Collection Payment Clause Samples
The Collection Payment clause defines the terms under which payments are made only after the collection of funds from a third party, such as a customer or client. In practice, this means that the party responsible for payment is not obligated to pay until they have actually received the corresponding funds, often used in agency or commission-based arrangements. This clause helps manage cash flow and reduces the risk for the paying party by ensuring they are not out of pocket before receiving payment themselves.
Collection Payment in accordance with the terms and conditions set forth in the Agreement the Bank: (a) issues the Commercial Document against payment or performance of other terms and conditions by the Remittee and (b) transfers the Collection Amount or/and Document (if any) from the Remittee to the Customer.
Collection Payment. Buyer shall deliver to Shareholders at least thirty (30) days prior to each Collection Payment Date, calculations setting forth in reasonable detail the calculation of the Collection Payment for the applicable six (6) calendar month period and the Collection Payment