Common use of Settlement Process Clause in Contracts

Settlement Process. (a) Subscribers use wireless data service for the first month; (b) Party B may consolidate account with Party A within 15 days of the following month; if the discrepancy is above 5%, the parties shall negotiate for a solution, Party B shall deliver the account reconciliation report and invoice that have been affixed with Party B’s official chop to Party A’s contact person no later than the 25th of the following month; (c) Party A shall remit the settlement payment to the bank account designated by Party B no later than the 28th of the third month; (d) If Party B fails to deliver the account reconciliation report and invoice that have been affixed with Party B’s official chop as Party A has required prior to the 25th of the month following the service, Party A shall postpone the settlement payment of the current month to the end of the following quarter until Party A has received Party B’s account reconciliation report and invoice. (This provision does not constitute the breach of deferred payment as provided in the Agreement.)