Payment terms and conditions outline the specifics of how and when a party will be compensated for goods or services provided. They typically include details on the payment method, due dates, any interest or penalties for late payments, and any discounts available for early payments.
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.
PAYMENT TERMS: The Borrower will repay the Monies and Interest in accordance with the Payment Terms; and
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.
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.
The entity has a practice of either offering a broad range of price concessions or changing the payment terms and conditions of similar contracts in similar circumstances.
PAYMENT TERMS AND CONDITIONS 1.1 Prepayment. At any time and from to time to time beginning on the Issue Date up until one (1) year later on Dec 15th 2024, Borrower shall have the right to prepay the outstanding balance on this Note in part or in full. Any notices of prepayment (“Prepayment Notice”) shall be delivered to the Holder via email at [email protected] and shall state: (a) that the Borrower is exercising its right to prepay the Note, (b) the date of prepayment which shall be not more than ten (10) business days from the date of the Prepayment Notice, and (c) the amount of prepayment, if not the Principal Amount.
Payment Terms and Conditions. A. Parties agree that the purchase price for the water rights set forth in Exhibit A is [Redacted] and that Buyer will pay the purchase price to the Qualified Intermediary or its assigns under the Water Rights Purchase Agreement. (i) The Parties understand and expressly agree that the purchase price is based on the afa of the water rights set forth on Exhibit A as allocated for irrigation use. The Parties expressly agree that any reduction in afa transferred to the Buyer based on the change in consumptive use, or anv other administrative reductions not related to Seller's title to the water rights. arising from the change of use from irrigation purposes to use for industrial purposes shall have no bearing on the purchase price and Buyer solely accepts the risk of any such reduction. (ii) Buyer and Seller agree to support, in good faith, any change application submitted bv Buyer to the Nevada State Engineer. In the event that Seller does not have marketable title, as determined by the Nevada State Engineer, to at least 2.500 afa of irrigation water rights as set forth in Exhibit A, then the purchase price shall be adjusted proportionally based upon the rights determined to be owned by the Seller prior to the transfer by the Nevada State Engineer. It-the Seller is not able to transfer 2,500 afa of irrigation rights. as determined bv the Nevada State Engineer. then the parties may agree to exchange the pro rata value of the rights less than 2,500 afa for environmental reclamation credits on lands by the Seller. The value of the environmental reclamation credits shall be determined in good faith between the Buyer and the Seller based on similar precedent transactions in Nevada. (iii) Buyer must 'take or pay' for' all water rights available for sale by the Seller as described in this agreement. B. Buyer will make a down payment of $[Redacted] at the closing which shall occur on December 3. 2018. Payment shall be made to the qualified intermediary identified by Seller. C. Interest on the unpaid principal balance shall be due annually on November I beginning in 2019 as follows: Year l : three percent (3%) interest Year 2: four percent (4%) interest Years 3-5: five percent (5%) interest. D. If not sooner paid, the entire accrued interest shall be due and payable on the 5th anniversary of this Supplement. E. The projected payment schedule is attached hereto as Exhibit B. F. Late Payment Provisions. (i) If any regularly scheduled interest payment is not received by the Seller on the date it is due. Buyer will be charged a late fee of 18%, or the highest amount that is not considered Usery under state law, interest on the outstanding interest payment due ("late fee"). (ii) If Buyer has not made payment within two weeks of November I of each year, Seller may provide written notice to Buyer of the non-payment in accordance with Section VIII of this Agreement. Buyer shall have thirty (30) days from the receipt of such notice to make the payment due (together with any interest due).
Payment terms and conditions vary, but payments are generally due within 30 to 45 days after the end of each month.
Payment terms and conditions vary, but payments are generally due periodically throughout the term of the contract.
Payment Terms and Conditions Should you remain eligible, and if the terms triggering payout of the Transaction Bonus are satisfied, the Transaction Bonus will be paid to you in a lump sum cash payment within forty-five (45) days following the Closing. The Transaction Bonus is subject to all standard tax and other payroll withholdings. Notwithstanding any provision contained herein, payment to you of any Transaction Bonus shall be conditioned on: (1) your signing, and not revoking, a release of claims, in a form acceptable to the Company’s general counsel, that becomes effective and irrevocable pursuant to its terms within thirty (30) days after the Closing; (2) your continuous active employment with the Company through the Closing; and (3) your continuing compliance with the terms of this agreement, including with respect to your obligations of confidentiality contained herein.
Payment terms and conditions vary by contract type, although terms generally include a requirement of payment within 30 days. There are no significant judgments that significantly affect the amount or timing of revenue from contracts with customers.
The Company’s standard payment terms and conditions generally require payment within thirty days of the invoice date; however, timing of payment with specific customers may be separately negotiated.
PURCHASE, PAYMENT TERMS AND CONDITIONS 1.01 Purchase. Subject to the satisfaction of the conditions and terms set forth herein, the Purchaser consents and agrees to purchase 1,000 Shares from the Sellers, and as such the Sellers herein agrees to sell, transfer, convey and deliver to the Purchaser the aforementioned number of Shares. The Corporate shareholders Mr. Haochen Li and Mr. Stephen Mark RIVERS consent and agree to sell 620 and 380 shares respectively to the Purchaser. 1.02 Payment. Party A agrees to pay Party B1 $31,000 US dollars for 620 Shares of the Corporation and Party A agrees to pay Party B2 $19,000 US dollars for 380 Shares of the Corporation A deposit of 50% of the share purchase price shall be paid to Party B1 and B2 within five business days after the agreement is signed. The remaining balance of the payment shall be paid within five business days after the official registration of the 1,000 ordinary shares under the Purchaser’s name is completed. (a) The purchase shall be paid by wire transfer to the Sellers’ individual bank accounts designated in writing. (b) Mr. Haochen Li and Mr. Stephen Mark RIVERS shall retain 10% of dividend rights of the Corporation’s Griggs Program in exchange for the sale of their ordinary shares. The Purchaser guarantees to pay an annual minimum of $20,000 US dollars to Party B1 and $10,000 US dollars to Party B2 as a retainer if no dividend is to be declared along with the Corporation operates. The payment of the retainer shall commence 1 September 2022 and remain in effect until 31 August 2032 if, in case of, the Corporation terminates its operation before 31 August 2032. Dividend and/or retainer payment shall be paid by the Sellers’ individually designated bank accounts on or before 2 April of each year. 1.03 Arrangement for Key Persons. The Corporation’s current shareholder Mr. Haochen Li shall remain in employment with the Corporation for a minimum period of ten years, to conclude on 31 August 2032. Ms. Lisa Kerr and Ms. Leila Qiu shall be guaranteed employment with the Corporation for a minimum period of five years. Thereafter the employment period may be extended as agreed by negotiating parties. Mr. Stephen Mark RIVERS shall continue to engage in the Corporation operation as Academic Advisor for the Griggs Program only for a minimum period of five years. In the event that Mr. Haochen Li, Mr. Stephen Mark Rivers, Ms. Lisa Kerr or Ms. Leila Qiu is unable to fulfil any duties, such replacements shall solely be authorized by Griggs USA. The Seller may offer new employment conditions to any replacement key person(s) authorized by Griggs USA. All Parties agree to include the key persons to the Corporation: Ms. Fan Zhou as Executive Director, Mr. Haochen Li as Chairman and Chief Representative, Asia Pacific, Mr. Stephen Mark RIVERS as Academic Advisor for the Griggs Program, Mr. Zaiyi Liao as Director and Chief Academic Officer, Mr. Guiping Xu as Chief Financial Officer, Ms. Lisa Kerr as Academic Director of the Griggs Program and Ms. Leila Qiu as Administrator of the Griggs Program. 1.04 Compensation for Key Persons. Mr. Haochen Li, Ms. Lisa Kerr and Ms. Leila Qiu shall continue to draw salaries and benefits from the Corporation at the current employment contract rate as of the Effective Date hereof, or as increased by consent of the holders of a majority of the issued and outstanding shares of the Corporation, so long as they are employed by the Corporation according to the terms set in Section 1.03. Mr. Stephen Mark RIVERS shall receive $10,000 US dollars per year from the Corporation from the Effective Date hereof, or as increased by consent of the holders of a majority of the issued and outstanding shares of the Corporation, so long as they are employed by the Corporation according to the terms set in Section 1.03. Both Mr. Haochen Li and Mr. Stephen Mark RIVERS are eligible to the Purchaser’s stock options for executives and key persons subject to its Board approval. 1.05 The Griggs China Board. Following completion of the transaction, the Board shall include the following three members / directors: Ms. Fan Zhou, Mr. Haochen Li (Chairman), Mr. Zaiyi Liao. Mr. Haochen Li has the one vote power of rejection of all votes pertaining to the Griggs Program only if the motion will not cause damages to the Program and negatively impact the development and expansion of the Program. 1.06 Conditions and Date of Closing. The obligations of the Parties to complete all contemplated transactions herein shall be subject, in conjunctions with other items, to the satisfactions of the following conditions: (a) Completion of share registration; (b) Completion of the purchase payment; (c) Finally, any and all essential steps to achieve a Closing shall be completed before 31 August 2022, registration complete date or the Closing Date. The aforementioned Closing Date may be subject to a mutually agreed upon extension or postponement by both parties. 1.08 Share Registration. The Sellers, upon receipt of the deposit shall cancel or transfer said number of Ordinary Shares directly back to the Purchaser through the Sellers' appointed and duly authorized attorney, officer or agent. The Corporate shall complete share registration for the Purchaser in five business days after the Closing Date.
Payment terms and conditions refer to the specific conditions and requirements that dictate how and when payments should be made between parties involved in a financial transaction. These terms are designed to ensure clarity and fairness, preventing misunderstandings and disputes related to payments. They typically outline details such as due dates, discounts for early payments, penalties for late payments, acceptable payment methods, and any other necessary guidelines.
You should use payment terms and conditions in any scenario involving the exchange of goods, services, or any assets for payment. They are crucial in the following situations:
Using clearly defined payment terms helps avoid confusion and protects both parties’ interests, serving as a foundation for a smooth financial transaction.
Writing effective payment terms and conditions involves clearly listing all the expectations and requirements associated with payment for goods or services. Here are steps and tips to guide you:
Example: Payments must be made in USD via bank transfer within 30 days of invoice receipt. A 2% discount is applicable for payments made within 10 days. Late payments will incur a 5% interest per month.
Payment terms and conditions are a standard component in several types of contracts, including:
These contracts ensure mutual understanding and establish legal obligations regarding financial transactions. Including detailed payment terms helps prevent disputes and promote business efficiency.
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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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