Common use of Payment Settlement Clause in Contracts

Payment Settlement. (a) Subject to Section 9{d) below, thexchange will remit payment to Member for traffic sold by Member through thexchange, and Member agrees to remit payment to thexchange for traffic purchased by Member through thexchange, in accordance with invoices issued by thexchange. Member also agrees to pay the applicable fees as specified in the effective Fee Schedule. All fees will be detailed by thexchange to Members. Thexchange reserves the right to modify, impose new, or remove fees from the Fee Schedule pursuant to Section l(b) above. Member is responsible for all applicable taxes and all other costs incurred by Member in connection with participation on thexchange. (b) All traffic routed to a Seller at any U.S. Exchange Delivery Point will be rated based on call durations measured by a thirty (30) second minimum period followed by six (6) second billing increments. All traffic routed to a Seller at the London Exchange Delivery Point will be rated based on call durations measured by one (1) second billing increments. Notwithstanding the above, all traffic routed to a Seller selling a destination in Mexico, regardless of the particular Exchange Delivery Point the Seller is connected to, will be rated based on a one (1) minute minimum period followed by one (1) minute billing increments. Thexchange, in its discretion, may, from time to time on thirty (30) days written notice by web posting and fax or e-mail, introduce additional call duration measurement intervals pursuant to Section l{b) above. (c) All calculations and ratings of calls will be performed to the one thousandth of a cent (US$x.xxxxx). Final settlements will be rounded up in the Trading Account Invoice (as defined below) to the nearest whole cent (US$x.xx) for each destination.