Common use of Conditions of Payments Clause in Contracts

Conditions of Payments. 5.1 Transfer of funds and currency of payment 5.1.1 The Partner, through the signature of the present Agreement, accepts responsibility for the implementation of the activities indicated in the above Article II. UNESCO will proceed with the relevant payments as reflected in the budget enclosed in Annex II, to be expended under the direct responsibility of the Partner. 5.1.2 All payments shall be made in the currency of the Agreement [insert currency] and as specified in Article 5.2.1 below. 5.1.3 The Partner shall not perform any other services, which may result in any costs in excess of the amount specified above without the prior written agreement of UNESCO. 5.1.4 All payments shall be effected by bank transfer. UNESCO shall be responsible for its own banking fees but any possible intermediary banking fees, as well as the beneficiary’s own banking fees, shall be the responsibility of the Partner. The cost of the local bank transfers will be borne by the Partner. 5.1.5 The Partner shall acknowledge receipt of each payment within seven (7) calendar days of receipt. 5.1.6 The banking instructions for any payment arising from the present Agreement (only one banking instruction) are the following: Name of the Bank:   Address of the Bank:   Name of the Account Holder:   [Shall be the same as the partner’s name] Number of Account:   Bank Code:   IBAN Number:   BIC / SWIFT:  

Conditions of Payments. 5.1 Transfer of funds and currency of payment 5.1.1 The Partner, through the signature of the present Agreement, accepts responsibility for the implementation of the activities indicated in the above Article II. UNESCO will proceed with the relevant payments as reflected in the budget enclosed in Annex II, to be expended under the direct responsibility of the Partner. 5.1.2 All payments shall be made in the currency of the Agreement [insert currencycurrency
] and as specified in Article 5.2.1 below. 5.1.3 The Partner shall not perform any other services, which may result in any costs in excess of the amount specified above without the prior written agreement of UNESCO. 5.1.4 All payments shall be effected by bank transfer. UNESCO shall be responsible for its own banking fees but any possible intermediary banking fees, as well as the beneficiary’s own banking fees, shall be the responsibility of the Partner. The cost of the local bank transfers will be borne by the Partner. 5.1.5 The Partner shall acknowledge receipt of each payment within seven (7) calendar days of receipt. 5.1.6 The banking instructions for any payment arising from the present Agreement (only one banking instruction) are the following: Name of the Bank:   Address of the Bank:   Name of the Account Holder:   [Shall be the same as the partner’s name] Number of Account:   Bank Code:   IBAN Number:   BIC / SWIFT: