Common use of Funds Payment Clause in Contracts

Funds Payment. With the lender’s approval, for a single payment amount exceeding 1 million RMB, the payment will be made through a trustee payment method. The lender may directly transfer the corresponding amount to the borrower’s designated account based on the payment authorization submitted by the borrower, who must also provide relevant documentation proving the use of the loan funds. If the borrower uses the lender's trustee payment method, the borrower must not reallocate the payment amount for other uses and should promptly confirm whether the payee has actually received the corresponding amount. Any disputes and losses arising from the borrower reallocating the payment amount for other uses, leading to the lender's inability to complete the trustee payment, or the borrower failing to promptly confirm the payee's receipt of funds, will be borne by the borrower.For amounts below the aforementioned threshold or if the conditions for trustee payment are not met, the borrower will use a self-payment method. If a single or cumulative self-payment amount exceeds 1 million RMB and aligns with the original loan contract and the purposes listed in the "Withdrawal Application," then payments exceeding 1 million RMB after this threshold will require lender approval before proceeding with payment. If there is a significant mismatch in the loan purpose and the borrower cannot explain the reason for the change, the lender will not process the payment.

Funds Payment. With the lender’s approval, for a single payment amount exceeding 1 million RMB, the payment will be made through a trustee payment method. The lender may directly transfer the corresponding amount to the borrower’s designated account based on the payment authorization submitted by the borrower, who must also provide relevant documentation proving the use of the loan funds. If the borrower uses the lender's trustee payment method, the borrower must not reallocate the payment amount for other uses and should promptly confirm whether the payee has actually received the corresponding amount. Any disputes and losses arising from the borrower reallocating the payment amount for other uses, leading to the lender's inability to complete the trustee payment, or the borrower failing to promptly confirm the payee's receipt of funds, will be borne by the borrower.. For amounts below the aforementioned threshold or if the conditions for trustee payment are not met, the borrower will use a self-payment method. If a single or cumulative self-payment amount exceeds 1 million RMB and aligns with the original loan contract and the purposes listed in the "Withdrawal Application," then payments exceeding 1 million RMB after this threshold will require lender approval before proceeding with payment. If there is a significant mismatch in the loan purpose and the borrower cannot explain the reason for the change, the lender will not process the payment.