Pennsylvania Sample Letter regarding Order to Disburse Funds
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FAQ
Disbursement Order ? a payment order or freeform request for a transfer of funds, signed and formatted in form and substance satisfactory to the Bank.
Disbursement?or payment disbursement?is the delivery of payment from a business's bank account to a third party's bank account. The disbursement meaning refers to a range of payment types, including cash, electronic funds transfer, checks, and more.
Verb. To disburse an amount of money means to pay it out, usually from a fund which has been collected for a particular purpose. [formal]
Disbursements are payments in cash or cash equivalents. In comparison, reimbursement refers to the actual payment to cover the original disbursement. For example, when attorneys pay expenses on behalf of a client, the money paid to a third party is a disbursement.
'Disbursed funds' is referring to getting money from point A to point B, whether that point is an individual or an institution. With regards to consumer finance, this involves the transfer of money from the lender or bank to the merchant. The money is expected to be delivered within a fixed timeframe.
