Common use of Payment by Electronic Transfer Clause in Contracts

Payment by Electronic Transfer. Within the Contract:- (a) the Customer shall instruct its banking service supplier to make payment to the Supplier by means of electronic transfer; (b) each Party to the Contract shall pay for any costs raised by their banking service supplier; (c) recurring payments shall be made on the same calendar day of each month as set out in the Contract; (d) cleared funds shall arrive into the bank account, nominated by the Supplier, on or before the Due Date on the invoice; (e) where the electronic transfer shall not be 'same day', the Customer shall instruct its bank to make payment a sufficient quantity of days ahead of the Due Date, so that;