Common use of Security Payment Clause in Contracts

Security Payment. 5.1. The Security Payment is the amount of funds transferred to the Agent by Offline Cashback Partner to ensure the discharge of obligations for crediting the bonus remuneration (Cashback) to Offline Cashback Partner’s Customers as well as the obligations for payment of the Agent Commission. 5.2. The amount of Security Payment shall be determined according to the tariff chosen by the Cashback Partner in the corresponding section of the Personal Account and confirmed by the transfer of the Security Payment in the amount not less than set by the tariff chosen. The list of tariffs may be found in Appendix No. 1 to this Agreement. 5.3. In case of repeated deposit of the Security Payment by the Cashback Partner and available balance on the Cashback Partner’s account, the tariff shall be set based on the amount of funds on the Cashback Partner’s balance and single amount of Security Payment deposited. 5.4. Offline Cashback Partner shall in proper time deposit the amounts of Security Payment as ensuring of discharge of obligations for crediting the bonus remuneration (Cashback) to the Customers. The failure to deposit the Security Payment shall entail the failure to discharge the obligations according to this Agreement by the Agent, which shall result in the fact that the Agent shall be exempt from his/her liability for the failure to discharge the obligations provided by this Agreement.