Instalment Plans Sample Clauses
The Instalment Plans clause sets out the terms under which payments for goods or services are divided into multiple scheduled payments rather than being paid in a single lump sum. Typically, this clause will specify the number of instalments, the amount and due dates for each payment, and any consequences for late or missed payments, such as interest charges or penalties. By clearly outlining the payment schedule and obligations, this clause helps both parties manage cash flow and reduces the risk of disputes over payment timing or amounts.
Instalment Plans. An instalment plan allows you to pay for a new purchase or all or part of your balance by paying a certain number of fixed monthly instalment payments. You may be able to set up an instalment plan when you make a purchase online using your card or by going to online account manager. We will let you know if you can do this. We will let you know what the monthly instalment payment is before we set up the plan. We will work this out by taking the purchase or balance that you are considering putting into the plan, calculating the interest that will be due and then working out how much you will need to pay each month over the period you have chosen. The monthly instalment payment for each of the instalment plans you have set up will then be shown in your statement. The number or amount of a monthly instalment payment may be reduced or increased to reflect refunds and overpayments or late payments. You cannot change an instalment plan once we have set it up. You may cancel an instalment plan by contacting us. If you cancel an instalment plan, the balance will become part of your standard purchase balance. See How much do you have to pay each month? and What interest rates and fees do you have to pay? for more information about instalment plans. How do you authorise transactions? When you make (or any additional cardholder makes) a transaction you must authorise it before we can add it to your account. No-one else may use your card. Ways you can use your account How do you authorise transactions? Paying for goods and services at a supplier when you are present e.g. in a shop The supplier will tell you what steps are needed to authorise payment. This could be by signing, by using the PIN we give you to use with your card, biometric data (such as fingerprint) or other security details we may tell you about. You may be able to use your card contactlessly by presenting your card to the contactless reader. You may be asked for other security details after you have made a certain number of contactless transactions. Paying for goods and services at a supplier when you are not present e.g. online Using your card number and/or other information requested by or on behalf of the person you are paying, for example a security number, passcode or password. Making regular, for example monthly, payments to a supplier. This could be for gym membership or TV packages or insurance Provide your card details to the supplier. It is important to remember that if you want to cancel the ...
Instalment Plans. We may allow you to convert an eligible Charge into an Instalment Plan, on agreed terms. If a Charge is eligible for an Instalment Plan, the applicable terms, including interest rate, any fees and the repayment period will be presented to you at the time you convert the Charge into an Instalment Plan. If you agree to the terms, the Charge will be converted into an Instalment Plan. The monthly Statement for your Card will show the amount of the Charge as a Purchase, and it will also show a credit in the same amount as the Charge, as the credit represents the amount that has been converted to an Instalment Plan. Your available Credit Limit will be reduced by the amount of the Charge that has been converted to an Instalment Plan but, as you make your Instalment Plan payments, your available Credit Limit will increase, in each case, by the corresponding payment amount. Your Instalment Plan payments will not form part of the New Balance or your Minimum Payment but it is important to pay both your Minimum Payment and your Instalment Plan payments to keep your Card Account in good standing. We may cancel any Instalment Plan in certain circumstances, and you may cancel your Instalment Plan, all of which is detailed in the terms associated with the Instalment Plan that you agree to at the time of conversion.
Instalment Plans. 7.1 We may from time to time offer you an Instalment Plan. If we tell you that a balance or transaction is eligible to move to an Instalment Plan, there will be a limited period in which you can create the Instalment Plan.
7.2 When you create an Instalment Plan, we will move the relevant amount from your main balance to the Instalment Plan. If a Fee is applicable, this will be added to your Instalment Plan. We will calculate your monthly Instalment Plan payments based on the length of the Instalment Plan you have chosen.
7.3 If your entire Balance Outstanding is subject to one or more Instalment Plans and you pay more than the total monthly Instalment Plan payment(s) due, we will apply the extra amount to pay off Instalment Plan balances charged at higher rates of interest before those at lower rates. If any Instalment Plans are charged at the same rate, we will use your payment to pay off the Instalment Plan with the earliest start date first. This will reduce the length of time the relevant Instalment Plan is in place and may reduce the final Instalment Plan payment amount. If we apply credit towards your Instalment Plan(s), you will still need to make your next month’s Instalment Plan payment on time and in full if you want to avoid risk of incurring a Late Payment Fee and your Instalment Plan(s) being cancelled (see section 7.4 below).
7.4 You have the right to cancel an Instalment Plan at any time. If you cancel an Instalment Plan, or if your monthly payment is not sufficient to pay one or more Instalment Plan payments in two consecutive Monthly Statement Periods, the balance that was previously subject to the relevant Instalment Plan will move back to your standard balance. This means that interest will be charged on the balance at the standard rate, and from your next statement your Minimum Repayment will be calculated in the normal way.
7.5 If you breach your Agreement with us, we will cancel any Instalment Plan(s) on your Account and section
7.4 will apply.
Instalment Plans. The School may agree that the fees that are or will fall due in relation to any term can be paid in instalments. If we agree to do this, then the School and those responsible for paying those fees will agree separately in writing the anticipated schedule of instalments by which the deferred amount of each term's invoice is to be paid. The agreed amount for each term will need to be paid by formal direct debit in not more than four (4) instalments (unless otherwise agreed in writing by the School) within a period that does not exceed twelve (12) months (beginning with the date of the relevant invoice). More details of how to join the direct debit scheme are available on the website of by contacting the fees’ secretary.
Instalment Plans. An Eligible Cardholder may enroll an Eligible Purchase in an Instalment Plan under certain conditions. Enrolling an Eligible Purchase in an Instalment Plan does not change the Credit Limit on the Card and rewards (such as points or cash back rewards, as applicable) earned on the Eligible Purchase will not be lost. Participation to an Instalment Plan is voluntary.
Instalment Plans. Instalment Plans allow you to offer your customer the ability to make a purchase from you and pay you for that purchase in 4 or fewer instalments within twelve months of the purchase date. As a condition of your use of Instalment Plans, you must comply with all of the following requirements:
i. You must obtain your customer’s prior express consent to charge in instalments for a purchase.
ii. You may not charge in more than four instalments per purchase.
iii. You shall ensure that the period of an Instalment Plan expires no later than 12 months from the date of the purchase that gave rise to it.
iv. You may not charge your customer for the first payment of the Instalment Plan until you have shipped to your customer the goods that are the subject of the purchase.
v. The total sum payable under an Instalment Plan may not exceed the total price of the purchase that gives rise to the Instalment Plan (being the price of the goods plus any tax and shipping fees as applicable).
vi. You may not apply any finance charges (including, without limitation, interest) in connection with the purchase.
Instalment Plans. An instalment plan allows you to pay for a new purchase or all or part of your balance by paying a certain number of fixed monthly instalment payments. You may be able to set up an instalment plan when you make a purchase online using your card or by going to online account manager. We will let you know if you can do this. We will let you know what the monthly instalment payment is before we set up the plan. We will work this out by taking the purchase or balance that you are considering putting into the plan, calculating the interest that will be due and then working out how much you will need to pay each month over the period you have chosen. The monthly instalment payment for each of the instalment plans you have set up will then be shown in your statement. The number or amount of a monthly instalment payment may be reduced or increased to reflect refunds and overpayments or late payments. You cannot change an instalment plan once we have set it up. You may cancel an instalment plan by contacting us. If you cancel an instalment plan, the balance will become part of your standard purchase balance. See How much do you have to pay each month? and What interest rates and fees do you have to pay? for more information about instalment plans.