Balance of Contract Clause Samples
The 'Balance of Contract' clause defines the remaining amount owed or outstanding obligations under a contract after certain payments or deliverables have been made. In practice, this clause is used to calculate what is still due from one party to another, often after progress payments, partial deliveries, or deductions for completed work. Its core function is to provide a clear accounting of what remains to be fulfilled or paid, ensuring both parties have a mutual understanding of their ongoing responsibilities and reducing the risk of disputes over payment or performance.
Balance of Contract. In the event that an employee selects a contract payment schedule that provides monthly amounts less than actual time calculated earnings, the balance of said earnings will be awarded upon termination. In the case of death of the employee, the District shall pay the balance of the earnings to the proper survivors or the estate of the deceased. Such payments are to be made within thirty 30 days of termination of employment. It is not the purpose of this provision to interfere with the assessment of any bona fide pay deductions.
Balance of Contract. Any balance in the professional educator's contractual salary, due to a professional educator not returning to the District, shall be paid by the end of the first business day after the last day of employment, unless otherwise provided by the written consent of the professional educator.
Balance of Contract. Any balance in the employee's contractual salary, due to an employee not returning to the District, shall be paid by the end of the first business day after the last day of employment, unless otherwise provided by the written consent of the employee.