Common use of Wage Clause in Contracts

Wage. The Officer´s basic wage and rates of overtime are set out in the attached Wage Scale, Appendix No 1. The wages are stipulated in US dollars, and the Officer´s account is kept in US dollars. Wage accrues from the day the Officer commences service on board. If he has to travel from the Philippines in order to take up service on board, basic wage accrues from the day of departure from Manila to the day when the Officer arrives at any port of international gateway in the Philippines. Each month he is on board, the Officer is entitled to payment of the remaining 20% of his basic wage after legal deductions have been made. The remaining 80% shall be paid to the beneficiary that the Officer has nominated through any authorized Philippine Bank, and shall be available no later than the 10th of the immediate succeeding month. Overtime remuneration shall be paid out on board, ref. to Article 10 below concerning fixed monthly wages. The rate of exchange for conversion of US dollars into Philippine currency shall be the buying rate of exchange indicated in the credit advice of the local authorized Philippine Bank. The allotment to be paid out on board should be paid out in cash and may be paid out in the port state currency. The Officer will be entitled to a seniority allowance according to the wage scale in appendix No 1:

Wage. The Officer´s basic wage and rates of overtime are set out in the attached Wage Scale, Appendix No 1. The wages are stipulated in US dollars, and the Officer´s account is kept in US dollars. Wage Xxxx accrues from the day the Officer commences service on board. If he has to travel from the Philippines in order to take up service on board, basic wage accrues from the day of departure from Manila to the day when the Officer arrives at any port of international gateway in the Philippines. Each month he is on board, the Officer is entitled to payment of the remaining 20% of his basic wage after legal deductions have been made. The remaining 80% shall be paid to the beneficiary that the Officer has nominated through any authorized Philippine Bank, and shall be available no later than the 10th of the immediate succeeding month. Overtime remuneration shall be paid out on board, ref. to Article 10 below concerning fixed monthly wages. The rate of exchange for conversion of US dollars into Philippine currency shall be the buying rate of exchange indicated in the credit advice of the local authorized Philippine Bank. The allotment to be paid out on board should be paid out in cash and may be paid out in the port state currency. The Officer will be entitled to a seniority allowance according to the wage scale in appendix No 1: