Method of Loan Payment. Methods of loan payment can be divided into direct payment and entrusted payment. The conditions for entrusted payment as agreed by Party A and Party B shall be as follows: In case of the entrusted payment by the lender, Party B shall check that whether the payment counterpart, amount of payment and other information within the application for payment provided by Party A is in accordance with relevant business contract and other certificates prior to transferring the loan funds. After the approval, Party B shall transfer the loan funds to the account of Party A’s counterpart as listed in Party A’s payment order via the account that opens within Party B (account number: _________________________).
Appears in 2 contracts
Sources: Working Capital Loan Contract (Kingold Jewelry, Inc.), Working Capital Loan Contract (Kingold Jewelry, Inc.)