Cash Management Agreement Definition

April 9, 2021

Financial instruments active in cash management include money funds, treasury bills and certificates of deposit. [4] “Cash management service” or “service (s),” any of the various electronic banking and/or other cash management services; made available to the customer from time to time by the bank (and/or third parties of the bank) in accordance with this agreement, annexes, furnishings/furniture/s (defined below) and all parts, service guides or manuals made available to the customer by the bank. 34.1 Customer as a third party. Subject to the bank`s prior agreement and at its sole discretion, the customer may be permitted to use one or more of these services, on behalf of and in connection with accounts belonging to the customer, belonging to the client`s customers, who are or are not customers of the bank, as well as in his own name (hereafter, if in such a property, called “customer service provider as”). The client must execute other agreements or documents that the bank deems necessary or appropriate before the Client uses or continues to provide services in this capacity. The customer accepts that the bank retains the right to refuse any invitation from the customer to participate in the client`s activities as a service provider, as well as any transaction initiated by the customer at his sole discretion. If the bank authorizes the use of the services by the customer as a service provider, the following information is also applicable: 12. Overdrafts I`ll take care of it. The bank may, but is not required to, complete any transaction related to the provision of services, if the funds available in the client`s account are not sufficient to complete the transaction.

In the event that the client`s actions result in an overdraft on one of the accounts receivable, including, but not limited to the client`s inability to maintain sufficient balances on one of the accounts receivable, the customer is responsible for the immediate and un noticeable overdraft refund. The Bank has the right, in addition to all other rights and remedies at its disposal, to obtain the outstanding balance of a service-related debt relating to any debt, obligations due to the client by the bank, including, but not limited, any obligation of a pension contract or obligation held at any time by the bank, whether withdrawn or retained during the collection process, or on another account held by the customer on a certificate of deposit issued by the bank or issued by a customer.