Common use of Billing and Payment Methods Clause in Contracts

Billing and Payment Methods. 19.1 The Customer shall receive in paper or elec- tronic format a monthly statement for the outstand- ing balance, consisting of the claims arising from the Transactions processed in the past statement period, plus Interest Charges, Fees and outstanding amounts carried forward from earlier monthly state- ments. The indication of the balance on the monthly statement does not result in an objective novation of the debt. Unless otherwise agreed (i.e., in par- ticular, unless an installment facility was agreed on), the entire statement amount must be received by Swisscard by no later than the payment due date indicated on the monthly statement. In case of a DD arrangement, the DD shall be collected prior to the payment due date. Swisscard reserves the right not to send a statement if no Transactions occurred in the billing month and the balance is zero. 19.2 The outstanding statement amount must be settled using a payment method acceptable to Swisscard. The Customer may pay the outstanding amount as follows: a. payment of the entire statement amount by the deadline specified on the monthly state- ment; b. in addition, for Credit Cards with an install- ment facility: (i) payment in variable monthly installments, in an amount set for each state- ment by the Customer himself, by the deadline specified on the monthly statement, provided that at least the minimum payment is made according to the installment facility arrange- ment; or (ii) payment in fixed installments in an amount agreed on in advance with Swiss- card (for the full statement amount or certain Transactions).