Collecting Institution definition

Collecting Institution means the credit institution to which the Beneficiary has opened the account to be credited or which was credited with the amount provided in the Direct Debit Instruction. Paying Institution means the credit institution with which the Payer opened the Account to be debited or which was debited by the amount stipulated in the Direct Debit Instruction. Direct Debit Instruction (or IDD) means the Payment Instruction by direct debit issued by a Beneficiary and drawn from an Account of a Payer opened with a Paying Institution which can be in intra-banking system when the Collecting Institution is the same with the Paying Institution; respectively, in inter-banking system, when the Collecting Institution is different from the Paying Institution.
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Collecting Institution means the credit institution with which the Beneficiary opened the Account to be credited or which was credited by the amount stipulated in the Direct Debit Instruction.
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Examples of Collecting Institution in a sentence

  • Direct Debit Commitment (or ADD) represents the agreement concluded between the Beneficiary and the Collecting Institution, which includes the Beneficiary’s responsibilities and its commitment to comply with the provisions of the existing legislation, including of the regulation regarding direct debit performed through the automatic clearing house, as well as the accord of the Collecting Institution that the Beneficiary uses the Direct Debit Instructions within a direct debit scheme.

  • Intrabank Direct Debit Instruction (Intrabank DDI) - a direct debit payment instruction where the central account bank is the same as the paying institution with which the Participant has opened the current account to be debited or has been debited with the amount specified in the Direct Debit Instruction (the Collecting Institution is the same as the Paying Institution).

  • Direct Debit Commitment (or ADD) represents the agreement concluded between the Beneficiary and the Collecting Institution, which includes the Beneficiary’s responsibilities and its commitment to comply with the provisions of the regulation regarding direct debit performed through the automatic clearing house, as well as the accord of the Collecting Institution that the Beneficiary uses the Direct Debit Instructions within a direct debit scheme.

  • Completion Date - the bank day (z) on which the amount set out in the Direct Debit Instruction is credited to the Short-Term Market Central Account by the Collecting Institution.

  • Direct Debit Commitment (or ADD) represents the agreement concluded between the Beneficiary and the Collecting Institution, which includes the Beneficiary’s responsibilities and his commitment to comply with the provisions of the existing legislation, including of the regulation regarding direct debit performed through the automatic clearing house, as well as the accord of the Collecting Institution that the Beneficiary uses the Direct Debit Instructions within a direct debit scheme.

  • Direct Debit Agreement (DDA) - an agreement between BRM and BCR as Collecting Institution, in accordance with the provisions of the applicable national and European legislation on Direct Debit, and the Collecting Institution's acceptance of BRM's use of the Direct Debit Instructions under a Direct Debit Scheme.

Related to Collecting Institution

  • banking institution means a bank, bank and trust company, trust company, savings bank, private bank, or a national banking association, organized and doing business under the provisions of any law of this state, or of any other state of the United States, or under the provisions of any law of the United States of America.

  • Collecting bank means a bank handling the item for collection except the payor bank.

  • Sending institution means the institution of higher education of most recent previous enrollment by a transfer student at which transferable academic credit was earned.

  • Submitting Institution An organization who submitted a genomic dataset to an NIH-designated data repository (e.g., dbGaP).

  • Lending institution Any insurance company, federally insured commercial or savings bank, national banking association, savings and loan association, credit union, employees’ welfare, pension or retirement fund or system, corporate profit sharing or pension trust, college or university, endowment fund, real estate investment trust, or other institutional lender or financial enterprise, including, without limitation, any corporation qualified to be treated for federal tax purposes as a real estate investment trust, having a net worth of at least $50,000,000 acting on its own behalf or as agent on behalf of other Lending Institutions.

  • Participating institution means an "institution" as defined in KRS 164.001 that actively participates in the federal Pell Grant program, executes a contract with the authority on terms the authority deems necessary or appropriate for the administration of its programs, and:

  • Receiving Institution The college or university where a transfer student plans to enroll and to apply previously earned credit toward a degree program.

  • Training Institution means the Grantee.

  • Selling Institution The entity obligated to make payments to the Issuer under the terms of a Participation Interest.

  • Qualifying Institution means the United States office of a commercial bank or trust company organized under the laws of the United States of America or a political subdivision thereof, or a foreign bank, having assets $10,000,000,000 (net of reserves) and a credit rating on its long-term senior unsecured debt of at least "A" from S&P and "A2" from Moody's.

  • Custodial Institution means any Entity that holds, as a substantial portion of its business, financial assets for the account of others. An entity holds financial assets for the account of others as a substantial portion of its business if the entity’s gross income attributable to the holding of financial assets and related financial services equals or exceeds 20 percent of the entity’s gross income during the shorter of: (i) the three-year period that ends on December 31 (or the final day of a non-calendar year accounting period) prior to the year in which the determination is being made; or (ii) the period during which the entity has been in existence.

  • approved institution means an entity so named in a Certificate. From time to time the Fund may amend a previously delivered Certificate by delivering to the Transfer Agent a Certificate naming an additional entity or deleting any entity named in a previously delivered Certificate.

  • private institution (“sefydliad preifat”) means an institution which is not publicly funded;

  • Eligible lending institution means a financial

  • Home Institution means the institution where the student is currently enrolled as a degree seeking student and may be eligible for financial aid at the same institution.

  • Depository Institution Any depository institution or trust company, including the Trustee, that (a) is incorporated under the laws of the United States of America or any State thereof, (b) is subject to supervision and examination by federal or state banking authorities and (c) has outstanding unsecured commercial paper or other short-term unsecured debt obligations that are rated P-1 by Moody's, F1+ by Fitch and A-1 by Standard & Poor's.

  • State institution means a mental health institute, as defined in s. 51.01 (12), a center for the developmentally disabled, as defined in s. 51.01 (3), or a secure mental health facility at which persons are committed under s. 980.06.

  • Servicing Bank means the Agent or the Security Trustee;

  • Public institution means any entity established or controlled by the federal government, state government, or a local government or municipality, including, but not limited, institutions of higher education and related research institutions.

  • the institution means the institution which the Corporation is established to conduct and any institution for the time being conducted by the Corporation in exercise of its powers under the Further and Higher Education Act 1992;

  • Financial institution means a Bank, Development Finance Institution, Non Banking Finance Company, Modaraba or an institution registered under relevant laws to provide financial services within or outside Pakistan.

  • International banking institution means an international financial institution of which the United States is a member and whose securities are exempt from registration under the Securities Act of 1933.

  • Host Institution means the body or institution or administering organisation named in the Letter of Award as the “Host Institution” as the body responsible for undertaking and managing the Research;

  • credit institution means a credit institution as defined in point (1) of Article 4(1) of Regulation (EU) No 575/2013;

  • Insured Depository Institution Insured Depository Institution shall have the meaning ascribed to such term by Section 1813(c)(2) of Title 12 of the United States Code, as amended from time to time.

  • Designated Depository Institution A depository institution (commercial bank, federal savings bank, mutual savings bank or savings and loan association) or trust company (which may include the Trustee), the deposits of which are fully insured by the FDIC to the extent provided by law.