CRC statement definition
Examples of CRC statement in a sentence
The CRC statement shall be conclusive and binding on you unless we receive your written notice of irregularity within 10 days from the date of the CRC statement.
If you fail to receive your CRC statement within 10 days from the day of the month which is your usual CRC statement date, you must notify us immediately, failing which such CRC statement not received by you shall be deemed to be conclusive and binding on you save in the case of our manifest or clerical error.
If we are unable to produce or send a CRC statement to you for any reason whatsoever, your liability for interest shall still continue.
Provided that where part of the CRC outstanding balance shown on the CRC statement relates to additional credit granted to you pursuant to Clause 2(e) of this Agreement and we have notified you of another payment date for the same, that part of the CRC outstanding balance must be received by us on or before that other payment date so notified.
The interest which has accrued up to the date of the CRC statement shall be specified in the CRC statement.
In addition thereto, we may at our reasonable discretion debit from your CRC account a service charge or administration fee and any expenses we may have incurred in handling the dishonoured cheque or draft, including without limitation informing you of the dishonoured cheque or draft and reflecting the adjustments to your CRC account in your CRC statement.
Provided that where part of the CRC outstanding balance shown on the CRC statement relates to additional credit granted to you pursuant to Clause 2(e) of this Agreement and we have notified you of another payment date for the same, that part of the CRC outstanding balance must be received by us on or before that other payment date so notified.
The interest which has accrued up to the date of the CRC statement shall be specified in the CRC statement.
Such interest will be set-off against or applied towards the reduction of the total CRC outstanding balance shown on the CRC statement and any balance thereof shall be payable by you in accordance with this Agreement.
In addition thereto, we may at our reasonable discretion debit from your CRC account a service charge or administration fee and any expenses we may have incurred in handling the dishonoured cheque or draft, including without limitation informing you of the dishonoured cheque or draft and reflecting the adjustments to your CRC account in your CRC statement.