Consideration and Compensation Clause Samples
The Consideration and Compensation clause defines the payment or benefit that one party provides to the other in exchange for goods, services, or obligations under the agreement. It typically outlines the amount, form, and timing of payments, and may specify conditions for invoicing, reimbursement, or adjustments. This clause ensures both parties clearly understand their financial obligations, reducing the risk of disputes over payment and establishing a fair exchange of value.
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Consideration and Compensation. Service Provider will be compensated based on a fixed sum for the specific project and services performed hereunder at the amounts set forth in Exhibit “A” (which shall be contingent and based upon the option selected by County). The amount of compensation paid to Service Provider shall be capped and paid upon final completion. Payment for goods and services shall be governed by Chapter 2251 of the Texas Government Code. An invoice shall be deemed overdue the 31st day after the later of (1) the date the County receives the goods under the contract; (2) the date the performance of the service under the contract is completed; or (3) the date the Williamson County Auditor receives an invoice for the goods or services. Interest charges for any overdue payments shall be paid by the County in accordance with Texas Government Code Section 2251.025. More specifically, the rate of interest that shall accrue on a late payment is the rate in effect on September 1 of the County’s fiscal year in which the payment becomes due. The said rate in effect on September 1 shall be equal to the sum of one percent (1%); and (2) the prime rate published in the Wall Street Journal on the first day of July of the preceding fiscal year that does not fall on a Saturday or Sunday.
Consideration and Compensation. Service Provider will be compensated based on the amount set forth in Exhibit A. Payment for goods and services shall be governed by Chapter 2251 of the Texas Government Code. An invoice shall be deemed overdue the 31st day after the later of (1) the date the County receives the goods under the contract; (2) the date the performance of the service under the contract is completed; or (3) the date the Williamson County Auditor receives an invoice for the goods or services. Interest charges for any overdue payments shall be paid by the County in accordance with Texas Government Code Section 2251.025. More specifically, the rate of interest that shall accrue on a late payment is the rate in effect on September 1 of the County’s fiscal year in which the payment becomes due. The said rate in effect on September 1 shall be equal to the sum of one percent (1%); and (2) the prime rate published in the Wall Street Journal on the first day of July of the preceding fiscal year that does not fall on a Saturday or Sunday. The County is a political subdivision under the laws of the State of Texas and claims exemption from sales and use taxes. The County agrees to provide exemption certificates to Service Provider upon request. Likewise, the County is neither liable for any taxes, charges, or fees assessed against Service Provider for the supplies or products provided or any Services rendered.
Consideration and Compensation. A. As partial consideration, CONSULTANT agrees to perform the work listed in the SCOPE OF SERVICES, attached as Exhibit A;
B. As additional consideration, CONSULTANT and CITY agree to abide by the terms and conditions contained in this Agreement;
C. As additional consideration, CITY agrees to pay CONSULTANT an amount not to exceed $ , for CONSULTANT’s services, unless otherwise specified by written amendment to this Agreement.
D. No additional compensation shall be paid for any other expenses incurred, unless first approved by the City Manager or his designee.
E. CONSULTANT shall submit to CITY, by not later than the 10th day of each month, its ▇▇▇▇ for services itemizing the fees and costs incurred during the previous month. CITY shall pay CONSULTANT all uncontested amounts set forth in the CONSULTANT'S ▇▇▇▇ within 30 days after it is received.
Consideration and Compensation. Vendor will be compensated based on a fixed sum for the specific project herein. The amount of compensation paid to Vendor for the goods shall be capped and paid in the amount set out in Exhibit “A”. Payment for goods and services shall be governed by Chapter 2251 of the Texas Government Code. An invoice shall be deemed overdue the 31st day after the later of (1) the date the County receives the goods under the contract; (2) the date the performance of the service under the contract is completed; or (3) the date the Williamson County Auditor receives an invoice for the goods or services. Interest charges for any overdue payments shall be paid by the County in accordance with Texas Government Code Section 2251.025. More specifically, the rate of interest that shall accrue on a late payment is the rate in effect on September 1 of the County’s fiscal year in which the payment becomes due. The said rate in effect on September 1 shall be equal to the sum of one percent (1%); and (2) the prime rate published in the Wall Street Journal on the first day of July of the preceding fiscal year that does not fall on a Saturday or Sunday.
Consideration and Compensation. Service Provider will be compensated based on a fixed sum for the specific project herein. The not-to-exceed amount under this agreement is $4,952.00, unless amended by a change order and approved by the ▇▇▇▇▇▇▇▇▇▇ County Commissioners Court. Payment for goods and services shall be governed by Chapter 2251 of the Texas Government Code. An invoice shall be deemed overdue the 31st day after the later of (1) the date The County receives the goods under the contract; (2) the date the performance of the service under the contract is completed; or (3) the date the ▇▇▇▇▇▇▇▇▇▇ County Auditor receives an invoice for the goods or services. Interest charges for any overdue payments shall be paid by The County in accordance with Texas Government Code Section 2251.025. More specifically, the rate of interest that shall accrue on a late payment is the rate in effect on September 1 of The County’s fiscal year in which the payment becomes due. The said rate in effect on September 1 shall be equal to the sum of one percent (1%); and (2) the prime rate published in the Wall Street Journal on the first day of July of the preceding fiscal year that does not fall on a Saturday or Sunday.
Consideration and Compensation. Service Provider will be compensated based on a fixed rate as set out in Exhibit “A.” The not-to-exceed amount under this MSA is Five Hundred Thousand Dollars ($500,000) per term, unless amended and approved by Williamson County Commissioners Court. Payment for goods and services shall be governed by Chapter 2251 of the Texas Government Code. An invoice shall be deemed overdue the 31st day after the later of (1) the date the County receives the goods under the contract; (2) the date the performance of the service under the contract is completed; or (3) the date the Williamson County Auditor receives an invoice for the goods or services. Interest charges for any overdue payments shall be paid by the County in accordance with Texas Government Code Section 2251.025. More specifically, the rate of interest that shall accrue on a late payment is the rate in effect on September 1 of the County’s fiscal year in which the payment becomes due. The said rate in effect on September 1 shall be equal to the sum of one percent (1%) and the prime rate published in the Wall Street Journal on the first day of July of the preceding fiscal year that does not fall on a Saturday or Sunday.
Consideration and Compensation. In full consideration of Subcontractor's satisfactory performance of the Work, Contractor agrees to pay Subcontractor in accordance with the terms established in this Agreement subject to any limitations or conditions contained herein. Unless amended in writing and signed by the Parties, Contractor is not obligated to pay any amount in excess of the stated Compensation. Unless expressly stated, the Compensation agreed upon herein includes all sales and use taxes, franchise, excise, and other taxes and governmental impositions of all kinds, and is not subject to an addition for any such taxes or impositions assessed.
Consideration and Compensation. Service Provider will be compensated based on a fixed rate as set out in the cooperative purchasing contract (22/049MF-15). The not- to-exceed amount under this MSA is Five Hundred Thousand Dollars ($500,000) per term, unless amended and approved by Williamson County Commissioners Court. Payment for goods and services shall be governed by Chapter 2251 of the Texas Government Code. An invoice shall be deemed overdue the 31st day after the later of
Consideration and Compensation. In full consideration of Subcontractor's satisfactory performance of the Work, Contractor agrees to pay Subcontractor in accordance with the terms established in the Compensation section at the beginning of this Agreement subject to any limitations or conditions contained herein. Unless amended in writing and signed by the Parties, Contractor is not obligated to pay any amount in excess of the stated Compensation. Unless expressly stated, the Compensation agreed upon herein includes all sales and use taxes, franchise, excise, and other taxes and governmental impositions of all kinds, and is not subject to an addition for any such taxes or impositions assessed. When applicable, Subcontractor shall notify Contractor in writing when the cost incurred under Cost Reimbursement, Fixed Unit Rate or Time and Materials tasks have reached 75% of the total Compensation, or earlier if Subcontractor has reason to believe that the costs it has incurred and expects to incur will exceed the amount authorized.
Consideration and Compensation. (a) No party is required to pay any compensation to the other party for services rendered pursuant to this agreement.
(b) The mutual advantage and protection afforded by this Agreement is adequate consideration to both Parties.
(c) Each Party to this Agreement shall comply with workers compensation laws of the State of Georgia without any cost to the other Party.
(d) Each Party shall pay its own personnel without cost to the other Party.