Common use of Payment method for “Sales proceeds Clause in Contracts

Payment method for “Sales proceeds. The Merchant Partner will provide details of a bank account to which transfers can be made. It must ensure its bank details are always up to date so that bank transfers can be made. In the event of a change in his bank details, the Merchant Partner must inform RUE DU COMMERCE. Failing this, RUE DU COMMERCE reserves the right to suspend the Merchant Partner's MIRAKL Boutique for the time of verification. For technical management reasons and after the due date, payment of “Sales proceeds” will be made three times per month (on the 11th, 21st and 1st of each month); La Galerie’s bank will carry out the payment order. Simultaneous to the transfer order, RUE DU COMMERCE will provide the Merchant Partner with a summary of the sales revenue generated and an invoice of commissions and fees levied in compensation. It will thus be able to trace and check the transfer amount that has been credited.