Common use of Notification of payments Clause in Contracts

Notification of payments. 16.1 When making payments, the Cascading Partner will notify the total amount of the financial support and the single instalment amounts due specifying whether it concerns a down payment, an interim payment or the final payment of the balance. 16.2 In case of reduction of the Financial Support or recovery of undue amounts, the notification will be preceded by the contradictory procedure.

Notification of payments. 16.1 When making payments, the Cascading Partner will notify the total amount of due to the financial support and the single instalment amounts due Selected Third Party specifying whether it concerns a down payment, an interim payment or the final payment of the balance. 16.2 For the interim and the final payment of the balance, the notification will also specify the amount of the final Financial Support accepted. 16.3 In case of reduction of the Financial Support or recovery of undue amounts, the notification will be preceded by the contradictory procedure.