Common use of Change of Payment Method Clause in Contracts

Change of Payment Method. For independent payments, if the conditions of borrower’s external payment or credit rating changes after the withdrawal application is submitted, the payment method of the loan fund shall be changed if the payment meets the conditions specified in Item (2) of paragraph 2 in this article. The borrower is required to provide the lender with a written application for any changes in the payment method, to submit a new withdrawal application with relevant documents.

Change of Payment Method. For independent paymentsAfter submitting the application for withdrawal, if the conditions of borrower’s external payment or and credit rating changes after change, and the withdrawal application is submittedconditions of the loan funds meet Item (2) of paragraph 2 of this Article, the payment method of the loan fund funds shall be changed if changed. If the amount of external payment, payment object and purpose of the loan change under the payment meets method or entrusted payment method change, the conditions specified in Item (2) of paragraph 2 in this article. The borrower is required to shall provide the lender with a written explanation for the change application and resubmit the application for any changes in withdrawal and the payment method, to submit a new withdrawal application with relevant documentstransaction materials proving the purpose of the funds.