Common use of TIMING OF YOUR PAYMENTS Clause in Contracts

TIMING OF YOUR PAYMENTS. (i) Payments are deducted from your Payment Account on the payment ‘Send On’ date you select when you scheduled your payments and are sent to your Payees on the next Business Day. Although the payment is processed and sent to your Payee on the next Business Day, we cannot guarantee when the payment will be received by the Payee or credited to your account with the Payee, if applicable. Payments must be scheduled by 8:00 p.m. Central Time on a Business Day in order for the payment Send On date to be that Business Day. Payments scheduled after 8:00 p.m. Central Time or on a non-Business Day will have a payment Send On date of the next Business Day, at the earliest. You must have sufficient available funds in your Payment Account or a sufficient available credit limit under your CoverCheck or business overdraft account on the payment Send On date to cover each payment, or it could be rejected. (ii) For Payees in the continental United States, Alaska or Hawaii, the payment Send On date must be at least five (5) Business Days prior to the payment due date, excluding any applicable grace periods allowed by the Payee. We will not be responsible for any late payment or loss you may incur if your payment Send On date is not at least five (5) Business Days prior to the payment due date. For Payees outside of the continental United States, Alaska and Hawaii, the payment Send On date must be at least ten (10) business days prior to the payment due date, excluding any applicable grace periods allowed by the Payee. Payments to a Payee with an address outside of the continental United States, Alaska and Hawaii are not covered by the Sub Paragraph titled “PAYMENT GUARANTEE” below.

TIMING OF YOUR PAYMENTS. (i) Payments are deducted from your Payment Account on the payment ‘Send On’ date you select when you scheduled your payments and are sent to your Payees on the next Business Day. Although the payment is processed and sent to your Payee on the next Business Day, we cannot guarantee when the payment will be received by the Payee or credited to your account with the Payee, if applicable. Payments must be scheduled by 8:00 p.m. Central Time on a Business Day in order for the payment Send On date to be that Business Day. Payments scheduled after 8:00 p.m. Central Time or on a non-Business Day will have a payment Send On date of the next Business Day, at the earliest. You must have sufficient available funds in your Payment Account or a sufficient available credit limit under your CoverCheck or business overdraft account on the payment Send On date to cover each payment, or it could be rejected. (ii) For Payees in the continental United States, Alaska or Hawaii, the payment Send On date must be at least five (5) Business Days prior to the payment due date, excluding any applicable grace periods allowed by the Payee. We will not be responsible for any late payment or loss you may incur if your payment Send On date is not at least five (5) Business Days prior to the payment due date. For Payees outside of the continental United States, Alaska and Hawaii, the payment Send On date must be at least ten (10) business days prior to the payment due date, excluding any applicable grace periods allowed by the Payee. Payments to a Payee with an address outside of the continental United States, Alaska and Hawaii are not covered by the Sub Paragraph titled “PAYMENT GUARANTEE” below. (iii) If payment is made by a Single Use Virtual Bank Card and is not accepted by the expiration date or is declined by the Payee, a check will be issued to the Payee by the deliver by date.