REMITTANCE PROCEDURE Clause Samples
The Remittance Procedure clause outlines the process by which payments are to be transferred from one party to another under the agreement. It typically specifies the timing, method, and required details for making payments, such as bank account information, currency, and any necessary references or documentation. By clearly defining these steps, the clause ensures that payments are made accurately and efficiently, reducing the risk of delays, misdirected funds, or disputes over payment fulfillment.
REMITTANCE PROCEDURE. LIQUIDATED DAMAGES SHALL BE REMITTED TO SELLER IN ACCORDANCE WITH THE FOLLOWING PROCEDURES:
REMITTANCE PROCEDURE. Receiving Firm shall remit cleared funds to Velocity on a bi-monthly basis. This is to be accomplished on the 15th (or the next business day) of the month and the last business day of the month. This means that Velocity must receive the both the YGC remittance report and the attorney trust account on the 15th (or the next business day) of the month and the last business day of the month. The Receiving Firm is going to be providing its bi-monthly financial information through the YGC bi-monthly reports / updates / maintenance on the 15th (or the next business day) of the month and the last business day of the month. The Receiving Firm must also provide a hard copy of their financial remittance & cost report by way of email to (▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇, CFO - ▇▇▇-▇▇▇-▇▇▇▇▇▇▇) ▇▇▇@▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ on the 15th (or the next business day) of the month and the last business day of the month. Lastly the bi-monthly remittance check must be received by overnight mail to: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ at Velocity Investments LLC, ▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇, ▇▇▇▇, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇. In the event that any individual remittance is less than $1,000.00 please hold monies pending the following period or until the remittance amount, to Velocity, is greater than $1,000.00. ATTACHMENT F
REMITTANCE PROCEDURE. Notify AFL in writing within 14 days of any likely event to give rise to a remittance entitlement by the Nominated Borrower under the Loan Contract. Such notification should be made by the Nominated Borrower of if he/she is unable to do so, then by the Nominated Borrower’s next of kin.