Paying Institution definition

Paying Institution means the credit institution with which the Payer opened the Account to be debited or which was Payment Instrument means any customized device and/or any set of procedures agreed between the Client and BCR in order to initiate a Payment Operation or, in general for the supply of a Payment Service. Payment Instruction represents any payment instruction sent by the Client to BCR requesting the execution of a Moment of irrevocability represents the limit moment in time until which the Client can revoke or change the mandate or can reject an IDD, represented by the limit hour of a Working Day preceding the Finalization Date. Reception moment represents the moment in which a Payment Instruction is received by BCR. Payment Operation means an action initiated by the Client or another Ordering person or by the Beneficiary in order to deposit, transfer or withdraw funds in or from a Current Bank Account. Ordering person represents the Client or another authorized person sending to BCR a Payment Instruction OUR represents the commissioning way related to foreign currency transactions, according to which the fees of all banks on the payment route are born by the Ordering person. The fee “Secured OUR” excludes the possibility of a later settlement of the fees, the fee related to the payment being born by the Ordering person only once, when the payment is made, except for the payment transiting USA.
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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.
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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. Payment Instrument means any customized device and/ or any set of procedures agreed between the Client and BCR in order to initiate a Payment Operation or, in general for the supply of a Payment Service. Payment Instruction represents any payment instruction sent by the Client to BCR requesting the execution of a Payment Operation or, in general for the supply of a Payment Service. Reception moment represents the moment in which a Payment Instruction is received by BCR. Payment Transaction means an action initiated by the Client or another Ordering person or by the Beneficiary in order to deposit, transfer or withdraw funds in or from a Current Bank Account.
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Examples of Paying Institution in a sentence

  • The Client empowers BCR to notify the Beneficiary regarding the MDD conclusion and terms (including as regards MDD change/revocation), if the Paying Institution is identical to the Collecting Institution.

  • Direct Debit Mandate (or MDD) represents the mandate (given in written form) by which a Payer gives a permanent but revocable authorization to the Beneficiary to issue Direct Debit Instructions over his current bank account opened with the Paying Institution and to the Paying Institution to debit his current bank account by the amount stipulated in the Direct Debit Instructions.

  • Direct Debit Instruction (DDI) - a direct debit payment instruction issued by the BRM to the Central Account Bank at which the BRM has opened the Central Account relating to the BRM DAY-AHEAD/ WITHIN DAY GAS to be credited or has been credited by the Paying Institution at which the Participant has opened the current account to be debited or has been debited with the amount provided for in such Direct Debit Instruction.

  • Direct Debit Mandate - a document which satisfies the legal requirements and by which a Participant grants a permanent but revocable authorisation to the BRM to issue Direct Debit Instructions on its current account with the Paying Institution and, respectively, the right of the Paying Institution to debit its current account with the amount provided for in the Direct Debit Instructions issued by the BRM.

  • The Client empowers BCR to notify the Beneficiary regarding the MDD conclusion and terms (including as regards MDD change/ revocation), if the Paying Institution is identical to the Collecting Institution.

  • The Direct Debit Agreement (DDA) and the Direct Debit Mandate shall also allow the consultation of the Participant's current account balance with the Central Bank Account (CBA) or with a Paying Institution that has a direct debit agreement with the Central Bank Account (CBA) and the communication of this balance to the BRM at any time.

  • 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).

  • Paying Institution - the credit 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.

  • Right to reimbursement - the right of a Participant to make a claim for reimbursement in relation to a Direct Debit Instruction (other than B2B SDD) with the Paying Institution holding the Participant's account and, respectively, the right to receive the full amount of the Direct Debit Instruction, which claim must be made in accordance with applicable national law.

  • As Paying Institution, BCR shall fulfil the Customer’s mandate by issuing and executing the Payment Orders according to the scheduling in the relevant Convention.


More Definitions of Paying Institution

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. Payment Instrument means any customized device and/ or any set of procedures agreed between the Client Payment Instruction represents any payment instruction sent by the Client to BCR requesting the execution of a Payment Operation or, in general for the supply of a Payment Service. Reception moment represents the moment in which a Payment Instruction is received by BCR. Payment Transaction means an action initiated by the Client or another Ordering person or by the Beneficiary in order to deposit, transfer or withdraw funds in or from a Current Bank Account.
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Related to Paying Institution

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

  • Qualifying Institution means a United States commercial bank or trust company organized under the laws of the United States of America or a political subdivision thereof having assets of at least Ten Billion Dollars ($10,000,000,000) (net of reserves) and who satisfies the Credit Requirements.

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

  • 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.

  • 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.