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one hundred and one), The premise of payment (the events or performance requirements) to which the property is similar shall be considered being not in compliance Together with the conditions of your agreement instead of payable (if the assets is part of or necessary for overall performance), as well as Contractor shall refund the connected efficiency-dependent payments in accordance with paragraph (d) of this clause.

Some money instruments – in some cases named compound instruments – have both of those a legal responsibility and an equity element in the issuer's point of view. In that circumstance, IAS 32 demands the part components be accounted for and introduced separately In keeping with their substance determined by the definitions of legal responsibility and fairness.

(2) payment was refused through the bank or other drawee for deficiency of funds or insufficient money on presentation in thirty times just after situation and also the issuer did not fork out the holder in entire within 10 days after getting discover of that refusal.

(1) "Adulterated" means various from your typical of composition or high-quality prescribed by legislation or established by proven professional use.

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(three) The Contractor is delinquent in payment of any subcontractor or provider underneath this deal from the normal program of business enterprise.

(6) "Unmanned teller machine" means a equipment, in addition to a phone, effective at being operated by a consumer, by which a buyer may communicate to a monetary institution a ask for to withdraw a profit for himself or for an additional directly from the customer's account or from The shopper's account under a line of credit score previously licensed via the establishment for The client.

(five) So that you can purchase for its very own use or eliminate house to which title is vested in the Government below this clause, the Contractor shall obtain the Contracting Officer’s advance acceptance on the motion as well as conditions. If accepted, The premise for payment (the activities or functionality requirements) to which the property is relevant shall be considered for being not in compliance with the phrases of your contract and not payable (If your property is part of or wanted for overall performance), plus the Contractor shall refund the relevant performance-primarily based payments in accordance with paragraph (d) of this clause.

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The Contracting Officer may perhaps, Anytime, involve the Contractor to substantiate the successful overall performance of any event or functionality criterion which has been or is represented as getting payable.

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