Common use of PAYMENT OF INSTALLMENT Clause in Contracts

PAYMENT OF INSTALLMENT. Any and all payments under this Contract shall be made by the BUYER to the SELLER’s duly designated representative/assignee with its principal place of business at Insert address here. It is hereby agreed and expressly understood that any and all payments made by the BUYER through the BUYER’s broker or sales agent or any person other than the SELLER’s duly authorized representative/assignee, shall be the sole risk and responsibility of the BUYER, and no receipt other than that of the SELLER’s duly authorized representative/assignee, signed by the authorized signatory/ies of the latter and issued by the said cashier, shall be recognized as evidence of payment to the SELLER.