Common use of Payment Entrustment Clause in Contracts

Payment Entrustment. The borrower shall clearly specify the payment entrustment in the withdrawal application, that is, to authorize and entrust the lender to directly pay the loan funds to the borrower’s designated counterpart after transferring the loan funds into the borrower’s account. The borrower shall also provide the name of the recipient, the counter party’s account, payment amount and other necessary payment information.

Payment Entrustment. The borrower shall clearly specify the payment entrustment in the withdrawal application, that is, to authorize and entrust the lender to directly pay the loan funds to the borrower’s 's designated counterpart after transferring the loan funds into the borrower’s 's account. The borrower shall also provide the name of the recipient, the counter party’s account, payment amount and other necessary payment information.

Payment Entrustment. The borrower For payments meeting the Lender’s entrusted payment conditions, the Borrower’s withdrawal application shall clearly specify include a clear payment entrustment, authorizing and delegating the payment entrustment in the withdrawal application, that is, Lender to authorize and entrust the lender to directly pay the loan funds directly to the borrowerBorrower’s designated counterpart specified transaction counterparty account in accordance with the agreed purpose after transferring the loan funds into to the borrowerdesignated Borrower’s account. The borrower Borrower shall also provide the name of the recipient, the counter party’s account, payment amount and other necessary payment information, including the transaction counterparty’s name, account, and payment amount.