SDD B2B definition

SDD B2B means a direct debit scheme—applicable only and exclusively between enterprises and entities not qualifying as consumers—which enables the payee to collect the given euro amount from the payer’s payment account, provided the payer has authorised the payee in advance and in writing to do so, and provided that the payer’s bank has admitted the mandate and the collection order has been submitted in accordance with the mandate; in accordance with Hungarian laws on payments, a customer qualifying as a microenterprise may not give a mandate for an SDD B2B scheme as a payer.
SDD B2B means the SEPA Direct Debit Business to Business Scheme.

Examples of SDD B2B in a sentence

  • SEPA SDD (SEPA Direct Debit) direct debits in euro within the SEPA area, including direct debits between different Customers who hold payment accounts at the Bank, which might be either SDD Core or SDD B2B orders as regards their type.

  • SEPA SDD (SEPA Direct Debit): az egységes európai fizetésforgalmi övezeten belül bonyolított euro devizanemű beszedések, mely a típusát tekintve SDD Core vagy SDD B2B beszedés lehet.

  • Direct debit includes only payments under the SEPA SDD Core and SEPA SDD B2B schemes.

  • Mandatory Customer-to-Bank (C2B) Implementation Guidelines (IGs) (# 8) (also in SDD Core and SDD B2B) A first ESTF comment was whether the pain.007 message used for SDD reversals is in scope of the mandatory C2B IGs. The EPC members explained that the SDD creditor bank is not obliged by the SDD rulebooks to accept SDD reversals from the creditor.

  • As an example, if the legacy DD scheme under which the original mandate was signed offered a payer-protective “no-questions asked refund right” protection, then the mandate can only be migrated to the SEPA SDD Core scheme, where similar protections ap- ply, rather than to the (potential future) SDD Fixed Amount scheme (for consumers) or the SDD B2B scheme (for corporates), which do not have this feature.

  • By contrast, post-settlement R-transactions which are to be routed via other CSMs can be routed successfully no earlier than through the fourth (SDD Core) or the fifth (SDD B2B) submission window on the settlement date of the original SEPA direct debits.

  • Debtor banks undertake all possible actions to get in touch with the debtor when a SDD B2B collection is presented but there is no SDD B2B mandate justifying this collection.

  • The SEPA-Clearer's SDD service (comprising the SDD Core service and an SDD B2B service) supports SEPA direct debits in XML format as stipulated in the ISO 20022 standard and the EPC specifications.

  • The Customer shall immediately report to the Bank in writing any change in the mandate, or its cancellation; in the case of change, the modified mandate should also be filed with the Bank.5.13.5.4 The party initiating the SDD B2B direct debit shall notify the payer of the submission of the direct debit—its amount and debit date—at least 14 days prior to the debit date identified in the direct debit.

  • In the case of an SDD B2B direct debit that has been submitted under an invalid mandate, or with data deviating from those included in the mandate, or against the limitations included in the mandate, the Bank shall reconcile with the Customer and shall execute or reject the direct debit acting in accordance with the Customer’s instructions.

Related to SDD B2B

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  • Bidder from a country which shares a land border with India for the purpose of this Order means: -

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  • SDSL or "Symmetric Digital Subscriber Line" is a baseband DSL transmission technology that permits the bi-directional transmission from up to 160 kbps to 2.048 Mbps on a single pair. "VDSL" or "Very High Speed Digital Subscriber Line" is a baseband DSL transmission technology that permits the transmission of up to 52 Mbps downstream (from the Central Office to the End User Customer) and up to 2.3 Mbps digital signal upstream (from the End User Customer to the Central Office). VDSL can also be 26 Mbps symmetrical, or other combination.

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  • Indigenous Peoples Planning Framework or “IPPF” means the indigenous peoples planning framework for the Investment Program, including any update thereto, agreed between the Borrower and ADB and incorporated by reference in the FFA;