Common use of Authority to Deduct Clause in Contracts

Authority to Deduct. The Principal authorises the Licensee, upon receipt of an order from the Purchaser or the Purchaser’s solicitor or licensed conveyancer authorising the Licensee to account to the Principal for the deposit, to deduct from any monies held by the Licensee on behalf of the Principal the Remuneration and all expenses, charges and fees payable to the Licensee under this agreement.

Authority to Deduct. The Principal authorises the Licensee, upon receipt of an order from the Purchaser or the Purchaser’s solicitor or solicitor/licensed conveyancer authorising the Licensee to account to the Principal for the deposit, to deduct from any monies held by the Licensee on behalf of the Principal the Remuneration and all expenses, charges and fees payable to the Licensee under this agreement.