Order Settlement Clause Samples

The Order Settlement clause defines the process and terms by which parties finalize and complete payment and delivery obligations for goods or services ordered under a contract. Typically, this clause outlines the timing, methods, and conditions for payment, as well as the procedures for confirming receipt and resolving discrepancies. For example, it may specify that payment is due within 30 days of delivery and detail the steps to follow if there are issues with the delivered goods. The core function of this clause is to ensure both parties have a clear, agreed-upon process for closing out transactions, thereby reducing disputes and facilitating smooth business operations.
Order Settlement. 20.3.8.1. Mesh provides Services related to delivery-versus-payment settlement services on all confirmed Orders. 20.3.8.2. When the Customer uses the Mesh Services to perform Stablecoin-to-Token trading they create an Order, the Order must be confirmed and recorded in the public ledger associated with the Tokens in Order to facilitate settlement. The Blockchain Service Provider is solely responsible for verifying and confirming any such Transactions. Mesh cannot confirm, cancel or reverse Transactions once submitted to the Blockchain Service Provider. Mesh can only confirm actions, services and statuses related to Mesh Services and Users actions as well as submission to the Blockchain Service Provider and receipt of Transaction success or failure from the Blockchain Service Provider: 20.3.8.3. Mesh will make all reasonable effort to communicate the submission, success and failure of any Transaction to the Blockchain service provider. 20.3.8.4. Once submitted to the Blockchain service provider’s network, a Transaction will be remain in the awaiting settlement status until successful settlement confirmation or failure is received from the network. A Transaction is only settled or complete once Mesh reflects a settled status. 20.3.8.5. Tokens associated with Transactions that are awaiting settlement will be designated accordingly and will not be included in your Mesh Account balance or available to the Customer to conduct Transactions. 20.3.8.6. If a Transaction is cancelled or declined the balance will be returned to the Customer’s Mesh Accounts. 20.3.8.7. When you transact using your Mesh profile and Account, you authorise Mesh to submit Transactions to the relevant Blockchain network. 20.3.8.8. Blockchain service providers operate the decentralised network and are independent third parties. They are not owned, operated or controlled by Mesh. You agree that Transaction details submitted will be settled or executed by the network and all details submitted may not be settled or completed or may have substantial delays by the Blockchain service provider.
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Order Settlement 
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Related to Order Settlement

  • The Settlement Following mediation with a neutral party, a Settlement has been reached. As part of the Settlement, a Qualified Settlement Fund of $39,500,000 will be established to resolve the Class Action. The Net Settlement Amount is $39,500,000 minus any Administrative Expenses (including taxes and tax expenses), Court-approved Attorneys’ Fees and Costs, and Class Representative Compensation. The Net Settlement Amount will be allocated to Class Members according to a Plan of Allocation to be approved by the Court.

  • Loss Settlement In this Condition D., the terms "cost to repair or replace" and "replacement cost" do not include the increased costs incurred to comply with the enforcement of any ordinance or law, except to the extent that coverage for these increased costs is provided in E.11. Ordinance Or Law under Section I – Property Coverages. Covered property losses are settled as follows: 1. Property of the following types: a. Personal property; b. Awnings, carpeting, household appliances, outdoor antennas and outdoor equipment, whether or not attached to buildings; c. Structures that are not buildings; and d. Grave markers, including mausoleums; 2. Buildings covered under Coverage A or B at replacement cost without deduction for depreciation, subject to the following: a. If, at the time of loss, the amount of insurance in this policy on the damaged building is 80% or more of the full replacement cost of the building immediately before the loss, we will pay the cost to repair or replace, without deduction for depreciation, but not more than the least of the following amounts: (1) The limit of liability under this policy that applies to the building; (2) The replacement cost of that part of the building damaged with material of like kind and quality and for like use; or (3) The necessary amount actually spent to repair or replace the damaged building. b. If, at the time of loss, the amount of insurance in this policy on the damaged building is less than 80% of the full replacement cost of the building immediately before the loss, we will pay the greater of the following amounts, but not more than the limit of liability under this policy that applies to the building: (1) The actual cash value of that part of the building damaged; or (2) That proportion of the cost to repair or replace, without deduction for depreciation, that part of the building damaged, which the total amount of insurance in this policy on the damaged building bears to 80% of the replacement cost of the building. c. To determine the amount of insurance required to equal 80% of the full replacement cost of the building immediately before the loss, do not include the value of: (1) Excavations, footings, foundations, piers, or any other structures or devices that support all or part of the building, which are below the undersurface of the lowest basement floor; (2) Those supports described in (1) above which are below the surface of the ground inside the foundation walls, if there is no basement; and (3) Underground flues, pipes, wiring and drains. d. We will pay no more than the actual cash value of the damage until actual repair or replacement is complete. Once actual repair or replacement is complete, we will settle the loss as noted in 2.a. and b. above. However, if the cost to repair or replace the damage is both: (1) Less than 5% of the amount of insurance in this policy on the building; and (2) Less than $2,500;