Paymaster

07:57 Apr 23, 2024

English to Arabic translations [PRO]
Law/Patents - Law: Contract(s)

English term or phrase: Paymaster

IRREVOCABLE SUB-FEE PROTECTION AGREEMENT (ISFPA)
This Irrevocable sub-fee protection agreement (ISFPA) (the "Agreement") is made and entered into as of the x by and between,
x, a company incorporated under the laws of the x is the paymaster for this agreement to the intermediaries, private people listed below separately.
1. Scope of Transactions and Fee Payment
This Agreement shall cover all Transactions originating from the introductions of the Intermediaries paid by the buyer to the paymaster. This includes renewals, extensions, rollovers, additions, or any new or transfer contract related to the Transaction.
Buyer agrees to pay a total commission of .5% LBMA in each Transaction (the "Commission"). LHR Oil and Gas Consulting Limited shall receive 0.5% LBMA. The Commission shall be paid to each Intermediary upon the execution of each successful delivery and at the same time as the payment to Seller is due as per the terms of the Sales and Purchase Agreement between Buyer and Seller.

6. Commission payment terms and conditions

A. This sub-fee protection agreement (“SFPA”) is issued on behalf of the paymaster named above (“the Paymaster”). Payments by the Paymaster to the Intermediaries (“the Payments”) will be made after each arrival of funds on behalf of the Intermediaries to the Paymaster. The Payments shall be paid by the Paymaster to the intermediaries as per the above commission shares.

aya omar KudoZ activity Questions: 3240 (16 open) (95 closed without grading) Answers: 4 Egypt
Local time: 01:02

Summary of answers provided

4 +2

أمين الصندوق/مسؤول الصرف/مسؤول الرواتب

TargamaT team

4 +1

وسيط دفع (العمولات)

Reem Mansour

صرّاف المرتبات / صرّاف الرواتب

Assem AlKhallouf

Answers

2 mins confidence:

صرّاف المرتبات / صرّاف الرواتب

Explanation:
"A paymaster is someone appointed by a group of buyers, sellers, investors or lenders to receive, hold, and dispense funds, commissions, fees, salaries (remuneration) or other trade, loan, or sales proceeds within the private sector or public sector."

Assem AlKhallouf
Local time: 01:02
Native speaker of:

Arabic,

English
PRO pts in category: 16

22 mins confidence:

peer agreement (net): +2

paymaster أمين الصندوق/مسؤول الصرف/مسؤول الرواتب

Explanation:
أمين الصندوق/مسؤول الصرف/مسؤول الرواتب

TargamaT team
France
Local time: 00:02
Native speaker of:

Arabic,

French
PRO pts in category: 481

22 mins confidence:

peer agreement (net): +1

paymaster وسيط دفع (العمولات)

Explanation:
In most cases, the buyer and the seller involved in the transaction require a paymaster be named to handle all incoming and outgoing funds. A paymaster is a neutral third party and has no knowledge of any particulars of the transaction. They handle the incoming commissions, and then disburses the funds accordingly.

https://www.linkedin.com/pulse/what-paymaster-saman-fadavi/

Reem Mansour
Egypt
Local time: 01:02
Specializes in field
Native speaker of:

Arabic
PRO pts in category: 20

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