Bounce Charges definition

Bounce Charges means an amount payable by the Borrower to the Lender as a penalty where PDCs issued by the Borrower is not honoured by the bank, or ECS or any other Repayment Mode is returned or not honoured; 'Business Day' means a day on which the Lender and banks are open for business in Delhi, Pune and Mumbai and location of the drawee bank on which the Repayment Mode is drawn; 'Due Date', means, in respect of:

Bounce Charges means an amount payable by the Customer to BFL as a penalty where the cheque(s) or ECS/ NACH/mandate or such other payment instruments issued by the Customer for the payment of Outstanding amounts is not honored by the Customer’s bank and is returned unpaid.

Bounce Charges means an amount payable by the Customer to the Lender as a penalty where the cheque(s) issued by the Customer is not honoured by the clearing bank or the EMI mandate is dishonoured;

Examples of Bounce Charges in a sentence

• Foreclosure & Other Operating Charges i.e. Bounce Charges, Loan Reschedulement Charges are accounted as an when received.

• The prepayment shall have effect only on receipt by the Lender of the entire loan outstanding including Arrears of Installments, Principal outstanding: Interest till date of payments, foreclosure charges, cheque Bounce Charges, Additional finance charges and any other charges due under this loan agreement.

• The Lender may during the Loan Tenure and at its sole discretion, with or without any prior notice to the Borrower, amend / revise any of the terms and conditions contained in the Agreement including the repayment schedule, Interest Rate and/or any other fee or charge such as Penal Interest, processing fees, Bounce Charges, Outstation Collection Charges, Pre-payment Charges, Service charges, other charges etc.

• Fees and commission that are not integral to the effective interest rate are recognised on accrual basis over the life of the loan.Other operating income i.e. Foreclosure & Bounce Charges, Loan Re-schedulement Charges are accounted on cash basis.

• A receivable is recognised when the services are delivered as this is the case of point in time recognition where consideration is unconditional because only the passage of time is required.Dividend incomeDividend income is recognised at the time when the right to receive is established by the reporting date.Miscellaneous incomeCheque Bounce Charges and ancilliary charges recovered are accounted on cash basis.

More Definitions of Bounce Charges

Bounce Charges means an amount payable by the Borrower to CFL as a penalty where the ECS/ NACH/such other instrument suitable and accepted for Outstanding payment is returned/dishonoured.

Bounce Charges. Means an amount payable by the Customer to Truffle Money as a penalty where the ECS/ NACH/such other instrument suitable and accepted for outstanding payment are returned.

Bounce Charges means an amount payable by the Borrower to SFPL, as set out in the Loan Term Sheet, where the post dated cheque(s) or ECS/ NACH or such other payment instruments issued by the Borrower for the payment of Outstanding Amounts is not honored by the Borrower’s bank and/ or is returned unpaid, as may be revised from time to time.

Bounce Charges means an amount payable by the Borrower to the Lender as a penalty where PDCs issued by the Borrower is not honoured by the bank, ECS, NACH or any other Repayment Mode is returned or not honored; 'Electronic Clearing System or ECS' or NACH, means the debit clearing schemes, notified by RBI from time to time, being mode(s) of electronic funds transfer from one bank account to another bank account using the services of a clearing house or any other platform or mechanism duly authorized in this regard including without limitation the National Electronic Clearing Service.

Bounce Charges means an amount payable by the Borrower to the Lender as a penalty where PDCs issued by the Borrower is not honoured by the bank, ECS, NACH or any other Repayment Mode is returned or not honored; ‘Business Day’ means a day on which the Lender and banks are open for business in Kolkata, Delhi, Uttar Pradesh, Haryana, Pune and Mumbai and location of the drawee bank on which the Repayment Mode is drawn; Due Date’ means in respect of: ‘Electronic Clearing System or ECS’ or NACH, means the debit clearing schemes, notified by RBI from time to time, being mode(s) of electronic funds transfer from one bank account to another bank account using the services of a clearing house or any other platform or mechanism duly authorized in this regard including without limitation the National Electronic Clearing Service.

Bounce Charges means an amount payable by the Customer to BFL as a penalty where the Cheque(s), NACH, or any other Repayment Mode(s) provided by the Customer, is/are returned unpaid and/or not honoured by the bank;

Bounce Charges means an amount payable by the borrower to the BFL as a penalty where the cheque(s) issued by the borrower is not honored by the Bank or ECS is returned.