Common use of Claims Statement Clause in Contracts

Claims Statement. (a) In respect any amount which is due as payments for Imbalance Quantities under Clause 6.3, Ship or Pay under Clause 6.1.1(a)(iv), Liquidated Damages under Clause 7.2, liability for failure to meet Specification under Clause 7.7, or any indemnity claims under Clause 14 but which is not an invoiced amount pursuant to Clause 8.1, the Party to whom such amount is owed may serve on the other Party a written statement specifying the sums owed in satisfaction of the claim, including the details in support of such claim (the “Claims Statement”). Such sums which shall be the subject to this Clause 8.12 may include amounts due but which have not been invoiced under a CT Agreement. (b) The Party receiving a Claims Statement shall pay any such sums if relating to Imbalance Quantities under Clause 6.3 as specified in the Claims Statement which are due and payable under the relevant CT Agreements within 4 (four) Working Days after the amount of the owing Party’s liability to the other has been fully ascertained in accordance with the relevant CT Agreements. If the owing Party fails to make a payment to the other Party within such period of 4 (four) Working Days, such overdue payment shall bear Interest from the expiry of the 4 (four) Working Day period until the date upon which payment is made. (c) The Party receiving a Claims Statement shall pay any such sums if relating to Liquidated Damages under Clause 7.2 or liability to meet specification under Clause 7.6 as specified in the Claims Statement which are due and payable under the relevant CT Agreement within 20 Working Days after the amount of the owing Party’s liability to the other has been fully ascertained in accordance with the relevant CT Agreement. If the owing Party fails to make a payment to the other Party within such period of 20 Working Days, such overdue payment shall bear Interest from the expiry of the 20 Working Day period until the date upon which payment is made. (d) The Party receiving a Claims Statement shall pay any sums relating to indemnity claims under Clause 14 as specified in the Claims Statement which are due and payable under the relevant CT Agreement within a reasonable period of time after the amount of the owing Party’s liability to the other has been fully ascertained in accordance with the relevant CT Agreement.

Claims Statement. (a) In respect of any amount which is due as payments for Imbalance Quantities under Clause 6.3, clause 5.2 or Ship or Pay pay under Clause 6.1.1(a)(iv)clause 5.1.1, Liquidated Damages under Clause 7.2clause 6.2, liability for failure to meet Specification Specifications under Clause 7.7clause 6.6, or any indemnity claims under Clause 14 clause 13 but which is not an invoiced amount pursuant to Clause 8.1clause 7.1, the Party to whom such amount is owed may serve on the other Party a written statement specifying the sums owed in satisfaction of the claim, including the details in support of such claim (the “Claims Statement”). Such sums which shall be the subject to this Clause 8.12 clause may include amounts due but which have not been invoiced under a CT Agreementinvoiced. (b) The Party receiving a Claims Statement shall pay any such sums if relating to Imbalance Quantities under Clause 6.3 clause 5.2 as specified in the Claims Statement which are due and payable under the relevant CT Agreements within 4 seven (four7) Working Days after the amount of the owing Party’s liability to the other has been fully ascertained in accordance with the relevant CT Agreements. If the owing Party fails to make a payment to the other Party within such period of 4 seven (four7) Working Days, such overdue payment shall bear Interest from the expiry of the 4 seven (four7) Working Day period until the date upon which payment is made. (c) The Party receiving a Claims Statement shall pay any such sums if relating to Liquidated Damages under Clause 7.2 clause 6.2 or liability to meet specification Specifications under Clause 7.6 clause 6.6 as specified in the Claims Statement which are due and payable under the relevant CT Agreement within 20 Working seven (7) Days after the amount of the owing Party’s liability to the other has been fully ascertained in accordance with the relevant CT Agreementcontract. If the owing Party fails to make a payment to the other Party within such period of 20 Working seven (7) Days, such overdue payment shall bear Interest as mutually agreed from the expiry of the 20 Working seven (7) Day period until the date upon which payment is made. (d) The Party receiving a Claims Statement shall pay any sums relating to indemnity claims under Clause 14 clause 13 as specified in the Claims Statement which are due and payable under the relevant CT Agreement GTA within a reasonable period of ten days (10) days of time after the amount of the owing Party’s liability to the other has been fully ascertained in accordance with the relevant CT Agreementascertained.