Common use of Billing and Payment Procedures Clause in Contracts

Billing and Payment Procedures. 6.1 The Bank will only provide companies with Sole Corporate Liability Cards (and/or the Cardholder, as the case may be) with a Master Billing Statement in respect of all charges and fees incurred on the Cards issued pursuant to the Programme. The Master Billing Statement shall, where relevant, state the following information, including but not limited to: (a) the total outstanding balance in Singapore Dollars; (b) the total amount due; (c) the payment due date; (d) the total credit limit for the Company and individual sub- limits for each individual Card Account (as may be applicable); (e) an itemized list of purchases, payments and credits for each Card Account; and (f) if applicable, any other charges or fees as provided for in this Agreement. 6.2 The Master Billing Statement shall be provided by the Bank to the Company on a monthly basis or such other basis that the Bank may determine from time to time. The Company (and/or the Cardholder, if applicable) shall comply with all requirements established by the Bank regarding procedures for remitting payments to the Bank and required information to be included with said payments. It is agreed and understood that failure to comply with the Bank’s specified payment requirements may result in late payment and interest charges as set out in Addendum A being imposed on the Company (and/or the Cardholder if applicable). 6.3 If the Liability Option selected is Sole Corporate Liability, the total outstanding balance shall be paid by the Company in full by the payment due date set out in the Master Billing Statement. If the Liability Option selected is Joint and Several Liability, the total outstanding balance shall be paid by the Cardholder and/or the Company in full by the payment due date set out in the Cardholder’s billing statement (and in the case of the Cardholder) regardless of whether he has been reimbursed by the Company, and both the Cardmember and Company shall have joint and several liability to pay such balance to the Bank. 6.4 The Company must forthwith pay the full account balance (or, in the case where the Liability Option is “Joint and Several Liability”, such other balance as indicated by the Bank) upon the Bank’s demand, which the Bank may make at any time, even if the Bank’s demand is made before the payment due date set out in the Master Billing Statement or in the case of “Joint and Several Liability”, the Cardholder’s billing statement, as may be relevant. 6.5 If the Company (and/or the Cardholder, if applicable) sends a payment that exceeds the amount due, the Bank will reflect the amount of the excess as a credit against future charges. The Company (and/or the Cardholder, if applicable and as the case may be) may request a refund of a credit balance. Charges made in foreign currencies shall be converted as provided in applicable bankcard association rules. 6.6 Without prejudice to the generality of the foregoing and subject to clause 23, if the credit balance on a Card Account is at any time more than S$30,000, (or such other amount as the Bank may from time to time in its discretion determine), the Bank shall be entitled to: (a) transfer all or any part of such credit balance on the Card Account by way of funds transfer to any of the Company’s account(s) with the Bank, provided that if any account(s) that the Company has an outstanding balance(s), such funds will be applied to set-off such outstanding balance(s) first; or (b) pay all or any part of such credit balance by such mode as we determine appropriate including by way of cheque or cashier’s order to the Company. 6.7 The Bank may accept late or partial payments from the Company (even if described as being in settlement of a dispute or if marked “payment in full” or with other restrictive endorsements) without losing any of its rights under this Agreement or the relevant Cardmember’s Agreement wherever applicable.

Billing and Payment Procedures. 6.1 The Bank will only provide companies with Sole Corporate Liability Cards cards (and/or the Cardholder, as the case may be) with a Master Billing Statement in respect of all charges and fees incurred on the Cards issued pursuant to the Programme. The Master Billing Statement shall, where relevant, state the following information, including but not limited to: (a) the total outstanding balance in Singapore Dollars; (b) the total amount due; (c) the payment due date; (d) the total credit limit for the Company and individual sub- sub-limits for each individual Card Account (as may be applicable); (e) an itemized list of purchases, payments and credits for each Card Account; and (f) if applicable, any other charges or fees as provided for in this Agreement. 6.2 The Master Billing Statement shall be provided by the Bank to the Company on a monthly basis or such other basis that the Bank may determine from time to time. The Company (and/or the Cardholder, if applicable) shall comply with all requirements established by the Bank regarding procedures for remitting payments to the Bank and required information to be included with said payments. It is agreed and understood that failure to comply with the Bank’s specified payment requirements may result in late payment and interest charges as set out in Addendum A being imposed on the Company (and/or the Cardholder if applicable). 6.3 If the Liability Option selected is Sole Corporate Liability, the total outstanding balance shall be paid by the Company in full by the payment due date set out in the Master Billing Statement. If the Liability Option selected is Joint and Several Liability, the total outstanding balance shall be paid by the Cardholder and/or the Company in full by the payment due date set out in the Cardholder’s billing statement (and in the case of the Cardholder) regardless of whether he has been reimbursed by the Company, and both the Cardmember and Company shall have joint and several liability to pay such balance to the Bank. 6.4 The Company must forthwith pay the full account balance (or, in the case where the Liability Option is “Joint and Several Liability”, such other balance as indicated by the Bank) upon the Bank’s demand, which the Bank may make at any time, even if the Bank’s demand is made before the payment due date set out in the Master Billing Statement or in the case of “Joint and Several Liability”, the Cardholder’s billing statement, as may be relevant. 6.5 If the Company (and/or the Cardholder, if applicable) sends a payment that exceeds the amount due, the Bank will reflect the amount of the excess as a credit against future charges. The Company (and/or the Cardholder, if applicable and as the case may be) may request a refund of a credit balance. Charges made in foreign currencies shall be converted as provided in applicable bankcard association rules. 6.6 Without prejudice to the generality of the foregoing and subject to clause 23, if the credit balance on a Card Account is at any time more than S$30,000, (or such other amount as the Bank may from time to time in its discretion determine), the Bank shall be entitled to: (a) transfer all or any part of such credit balance on the Card Account by way of funds transfer to any of the Company’s account(s) with the Bank, provided that if any account(s) that the Company has an outstanding balance(s), such funds will be applied to set-off such outstanding balance(s) first; or (b) pay all or any part of such credit balance by such mode as we determine appropriate including by way of cheque or cashier’s order to the Company. 6.7 The Bank may accept late or partial payments from the Company (even if described as being in settlement of a dispute or if marked “payment in full” or with other restrictive endorsements) without losing any of its rights under this Agreement or the relevant Cardmember’s Agreement wherever applicable.

Billing and Payment Procedures. 6.1 The Bank will only provide companies with Sole Corporate Liability Cards cards (and/or the Cardholder, as the case may be) with a Master Billing Statement in respect of all charges and fees incurred on the Cards issued pursuant to the Programme. The Master Billing Statement shall, where relevant, state the following information, including but not limited to: (a) the total outstanding balance in Singapore Dollars; (b) the total amount due; (c) the payment due date; (d) the total credit limit for the Company and individual sub- limits for each individual Card Account (as may be applicable); (e) an itemized list of purchases, payments and credits for each Card Account; and (f) if applicable, any other charges or fees as provided for in this Agreement. 6.2 The Master Billing Statement shall be provided by the Bank to the Company on a monthly basis or such other basis that the Bank may determine from time to time. The Company (and/or the Cardholder, if applicable) shall comply with all requirements established by the Bank regarding procedures for remitting payments to the Bank and required information to be included with said payments. It is agreed and understood that failure to comply with the Bank’s specified payment requirements may result in late payment and interest charges as set out in Addendum A being imposed on the Company (and/or the Cardholder if applicable). 6.3 If the Liability Option selected is Sole Corporate Liability, the total outstanding balance shall be paid by the Company in full by the payment due date set out in the Master Billing Statement. If the Liability Option selected is Joint and Several Liability, the total outstanding balance shall be paid by the Cardholder and/or the Company in full by the payment due date set out in the Cardholder’s billing statement (and in the case of the Cardholder) regardless of whether he has been reimbursed by the Company, and both the Cardmember and Company shall have joint and several liability to pay such balance to the Bank. 6.4 The Company must forthwith pay the full account balance (or, in the case where the Liability Option is “Joint and Several Liability”, such other balance as indicated by the Bank) upon the Bank’s demand, which the Bank may make at any time, even if the Bank’s demand is made before the payment due date set out in the Master Billing Statement or in the case of “Joint and Several Liability”, the Cardholder’s billing statement, as may be relevant. 6.5 If the Company (and/or the Cardholder, if applicable) sends a payment that exceeds the amount due, the Bank will reflect the amount of the excess as a credit against future charges. The Company (and/or the Cardholder, if applicable and as the case may be) may request a refund of a credit balance. Charges made in foreign currencies shall be converted as provided in applicable bankcard association rules. 6.6 Without prejudice to the generality of the foregoing and subject to clause 23, if the credit balance on a Card Account is at any time more than S$30,000, (or such other amount as the Bank may from time to time in its discretion determine), the Bank shall be entitled to: (a) transfer all or any part of such credit balance on the Card Account by way of funds transfer to any of the Company’s account(s) with the Bank, provided that if any account(s) that the Company has an outstanding balance(s), such funds will be applied to set-off such outstanding balance(s) first; or (b) pay all or any part of such credit balance by such mode as we determine appropriate including by way of cheque or cashier’s order to the Company. 6.7 The Bank may accept late or partial payments from the Company (even if described as being in settlement of a dispute or if marked “payment in full” or with other restrictive endorsements) without losing any of its rights under this Agreement or the relevant Cardmember’s Agreement wherever applicable.