Common use of Insufficient Payment Clause in Contracts

Insufficient Payment. If the Purchaser who has chosen a Lump Sum Contract pays less than the total Program Contract amount plus the one-time Enrollment Fee, the Program will notify the Purchaser. If the Program does not receive instructions and payment (if applicable) from the Purchaser within 90 business days of the date notice is sent, the Program shall Terminate the Contract. If the Program sends a notice, the Purchaser shall advise the Program by mail that he/she will do one of the following: ▪ Enclose payment in full, including any specified Program Fees; ▪ Inform the Program to apply the amount submitted and convert the unpaid balance (if any) to a Monthly Purchase option; ▪ Inform the Program to convert the Contract to a different Plan Option (see Section 3) which is equal to or less than the lump sum paid; or ▪ Withdraw the Open Enrollment Application.