Common use of Issuance of Payment Orders Clause in Contracts

Issuance of Payment Orders. (1) Upon entering into the Contract, unless it is cancelled by the Bank pursuant to Article 4, Paragraph (3), the Bank shall issue a payment order to the Banks Concerned without delay in accordance with the content of the request.

Issuance of Payment Orders. (1) Upon entering into the Contract, unless it is cancelled by the Bank pursuant to Article 4, Paragraph (3), the Bank shall issue a payment order to the Banks Concerned Concerned, or issue a demand draft to the applicant or the payee without delay in accordance with the content of the request.