Image Clearing System definition

Image Clearing System means the process that enables images of cheques to be exchanged between banks and building societies, through the Image Clearing System, for clearing payment.
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Image Clearing System means a system which allows banks to clear a digital image of a Sterling cheque rather than the original paper cheque;
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Examples of Image Clearing System in a sentence

  • In time for the National Go-Live mandated by the Philippine Clearing House Corporation, the Bank implemented the Check Image Clearing System (“CICS”).

  • The Contractor shall notify the CO or designeewhenever employee badges are lost.The Contractor shall be responsible for paying the Government for replacement credentials at the current cost per badge.CM.1.2.13 Escortinga.

  • The Accountholder agrees to, and consents to the compliance by Maybank with, the Check Image Clearing System, or such other electronic check clearing system, as the Philippine Clearing House Corporation (PCHC) may adopt and implement from time to time including any and all PCHC rules and issuances regarding the same and/or any amendments thereto, which are deemed incorporated hereto by reference.

  • Some mobile phone providers may charge for calls to this number.‘Image Clearing System’ means the process that enables images of cheques to be exchanged between banks and building societies, through the Image Clearing System, for clearing payment.Cheques processed through this system clear more quickly.

  • The Check Image Clearing System or CICS is the new automated clearing system that will be adopted and implemented by PCHC.

  • The extended industry sorting code directory (EISCD) is a database of information about all the bank/building society branches and bank offices that participate in one or more of the UK clearings systems:• Bacs – Bulk electronic credit and debit clearing• CHAPS Sterling – High value, same day sterling payment clearing• ICS (Image Clearing System) – Cheque and Credit Clearing for United Kingdom• Faster Payments Service – near real-time electronic credit clearing.

  • CHAPS is operated by the Bank, while FPS, Bacs and the Image Clearing System are operated by Pay.UK.

  • The retail payment systems in the Philippines are comprised of: (i) Check Image Clearing System (CICS) - operated by the Philippine Clearing House Corp.

  • The settlement of the return clearing file from Check Image Clearing System (CICS) and some of BSP’s own transactions are settled on the next business date, but value-dated to the previous day.

  • In the Deferred Net Settlement (DNS) payment schemes (Bacs, FPS, and the Image Clearing System), end-users make payments during a ‘clearing cycle’ and payment settlement occurs at the end of this cycle.

Related to Image Clearing System

  • Relevant Clearing System means (i) Euroclear, (ii) Clearstream, Luxembourg, or (iii) any other recognised clearing system in which ETP Securities of a Series may be cleared.

  • Clearing System means Monte Titoli S.p.A., with offices in Piazza degli Affari no. 6, Milan, Italy ("Monte Titoli").

  • Clearing Systems means Euroclear and Clearstream, Luxembourg;

  • Recognised Clearing System means any clearing system listed in Section 246A of the Taxes Act (including, but not limited to, Euroclear, Clearstream Banking AG, Clearstream Banking SA and CREST) or any other system for clearing shares which is designated for the purposes of Chapter 1A in Part 27 of the Taxes Act, by the Irish Revenue Commissioners, as a recognised clearing system.

  • European Clearing Systems means, collectively, Clearstream, Luxembourg and Euroclear.

  • Clearing System Business Day means in relation to an Index, any day on which the principal domestic clearing systems customarily used for settling trades in securities comprising such Index is (or, but for the occurrence of an event beyond the control of the Company or the Hedging Counterparty as a result of which such clearing system cannot clear the transfer of such securities, would have been) open for the acceptance and execution of settlement instructions.

  • Capacity Resource Clearing Price means the price calculated for a Capacity Resource that offered and cleared in a Base Residual Auction or Incremental Auction, in accordance with Tariff, Attachment DD, section 5.

  • smart metering system means an electronic system that can measure energy consumption, providing more information than a conventional meter, and can transmit and receive data for information, monitoring and control purposes, using a form of electronic communication;

  • Net metering system means a facility for the production of electrical energy that does all of the following:

  • Trading System means the Company’s electronic trade execution system that is used for the trading of Swaps, including the associated hardware, software, systems and communications links.

  • Metering System means all meters and metering devices (including current transformers and potential transformers) installed by the Company and uses to measure Electricity and delivery by the Company and receipt by the BPDB of Net Energy Output. The Metering System shall be owned and maintained by the Company.

  • Interconnection Point means the point(s) of connection(s) at which the project is connected to the grid i.e. it shall be at 11 / 22 kV bus bar level of substation of MSEDCL.

  • Electronic Funds Transfer (EFT) indicator means a four-character suffix to the unique entity identifier. The suffix is assigned at the discretion of the commercial, nonprofit, or Government entity to establish additional System for Award Management records for identifying alternative EFT accounts (see subpart 32.11) for the same entity.

  • Clearing Account has the meaning set forth in Section 2.7.1 hereof.

  • MERS(R) System The system of recording transfers of Mortgages electronically maintained by MERS.

  • Monitoring System means a system established by BNY to fulfill the Responsibilities specified in clauses (d) and (e) of Section 1 of Article III of this Agreement.

  • INTER-CONNECTION POINT/ DELIVERY/ METERING POINT means a single point at 220kV or above, where the power from the Project(s) is injected into the identified ISTS Substation (including the dedicated transmission line connecting the Projects with the substation system) as specified in the RfS document. Metering shall be done at this interconnection point where the power is injected into. For interconnection with grid and metering, the WPDs shall abide by the relevant CERC/ SERC Regulations, Grid Code and Central Electricity Authority (Installation and Operation of Meters) Regulations, 2006 as amended and revised from time to time.

  • DTC System means the book-entry system of DTC.

  • Surplus Interconnection Service means any unneeded portion of Interconnection Service established in an Interconnection Service Agreement, such that if Surplus Interconnection Service is utilized, the total amount of Interconnection Service at the Point of Interconnection would remain the same. Switching and Tagging Rules:

  • Exchange Message Interface or "EMI" means the format used for exchange of Telecommunications message information among Telecommunications Carriers. It is referenced in the Alliance for Telecommunications Industry Solutions (ATIS) document that defines industry guidelines for the exchange of message records.

  • Austraclear System means the system operated by Austraclear for holding securities and the electronic recording and settling of transactions in those securities between members of that system.

  • Surplus Interconnection Customer means either an Interconnection Customer whose Generating Facility is already interconnected to the PJM Transmission System or one of its affiliates, or an unaffiliated entity that submits a Surplus Interconnection Request to utilize Surplus Interconnection Service within the Transmission System in the PJM Region. A Surplus Interconnection Customer is not a New Service Customer.

  • Clearing Member means a registered broker-dealer which is a clearing member under the rules of O.C.C. and a member of a national securities exchange qualified to act as a custodian for an investment company, or any broker-dealer reasonably believed by the Custodian to be such a clearing member.

  • Clearing Agent means Clearstream Banking AG, Euroclear Bank S.A., and Clearstream Banking S.A. and such further or alternative clearing agent(s) or clearance system(s) as may be approved by the Issuer from time to time and notified to the Holders in accordance with General Condition 4 (each a “Clearing Agent” and together the “Clearing Agents”);

  • Fraud Monitoring System means an off-line administration system that monitors suspected occurrences of ABT- related fraud.

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