Common use of Order payment Clause in Contracts

Order payment. In order to ensure the uniformity of payment in the different La Galerie sales areas, to offer the consumer a security guarantee for past transactions and to simplify financial management, RUE DU COMMERCE is responsible for collecting the sales proceeds on behalf of the Merchant Partner, then paying it (net of commissions and fees) in accordance with the process detailed below. All transactions must take place via La Galerie’s payment services facility whose framework agreement is included in Appendix 1. The Merchant Partner acknowledges having read the general terms and conditions of the Merchant Partnership’s payment services and unreservedly accepts its terms and conditions. The Merchant Partner entrusts RUE DU COMMERCE exclusively with the mandate to collect in its name and on its behalf sales revenue for orders placed via la Galerie and to recover any possible related outstanding amounts. Within this framework, the Merchant Partner undertakes to exclusively contact RUE DU COMMERCE regarding any queries or difficulties related to the recovery of outstanding amounts. As soon as the order is confirmed and the customer pays, using the interface set up by a technical service provider and directly connected to a bank, the funds are deposited in a dedicated account. Each customer payment credits the account. The Merchant Partner hereby waives any claim to interest on these amounts under any circumstances, as it is not subject to the payment of operating costs for this dedicated account.

Order payment. In order to ensure the uniformity of payment in the different La Galerie sales areas, to offer the consumer a security guarantee for past transactions and to simplify financial management, RUE DU COMMERCE is responsible for collecting the sales proceeds on behalf of the Merchant Partner, then paying it (net of commissions and fees) in accordance with the process detailed below. All transactions must take place via La Galerie’s payment services facility whose framework agreement is included in Appendix 12. The Merchant Partner acknowledges having read the general terms and conditions of the Merchant Partnership’s payment services Partnership and unreservedly accepts its terms and conditions. The Merchant Partner entrusts RUE DU COMMERCE exclusively with the mandate to collect in its name and on its behalf sales revenue for orders placed via la Galerie and to recover any possible related outstanding amounts. Within this framework, the Merchant Partner undertakes to exclusively contact RUE DU COMMERCE regarding any queries or difficulties related to the recovery of outstanding amounts. As soon as the order is confirmed and the customer pays, using the interface set up by a technical service provider and directly connected to a bank, the funds are deposited in a dedicated account. Each customer payment credits the account. The Merchant Partner hereby waives any claim to interest on these amounts under any circumstances, as it is not subject to the payment of operating costs for this dedicated account.