, or expenses suffered or incurred (including attorneys’ fees and costs) relating to, arising out of, or involving any breach of these representations and warranties. CUSTOMER must provide a valid copy of the Proof of Authorization (POA), if requested by PROCESSOR, within two (2) banking days. Failure to provide a valid and compliant POA or not providing one within the timeframe will result in a permissible return of the transaction, and a subsequent debit to the CUSTOMER’s account or settlement proceeds.

Receiver Authorization. CUSTOMER agrees to obtain authorization from Receivers pursuant to the requirements of the Rules prior to debiting or crediting Receivers’ accounts. CUSTOMER must retain the original or a copy of each written authorization of a Receiver, or a readily and accurately reproducible record (as such term is defined in the Rules) evidencing any other form of authorization, for two years from the termination or revocation of the authorization. CUSTOMER represents and warrants with respect to all Entries originated by CUSTOMER and processed ACh Origination Terms and Conditions by PROCESSOR for CUSTOMER that (1) each Receiver has authorized the debiting and/or crediting of its account, (2) each Entry is for an amount agreed to by the Receiver, (3) appropriate authorization methods for different Standard Entry Class (SEC) codes are used, as may differ in Nacha Rules; and (4) each Entry is in all other respects properly authorized. CUSTOMER agrees to indemnify PROCESSOR and the ODFI, including their directors, officers, employees, and affiliates, for any claims, demands, losses, liabilities, costs, or expenses suffered or incurred (including attorneys’ fees and costs) relating to, arising out of, or involving any breach of these representations and warranties. CUSTOMER must provide a valid copy of the Proof of Authorization (POA), if requested by PROCESSOR, within two (2) banking days. Failure to provide a valid and compliant POA or not providing one within the timeframe will result in a permissible return of the transaction, and a subsequent debit to the CUSTOMER’s account or settlement proceeds.