FACTORING SERVICE. CHARGE You shall pay us a commission in an amount equal to one percent (1%) of the net amount of such Receivables for the first sixty (60) day term or part thereof, plus one quarter of one percent (.25%) of such net amount for each additional thirty (30) day term or part thereof, but in no event less than $3.00 (three dollars) per invoice. Factoring fees payable to us hereunder are based on your usual and regular selling terms which do not exceed sixty (60) days. However, no such increase in terms or dating shall be granted without our prior written approval. In order to induce us to provide you with client credit approval on certain accounts which we may not otherwise credit approve, you agree that we shall have the right to charge to you a surcharge. The amount of such surcharge shall be in any amount to be determined by us in our sole discretion on any such account which you request us to credit approve and which we agree to credit approve. The accounts subject to a surcharge are those accounts where the account debtor is the subject of a pending bankruptcy proceeding, the account debtor is not adequately capitalized in our opinion or the account debtor is viewed by us (on the basis of various economic factors considered by us) as being substantially more unlikely to timely pay the account than other account debtors whose accounts are then being credit approved by us. Nothing in this section shall require us to credit approve any account, even if you agree that we can charge you a surcharge in connection with such account. All factoring fees or charges are due when posted and charged to your Factoring Account. We reserve the right to impose an additional factoring service charge (a "surcharge") or other charges on any customer on which we deem it necessary upon notice to you. INTEREST CHARGE (AVERAGE NET DAILY OUTSTANDING) Interest calculated on the basis of the Average Net Daily Outstanding (ANDO) Method plus Three (3) business days shall be charged on the average net daily balance of advances made to you pursuant to SECTION 2 of this Agreement, and shall be payable monthly on the last day of each calendar month. INTEREST RATE
FACTORING SERVICE. The factoring service is provided to assist owners in managing repairs and maintenance, gain agreement from neighbouring owners, and have work carried out to maintain common parts of the building and common areas.
FACTORING SERVICE. 2.1 In providing the Factoring Service, ACHA will:
FACTORING SERVICE. COFCO Group Companies shall transfer to Shanghai Mengyuan the ownership of accounts receivables payable to the COFCO Group Companies, and Shanghai Mengyuan shall provide factoring financing services to the relevant COFCO Group Company. In consideration, the relevant COFCO Group Company shall pay to Shanghai Mengyuan finance interest and other miscellaneous fees (as applicable).
FACTORING SERVICE. The discount amount for Factoring Service shall be calculated by reference to the same rate as the interest rate applicable to the Group for its loans granted by CSCF. In any event, the discount rate offered by CSCF shall not exceed 5% per annum.
