Automated Clearing House Network definition
Examples of Automated Clearing House Network in a sentence
The ACH Service allows you to initiate credit and/or debit Entries by means of the Automated Clearing House Network pursuant to the terms of this Agreement and the rules of the National Automated Clearing House Association (“NACHA”) and the local Automated Clearing House Association (the "Rules").
Customer wishes to initiate credit and/or debit Entries (as hereinafter defined) by means of the Automated Clearing House Network pursuant to the terms of these Terms and those of NACHA.
Client wishes to initiate credit and/or debit Entries by means of the Automated Clearing House Network pursuant to the terms of this Service Description and the rules of the National Automated Clearing House Association (“NACHA”) (the "Rules"), and Bank is willing to act as an Originating Depository Financial Institution (“ODFI”) with respect to such Entries (the "ACH Service").
Automated Clearing House Network is a batch processing, store-and- forward system that accumulates and distributes ACH transactions that are received from ODFI (defined below) and are forwarded to the specified RDFI (defined below) according to the specific schedules established by the participants.
However, its provisions may be used as a basis for domestic action, whether in the form of policy initiatives or even in shaping specific legislative provisions.
Electronic payments that are made through the Automated Clearing House Network ("ACH") are subject to the NACHA rules, and you agree to be bound by the Operating Rules of the ACH, including the rule making payment to the Payee provisional until receipt by the Payee's bank of final settlement of the credit transaction.
Company acknowledges that the ACH feature of the Service is an alternate entry system for issuing funds transfer requests to the Automated Clearing House Network.
To the extent transfer Requests are facilitated through the Automated Clearing House Network (“ACH”) they will be subject to the Operating Rules and Guidelines of the National Automated Clearing House Association (“NACHA Rules”), and the Client agrees to be bound by the NACHA Rules.
COMPANY AGREEMENT FOR ACH ORIGINATION RECITALS Company wishes to initiate Credit and Debit Entries by means of the Automated Clearing House Network pursuant to the terms of the Agreement and the rules of the National Automated Clearing House Association (NACHA), and Financial Institution is willing to act as an Originating Depository Financial Institution (ODFI) with respect to such Entries.
ACH Network – Automated Clearing House Network is a batch processing, store-and- forward system that accumulates and distributes ACH transactions that are received from ODFI (defined below) and are forwarded to the specified RDFI (defined below) according to the specific schedules established by the participants.