Accrued Balance Clause Samples

The Accrued Balance clause defines the total amount of money or value that has accumulated over a specified period, typically relating to financial obligations such as interest, fees, or unpaid principal. In practice, this clause outlines how the accrued amounts are calculated, when they are recognized, and under what circumstances they become due, such as at the end of a billing cycle or upon termination of an agreement. Its core function is to ensure both parties have a clear understanding of outstanding amounts owed, thereby preventing disputes and facilitating accurate settlement of accounts.