Common use of Payments by Electronic Transfer Clause in Contracts

Payments by Electronic Transfer. (a) The Customer shall instruct its banking service supplier to make payment to the Supplier by means of electronic transfer. (b) Each Party shall pay any costs raised by their banking service supplier. (c) Cleared funds shall arrive into the bank account of the Supplier, nominated in the invoice raised by the Supplier, on or before the Due Date on the invoice. (d) Where the electronic transfer shall not be 'same day', the Customer shall instruct its bank to make payment a sufficient quantity of days ahead of the Due Date, so that funds shall be cleared in the account of the Supplier on the Due Date.

Payments by Electronic Transfer. (a) The Customer shall instruct its banking service supplier to make payment to the Supplier by means of electronic transfer. (b) Each Party shall pay any costs raised by their banking service supplier. (c) Cleared funds shall arrive into the Supplier's a bank account of the Supplieraccount, nominated in the invoice Invoice raised by the Supplier, Supplier on or before the Due Date on the invoice. (d) Where the electronic transfer shall is not be 'same day', the Customer shall instruct its bank to make payment a sufficient quantity of days ahead of the Due Date, so that funds shall be are cleared in the Supplier's account of the Supplier on the Due Date. (e) The payment term is the essence of the Contract. (f) The payment term of a Commencement Date invoice, is 7 calendar days unless specified otherwise on the invoice itself.