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How is Proof of Payment defined in a legal contract?

• Proof of Payment means valid evidence that a payment has been made. This could include a record of a completed credit card transaction, automated transfer documentation, or any other proof required to show that a payment has been successfully completed in the required amount. Seen in 44 SEC filings
• Proof of Payment means substantial documentation such as cancelled checks, bank statements, or validation of a successful wire or automated clearing house transfer. These confirmations serve as proof that a payment has indeed been made as claimed. Seen in 7 SEC filings
• Proof of Payment means evidence showing prepayment has been done and authorized for public transportation services. This could take different forms depending on the mode of public transportation in use. Seen in 7 SEC filings
• Proof of Payment means documentation that verifies a payment has been processed and completed. This includes receipts for different methods of payment such as cheques, credit and debit card transactions, wire and online transfers, and in some allowable cases, cash register and personally signed receipts. Seen in 6 SEC filings
• Proof of Payment means a validated fare ordinance issued by a public transit authority for using its facilities. Seen in 7 SEC filings
• Proof of Payment means proof that a payment has cleared and has reference to the associated invoice. The amount paid should match the invoice total. In instances where multiple invoices are paid at once, each should be listed correspondingly with its amount. Seen in 6 SEC Filings

Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

Proof of Payment means a validated record or document certifying a successful monetary transaction.

Relevant Contract Types

• Sales Contract
• Service Agreement
• Purchase Agreement
• Lease Agreement
• License Agreement

Relevant Circumstances

• Transaction completion
• Payment disputes
• Audit procedures
• Compliance procedures

Relevant Sectors

• Retail
• Real Estate
• Finance
• Manufacturing

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Genie Definition 2

Proof of Payment means substantiated evidence of prepaid or authorized transactions for services.

Relevant Contract Types

• Service Agreement
• Subscription Agreement
• Consultancy Agreement

Relevant Circumstances

• Prepayment for services
• Subscription renewals
• Audit procedures

Relevant Sectors

• Service Industry
• Telecommunications
• Software as a Service (SaaS)
• Media and Entertainment

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