Positive Pay System definition

Positive Pay System or “PPS” means the process of reconfirming key details of large value cheques, where the issuer of the cheque submits to the Bank electronically (through channels like SMS, mobile banking, internet banking, ATM, etc.) or in writing or in any other mode permitted by the Bank from time to time (subject to the guidelines of RBI), requisite minimum details of the corresponding cheque issued by the issuer (such as date, name of the beneficiary/payee, amount, etc.) and the terms “Positive Pay System instructions” or “PPS instructions” shall be construed accordingly.
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Positive Pay System means accessing the website for Positive Pay Services
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Positive Pay System means accessing the website for Positive
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Examples of Positive Pay System in a sentence

  • The Positive Pay System is capable of mapping Check Files created from multiple software programs.

  • If an Entry is rejected, returned or if a Notification of Change (“NOC”) is received, Bank shall timely notify Company through its Positive Pay System or any other agreed upon method.

  • Company will review the Exception List each Business Day by 3:00 p.m. CT through the Positive Pay System, otherwise Company’s chosen default option will be applied.

  • To provide restricted and protected access to the Positive Pay System and to ensure secure communications within Positive Pay System, Valley Strong utilizes a unique Digital Certificate for XxxxxxXxxxxx.xxx The Credit Union will also deliver to you such Login ID(s) and PASSWORD(s) to access the Positive Pay system through XxxxxxXxxxxx.xxx, as you may request.

  • RBI has introduced Positive Pay System (PPS) for Cheque Truncation System (CTS) with effect from January 01, 2021 The concept of Positive Pay involves a process of reconfirming key details of large value cheques.

  • Litwiler, Fletcher & Sippel LLC, 29 North Wacker Drive, Suite 920, Chicago, IL 60606.According to NOPB Corp., this actionis categorically excluded fromacquisition will not affect or impair Conrail’s ability to provide freight service to existing or future shippers.

  • We undertake no obligation to monitor access to XxxxxxXxxxxx.xxx or transactions through Positive Pay System to determine that access or services are made by an Authorized Person, and we will not be liable for any loss or damage suffered by you because of any misuse by unauthorized persons.

  • Positive Pay System is introduced by the RBI as one of the effective fraud prevention tools in Cheque clearing and Bank has implemented it w.e.f. 01.01.2021.Positive Pay System is a process of reconfirming the key details of high value cheques issued to the drawee Bank by the customers.

  • You shall at all times indemnify, defend and hold us and our service providers harmless from and against all actions, proceedings, claims or loss, damage, costs and expenses (including reasonable attorney fees) which may be brought against us or our service providers or incurred by us or our service providers which arise in connection with the instructions received by the Positive Pay System relating to your account.

  • Any cheques returned under Positive Pay System, will be considered as “Non-financial Technical Returns” where cheque return charges will not be applicable.

Related to Positive Pay System

  • Competing Program has the meaning set forth in Section 8.5.

  • Cannabis production establishment agent means a cannabis cultivation facility

  • approach control service means air traffic control service for arriving or departing controlled flights;

  • Cabinet x-ray system means an x-ray system with the x-ray tube installed in an enclosure independent of existing architectural structures except the floor on which it may be placed. The cabinet x-ray system is intended to contain at least that portion of a material being irradiated, provide radiation attenuation, and exclude personnel from its interior during generation of radiation. Included are all x-ray systems designed primarily for the inspection of carry-on baggage at airline, railroad, and bus terminals, and in similar facilities. An x-ray tube used within a shielded part of a building, or x-ray equipment that may temporarily or occasionally incorporate portable shielding, is not considered a cabinet x-ray system.

  • Minimum Generation Emergency means an Emergency declared by the Office of the Interconnection in which the Office of the Interconnection anticipates requesting one or more generating resources to operate at or below Normal Minimum Generation, in order to manage, alleviate, or end the Emergency.

  • Umbrella Cash Account means (a) a cash account designated in a particular currency opened

  • aerodrome control service means air traffic control service for aerodrome traffic;

  • Cannabis production establishment agent registration card means a registration card that the department issues that:

  • Food service establishment means a fixed or mobile restaurant, coffee shop, cafeteria, short order cafe, luncheonette, grill, tearoom, sandwich shop, soda fountain, tavern, bar, cocktail lounge, nightclub, drive-in, industrial feeding establishment, private organization serving the public, rental hall, catering kitchen, delicatessen, theater, commissary, food concession, or similar place in which food or drink is prepared for direct consumption through service on the premises or elsewhere, and any other eating or drinking establishment or operation where food is served or provided for the public. Food service establishment does not include any of the following:

  • Web spray adhesive means any aerosol adhesive that is not a mist spray or special purpose spray adhesive.

  • X-ray system means an assemblage of components for the controlled production of x-rays. It includes minimally an x-ray high-voltage generator, an x-ray control, a tube housing assembly, a beam-limiting device, and the necessary supporting structures. Additional components which function with the system are considered integral parts of the system.

  • Step therapy protocol means a protocol or program that establishes the specific

  • User Account means an account under the name of the Customer in relation to the Service subscribed by the Customer.

  • Fugitive emission means an emission to air from the permitted installation that is not controlled by an emission limit imposed by a condition of this Permit.

  • Service Animal means an animal that is required by a person with a disability for assistance and is certified, in writing, as having been trained by a professional service animal institution to assist a person with a disability and which is properly harnessed in accordance with standards established by a professional service animal institution.

  • area control service means air traffic control service for controlled flights in control areas;

  • Competitive contracting means the method described in sections 45 through 49 of P.L.1999, c.440 (C.18A:18A-4.1 through C.18A:18A-4.5) of contracting for specialized goods and services in which formal proposals are solicited from vendors; formal proposals are evaluated by the purchasing agent or counsel or School Business Administrator; and the Board awards a contract to a vendor or vendors from among the formal proposals received.

  • Temporary food service establishment means a food service establishment that operates at a fixed location for a period of time of not more than 14 consecutive days in conjunction with a single event or celebration.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • Maximum Generation Emergency means an Emergency declared by the Office of the Interconnection to address either a generation or transmission emergency in which the Office of the Interconnection anticipates requesting one or more Generation Capacity Resources, or Non- Retail Behind The Meter Generation resources to operate at its maximum net or gross electrical power output, subject to the equipment stress limits for such Generation Capacity Resource or Non-Retail Behind The Meter resource in order to manage, alleviate, or end the Emergency.

  • Maximum Generation Emergency Alert means an alert issued by the Office of the Interconnection to notify PJM Members, Transmission Owners, resource owners and operators, customers, and regulators that a Maximum Generation Emergency may be declared, for any Operating Day in either, as applicable, the Day-ahead Energy Market or the Real-time Energy Market, for all or any part of such Operating Day.

  • Salary reduction plan means a benefit plan whereby state and

  • Fugitive dust emissions means particulate matter from process operations that does not pass through a process stack or vent and that is generated within plant property boundaries from activities such as: unloading and loading areas, process areas, stockpiles, stock pile working, plant parking lots, and plant roads (including access roads and haul roads).

  • Public School Student Accessing Courses at a Distance means a student who is scheduled for a full course load through the District and attends all classes virtually.

  • Established geographic service area means a geographic area, as approved by the Commissioner and based on the carrier's certificate of authority to transact insurance in this state, within which the carrier is authorized to provide coverage;

  • Step therapy means a program for Insureds who take Prescription Drugs for an ongoing medical condition, such as arthritis, asthma or high blood pressure, which ensures the Insured receives the most appropriate and cost-effective drug therapy for their condition. The Step Therapy program requires that before benefits are payable for a high cost Covered Drug that may have initially been prescribed, the Insured try a lower cost first-step Covered Drug. If the prescribing Physician has documented with SHL why the Insured’s condition cannot be stabilized with the first-step Covered Drug, SHL will review a request for Prior Authorization to move the Insured to a second-step drug, and so on, until it is determined by SHL that the prescribed Covered Drug is Medically Necessary and eligible for benefit payment.