MODE OF PAYMENT Clause Samples
The "Mode of Payment" clause defines the specific method or process by which payments under a contract must be made. It typically outlines whether payments should be made via bank transfer, check, electronic funds transfer, or another specified method, and may include details such as payment schedules, required documentation, or designated accounts. By clearly establishing how and where payments are to be made, this clause helps prevent disputes and misunderstandings regarding financial transactions between the parties.
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MODE OF PAYMENT. Subject to the terms of the Agreement and the Promoter abiding by the construction milestones, the Allottee shall make all payments, on demand by the Promoter, within the stipulated time as mentioned in the Payment Plan through A/c Payee Cheque / Demand Draft or Online Payment (as applicable) in favour of ' ' payable at .
MODE OF PAYMENT. Subject to the terms of the Agreement and the Promoter abiding by the construction milestones, the Allottee shall make all payments, on written demand by the Promoter, within the stipulated time as mentioned in the Payment Plan through A/c Payee cheque/demand draft/bankers cheque or online payment (as applicable) in favour of Promoter payable at Kolkata at its office.
MODE OF PAYMENT. Subject to the terms of the Agreement and the Promoter abiding by the development/ construction milestones, the Allottee shall make all payments, on written demand by the Promoter, within the stipulated time as mentioned in the Payment Plan [Schedule C] through A/c Payee cheque/demand draft/bankers cheque or online payment (as applicable) in favour of;
MODE OF PAYMENT. The Payment shall be made by way of demand draft drawn on any scheduled bank in favour of Jharkhand Tourism Development Corporation Limited, payable at Ranchi and shall be sent sufficiently in advance to the address specified in Clause 14.7 so as to ensure realisation/ encashment thereof on or before Due Date.
MODE OF PAYMENT. Subject to the terms of the Agreement and the Promoter abiding by the construction milestones, the Allottee shall make all Payments, on written demand by the Promoter, within the stipulated time as mentioned in the payment plan (Schedule C) through A/C Payee cheque/demand draft/bankers cheque or online payment in favour of “▇▇▇▇ ▇▇▇▇▇ Apartment” payable at Puducherry.
MODE OF PAYMENT. Subject to the terms of the Agreement and the Promoter abiding by the construction milestones, the Allottee shall make all payments, on written demand by the Promoter, within the stipulated time as mentioned in the Payment Plan through A/c Payee cheque/demand draft/bankers cheque or online payment (as applicable) in favour of SKB REALTECH payable at
MODE OF PAYMENT. Subject to the terms of the agreement and the Promoter abiding by the construction milestones, the Aloottee shall make all payments, on written demand by the Promoter, within the stipulated time as mentioned in the payment plan at Term No.
MODE OF PAYMENT. 2.1 Subject to the terms of the Agreement and the Promoter abiding by the construction milestones, the Allottee shall make all payments, on written demand by the Promoter only on behalf of the Promoter and the same within the stipulated time as mentioned in the Payment Plan mentioned in Part 4 of Schedule „C‟ for Said Apartment and for Said Parking Space (if any, as applied for by the Allottee) hereunder and the same through A/c Payee cheque/demand draft/bankers cheques or online payment (as applicable) in favour of the Promoter payable at Kolkata.
2.2 In the event of the Allottee obtaining any financial assistance and/or housing loan from any bank/ financial institution, the Promoter shall act in accordance with the instructions of the bank/ financial institution in terms of the agreement between the Allottee and the Bank/ financial institution SUBJECT HOWEVER that such bank/financial institution shall be required to disburse/pay all such amounts due and payable to the Promoter under this Agreement and in no event the Promoter shall assume any liability and/or responsibility for any loan and/or financial assistance which may be obtained by the Allottee from such bank/ financial institution.
2.3 Timely payment of all the amounts payable by the Allottee under this Agreement (including the Total Price), is the essence of the contract. An intimation forwarded by the Promoter to the Allottee that a particular milestone of construction has been achieved shall be sufficient proof thereof. The Promoter demonstrating dispatch of such intimation to the address of the Allottee as stated at Clause 29 (Notices) hereunder shall be conclusive proof of service of such intimation by the Promoter upon the Allottee, and non-receipt thereof by the Allottee/s shall not be a plea or an excuse for non-payment of any amount or amounts.
2.4 In the event of delay and/or default on the part of the Allottee in making payment of any GST, Service Tax, TDS or any other tax, levies, cess etc., then without prejudice to any other rights or remedies available to the Promoter and/or the under this Agreement or under applicable law, the Promoter shall be entitled to adjust against any subsequent amounts received from the Allottee, the Said unpaid tax levy, cess etc. along with interest, penalty etc. payable thereon, from the due date till the date of adjustment.
MODE OF PAYMENT. Subject to the terms of the Agreement and the Promoter abiding by the construction milestones, the Allottee shall make all payments, on written demand by the Promoter, within the stipulated time as mentioned in the Payment Plan [Schedule C] through A/c Payee cheque/demand draft/bankers cheque or online payment (as applicable) in favour of ‘ ▇▇▇▇▇▇ REAL INRFRA ’ payable at _UJJAIN .
MODE OF PAYMENT. (a) The Allottee/s has paid a sum of Rs. 4,00,000/- (Rupees Four Lakhs only), to the Promoter, as Booking Amount /part Booking Amount at the time of allotment of the Apartment; The Allottee/s agrees and accepts that 10% of the total Sale Consideration shall be treated as Booking Amount as per T NRERA Act and its connected Rules and Regulations.
(b) The Allottee/s shall pay the balance Sale Consideration amount as per the Schedule of Payments detailed in the Schedule D hereunder. The Allottee/s authorizes the Promoter to adjust/appropriate all payments made by him/her under any head(s) of dues against lawful outstanding, if any, in his/her/their/its name as the Promoter may in its sole discretion deem fit and the Allottee/s undertakes not to object/demand/direct the Promoter to adjust this payment in any manner.
(c) The Allottee/s agrees and undertakes that TIME SHALL BE AN ESSENCE with regard to the above mentioned obligation on the part of the Allottee/s to make payment as per the Schedule of Payment, as detailed in the Schedule D hereunder.
(d) The Allottee/s hereby undertake/s and assure/s that based on the stage intimation letters issued / to be issued by the Promoter to the Allottee/s, the above payments shall be made by the Allottee/s within the due date and without any further demand, as time for payment of the above sums being the essence of the contract and the Allottee/s is/are fully informed by the Promoter that any default in payment of the above amount would affect the completion of the Building as a RERA registered Project; All payments shall be made by Cheques or Demand Drafts or through RTGS. The date of credit of the amount into the account of the Promoter will be considered as the date of payment made by the Allottee/s and the delayed payment charges will become payable from the due date. Dishonour of cheques shall entitle the Promoter to terminate the Booking and this Agreement. Any banking charges for outstation cheques, dishonor of cheques, collection charges etc. shall be debited to the Allottee/s’s account and the net amount shall be credited to the Allottee/s’s account.
(e) The Allottee/s shall not delay, withhold or postpone the payments due as mentioned in Schedule D, on whatever reason and in that event, the Allottee/s shall be responsible for any consequential sufferance or damages.
(f) The Allottee/s, if resident outside India, shall be solely responsible for complying with the necessary formalities as laid down in Foreign Exch...