Understanding the Legal Implications of Payments Settlement

When is a payment really final? And why does it matter? From the Uniform Commercial Code to the Expedited Funds Availability Act to complex network rules, the concept of settlement sits at the heart of many legal and contractual obligations in the payments world. This session will demystify what it means for a payment to 'settle,' exploring when settlement occurs, how it differs across payment types and why it's so critical for legal compliance and risk management. We'll dive into the legal ripple effects of settlement, including warranties, final payment rules, funds availability, stop payments, and chargebacks. You'll also learn what happens when settlement breaks down, and what to watch for when negotiating payment contracts. Whether you're on the legal, operations, or product side of payments, this session is your roadmap to getting settlement right.