Transaction Settlement Funds Sample Clauses
The Transaction Settlement Funds clause defines how and when the funds from a transaction are to be transferred between parties. Typically, it outlines the process for collecting, holding, and disbursing payments, specifying timelines, conditions for release, and any escrow arrangements. This clause ensures that both parties understand the flow of money, reducing the risk of disputes and providing a clear framework for the financial settlement of the transaction.
Transaction Settlement Funds. Stripe will transfer settlement funds for Transactions, net of Fees, Disputes, Refunds, Reversals and other amounts owed to Stripe, from the applicable Pooled Account to the applicable User Bank Account within the time period stated in the Payout Schedule, unless a Payout Delay occurs and affects the transfer initiation, or Stripe exercises a right under this Agreement to withhold or delay the transfer. However, Stripe may impose an additional holding period before making the initial settlement to a User Bank Account.