Common use of Verification Service Clause in Contracts

Verification Service. 3.1 The Supplier shall raise invoices to the Buyer for each successful verification transaction provided through the service. Such invoices shall be in the amount of Verfiication Charge for each successful verification and raised monthly in arrears, payment due by the Buyer within 30 days of receipt. 3.3 The Supplier reserves the right to increase the Transaction Fee at any time, but not more than once in any twelve-month period. The Buyer may however terminate this Agreement upon giving to the Supplier 30 days written notice of its intention to terminate if the Supplier increases the Transaction Fee above the then subsisting cost by more than 15% in not more than once in any twelve-month period.