Check 21 Transaction definition

Check 21 Transaction. An electronic payment transaction utilizing a Substitute Check image permitted by Check 21.
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Check 21 Transaction means an electronic payment transaction utilizing a “IRD” permitted by Check 21.
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Check 21 Transaction. An electronic payment transaction utilizing an Image Replacement Document (IRD) permitted by Check 21.
Sample 1

Examples of Check 21 Transaction in a sentence

  • If the Bank or its processors do not complete a Check 21 Transaction on time or in the correct amount in accordance with terms on the Image and under the terms of this Agreement, the Bank’s liability for Customer’s losses and damages will be limited to those directly and proximately caused by the Bank’s failure, said damages not to include indirect, consequential, special or exemplary damages.

  • If Bank or its processors do not complete an ACH Transaction or Check 21 Transaction on time or in the correct amount in accordance with terms on the Image and under the terms of this Agreement, Bank’s liability for Customer’s losses and damages will be limited to those directly and approximately caused by Bank’s failure, not to include indirect, consequential, special or exemplary damages.

  • Bank will then notify Customer as to whether the transmission of the File or the Entry to the ACH Transaction or Check 21 Transaction has been initiated.

  • The Bank will then notify the Customer as to whether the transmission of the Check 21 Transaction has been initiated.

  • If the Bank or its processors do not complete a Check 21 Transaction on time or in the correct amount in accordance with terms on the Image and under the terms of this Agreement, the Bank’s liability for Customer’s losses and damages will be limited to those directly and proximately caused by the Bank’s failure, not to include indirect, consequential, special or exemplary damages.


More Definitions of Check 21 Transaction

Check 21 Transaction means an electronic payment transaction utilizing an “IRD” permitted by Check 21.
Sample 1
Check 21 Transaction. An electronic payment transaction utilizing a Substitute Check Image permitted by Check 21. “Customer”: Xxxxxxxx’s customer who submits a payment to Merchant by means of a paper check or ACH transfer. “Entry”: A transaction submitted by Merchant for processing by the Services and further defined in the NACHA Rules. “Image”: The image that results from an electronic scan of a paper check by Xxxxxxxx.
Sample 1

Related to Check 21 Transaction

  • Minimum Transaction Size means the minimum value of subsequent subscriptions,

  • Sale Transaction has the meaning set forth in Section 3(a).

  • Public-finance transaction means a secured transaction in connection with which:

  • Required Transaction means any transaction involving a Swap that is subject to the trade execution requirement of Section 2(h)(8) of the Act.

  • Restructuring Transaction means a tax free distribution under section 355 of the internal revenue code and includes tax free transactions under section 355 of the internal revenue code that are commonly referred to as spin offs, split ups, split offs, or type D reorganizations.

  • Acquisition Transaction has the meaning set forth in Section 5.09(a).

  • Alternative Transaction means the sale, transfer, lease or other disposition, directly or indirectly, including through an asset sale, stock sale, merger or other similar transaction, of all or substantially all of the Purchased Assets in a transaction or a series of transactions with one or more Persons other than Purchaser (or its Affiliates).

  • Taxpayer resource transaction means a sale, purchase, lease, donation of money, goods, services, or real property, or any other transaction between a governmental entity and a private entity that provides to the private entity something of value derived from state or local tax revenue, regardless of whether the governmental entity receives something of value in return.

  • Qualifying Transaction means a transaction where a CPC acquires Significant Assets, other than cash, by way of purchase, amalgamation, merger or arrangement with another Company or by other means.