Fair Payment Sample Clauses
The Fair Payment clause establishes the obligation for payments to be made promptly and equitably between parties, typically in a contractual or commercial context. It sets out the timeframe within which payments must be made after goods or services are delivered, and may specify acceptable payment methods or procedures for resolving payment disputes. By ensuring that all parties receive timely and appropriate compensation, this clause helps prevent cash flow issues and disputes over delayed or withheld payments.
Fair Payment. 26.1 The Supplier shall include in the contract with each sub-contractor or supplier:
26.1.1 a period for payment of the amount due to the sub-contractor or supplier not greater than 5 days after the final date for payment in the Contract; and
26.1.2 a provision requiring the sub-contractor or supplier to include in each sub-sub-contract the same requirement (except that the period for payment is to be not greater than 9 days after the final date for payment in the Contract).
Fair Payment. This is a clause also aimed at improving how subcontractors are paid, similarly endorsed in the Government Construction Strategy 2016. Obligations are placed on the Contractor to assess and promptly pay subcontractors, and to ensure that these obligations are also included in their contracts with subcontractors. It should be noted that Fair Payment is a separate clause with the NEC Boilerplate document, whereas within JCT and PPC it is combined with the SME provisions to form ‘Conditions of Sub-Contracting’ (JCT) or ‘Supply Chain’ (PPC).
Fair Payment. (a) Where the value of the Agreement is less than $3.0 million, the Authority will, on demand by the Contractor, pay simple interest on a daily basis on any overdue amount, at the rate for the time being fixed under section 2 of the Penalty Interest Rates Act 1983 (Vic).
(b) For the purposes of clause 6.4(a), overdue amount means an amount (or part thereof) that:
(i) is not, or is no longer, disputed in accordance with this Agreement;
(ii) is due and owing under a Tax Invoice properly rendered by the Contractor in accordance with this Agreement; and
(iii) has been outstanding for more than 30 days from the date of receipt of the invoice or the date that the amount ceased to be disputed, as the case may be.
Fair Payment. (a) The Library will, on demand by the Service Provider, pay simple interest on a daily basis on any overdue amount, at the rate for the time being fixed under section 2 of the Penalty Interest Rates Act 1983 (Vic).
(b) For the purposes of clause 5.3(a), overdue amount means an amount (or part thereof) that:
(i) is not, or is no longer, disputed in accordance with this Agreement;
(ii) is due and owing under a tax invoice (as defined in the A New Tax System (Goods and Services Tax) ▇▇▇ ▇▇▇▇ (Cth)) properly rendered by the Service Provider in accordance with this Agreement; and
(iii) has been outstanding for more than 30 days from the date of receipt of the invoice or the date that the amount ceased to be disputed, as the case may be.
Fair Payment. (a) The Auditor-General will, on demand by the Audit Service Provider, pay simple interest on a daily basis on any Overdue Amount, at the rate for the time being fixed under section 2 of the Penalty Interest Rates Act 1983 (Vic).
(b) For the purposes of this clause 7.3, Overdue Amount means an amount (or part thereof) that is not, or is no longer, disputed in accordance with this Agreement:
(i) that is due and owing under an invoice properly rendered by the Audit Service Provider in accordance with this Agreement; and
(ii) which has been outstanding for more than 30 days from the date of receipt of the invoice or the date that the amount ceased to be disputed, as the case may be.
Fair Payment. The Consultant must sign up to the Designed for Life: Building for Wales 2 Fair Payment Charter, which is attached as Appendix B to this Schedule 3 and may be varied from time to time by FS by written notice.
Fair Payment. (a) The School Council will, on demand by the Service Provider, pay simple interest on a daily basis on any overdue amount, at the rate for the time being fixed under section 2 of the Penalty Interest Rates Act 1983 (Vic).
(b) For the purposes of clause 7.4(a), overdue amount means an amount (or part thereof) that:
(i) is not, or is no longer, disputed in accordance with this Agreement;
(ii) is due and owing under a Tax Invoice (properly rendered by the Service Provider in accordance with this Agreement); and
(iii) has been outstanding for more than 30 days from the date of receipt of the invoice (or, in accordance with clause 7.2(b), from the commencement of the next Victorian School Term) or the date that the amount ceased to be disputed, as the case may be.