Common use of Electronic Settlement Clause in Contracts

Electronic Settlement. If settlement is to be conducted through the system operated by Property Exchange Australia Ltd for settlement of conveyancing transactions, the Seller and the Buyer will be taken to have complied with clause 29.3 if the electronic settlement schedule within the electronic workspace used for Settlement specifies payment of the GST Withholding Amount to the account nominate by the Commissioner.

Electronic Settlement. If settlement is to be conducted through the system operated by Property Exchange Australia Ltd for settlement of conveyancing transactions, the Seller and the Buyer will be taken to have complied with clause 29.3 36.3 if the electronic settlement schedule within the electronic workspace used for Settlement specifies payment of the GST Withholding Amount to the account nominate by the Commissioner.