Common use of Additional Commission Clause in Contracts

Additional Commission. The Bank is entitled to charge additional chargeable commission under the following situations: (a) Shipping Guarantee-i that has been issued where the expiry date is not specified but determinable, additional commission at the prescribed rate will be charged from the expected expiry date, payable upfront at sixth (6th) monthly interval; and/or (b) Shipping Guarantee-i which is not returned for cancellation at the end of expiry date, additional commission at the prescribed rate will be charged from the expiry date, payable upfront at sixth (6th) monthly interval.

Additional Commission. The Bank is shall be entitled to charge additional chargeable commission under the following situations: : (a) Shipping Bank Guarantee-i that has been issued where the expiry date is not specified but determinable, additional commission at the prescribed rate will be charged from the expected expiry date, payable upfront at sixth (6th) monthly interval; and/or and/or (b) Shipping Bank Guarantee-i which is not returned for cancellation at the end of expiry date, additional commission at the prescribed rate will be charged from the expiry date, payable upfront at sixth (6th) monthly interval.