Common use of E-PAYMENT Clause in Contracts

E-PAYMENT. NFL Nangal Unit is having its cash Credit account with State bank of India, Naya Nangal, having Electronic Fund Transfer (EFT) / RTGS Facility in its branch at Naya Nangal and other important branches. The contractors/Suppliers having Bank accounts with EFT / RTGS facility, may submit their bank particulars in Declaration Form–I. (i.e. Bank Account Number, Name of place of branch, Branch Code Number), so that the payment can be released through transfer of funds to their account.