Fixed Spending Limits Sample Clauses
A Fixed Spending Limits clause sets a predetermined maximum amount that can be spent under a contract or agreement. This clause typically applies to budgets for projects, services, or procurement, ensuring that expenditures do not exceed the agreed-upon cap unless both parties formally agree to an amendment. By establishing clear financial boundaries, the clause helps prevent cost overruns and provides both parties with certainty and control over financial commitments.
Fixed Spending Limits. 15.1 The fixed Spending Limit defined by Swiss- card applies to the Principal Card and Additional Cards combined. Swisscard may set a combined Spending Limit (global limit) for several Cards is- sued as a package (bundle). The Spending Limit is notified to the Customer in the declaration of ac- ceptance (see 2.2), appears on the monthly state- ment and, if applicable, in Swisscard’s Online Services, and can be requested from Swisscard’s customer service at any time. The limit on cash withdrawals may be lower than the fixed Spending Limit.
15.2 Debits to the Card Account reduce the avail- able balance under the fixed Spending Limit. The Customer may only use the Card up to the fixed Spending Limit. If the fixed Spending Limit is ex- ceeded, Swisscard may declare the amounts owed due and payable immediately.
Fixed Spending Limits. The spending limits set by the Issuer are a com- bined limit for the principal card and additional card(s) together. The Issuer may set a spending limit (global limit) for several cards issued as a package (bundle). The Issuer may change spending limits at any time without stating any reasons. Outstanding credit card balances reduce the established spend- ing limits accordingly. The Client may use the card only within the established spending limit. The Issu- er may request immediate payment of the amounts owed if spending limits are exceeded.