Entrusted Payments Sample Clauses
The Entrusted Payments clause establishes a mechanism where a third party, often an escrow agent, holds and manages payments between contracting parties until certain conditions are met. In practice, this means that funds are deposited with the entrusted party, who then releases the payment to the recipient only after verifying that agreed-upon obligations—such as delivery of goods or completion of services—have been fulfilled. This clause serves to protect both parties by reducing the risk of non-performance or fraud, ensuring that payment is only made when contractual terms are satisfied.
Entrusted Payments. According to CBRC’s and the lender’s internal management regulations, the payment of the loan funds meeting one of the following conditions shall be made by the lender through an entrusted payment method:
A. A new credit business relationship is established between the lender and the borrower, and the credit rating of the borrower fails to meet the internal requirements of the lender;
B. When a single amount of withdrawal exceeds 10 million yuan (exclusive). Foreign currency shall be converted at the exchange rate on the actual withdrawing day);
C. Other circumstances stipulated by the lender or agreed with the borrower.
Entrusted Payments. Any single payment exceeding RMB 5 million to a specific payee using the loan proceeds shall be subject to the entrusted payment arrangement.