Reporting and Settlement. 11.01 The Ceding Company shall provide the Reinsurer with information necessary to properly account for, report, validate and manage the Business Reinsured. Information required as specified in this Article shall be provided in a format mutually agreed upon by the Parties.
11.02 Within [REDACTED] days after the close of each Accounting Period, the Ceding Company shall submit an “Accounting Report” including such items outlined in Section 11.03 in a mutually agreeable format. The Ceding Company shall provide or make available to the Xxxxxxx Resolution Life Insurance Company and TR Re, Ltd. Annuity Reinsurance Agreement Effective October 1, 2021 Page 17 Reinsurer additional documentation as may be reasonably necessary to support the items reported and to manage the risk of the Business Reinsured.
Reporting and Settlement. 11.01 The Ceding Company shall provide the Reinsurer with information necessary to properly account for, report, validate and manage the Business Reinsured. Information required as specified in this Article shall be provided in a format mutually agreed upon by the Parties.
11.02 Within [REDACTED] after the close of each Accounting Period, the Ceding Company shall submit an “Accounting Report” including such items outlined in Section 11.03 in a mutually agreeable format. The Ceding Company shall provide or make available to the Reinsurer additional documentation as may be reasonably necessary to support the items reported and to manage the risk of the Business Reinsured.
Reporting and Settlement. 5.1. Notwithstanding Sub-Article 7.1 of the Main Agreement the Ticketing Company shall render to the Carrier a ticket sale report (TSR) once a month. The TSR shall be construed in the form of the Ticketing Company agreed upon between the Parties. TSR shall be accompanied by the relevant Financial Statement with attached invoice issued by the Ticketing Company for the charges due under this Annex B 1.0. The Ticketing Company will invoice the Carrier on monthly basis. The amount due shall be within 30 days after receipt of the Invoice by the Carrier. The due date of the invoice is the date of crediting the due amount to the Ticketing company´s bank account. Ticket sales report (TSR) defined in paragraph 4.1. shall be sent monthly to the following address: The payment by the ticketing company shall be done in EUR on monthly basis. (until 10th of each calendar month following the reporting month).
5.2. Notwithstanding Sub-Article 7.1 of the Main Agreement all payments of TSR balance due by the Ticketing Company shall be effected by bank transfer once a month ordered by the Ticketing Company to the account indicated by the Carrier.
5.3. All expenses for the setting up and the running of Carrier’s GDS/CRS, will be completely borne by the Carrier. Payments of TSR balance shall be made by the Ticketing Company to the Carrier according to the following payments instruction. Each party shall bear their own expenses and bank fees related to the wire transfer.
5.4. In case of credit card payment by the passengers a surcharge of 2% from collected amount will applied to cover related banking fees in case of payment via the payment terminal at POS (the Point of Sale).
5.5. Payments shall be made by the Carrier in the currency in which the respective invoice is issued and in favour of the Ticketing Company’s bank account denominated in the same currency. For invoicing in EUR the total invoiced amount in CZK shall be converted to EUR by exchange rate CZK/EUR published by CNB (Czech National Bank) on the day of the taxable supply and shall be reported by the Ticketing Company to the Carrier in written form on every respective invoice.
5.6. The rates shall remain fix and firm during first 12 months contract validity, after this period can be adjusted upon the written consent made by both Parties on yearly basis according to the CPI factor (All Urban Consumers) in the Czech Republic of the previous twelve months.
Reporting and Settlement. Southern Heritage shall provide to the reinsurer, no less frequently than at the end of each quarter, the necessary reports needed to document the calculation of premiums and losses ceded under this agreement. Net amounts due under this contract must be remitted within 15 days from the issuance of said reports.
Reporting and Settlement. The amounts collected by each of Medivolve and MassLabs shall be reported each to the other in writing and shall be settled and net payment made between them through direct funds transfer on a weekly basis in accordance with Exhibit A. Weekly transfers shall be preliminary settlements with a final settlement once per year as a means to reconcile the account. Shortly following the execution and delivery of this Agreement, the Parties will settle the accounts for the period from the Effective Date as set out in Exhibit A.
Reporting and Settlement
