Benefit from Commissions, Discounts etc Clause Samples

The 'Benefit from Commissions, Discounts etc' clause defines how any financial advantages such as commissions, discounts, rebates, or similar benefits received in connection with a contract are to be handled. Typically, this clause specifies whether such benefits are to be retained by the party receiving them or passed on to the other party, and may require disclosure of these benefits. Its core function is to ensure transparency and fairness in the allocation of financial incentives, preventing conflicts of interest and clarifying entitlement to any ancillary financial gains arising from the contractual relationship.
Benefit from Commissions, Discounts etc. Payment to the Consultant shall constitute the Consultant’s only payment in connection with this Contract or the Services, and the Consultant shall not accept for their own benefit any trade commission, discount, or similar payment in connection with activities pursuant to this Contract or to the Services or in the discharge of their obligations under the Contract, and the Consultant shall use their best efforts to ensure that the Personnel, any Sub-Consultants, and agents of either of them similarly shall not receive any such additional benefits.
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Benefit from Commissions, Discounts etc. 21.1.1 The payment of the Tenderer pursuant to GCC F (Clauses GCC 38 through 42) shall constitute the Tenderer's only payment in connection with this Contract and, subject to Clause GCC21.1.3,the Tenderershall not accept for its own benefit any trade commission, discount or similar payment in connection with activities pursuant to this Contract or in the discharge of its obligations here under, and the Tenderer shalluse its best efforts to ensure that any Tenderers, as well as the Experts and agents of either of them, similarly shall not receive any such additional payment. 21.1.2 Furthermore, if the Tenderer, as part of the Services, has the responsibility of advising KoTDAon the procurement of goods, works or services, the Tenderer shall at all times exercise such responsibilityin the best interest of KoTDA. Any discounts or commissions obtained by the Tenderer in the exercise of such procurement responsibility shall be for the account of KoTDA.
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Benefit from Commissions, Discounts etc. The payment of the Lead Advisor pursuant to this Contract shall constitute the Lead Advisor’s only payment in connection with this Contract or the Services, and the Advisory Consortium shall not accept for their own benefit any trade commission, discount, or similar payment in connection with activities pursuant to this Contract or to the Services or in the discharge of their obligations under the Contract, and the Advisory Consortium shall use their best efforts to ensure that the Personnel, any Sub-Consultants, and agents of either of them similarly shall not receive any such additional payment.
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Related to Benefit from Commissions, Discounts etc

  • Public Benefits ‌ 5.1 Developer to provide Public Benefits‌ The Developer must, at its cost and risk, provide the Public Benefits to the City in accordance with this document.

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  • Call Back Compensation (a) Call back is an occasion where an employee has been released from duty and is called back to work prior to his/her normal starting time. On such occasions, the employee’s scheduled or recognized shift shall be made available for work, except that the Agency shall not be obligated to work the employee more than twelve (12) consecutive hours and the employee may choose not to work more than twelve (12) consecutive hours, excluding meal periods, of combined call back time and regular shift time. (b) An employee who is called back to work outside his/her scheduled workshift shall be paid a minimum of the equivalent of two (2) hours pay at the overtime rate of pay computed from when the employee actually begins work. After two (2) hours work, in each call back situation, the employee shall be compensated at the appropriate rate of pay for time worked. (c) This provision does not apply to telephone calls at home or overtime work which is essentially a continuation of the scheduled workshift.

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  • How Are Contributions to a ▇▇▇▇ ▇▇▇ Reported for Federal Tax Purposes You must file Form 5329 with the IRS to report and remit any penalties or excise taxes. In addition, certain contribution and distribution information must be reported to the IRS on Form 8606 (as an attachment to your federal income tax return.)