Entrusted payment definition
Entrusted payment by the Lender means that the Borrower authorizes the Lender to pay the loan funds to the Borrower’s counterparty meeting the purpose agreed herein. In the case of entrusted payment by the Lender, before the release of the loan funds, the borrower shall provide relevant transaction information conforming to the purpose agreed herein, and after the lender’s examination and approval, the loan funds shall be paid to the Borrower’s counterparty through the Borrower’s account in time. Where the Lender is entrusted with the payment method, if the loan funds are returned after the loan funds are paid to the borrower’s counterparty due to the cancellation, rescission, invalidity or other reasons of the underlying transaction contract, the lender shall have the right to receive the loan funds returned in advance in accordance with Article 12 hereof.
Entrusted payment means that Bank of Beijing will pay the loan funds through the Borrower’s account to the Borrower’s counterpart meeting the purpose agreed herein according to the Borrower’s withdrawal application and payment authorization.
Entrusted payment in this contract means that Party A, based on Party B’s withdrawal application and payment authorization, pays the loan to Party B’s transaction object conforming to the purpose agreed in this Contract through a special account issued by the loan.Independent payment means that Party A shall, according to Party B’s withdrawal application, release the borrowed funds to the above-mentioned special account for the issuance of the borrowed funds, and Party B shall independently pay the borrowed funds to Party B’s transaction objects conforming to the purposes agreed herein.
Examples of Entrusted payment in a sentence
Entrusted payment means that the Credit Grantor shall pay the credit funds of the Credit Applicant to the transaction object that meets the purposes agreed in this Agreement through the account of Credit Applicant according to the withdrawal application and payment entrustment of the Credit Applicant.
Entrusted payment means Party A pays the loan amount to Party B’s counter-party meeting the purpose specified herein through Party B’s account according to Party B’s drawdown application and payment entrustment.
Entrusted payment by the lender means that the lender, based on the borrower’s withdrawal request and payment authorization, disburses the loan funds through the borrower’s account to the borrower’s transaction counterpart that complies with the contract’s agreed-upon purposes.
Entrusted payment by Lender means that the Lender, upon the Borrower’s withdrawal applications or payment entrustment, pays the loaned fund to the business counterpart of the Borrower with the usage stipulated in this contract through the Borrower’s account.
When Entrusted payment by Lender., the Lender has the right to check whether the payee, paying amount etc.
More Definitions of Entrusted payment
Entrusted payment means a payment made by the Lender on behalf of the Borrower using proceeds from a Loan disbursed by the Lender to the Borrower’s bank account on a Utilisation Date and then transferred by the Lender to a third party in accordance with the Borrower’s written request.
Entrusted payment by the Lender means that the Borrower authorizes the Lender to pay the loan funds to the Borrower’s counterparty that meets the purpose agreed herein.
Entrusted payment by the lender means that the Borrower authorizes the lender to pay the borrowed funds to the borrower With the borrower’s counterparties for the agreed purpose. ' If the entrusted payment method is adopted by the lender, the borrower shall provide the relevant transaction materials in accordance with the purposes agreed herein and approved by the lender before the issuance of the loan funds, and promptly pay the loan funds to the borrower and the borrower’s counterparties through the borrower’s account. If the entrusted payment method of the lender is adopted, after the loan funds are paid to the counterparty of the borrower, if the loan funds are returned due to the cancellation, dissolution or invalidation of the basic transaction contract, the lender shall have the right to collect the returned loan funds in advance in accordance with Article 12 of this Contract.
Entrusted payment the entrusted payment is a payment method for loan funds. It means that the Transaction Acceptance Bank pays the Automobile Consumer Loan to the Distributors of Party B according to the loan application and entrusted payment arrangement from the Customers.
Entrusted payment by the Lender means that the borrower authorizes the lender to pay the borrowed funds to the borrower’s counterparty in accordance with the purposes agreed herein. If the entrusted payment method is adopted by the lender, the borrower shall provide the relevant transaction materials conforming to the purpose agreed herein prior to the issuance of the loan funds, and promptly pay the loan funds to the borrower and the borrower’s counterparties through the borrower’s account. If the entrusted payment method of the lender is adopted, after the loan funds are paid to the counterparty of the borrower, if the loan funds are returned due to the cancellation, dissolution or invalidation of the basic transaction contract, the lender shall have the right to collect the returned loan funds in advance in accordance with Article 12 of this Contract.
Entrusted payment means that the lender pays the loan funds (through the borrower's account) to the borrower's transaction objects conforming to the purpose agreed herein according to the borrower's application for withdrawal and payment authorization. Adoption of entrusted payment for a loan, the lender shall have the right to require the borrower to provide for the agent to pay the relevant documents of such information by the lender, according to the agreed loan purposes, review the borrower to provide payment information such as application object payment amount listed is consistent with the corresponding business contracts and other documents after approved, the lender will loan money by account paid to supporting the borrower transaction object.
Entrusted payment. Has the meaning ascribed to it in Section 3.1;