Invoice Calculations Clause Samples
The Invoice Calculations clause defines how amounts due under a contract are determined and presented on invoices. It typically outlines the methods for calculating charges, such as specifying rates, quantities, or formulas, and may address the inclusion of taxes, discounts, or additional fees. By standardizing the calculation process, this clause ensures transparency and accuracy in billing, reducing the risk of disputes over payment amounts.
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Invoice Calculations. The purchase price set forth in the Withdrawal Invoice (the “Provisional Transfer Price”) shall be equal to the Transfer Price for the specified Crude Oil Withdrawal. Vitol, acting reasonably, shall use its best estimates for calculating the Transportation and Direct Costs applicable to such Crude Oil Withdrawal to the extent that such amounts are not yet ascertainable. Each Crude Oil Lot, or portion thereof, included in a Crude Oil Withdrawal shall be allocated on a first-in, first-out basis, and the Withdrawal Invoice shall be based on the Transfer Price applicable, on a volumetric basis, to each such Crude Oil Lot, or portion thereof. Vitol shall use its best estimate of the trading price for purposes of calculating the WTI Price component of the Transfer Price. In the event that two or more WTI Contracts apply to a Crude Oil Lot, the Provisional Transfer Price shall be computed using the WTI Contracts in sequential order beginning with the most prompt contract first. The Parties acknowledge that the Provisional Transfer Price will be trued-up in accordance with Section 9.4 to reflect the actual Transfer Price based on the actual components set forth in Section 9.1.
Invoice Calculations. The purchase price set forth in the Provisional Invoice (the “Provisional Transfer Price”) shall be equal to the Transfer Price for the specified Crude Oil Withdrawal multiplied by (***). Vitol, acting reasonably, shall use its best estimates for calculating the Transportation and Direct Costs applicable to such Crude Oil Withdrawal to the extent that such amounts are not yet ascertainable. Each Crude Oil Lot, or portion thereof, included in a Crude Oil Withdrawal shall be allocated on a first-in, first-out basis, and the Provisional Invoice shall be based on the Transfer Price applicable, on a volumetric basis, to each such Crude Oil Lot, or portion thereof. Vitol shall use its best estimate of the trading price for purposes of calculating the WTI Price component of the Transfer Price. In the event that two or more WTI Contracts apply to a Crude Oil Lot, the Provisional Transfer Price shall be computed using the WTI Contracts in sequential order beginning with the most prompt contract first. The Parties acknowledge that the Provisional Transfer Price will be trued-up in accordance with Section 12.3 to reflect the actual Transfer Price based on the actual components set forth in Section 12.1.
Invoice Calculations. The amount of the invoice for charges payable by the Operator to Queensland Rail under this agreement for a relevant month is calculated in accordance with the following formula: TC = AC × (1+ GST) + G where:
Invoice Calculations. The Transfer Price set forth in the Provisional Invoice (the “Provisional Transfer Price”) shall be based on the estimated volume and grade for each Crude Oil Withdrawal, while the Transfer Price set forth in the [***] Statement shall be based on the actual volume and grade for each Crude Oil Withdrawal. Each Crude Oil Lot, or portion thereof, included in a Crude Oil Withdrawal shall be allocated [***]. In the event that two or more WTI Contracts apply to a Crude Oil Lot, the Transfer Price shall be computed [***].
Invoice Calculations. The purchase price set forth in the Provisional Invoice (the “Provisional Transfer Price”) shall be equal to the Transfer Price for the specified Crude Oil Withdrawal plus a Crude Oil quality factor (the “Quality Factor”) equal to (***). For purposes of calculating the initial Quality Factor under the Agreement, and in lieu of and in substitution for such (***), the Parties agree that the amount of the Quality Factor shall initially be deemed to be equal to (***) and that such amount shall be posted by Coffeyville, at its election, in cash or in the form of a standby letter of credit in form and substance reasonably acceptable to Vitol. Either Party may request that the amount of the Quality Factor be recomputed at any time based on the best available information, provided that, (i) a Party may make such request no more frequently than once each week, and (ii) any adjustment to the Quality Factor shall be in increments of not less than $100,000 and shall be rounded up to the next nearest $100,000. Vitol, acting reasonably, shall use its best estimates for calculating the Transportation and Direct Costs applicable to such Crude Oil Withdrawal to the extent that such amounts are not yet ascertainable. Each Crude Oil Lot, or portion thereof, included in a Crude Oil Withdrawal shall be allocated on a first-in, first-out basis, and the Provisional Invoice shall be based on the Transfer Price applicable, on a volumetric basis, to each such Crude Oil Lot, or portion thereof. Vitol shall use its best estimate of the trading price for purposes of calculating the WTI Price component of the Transfer Price. In the event that two or more WTI Contracts apply to a Crude Oil Lot, the Provisional Transfer Price shall be computed using the WTI Contracts in sequential order beginning with the most prompt contract first. The Parties acknowledge that the Provisional Transfer Price will be trued-up (including any adjustment to the Quality Factor) in accordance with Section 9.3 to reflect the actual Transfer Price based on the actual components set forth in Section 9.1.