Common use of Member Statements Clause in Contracts

Member Statements. ‌ 5.5.1 Fram Farmers shall issue the Member with a Member Statement at any time. Each Member Statement shall include at least the following information:‌ 5.5.1.1 the total charge due from the Member to Fram Farmers in respect of the Supplier Invoices received by Fram Farmers relating to relevant Transactions;‌ 5.5.1.2 the relevant Member Code; 5.5.1.3 a copy of each relevant Supplier Invoice received by Fram Farmers that have not been included on a prior Member Statement, to which the total charges (as described in 5.5.1.1) relate; 5.5.1.4 the last date on which the Member can challenge the Member Statement; 5.5.1.5 the Payment Date. 5.5.2 The Member Statement shall set out the process under which a Member may challenge all or any part of the Member Statement in good faith (for the avoidance of doubt, a failure to specify this process shall in no way affect the validity of the Member Statement). The Parties shall use reasonable endeavours to resolve any such challenge in advance of the Payment Date. If a Member does not challenge a Member Statement in accordance with this section by the date indicated on the Member Statement, the Member will be deemed to have accepted the Member Statement. 5.5.3 If the total charge is adjusted between the date of Member Statement and the Payment Date, Fram Farmers shall reissue the Member Statement so as to include the revised amount (for the avoidance of doubt, the reissue of a Member Statement in accordance with this section shall not amend the original Payment Date). 5.5.4 By placing any Order and accepting these Terms, the Member acknowledges and understands that it is the ultimate recipient of the Goods and/or Services to which the Supplier Invoice(s) relate.