Disbursement Cycle definition

Disbursement Cycle means the cycle whereby funds successfully debited by NuPay from the Customer’s nominated bank account are paid over by NuPay to the Merchant;
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Disbursement Cycle means the cycle whereby funds successfully debited by NuPay from the customer’s nominated bank account are paid over by NuPay to the Merchant.
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Disbursement Cycle. Means the process and time involved in the execution of an organization's normal payment system. For example, if it takes five working days to process a payment, the entity has a five day disbursing cycle. If personnel (salary) payments are weekly and nonpersonnel payments are on a monthly payment cycle, the organization would have two disbursement cycles for consideration.
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Examples of Disbursement Cycle in a sentence

  • We relied on the work of the independent certified public accounting firm that conducted the Single Audits for all other work in this area, including policies, procedures, and controls with respect to federal grants and expenditures.Procurement and Disbursement Cycle BackgroundAccording to the audited financial statements and MCPS’ records, disbursements (excluding payroll) totaled $863 million during fiscal year 2020.

  • As prescribed in the State Government Article, Section 2-1224 of the Annotated Code of Maryland, we will advise MCPS regarding the results of our review of its response.APPENDIXMontgomery County Public Schools Agency Response FormProcurement and Disbursement Cycle Finding 1MCPS procurement policies did not incorporate certain requirements of State law and recognized best practices when participating in intergovernmental cooperative purchasing agreements (ICPA).

  • The Financial Management Practices Audit Report dated February 19, 2014 included 23 findings and management responses for the following processes: Revenue and Billing Cycle, Procurement and Disbursement Cycle, Human Resources and Payroll, Inventory Control and Accountability, Information Technology, Facilities Construction, Renovation and Maintenance, Transportation Services, School Board Oversight, and Other Financial Controls.

  • Disbursement Cycle: The total time between when an obligation occurs and when the payment clears the bank.

  • Cash Disbursement Cycle – This cycle is applicable only if your agency disburses funds through channels other than Mfasis or an interface with Mfasis (e.g., expends currency or writes its own checks).

  • The first report in this series, “Report on Vendor Pay Disbursement Cycle, Air Force General Fund: Contract Formation and Funding” (D-2006-056),March 6, 2006, covered the internal control related to contract formation and followup, with the focus on the contracting officer’s role and responsibility.

  • Cloud services include Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (Paas).

  • DISBURSEMENT CYCLE2.1 The Disbursement Cycle is set out in the User Manual (available at www.nupay.co.za) and/or the limit notification letter.2.2 The Disbursement value will be the net value, which should take into account all successfully debited amounts, less all disputed (reversed) amounts, less a risk management fund value (if any) less unpaid fees and tariffs (if any) less a retainer (if any) as attributable to the Disbursement Cycle.

  • CTF is very porous and thus has a large surface area, giving the meth- ane ample room to react.

  • Income information is required on admission, annually, and if income changes.

Related to Disbursement Cycle

  • Disbursement Date is defined in Section 2.6.2.

  • Disbursement Period means the period during which Grant Funds may be disbursed.

  • Disbursement Account means any Deposit Account maintained by Borrower with a financial institution for the purpose of receiving and disbursing the proceeds of Loans made pursuant hereto.

  • Final Disbursement Date means the last date on which Lender may make a Disbursement set forth in Section 10 of the Loan Authorization Agreement (including as amended by an Extension) or, if such date is not a Business Day, the next succeeding Business Day; provided, however, to the extent that Lender has not received cash collateral in the amount of the Letter of Credit Obligations or an equivalent full indemnity from Borrower or Guarantor, as applicable, with respect to Letter of Credit Obligations outstanding on the Final Disbursement Date, the Final Disbursement Date with respect to an advance to fund a drawing under such Letter of Credit shall be no later than thirty (30) days after any such drawing which may be no later than the expiry date of the Letter of Credit related thereto.

  • Designated Disbursement Account means the account of the Borrower maintained with the Administrative Agent or its Affiliate and designated in writing to the Administrative Agent as the Borrower’s Designated Disbursement Account (or such other account as the Borrower and the Administrative Agent may otherwise agree).

  • Disbursement Request means a disbursement request from the Borrower to the Administrative Agent and the Collateral Agent in the form attached hereto as Exhibit C in connection with a disbursement request from the Unfunded Exposure Account in accordance with Section 2.04(d) or a disbursement request from the Principal Collection Subaccount in accordance with Section 2.18, as applicable.

  • Controlled Disbursement Account means any account of the Borrowers maintained with the Administrative Agent as a zero balance, cash management account pursuant to and under any agreement between a Borrower and the Administrative Agent, as modified and amended from time to time, and through which all disbursements of a Borrower, any other Loan Party and any designated Subsidiary of a Borrower are made and settled on a daily basis with no uninvested balance remaining overnight.

  • Disbursement Accounts has the meaning ascribed to it in Annex C.

  • Disbursement Agent means Deutsche Bank National Trust Company, a national banking association, and its successors in interest, as disbursement agent under the Custodial and Disbursement Agreement, and any successor Disbursement Agent under the Custodial and Disbursement Agreement.

  • Disbursement Schedule means the disbursement schedule as set out in an FAA;

  • Disbursement Agreement means the Master Disbursement Agreement, dated as of the Closing Date, by and among the Administrative Agent, the Bank Facilities Administrative Agent, the Disbursement Agent, the Borrowers and LCR, in substantially the form of Exhibit D-3 hereto, as the same may be amended, supplemented, amended and restated, or otherwise modified in accordance with the terms hereof and thereof.

  • Disbursement is defined in Section 2.6.2.

  • Reimbursement Date as defined in Section 2.4(d).

  • Disbursement Rate means an annual rate of interest, as of the date of determination, equal to the greater of (a) eight percent (8%) and (b) the per annum rate for ten (10) year U.S. Treasury Obligations as published in The Wall Street Journal plus three hundred (300) basis points; provided, however, that in no event shall the Disbursement Rate exceed eleven and one-half percent (11.5%).

  • Payment Date Advance Reimbursement has the meaning set forth in Section 8.03(a)(iii)(A) of the 20[•]-[•] Servicing Supplement.

  • Advance Reimbursement Amount has the meaning stated in Section 4.4(b) of the Servicing Supplement.

  • Advance Reimbursement Amounts As defined in Section 3.29 hereof.

  • Disbursement Letter means an instructional letter executed and delivered by Administrative Borrower to Agent regarding the extensions of credit to be made on the Closing Date, the form and substance of which is satisfactory to Agent.

  • Professional Fee Escrow Account means an interest-bearing account funded by the Debtors with Cash on the Effective Date in an amount equal to the Professional Fee Amount.

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Reimbursement Amount As defined in Section 2.04.

  • Construction Account means the account by that name established in the FGR Subordinated Indebtedness Fund pursuant to the Second Resolution.

  • Reimbursement Payment shall have the meaning given to that term in Subparagraph 2.02(c).

  • Loan Disbursement Handbook means ADB’s Loan Disbursement Handbook (2012, as amended from time to time);

  • Reimbursement Amounts As defined in Section 3.22.

  • Special Reimbursement Date means, the special payment date established in connection with a Reimbursement under Special Circumstances as described hereunder “Extraordinary Events and Special Circumstances – Reimbursement Under Special Circumstances and Payment”.