Common use of Bank Wire Transfer Clause in Contracts

Bank Wire Transfer. The Bank wire transfer fees are paid by the sending party i.e. Registrar, and not the receiving party i.e. the Registry (RICTA). The amount transferred is credited to the account of the Registrar upon the reception of the proof of payment to ease and quicken the fund provisioning process. This approach is implemented to help the Registrar to do business (registration, renewal, etc.). The proof of payment is an official document received from the bank that proves the payment was executed, and it can be sent via e- Mail (PDF format preferred) to RICTA finance department at the email: xx-xxx@xxxxx.xxx.xx. In the event the Registrar has not paid the wire transfer fees, and the corresponding Registry account having been credited the full amount, then the Registrar's Registry account shall be debited with the corresponding amount charged by the Bank.

Bank Wire Transfer. The Bank wire transfer fees are paid by the sending party i.e. Registrar, and not the receiving party i.e. the Registry (RICTA). The amount transferred is credited to the account of the Registrar upon the reception of the proof of payment to ease and quicken the fund provisioning process. This approach is implemented to help the Registrar to do business (registration, renewal, etc.). The proof of payment is an official document received from the bank that proves the payment was executed, and it can be sent via e- e-Mail (PDF format preferred) to RICTA finance department at the email: xx-xxx@xxxxx.xxx.xx. In the event the Registrar has not paid the wire transfer fees, and the corresponding Registry account having been credited the full amount, then the Registrar's Registry account shall be debited with the corresponding amount charged by the Bank.