Payment terms outline the specifics of how, when, and in what form payment will be made between parties in a contract. This clause typically details the payment schedule, methods of payment, any applicable late fees or interest for overdue amounts, and conditions for invoicing or billing.
Payment Terms: 100% of the total contract price USD36,000 shall be paid by Buyer to Seller by Telegraphic Transfer(T/T) after signing of this agreement before the shipment.
PAYMENT TERMS: The Lender grants the Borrower the Payment Terms, and allows the Borrower to settle the payout of the Monies (including Other Amounts and Interest) prior to the expiry of the Loan Term without penalty; and
PAYMENT TERMS: The Borrower will repay the Monies and Interest in accordance with the Payment Terms; and
Upon the Effective Date of this Amendment No. 1 and continuing through the Term as defined in Section 16.1 of the Agreement as amended by this Amendment No. 1, Supplier shall grant Lannett terms such that any payments due to Supplier, including but not limited to payments for inventory purchases, Net Profit Split, Distribution Fees and Earn Out Payments, etc., shall be made once per calendar quarter within sixty (60) days following the end of each applicable calendar quarter. For the avoidance of doubt, these payment terms shall apply to any and all payments currently due to Supplier as of the Effective Date of this Amendment No. 1 as well as any and all future payments due to Supplier during the Term of the Agreement.
INVOICES and PAYMENT TERMS. 21.1. SUBCONTRACTOR must submit invoices and any expenses for the previous period’s work on the following Monday, to the appropriate CARBONMETA project manager for review and approval. 21.2. Payment terms and conditions shall be specified on each individual Work Order documented in the form of an Schedule A amendment that may be attached to this Master Subcontractor Agreement. 21.2.1. Unless otherwise specified in writing on an individual Work Order, default payment terms are Net-30. 21.2.2. Payments from CARBONMETA to SUBCONTRACTOR may be made in the form of cash, S-8 unrestricted OTCPINK:COWI stock, or restricted OTCPINK:COWI stock as mutually agreed upon by CARBONMETA and SUBCONTRACTOR. 21.3. As specified in accompanying Schedule A Work Order amendments (Fee Schedule and Payment Terms), SUBCONTRACTOR shall submit all invoices to: [xxx] 21.4. Submitted invoices shall contain the following information: Invoice Number Date of Invoice Period covered by this Invoice - From/To Dates Project Code Identification (Number or Name) Services performed (e.g. hours worked, milestones completed) and amounts due Pre-approved travel and/or per diem expenses (if authorized in the Schedule A amendment Fee Schedule and Payment Terms)
Payment Terms: The Purchase Price shall be paid for each monthly batch in accordance with the schedule set forth in the Pre-Order.
Payment Terms and Transfer of Title: Title to ARTICLES shall transfer from the SELLER to the BUYER upon proper payment detailed in the following payment terms. $475,000 shall be due upon satisfactory completion of Buyer's due diligence on the 1270 Dons Ln Property, or 5 days prior to closing, whichever occurs first. BUYER fully understands and agrees that closing on the 1270 Dons Ln real property cannot occur if these payment terms for the Articles are not met. The SELLER shall have the right to postpone the 1270 Don's Ln property closing until proper payment is made for the Articles. All monies paid to SALES REPRESENTATIVE by the BUYER shall be 100% refundable up to the closing of the 1270 Dons Ln real property should Buyer decide not to proceed with the purchase of the real property at 1270 Dons Ln.
Consideration and Payment Terms. As full and complete compensation for the performance of the Managed Services, Rakuten shall pay RADCOM the set-up and integration fee and the service fees set forth in Exhibit B to this SOW (“Service Fee and Payment Terms”) in accordance with the payment terms set forth therein.
Payment Terms. Bemax shall make payments of $200,000 to Supplier on or before the due date with issuance of Bemax’s Series “A” Preferred Shares. Bemax shall pay the Supplier or his assigns twenty million (20,000,000) newly issued Rule 144 restricted Series “A” Preferred Shares of Bemax’s preferred stock, par value $0.0001 at $0.01 per share in exchange for the amount stated on the relevant invoice issued by Supplier to Bemax On March 1, 2021 for supply of Products. This payment plan is enforceable by law, and the methods described below will be use in cases of delinquent payment. It is agreed that a payment of the total amount stated on the Sales Invoice issued by Supplier on March 1, 2021 to Bemax shall be made to Supplier by Bemax as stated on the Payment Terms on or before the due date of March 30, 2021. The entire Payment and Supply Agreement is valid till March 31, 2024.
Payment terms are the conditions set between a buyer and seller that outline the terms under which payments are to be made. These terms define how, when, and under what conditions a payment is to be made by the buyer to the seller for goods or services provided. Payment terms help ensure clarity and understanding between parties, minimize disputes, and potentially encourage timely payment through the use of incentives or penalties.
You should use payment terms in any transaction that involves a significant exchange of goods or services between a buyer and seller. This includes both business-to-business (B2B) and business-to-consumer (B2C) scenarios. Utilizing payment terms is particularly advisable when:
When writing payment terms, clarity and precision are paramount. A well-constructed payment term should include:
Invoice Total: $1,500
Payment Due: Net 30 days from invoice date
Payment Method: Bank transfer preferred
Early Payment Discount: 2% off if paid within 10 days
Late Payment Penalty: 1.5% interest per month on overdue balance
Currency: USD
Payment terms are typically found in various types of contracts, especially those involving the delivery of goods and services. Some common contracts that include payment terms are:
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Dive deeper into the world of clauses and learn more about these other clauses that are used in real contracts.
A penalty clause is a provision in a contract that specifies a monetary charge or other detriment to be imposed on a party if they fail to fulfill certain contractual obligations. It is designed to incentivize compliance and deter breaches by setting predefined consequences for non-performance or other violations.
A per diem clause specifies a daily allowance paid to an individual for expenses incurred while working away from their usual location, covering costs such as meals, lodging, and transportation. This provision ensures that employees or contractors are reimbursed efficiently for necessary business travel expenses.
A performance bond is a financial guarantee issued by a third party, typically a bank or insurance company, ensuring that a contractor will fulfill their obligations as stipulated in a contract. If the contractor fails to perform satisfactorily, the bond provides compensation to the project owner for any resulting financial losses or project completion costs.
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