Credit Control Sample Clauses
The Credit Control clause establishes the terms and procedures by which a party monitors, manages, and enforces credit limits or payment terms with its counterparties. Typically, this clause allows the provider to set credit limits, require advance payments, or suspend services if the customer exceeds agreed credit terms or fails to pay on time. Its core practical function is to protect the provider from financial risk by ensuring that credit exposure is controlled and that payment defaults are minimized.
Credit Control. A person who is designated by the Company to pay outstanding accounts (E.g. Accounts Payable).
Credit Control. 4.1.1 Non-stressed exit principles The Underwriter will, prior to the service end date, undertake an assessment of the future target operating model for the Credit Control function, and determine whether to bring credit control in-house or outsource to an alternative provider (another MGU, DUA, or third-party processor) such that there is no break in credit control activity. If credit control is brought in-house, the Underwriter will exercise its right to hire existing Coverholder staff under the TUPE (or equivalent) procedure in the first instance. The Coverholder will provide reasonable exit assistance to the Underwriter. This includes facilitating access to the Prequel credit control platform (if not exited as part of service termination) and provision of all data, documentation and reporting required to facilitate the exit.
4.1.2 Stressed exit contingency plan principles The Underwriter will exercise its right to hire existing Coverholder credit control staff under the TUPE (or equivalent) procedure and bring credit control systems, documentation and data in-house.
4.1.3 Resources responsible for implementing the contingency plan The Underwriter CFO is responsible for the contingency plan, with involvement of other specialised resource within the finance function as required.
4.1.4 Critical data to be handed over to the Underwriter Outstanding account balances and unreconciled cash reports will be provided by the Coverholder to facilitate monthly reconciliations.
4.1.5 Alternative systems In the event an exit requires the Underwriter to move off the Prequel platform, alternative vendor package policy administration systems with similar Credit Control functionality are available and could be procured in the medium-term. Alternatively, the Coverholder may decide to implement the Oracle Credit Management module within Oracle Fusion Cloud GL.
4.1.6 Alternative third-party support Credit control roles are moderately skilled; roles may be replaced by an outsourced Coverholder, FTCs, or FTEs with a readily available skillset.
Credit Control. 6.1 It is agreed between the parties that the Service Provider will be entitled to disconnect electricity supply in the following instances:
6.1.1 where the consumer/owner fails to sign and complete the Agreement; and/or
6.1.2 where the consumer/owner’s utility invoice payment does not reflect on the Service Provider’s bank statement on or before the payment due date; and/or
6.1.3 where the consumer/owner’s utility payment does not reflect the full amount owing; and/or
6.1.4 non-payment and/or short-payment of the required risk deposit; and/or
6.1.5 in the event of the Service Provider suspecting and/or proving that metering equipment has been tampered with; and/or
Credit Control. The JDI Affiliate in each Territory shall from time to time:
(A) identify Customers;
(B) conduct credit and other similar checks on Customers; and
(C) collect debts and other receivables due to any Unilever Affiliate pursuant to this agreement, in each such case as a Reasonable and Prudent Operator and in a manner consistent with the practices and procedures for such Territory applied by such JDI Affiliate in the carrying out of such matters in relation to the Products in the past PROVIDED THAT the Unilever Affiliate in such Territory may at any time instruct such JDI Affiliate in writing not to extend credit to any particular Customer, AND FURTHER PROVIDED THAT as soon as JDI, or the JDI Affiliate in any Territory, becomes aware of a significant risk of the Historical Benchmark being substantially exceeded in any calendar year either globally or in that Territory, it will:
(i) notify the Unilever Parties or the Unilever Affiliate in that Territory thereof as soon as commercially practicable;
(ii) allow the Unilever Parties, or the Unilever Affiliate in that Territory, full access to the books and records relating to the Customer(s) concerned;
(iii) discuss in good faith with the Unilever Parties, or the Unilever Affiliate in that Territory, the steps which need to be taken to mitigate the risks and minimise potential losses arising from such circumstances; and
(iv) allow the Unilever Parties, or the Unilever Affiliate in that Territory, to take responsibility for collecting any debts outstanding in accordance with clause 19.1(C).
Credit Control. Fortum Markets AB is entitled to make customary credit control upon the signature of the contract and, if necessary, during the term of validity of the contract. Fortum Markets AB reserves the right to cancel the contract in case of insufficient creditworthiness or to claim acceptable collateral or deposit for continued sale.
Credit Control. 4.1 The tariffs applied by the Service Provider will be according to those of 8.1 Interest is payable in respect of all overdue amounts and closed utility the Local Supply Authority, as amended from time to time in accordance accounts with outstanding balances, and is charged at 2% per month as with the National Energy Regulator of South Africa (NERSA). determined by the NCA.
4.2 ICR Utility will accept the installed capacity to the Consumer’s premises 8.2 Account holders who fail to make timely payments as per the monthly as the relevant supply size when determining the applicable tariff. It is utility invoice, may be listed with the National Credit Bureau. An therefore accepted that the installed supply size is contractually agreed administration fee will be charged for the listing procedure. between the Consumer and the landlord. It remains the Consumer’s 8.3 The Consumer must note that fees are applicable for credit control action responsibility to apply for a reduced capacity with the landlord, given that: taken. Reconnections are only carried out during business hours and may
4.2.1 It is allowed by the landlord in accordance with the lease agreement; take up to 48 hours.
4.2.2 Any reduction in a Consumer’s Notified Maximum Demand (NMD) will 8.4 Should any client enter into an Acknowledgement of Debt & Payment be done in accordance to the NMD rules as set out by the Local Supply Agreement with the Service Provider, such agreement will serve as a Authority; legally binding document and must be adhered to with the conditions as
4.2.3 It will not affect the operational ability of the Consumer; set out in such agreement.
4.2.4 That the supply size is reduced by changing the circuit breaker size; 8.5 In the unlikely event of it being necessary to institute legal action against and the Consumer in order to enforce the terms of this application, the
4.2.5 That all electrical installation rules according to SANS 10142 are abided Consumer hereby consent to the jurisdiction of the Magistrate’s Court in by. terms of the provisions of Section 45 of the Magistrate’s Courts’ Act,
Credit Control. Setting up and implementing procedures for credit control.
Credit Control. Concero reserves the right to run a credit check with a relevant credit agency before giving a Customer credit, and to validate any credit card account holder or delivery address details.
Credit Control. Each of the Target Companies has implemented subscriber registration procedures, such as identity checks for individual customers and corresponding information checks for corporate customers, to assist in credit control. In certain situations, the Target Companies require contract subscribers to pay a deposit representing a certain amount of usage charges before local mobile services are initiated. The actual usage charges incurred are verified against the balance of the amount deposited on a daily basis and if there are unusual circumstances, appropriate and effective control measures will be implemented. Direct debit services are available in each geographical region. Accounts of contract subscribers are required to be settled on a monthly basis, and a late payment fee is imposed on each subscriber whose account is not paid by the monthly due date. If the subscriber's account remains overdue, the subscriber's services will be deactivated (i.e., involuntarily deactivated). Subscribers whose services have been involuntarily deactivated must pay all overdue amounts, including applicable late payment fees, to reactivate services.
Credit Control. Reseller is solely responsible for the payment of the Fees to HackTheBox and for all collection efforts related to payments from a Subscriber to Reseller. Reseller will be responsible for such matters as credit verification, deposits, billing, collection, bad debts etc.