Common use of Settlement Methods Clause in Contracts

Settlement Methods. The equipment of Party B accesses to the mobile data network of Party A through the fiber, and the billing information shall be subject to the information provided by Party A. Specific information is as below: 6.2.1 The billing period is from 00:00 of the first day of each month until the 24:00 of the last day of that month. It may be settled on a monthly basis, and the settlement period is from the 15th day of each month until the end of that month. The period during which the fee is accrued is from the first day of the previous month until the last day of the end of that month, and Party A will calculate the payable information service fee accrued during that month after expiration of the normal billing period, and the Parties shall conduct the settlement in accordance with these rules. 6.2.2 The billing system of Party A will generate the total payable information service fee for IVR services that is accrued during that month, and Party A shall pay 70% of the amount to Party B, and will require Party B to issue a service trade invoice. 6.2.3 The Parties shall conduct the settlement and effect payment in strict compliance with the rules concerning the settlement methods and period. If Party A fails to pay the settlement amounts after the lapse of payment date, it shall pay Party B on a daily basis a penalty at 1‰ of the total information service fee, unless the delayed payment by Party A is caused due to the delayed delivery of the invoice.