Common use of Wire Payments Clause in Contracts

Wire Payments. If you elect to have the payment for an entry in your Data File made by wire transfer, you will be the sender of the payment order that the Bank will format from your Data File, whether such payment order is transmitted to us through secure FTP or Online Banking. In order to elect wire transfer payments as part of the Integrated Payables Service, the Bank must have agreed to provide you wire transfer service and you must have a signed Commercial Online Banking Appendix. Except as otherwise provided in this Integrated Payables Service Schedule, the terms and conditions of the Appendix will govern each payment order which, in accordance with your integrated payables data file, the Bank formats and transmits to settle through standard wire transfer processing systems.