Common use of OVER/UNDER PAYMENTS Clause in Contracts

OVER/UNDER PAYMENTS. 7.3.1 Any pay due an FCM as a result of an error in their pay deposit or statement shall be corrected as soon as reasonably possible and paid to the FCM by separate cheque or deposit. If an overpayment is paid to an FCM and it is noticed during that pay period, repayment will be made on next pay. If overpayment is not noticed during a pay period then a repayment plan will be offered to the FCM.

OVER/UNDER PAYMENTS. 7.3.1 Any pay due an FCM as a result of an error in their pay deposit or statement shall be corrected reimbursed by the Company as soon as reasonably possible and paid to the FCM by separate cheque or deposit. If an overpayment is paid to an FCM and it is noticed during that pay period, repayment will be made on next pay. If overpayment is not noticed during a pay period then a repayment plan will be offered agreed to by the Company and the FCM.