Bacs System definition

Bacs System means the system relating to the automated clearing and settlement of payments between Members or, as the context may require, the processes and all that is comprised in them for the clearing of payments between Members in relation to that system, as administered and operated by Bacs;
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Examples of Bacs System in a sentence

  • Bacs System: means the system relating to the automated clearing and settlement of payments operated by Bacs.

  • Contact: means a person who is authorised to access and use the Bacs System via Bacstel-IP (either using Digital Identification Service or ASM) on behalf of a member of the Bacs System (including for the avoidance of doubt the Bank) or a Service User (as the case may be).

  • Commercial Computer Bureau: applies where You are a commercial computer bureau which is authorised by Us to make submissions to, receive output from or collect reports from the Bacs System on behalf of Your customers who may supply You with data in a variety of formats.

  • Contact: means a person who is authorised to access and use the Bacs System via Bacstel-IP (using a Bacs Approved Bureau or ASM) on behalf of a member of the Bacs System (including for the avoidance of doubt the Bank) or a Service User (as the case may be).

  • Primary Security Contact/PSC: means an individual authorised to access the Bacs System using ASM on behalf of Your Organisation and to whom a Contact ID and an Access Code have been issued by the Bacs System and who is authorised by Your Organisation to perform certain functions via the Bacs System including the ability to set up and maintain additional contacts.

  • Access Code: means the access code associated with a Contact ID as issued by the Bacs System to the relevant Contact or subsequently changed by the Bacs System or any Contact as contemplated by (amongst other documents) the Bacstel-IP Service User Guide.

  • Service: means facilitation of access provided to the Bacs System for the purposes of submitting a Bacstel-IP Transmission/s directly to the Bacs System via a Bacs Approved Bureau or ASM.

  • Direct debits and direct deposits are made using the Bacs System.

  • You shall not, and shall ensure that Contacts do not, do anything in connection with the Bacs System via the Service outside the United Kingdom, the Channel Islands or the Isle of Man which would or is reasonably likely to result in the Bacs System or Us being in breach of any applicable laws or regulations outside the United Kingdom, the Channel Islands or the Isle of Man.

  • CAF is required to accept and comply with such standard terms, conditions or rules as Bacs may impose on its users from time to time (the “Bacs terms”) in return for that access and ability to use the Bacs System (the “Bacs user right”) which may cease to be permitted, withdrawn, suspended or terminated in accordance with the Bacs terms.

Related to Bacs System

  • Fuel system means the components which store or transport fuel on board the vehicle and comprise the fuel tank system, all fuel and vapour lines, any non-tank mounted fuel pumps and the activated carbon canister.

  • Customer System means the Customer's computing environment (consisting of hardware, software and/or telecommunications networks or equipment) used by the Customer or the Supplier in connection with this Contract which is owned by or licensed to the Customer by a third party and which interfaces with the Supplier System or which is necessary for the Customer to receive the Services;

  • 911 system means the set of network, database and customer premise equipment (CPE) components required to provide 911 service.

  • Open video system means an open video system authorized pursuant to 47 U.S.C. § 573 and, for

  • Alarm system means equipment and devices assembled for the purpose of:

  • Grid System means STU / MSEDCL power transmission system / distribution system through which Delivered Energy is evacuated and distributed.

  • Operating System refers to the software that manages Hardware for Programs and other software.

  • Beam monitoring system means a system designed and installed in the radiation head to detect and measure the radiation present in the useful beam.

  • Customer Equipment means hardware, software, systems, cabling and facilities provided by you and used in conjunction with the Equipment that we supply to you in order to receive the Services;

  • TARGET2 System means the Trans-European Automated Real-Time Gross Settlement Express Transfer (TARGET2) system or any successor thereto.

  • Control system means a system for controlling the light output of a Luminaire, including:

  • Customer Interconnection Facilities means all facilities and equipment owned and/or controlled, operated and maintained by Interconnection Customer on Interconnection Customer’s side of the Point of Interconnection identified in the appropriate appendices to the Interconnection Service Agreement and to the Interconnection Construction Service Agreement, including any modifications, additions, or upgrades made to such facilities and equipment, that are necessary to physically and electrically interconnect the Customer Facility with the Transmission System.

  • IT System means the configuration of computer components comprising all the software owned by, or licensed to you by a third party (and any updates and enhancements to it), all hardware, telecommunications and network equipment used by you, together with any asset which relies in any respect on computer hardware or other information technology (whether embedded or not) which links the different parts of the system together;