Article 3: Payment, settlement method and time
Party A is obliged to make payment as per the standard and content agreed by both parties, and in case of any controversial costs not covered herein, Party A shall have the right to refuse to make such payment.
Party B shall settle with Party A on fixed period (XXX)/amount (XXX) basis. Party A, upon receipt of the detailed statements provided by Party B, shall verify and confirm them with Party B within ____ working days; failure of verification and confirmation of such information by Party A within the foregoing time limit shall be deemed that Party A has done so.
After confirmation of the statements provided by Party B, Party A is obliged to make payment in cash, check or remittance within ____ working days and submit the evidencing documents thereafter. Party B, upon its receipt of the remittance information, shall confirm its receipt of such information with Party A within ____ working days, otherwise it shall be deemed that Party B has received the remittance.
In case the prices of the services provided by Party B change, it shall notify Party A of such matter ____ working days in advance and the change shall be agreed by both parties, otherwise the price list provided in the annex of this contract shall continue to be applicable.
Party A agrees to accept 2-4 legible standard statements per month and refuses to accept sporadic statements. All items and time on such statements shall be legible and accurate. Party B is obliged to review such statements, and in case Party B fails to do so accurately and such failure further requires Party A to recheck the statements, Party A will charge 1% of the amount of statements as reconciliation fee.
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