Common use of Transfer of Payables Clause in Contracts

Transfer of Payables. For all payables of Party A under this Contract, Party B shall have the right to transfer the corresponding amount in RMB or other currencies from the account opened by Party A in China Construction Bank system without prior notice to Party A. If it is required to go through the exchange settlement and sales, or foreign exchange trading formalities, Party A shall be obligated to assist Party B, and the foreign exchange risk shall be borne by Party A.