Payment Supervision Sample Clauses

Payment Supervision. 1. The Borrower agrees that the Lender has the right to manage and control the payment of the loaned fund through the the methods of entrusted payment by Lender or direct payment by Borrower in accordance with this contract, in order to supervise that the loaned capital is used for the purposes stipulated in this contract. Entrusted payment by Lender means that the Lender, upon the Borrower’s withdrawal applications or payment entrustment, pays the loaned fund to the business counterpart of the Borrower with the usage stipulated in this contract through the Borrower’s account. Direct payment by the Borrower means that the Lender grants the loaned fund into the Borrower’s account based on the withdrawal application; the Borrower pays directly to the counterpart with the usage stipulated in this contract. 2. The Borrower agrees that, if the Lender and the Borrower have newly established a credit business relation and the Borrower has a common credit status, or the payee is specific and a single payment amounts over the stipulated amount (refer to Part One of this contract), or other situations confirmed by the Lender, shall apply Entrusted payment by Lender. When Entrusted payment by Lender., the Lender has the right to check whether the payee, paying amount etc. stated by the Lender are in conformity with the certifying documents such as the business contract, in the light of the loan usage stipulated in the loan contract. If it is agreed after the checking, the Lender pays the loaned fund to the business partner of the Lender through the account of the Borrower. 3. When the Borrower applies with the Lender for a outgoing payment, he shall submit the requested certifying documents, including but not limited to: (1) What certifies the usage of the payment is in conformity with the usage stipulated in this contract; (2) Business contract and written documents that truly reflects the paying obligations of the Lender; (3) If a receipt is not obtained at the time of payment, the Borrower shall make the and provide it after the payment is done. (4) Legal and effective paying certificate. (5) Other documents to be submitted as requested by the Lender. 4. If a specific circulating fund account is not opened, the Borrower shall submit a withdrawal application to the Lender 3 banking days before the planned withdrawal, and indicate to apply entrusted payment by Lender or direct payment by the Borrower. The Borrower agrees that, the Lender has the right to check wheth...
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Payment Supervision. 1. The Borrower agrees that, the Creditor is entitled to perform management and control for the payment of the loan capital through the ways of “payment by the creditor upon authorization” or/and “payment by borrower itself”, so to supervise the usage of the loan is in accordance with this Agreement. The expression “payment by the creditor upon authorization” refers to the act that the Creditor pays the loan fund to the counterparty of the Borrower in a transaction conforming to the purpose stipulated in the Agreement according to the Borrower’s application for drawing money and its payment authorization. The expression “payment by the borrower itself” refers to the act that the Borrower pays the loan fund to the counterparty of the Borrower in a transaction after the loan fund is granted by the Creditor to the Borrower’s account upon its application for withdrawal. 2. The Borrower agrees that, if the business relationship of credit loan between the Borrower and the Creditor is newly established, and the credit status of the Borrower is ordinary, or a single payment exceeds the amount agreed in this Agreement (see Part 1 of this contract), or other conditions determined by the Creditor happen, the payment of loan shall be through the way “payment by the creditor upon authorization”. In the case of payment by the creditor upon authorization, the Creditor shall, prior to the granting of the loan fund, examine whether the relevant transaction materials conform to the conditions as stipulated in the Agreement. After examination and consent, it shall pay the loan fund to the counterparty of the Borrower in the transaction through the Borrower’s account. 3. When the loan capital is required for payment externally by the Borrower, the proof materials that comply with the requirement should be submitted to the Creditor, which should include but not limit to: (1) The proof material for the intended use of loan agreed in this Agreement; (2) Business contract and other written documents that may truly represent the payment obligation of the Borrower. If a charge with no contract required must be paid, the policy and standard for charge approved by an authority shall be provided. (3) The corresponding invoice and receipt, if it might not be obtained at the time of payment, the Borrower should submit the invoice and receipt timely following the completion of payment; (4) legal and effective payment note; (5) Other documents required by the Creditor. 4. The Borrower sha...
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Payment Supervision. 5.1 Party A agrees that Party B has the right to monitor and control the entrusted payment or direct payment, to ensure the use of the loan is within the scope of agreed purpose. Entrusted payment is the payment method where Party B will, upon and in accordance with drawdown application and payment entrustment issued by Party A, pay the proceeds of the financing to the relevant payees of Party A for agreed purposes. Direct payment is the payment method where Party B will, upon the drawdown application issued by Party A, pay the proceeds of the financing to Party A’s account and Party A will make the payment directly to the relevant payees of Party A for agreed purposes. 5.2 Party A agrees that if the credit relationship is newly set up and Party A has normal credit standing, or the payment exceed the agreed amount (see Part I)under this Contract, or any other possible situation, the entrusted payment method will be used. In relation to entrusted payment, Party A shall, upon each drawdown, provide Party B with information of its own designated account to receive the financing and payee's account, payment amount and relevant supporting documents to prove that such drawdown is for the agreed purposes. Party B will carry out review on information provided by Party A to ensure all the information is consistent with the commercial Contract. When the review completed, Party B shall, through the account designated by Party A, transfer relevant amount to the accounts of Party A's payees as required 5.3 Party A shall submit the certified materials required by Party B when payment is applied. 5.3.1 Document to certify that the payment is within the scope of purpose. 5.3.2 Commercial Contract or the written documents which reflects the payment obligation of Party A. As for the payment without Contract, Party A shall submit the payment policy or standard approved by authorized department.
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Payment Supervision. 1. The Borrower agrees that the Lender shall have the right to manage and control payments with the loan amount through the entrusted payment by the Lender and/or direct payment by the Borrower, to supervise the use of the loan for the purposes as specified herein. Entrusted payment by the Lender means that the Lender, according to the Borrower's withdrawal application and payment entrustment, pays the loan amount, through the Borrower's account, to the counterparty of the Borrower in a transaction that meets the purposes as specified herein. Direct payment by the Borrower means that, after the Lender disburses the loan amount to the Borrower's account according to the Borrower's withdrawal application, the Borrower pays the loan amount to the counterparty in a transaction that meets the purposes as specified herein. 2. The Borrower agrees that if the Borrower with an average credit standing establishes a new credit business relationship with the Lender, or if the payee is specific and the amount of a single payment with the loan amount exceeds the amount as specified herein (see Part I hereof), or under any other circumstances determined by the Lender, the mode of entrusted payment by the Lender shall be adopted. Under the mode of entrusted payment by the Lender, the Lender shall have the right to examine, according to the purposes of the loan as specified herein, whether the payee, payment amount and other information indicated on the Payment Application Form provided by the Borrower are consistent with the relevant business contract and other supporting materials. If the Lender approves such application after examination, it will pay the loan amount to the Borrower's counterparty through the Borrower's account. 3. When applying to the Lender for an external payment with the loan amount, the Borrower shall submit supporting materials that meet the Lender's requirements, including but not limited to: (1) a document proving that the purpose of payment complies with the purposes as specified herein; (2) a business contract and a written document truthfully reflecting the Borrower's payment obligation; or charging policies and standards approved by the competent authority in case of necessary payment without signing a contract; (3) the corresponding invoice or receipt (if such invoice or receipt cannot be obtained at the time of payment, the Borrower shall promptly provide the same after completion of payment); (4) a legal and valid payment voucher; and (5) ...
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Related to Payment Supervision

  • Student Supervision Central Issues as they affect Occasional Teacher Workload

  • CONTRACTOR SUPERVISION Contractor shall provide competent supervision of personnel employed on the job Site, use of equipment, and quality of workmanship.

  • Board Supervision All of the functions undertaken by the Investment Manager hereunder shall at all times be subject to the direction of the Board of Directors, its executive committee, or any committee or officers of the Company acting under the authority of the Board of Directors.

  • Supervision of Contractor Personnel The Contractor must supply all necessary and sufficient supervision over the work that is being performed and will be held solely responsible for the conduct and performance of his employees or agents involved in work under the Agreement.

  • COMPETENT SUPERVISORY AUTHORITY Identify the competent supervisory authority/ies in accordance with Clause 13

  • Board of Education If the unit member and the Association are not satisfied with the decision at Stage 2, the Grievance Committee will file an appeal in writing with the Board of Education within fifteen (15) school days after receiving the decision at Stage 2. The official grievance record maintained by the Superintendent of Schools shall be available for the use of the Board of Education.

  • Supervision The Recipient shall provide and maintain competent and adequate project management covering the supervision and inspection of the development and construction of the Project and bear the responsibility of ensuring that construction conforms to the approved surveys, plans, profiles, cross sections and specifications.

  • SITE SUPERVISION 1.9.1 Contractor shall provide adequate supervision of his employees to ensure complete and satisfactory performance of all work in accordance with the terms of the contract. Contractor shall have a responsible supervisor on the job at all times when the work of the contract is being carried out. 1.9.2 Contractor's site supervisor shall be responsible for communication with the State's representatives and shall meet with the Project Manager at the site on a weekly basis to discuss project status, including any problems, ideas, or concerns related to the project work. 1.9.3 Contractor and its employees shall be subject to all applicable State and Federal statutes and regulations for the conduct of personnel. 1.9.4 The Contractor shall provide adequate supervision of his/her subcontractors and their employees at all times.

  • Authority of Contractor The Contractor shall have no right or authority, express or implied, to commit or otherwise obligate the Company in any manner whatsoever except to the extent specifically provided herein or specifically authorized in writing by the Company.

  • Payment of Commission 7 (1) The Company may exercise the power to make payments by way of brokerage or commission conferred by the Law in the manner provided by the Law. 7 (2) Payments by way of brokerage or commission may be satisfied by the payment of cash and, after the Establishment Period, by the allotment of fully or partly paid shares, or partly by the payment of cash and partly by the allotment of fully or partly paid shares.

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