Entrusted payment Clause Samples

Entrusted payment. 3.4.3.1.1 The Borrower may entrust the Lender to pay the loan to a counterparty of the Borrower for such purpose as specified in the Agreement or in the commercial contracts relating to the use of loan under any of the following circumstances: (1) the payee is clearly specified and the amount of each utilisation shall exceed RMB ten million (or an equivalent amount in foreign currency); (2) Other circumstances agreed by the parties hereto: -- 3.4.3.1.2 If the loan is paid by entrustment, the Borrower shall deliver its utilisation request and the Entrusted Payment Notice to the Lender five days in advance, and provide the relevant information such as the commercial contracts, invoices and other evidences relating to the use of loan upon request of the Lender. After verification by the Lender, the Lender shall directly pay the loan to the counterparty of the Borrower through the account of the Borrower. If the utilisation request of the Borrower does not meet the conditions of utilisation under the Agreement, or the entrusted payment request is contrary to the Agreement, or the transaction information is incomplete or untrue, the Lender may refuse to grant or pay such loan; and the Lender shall not be liable for the breach of contract by the Borrower arising therefrom or any other losses so incurred. The Lender shall not be held liable if the payment information provided by the Borrower is incorrect or incomplete that results in delay or failure of payment. 3.4.3.1.3 If the Borrower applies for deferred payment or revokes the entrusted payment, it shall notify the Lender in writing before the payment is made by the Lender. After verification by the Lender, the Lender may then terminate the entrusted payment and recover the corresponding loan; and the interest for such period shall be calculated at a rate specified in the Agreement. If, after termination of the entrusted payment, the Borrower applies for resumption of the entrusted payment, the relevant procedures set out in Clause 3.4.3.1.2 shall apply. 3.4.3.1.4 The entrusted payment shall be unconditional. Even if the Borrower has set out conditions on the Entrusted Payment Notice, such conditions shall not constitute an obligation of the Lender. Unless otherwise agreed by the parties in writing, the Lender shall not be obliged to notify the payee in respect of the entrusted payment, deferred payment, revocation or resumption of payment and other related matters. 3.4.3.1.5 If the loan is paid by entrustmen...

Entrusted payment. In case where payment is in compliance with the conditions of entrusted payment method, the Borrower shall clearly include in its drawdown application such entrust, which shall authorize and entrust the Lender to transfer to drawdown of the Loan from the Borrower’s account to the bank account of the trading party for which the purpose of the Loan is in compliance with the conditions under this Contract, and shall include the name, account number and amount of the payment of the trading party, which is necessary for the entrusted payment.

Entrusted payment. 1.1 Party A entrusts Party B to make the payment and Party A and Party B agree that Party B shall make such payment according to the actual situation of Party C.

Entrusted payment. If a single payment amount of the loan funds exceeds RMB ZERO YUAN (in words), the Lender shall be entrusted to make the payment. The Lender shall, upon approval, pay the loan funds to the Borrower’s trading partner through the Borrower’s account according to the Borrower’s payment power of attorney, corresponding payment vouchers, business contracts and other supporting materials.

Entrusted payment. Method of entrusted payment should be used in one of the following situations that: i. the Borrower and the Lender have newly established a credit business relationship and the internal rating of the Borrower at the Lender is below B3(included). “Newly established credit business relationship” means a credit business relationship established by the Borrower and the Lender for the first time or no credit business relationship occurs during the last 2 years.

Entrusted payment. (1) When handling the entrusted payment, Party A shall open or designate a special account at Party B to handle the entrusted payment matters. (2) When handling the entrusted payment, Party A shall provide Party B with the information of its loan account and payment object account and each withdrawal of the supporting materials that the withdrawal conforms to the agreed ▇▇▇▇▇▇▇.▇▇▇▇▇ A shall guarantee that all the materials provided to Party B are true, complete and valid. (3) When handling the entrusted payment, Party B shall only provide the information of the payment object and the financing purpose supporting materials provided by Party A Party B shall review the materials. If Party B fails to complete the entrusted payment in time due to the untrue, inaccurate and incomplete information provided by Party A, Party B shall not bear any responsibility. (4) Party B finds any inconsistency or other defects in the use certification materials provided by Party A, etc Right to require Party A to supplement, replace, explain or resubmit relevant materials before Party A submits the materials satisfactory to Party B Have the right to refuse the payment and payment of the relevant funds. (5) According to the different financing purposes of Party A, Party B shall have the right to request Party A, the independent intermediary agency and other relevant parties to issue a total Party B shall issue and pay the financing funds with the visa form and other relevant supporting materials. (6) After examination, Party B considers that the information provided by Party A is consistent with the agreed financing purpose and the withdrawal complies with the financing contract For the specified preconditions, the financing funds shall be transferred to the account designated by Party A first, and then the corresponding funds shall be transferred to the payment object account of Party A according to the needs and the relevant business vouchers submitted by Party A. (7) In any of the following circumstances, Party B shall have the right to redetermine the financing issuance and payment conditions, or stop the financing payment: 1. Party A provides false or invalid information to Party B to obtain financing; 2. Party A has suffered major adverse changes in production and operation, declining credit status or default under the financing contract; 3. If the financing fund is used for fixed assets investment, the project progress lags behind the use progress of funds; 4. Party A fa...

Entrusted payment. If the single payment amount of the loan exceeds __/_ million RMB (in words), it will be made through the lender’s entrusted payment method. The lender will review and approve the borrower’s payment authorization letter along with corresponding payment vouchers, business contracts, and other supporting documents before transferring the loan funds to the borrower’s transaction counterpart via the borrower’s account.

Entrusted payment. Where the single payment amount exceeds RMB ____ (handwritten in original), entrusted payment shall be adopted. The Borrower shall provide the payment instruction and supporting payment documents (including but not limited to trade contracts). Upon approval, the Lender will transfer the funds from the Borrower’s account to the Borrower’s counterparty.

Entrusted payment. Party A submits a Payment Request and related documents to Party B in accordance with the requirements set out in Appendix IV herein; if the request is approved, Party B will pay the relevant sums to a transaction party of Party A for the purpose described in this Contract, in accordance with Party A’s payment request and payment entrustment. If the amount of a single payment requested by Party A is more than 5% of the total investment of the fixed-asset investment project or is in excess of RMB 5 million yuan, Party A shall use Entrusted Payment.