Returned Debits definition

Returned Debits. Any payment remitted by an Obligor to the Servicer that does not clear such Obligor's account.
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Examples of Returned Debits in a sentence

  • The CLIENT hereby acknowledges the Common Law principle of “Set-off” allowing BDB to set-off Service Fees ,for services rendered, as well as Returned Debits directly from Collected amounts.

  • The CLIENT hereby authorises and instructs BDB to debit its account as specified in Annexure A, par 1 to this Agreement in respect of any outstanding Service Fees or Returned Debits where the Collected Amount has been paid to the CLIENT.

Related to Returned Debits

  • Direct Debit means a payment service for debiting a payer’s payment account, where a payment transaction is initiated by the payee on the basis of the payer’s consent given to the payee, to the payee’s payment service provider or to the payer’s own payment service provider;

  • Direct Deposit means an order for electronic transfer of a refund into a taxpayer’s financial institution account.

  • FT Account Pool #: Mortgagor's Name, Address and Zip Code: Mortgage Loan Number: Reason for Requesting Documents (check one)

  • Transferred Account means each account into which an Account is transferred, provided that (i) such transfer is made in accordance with the Credit Card Guidelines and (ii) such account can be traced or identified as an account into which an Account has been transferred.

  • Earned credit means the amount of the bid incentive allocated to a contractor upon completion of a contract in which the contractor met or exceeded his or her goals for the utilization of BEPDs in the performance of the contract.