Define: Expedited Payments

How is Expedited Payments defined in a legal contract?

• Expedited Payments means the mechanism that allows payments to be arranged and sent on the same or next business day. Once such a payment is arranged, it cannot be cancelled. It is subject to validation, established payment cut-off times, and verification of funds. There is an additional fee for expedited payments. Seen in 5 SEC filings.
• Expedited Payments means the payments that are started via an interface or via web services. These are processed immediately rather than awaiting a pre-determined cut-off time and are remitted quickly according to managed lead times. Seen in 3 SEC filings.
• Expedited Payments means a feature that allows for fast payments to be made to any person, offering the possibility of paying by overnight checks or by expedited electronic methods. Expedited electronic payments, once scheduled, are processed immediately and cannot be cancelled. There is a charge for each use of this feature. Seen in 1 SEC filing.
• Expedited Payments means the scheduling of a payment in a faster manner for payment to an entity in accordance with the terms of the agreement. Seen in 1 SEC filing.

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of expedited payments' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

Expedited Payments means the rapid initiation and processing of payments, without delay from cut-off times. The payments are irreversible once scheduled.

Relevant Contract Types

• Supply Contract
• Purchase Agreement
• Service Agreement
• Consultancy Agreement

Relevant Circumstances

• Fast payment is needed
• Time-sensitive projects
• Immediate payment clearance is necessary

Relevant Sectors

• Retail
• Manufacturing
• Consulting

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Genie Definition 2

Expedited Payments means the mechanism enabling the immediate scheduling and dispatch of payments, doing so electronically or via overnight checks.

Relevant Contract Types

• Supply Contract
• Service Agreement
• Consultancy Agreement
• Collaboration Agreement

Relevant Circumstances

• Deals with tight deadlines
• Projects requiring rapid payment confirmation

Relevant Sectors

• Retail
• Construction
• Consulting
• Technology

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