Common use of Payment Entrustment Clause in Contracts

Payment Entrustment. The borrower shall clearly specify the payment entrustment in the withdrawal application, that is, to authorize and entrust the lender to directly pay the loan funds to the borrower’s designated counterpart after transferring the loan funds into the borrower’s account. The borrower shall also provide the name of the recipient, the counter party’s account, payment amount and other necessary payment information.

Payment Entrustment. The borrower shall clearly specify the payment entrustment in the withdrawal application, that is, to authorize and entrust the lender to directly pay the loan funds to the borrower’s 's designated counterpart after transferring the loan funds into the borrower’s 's account. The borrower shall also provide the name of the recipient, the counter party’s account, payment amount and other necessary payment information.