Settlement Cut-off Clause Samples
The Settlement Cut-off clause establishes a specific deadline by which all payments or settlements related to a transaction must be completed. In practice, this means that any funds owed between parties must be transferred and received by the agreed cut-off time, regardless of any delays or issues that may arise. This clause ensures that both parties have a clear understanding of when their financial obligations must be fulfilled, reducing the risk of disputes over late payments and providing certainty in financial operations.
Settlement Cut-off. A transaction is defined as current day Transaction if it is settled before the settlement cut off time, which will be agreed by the parties and included in the project implementation plan for the Designated Territory, prior to commencement of Transaction processing hereunder.
Settlement Cut-off. A transaction is defined as current day Transaction if it is settled before 2.30a.m., China Time (CT) (GMT+ 8 hours) the next day.