Billing Period and Payment Clause Samples

The "Billing Period and Payment" clause defines the schedule and method by which payments are invoiced and settled between parties. Typically, it specifies the frequency of billing—such as monthly or upon completion of certain milestones—and outlines acceptable payment methods, due dates, and any applicable late fees. By clearly establishing when and how payments are to be made, this clause helps prevent misunderstandings and disputes over financial obligations, ensuring both parties have a mutual understanding of the payment process.
Billing Period and Payment. 11.1 On or before the tenth (10th) day of an applicable month, Buyer shall provide the Seller a statement based upon the meter data for the Facility’s output delivered in such previous calendar month and the applicable Contract Price. Seller will review the statement and notify Buyer by the 15th day of the month if it disagrees with the amount to be paid. If Seller does not notify Buyer by the 15th day of the month, Seller shall be deemed to have agreed with the amount specified in Buyer’s statement. Buyer will pay Seller by the 25th day of the month, or within 10 days following notification that Seller is in agreement with ▇▇▇▇▇’s statement or such agreement is established by Seller’s not having responded otherwise. 11.2 If it is not possible to read the meter for any reason, Seller's production may be estimated by ▇▇▇▇▇ on the basis of Seller's production during the most recent preceding billing period for which readings were obtained, unless some unusual condition is known to exist. A bill or payment rendered on the basis of such estimate shall be as valid as if made from actual meter readings. 11.2.1 If it is not possible to read the meter for any reason, Seller shall have 60 days in which to (a) identify to Buyer the impediment(s) to reading the meter and (b) to the extent any impediment is attributable to Seller’s actions or omissions, remove the impediment so that it is possible for Buyer to read the meter.
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Billing Period and Payment. Unless otherwise specifically agreed upon by the Parties, the calendar month shall be the standard period for all payments under this Agreement. The Seller shall read NYSEG’s meters, and issue NYSEG an invoice as soon as practicable after the end of each month, showing the payment obligations, if any, incurred during the preceding month from NYSEG to the Seller for the Energy delivered in accordance with this Agreement during the preceding calendar month. Within ten (10) days after receipt of invoice, NYSEG shall review the invoice and contact the Seller’s billing data checkout contact person per Exhibit A to tie out. Unless otherwise agreed by the Parties, all invoices under this Agreement shall be due and payable in accordance with each Party’s invoice instructions on or before the later of the twenty fifth (25th) day of each month, or tenth (10th) day after receipt of the invoice or, if such day is not a Business Day, then on the next Business Day. Each Party will make payments by electronic funds transfer to the account designated by the other Party. Any amounts not paid by the due date will be deemed delinquent and will accrue interest at the Interest Rate, such interest to be calculated from and including the due date to but excluding the date the delinquent amount is paid in full. The payment will be made per the instructions in Exhibit A. Contact information for invoices and billing are provided in Exhibit A.
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Billing Period and Payment. 11.1 On or before the tenth (10th) day of an applicable month, Buyer shall provide the Seller a statement based upon the meter data for the Facility’s output delivered in such previous calendar month and the applicable Contract Price. Seller will review the statement and notify Buyer by the 15th day of the month if it disagrees with the amount to be paid. If Seller does not notify Buyer by the 15th day of the month, Seller shall be deemed to have agreed with the amount specified in Buyer’s statement. Buyer will pay Seller by the 25th day of the month, or within 10 days following notification that Seller is in agreement with ▇▇▇▇▇’s statement or such agreement is established by Seller’s not having responded otherwise. 11.2 If it is not possible to read the meter for any reason, Seller's production may be estimated by ▇▇▇▇▇ on the basis of Seller's production during the most recent preceding billing period for which readings were obtained, unless some unusual condition is known to exist. A bill or payment rendered on the basis of such estimate shall be as valid as if made from actual meter readings.
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Billing Period and Payment 
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  • Billing Period The calendar month shall be the standard period for all charges and payments under this Agreement. On or before the fifteenth (15th) day following the end of each month, Seller shall render to Buyer an invoice for the payment obligations incurred hereunder during the preceding month, based on the Energy Delivered in the preceding month, and any RECs deposited in Buyer’s GIS account or a GIS account designated by Buyer to Seller in writing in the preceding month. Such invoice shall contain supporting detail for all charges reflected on the invoice, and Seller shall provide Buyer with additional supporting documentation and information as Buyer may request.

  • Invoices and Payment 16.1 Transnet shall pay the Supplier/Service Provider the amounts stipulated in each Purchase Order/Work Order, subject to the terms and conditions of this Agreement. 16.2 Transnet shall pay such amounts to the Supplier/Service Provider upon receipt of a valid and undisputed Tax Invoice together with the supporting documentation, as specified in the Schedule of Requirements appended hereto, once the valid and undisputed Tax Invoices or such portions of the Tax Invoices which are valid and undisputed become due and payable to the Supplier/Service Provider for the delivery of the Goods/Services ordered, in terms of clause 16.5 below. 16.3 Transnet may, pending an investigation, withhold any payments to the Supplier/Service Provider, in the case where irregular expenditure has been identified in the particular contract and that there is reasonable suspicion that the Supplier/Service Provider is involved or was aware that the contract transgressed any legislation. 16.4 All Prices set out in this Agreement and the Schedule of Requirements hereto are to be indicated inclusive and exclusive of VAT, which will be payable at the applicable rate in ZAR. 16.5 Unless otherwise provided for in the Schedule of Requirements appended to this Agreement, Tax Invoices shall be submitted together with a month-end statement. Payment against such month-end statement shall be made by Transnet within 30 [thirty] calendar days after date of receipt by Transnet of the Supplier’s/Service Provider’s statement together with the relevant valid and undisputed Tax Invoice(s) and supporting documentation. 16.6 Where the payment of any Tax Invoice, or any part of a Tax Invoice which is not in dispute, is not made in accordance with this clause, the Supplier/Service Provider shall be entitled to charge interest on the outstanding amount, at The Standard Bank of South Africa’s prime rate of interest in force, for the period from the due date of payment until the outstanding amount is paid. 16.7 The Supplier/Service Provider shall remain the owner of all plant, material, machinery, equipment and the like [collectively, the Supplier’s Goods] provided to Transnet until Transnet has paid in full for the Supplier’s Goods, it being specifically agreed that Transnet shall acquire no rights [including liens] of whatsoever nature in such Supplier’s Goods until date of final payment by Transnet. Subject to the aforegoing, all risk and benefit to the Supplier’s Goods shall pass from the Supplier to Transnet on delivery of the Supplier’s Goods by the Supplier to Transnet.