INVOICING AND PAYMENT PROCEDURE Clause Samples
The Invoicing and Payment Procedure clause outlines the process by which invoices are issued and payments are made between parties under an agreement. It typically specifies the timing and format for submitting invoices, the required supporting documentation, and the timeframe within which payments must be completed after receipt of an invoice. For example, it may require monthly invoices to be submitted electronically and payments to be made within 30 days of receipt. This clause ensures both parties have a clear understanding of their financial obligations and helps prevent disputes over billing and payment timing.
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INVOICING AND PAYMENT PROCEDURE. 12.1 In accordance with 2 CFR § 200.305(b)(3), the Subrecipient will be paid on a reimbursement basis. As such, the Subrecipient must submit monthly invoices of allowable expenditures (using a form provided by OPEH) to the BILL TO address shown on the Purchase Order. The County must receive the monthly invoice within thirty (30) calendar days following the month in which the Subrecipient provided the services. The invoice shall contain the applicable Purchase Order number and the name of the department receiving the services. The itemized monthly invoice (or as agreed to between the parties) must include the information listed below:
A. Subrecipient Name;
B. Federal Award Identification Number (▇▇▇▇);
C. Dates of services;
D. Type of services including direct assistance provided through Homelessness Prevention and Rapid Rehousing;
E. The itemized cost for each item and service reflective of actual hours worked;
F. Comparison of cumulative expenditures with budget amounts;
G. The County’s Purchase Order number; and
H. A certification to assure the expenditures are proper and in accordance with the terms and conditions of the Subaward and approved project budgets, signed by an official who is authorized to legally bind the Subrecipient, and which reads as follows:
INVOICING AND PAYMENT PROCEDURE. 6.1 The Parties hereby agree on the following invoicing procedure during the course of the Service Rendering under this MSA:
6.1.1 The invoices for the Services (excluding Warehouse) rendered within the framework of the Clinical Trial will be invoiced at the fulfillment of the milestones as set forth below:
a) Within 30 calendar days from the effective date of this MSA, Adherex agrees to make an advance payment to OCT in the amount of 10% of the Total Service cost.
b) 5% of the cost of the Services - upon all sites evaluated and approved by Adherex.
c) 10% of the cost of the Services – after obtaining of regulatory approval d) 10% of the cost of the Services – 25% patients enrolled e) 5% of the cost of the Services - 50% patients enrolled f) 5% of the cost of the Services – 75% patients enrolled
INVOICING AND PAYMENT PROCEDURE. DocuSign Envelope ID: 46B600AE-7A46-4F6E-A2DB-58DA42098A9C
12.1 In accordance with 45 CFR §75.305, the Subrecipient shall be paid on a reimbursement basis. As such, the Subrecipient must submit monthly invoices of allowable expenditures to the BILL TO address shown on the Purchase Order (If applicable). The County must receive the monthly invoice within fifteen (15) calendar days following the month in which the Subrecipient provided the services. The invoice shall contain the applicable Purchase Order number and the name of the department receiving the services. The itemized monthly invoice (or as agreed to between the parties) must include the information listed below:
A. Subrecipient Name;
B. Federal Award Identification Number (▇▇▇▇);
C. Dates of services;
D. Type of services;
E. The itemized cost for each item/service reflective of actual hours worked;
F. Comparison of cumulative expenditures with budget amounts;
G. The County’s Purchase Order number; and
H. A certification to assure the expenditures are proper and in accordance with the terms and conditions of the Subaward and approved project budgets, signed by an official who is authorized to legally bind the Subrecipient, and which reads as follows:
12.2 NCS/OFC, at its discretion, may make payment in the form of a three month advance to the Subrecipient based on the annual amount of federal and local funding. Advance payments are recuperated as a reduction to the Subrecipient’s reimbursement request in the last four months of the program year.
12.3 A final statement of cumulative costs incurred, including applicable cost sharing, matching, or program income, marked “FINAL” must be submitted to the County, thirty (30) calendar days after the end of the Period of Agreement. The final statement of costs shall constitute the Subrecipient’s final financial report and must include the certification as specified in Article 12.1.
INVOICING AND PAYMENT PROCEDURE. 12.1 The City will be paid on a reimbursement basis in accordance with 2 CFR § 200.305(b)(3). As such, the City must submit monthly invoices of allowable expenditures to the BILL TO address shown on the Purchase Order. The County must receive the monthly invoices within thirty (30) calendar days following the month in which the Subrecipient provided the services. The invoice shall contain the applicable Purchase Order number and the name of the department receiving the services. The invoice must include the information listed below.
A. Subrecipient Name;
B. Federal Award Identification Number (▇▇▇▇);
C. Dates of services;
D. Type of services;
E. Comparison of cumulative expenditures with budget amounts;
F. The County’s Purchase Order number; and
G. A certification to assure the expenditures are proper and in accordance with the terms and conditions of the Subaward and approved project budgets, signed by an official who is authorized to legally bind the Subrecipient, and which reads as follows:
INVOICING AND PAYMENT PROCEDURE. 12.1 In accordance with 2 CFR § 200.305(b)(3), the Subrecipient will be paid on a reimbursement basis. As such, the Subrecipient must submit quarterly invoices of allowable expenditures to the BILL TO address shown on the Purchase Order. The County must receive the quarterly invoice within thirty (30) calendar days following the last month of the quarter in which the Subrecipient provided the services. The invoice shall contain the applicable Purchase Order number and the name of the department receiving the services. The itemized invoice (or as agreed to between the parties) must include the information listed below:
A. Subrecipient Name;
B. Federal Award Identification Number (▇▇▇▇);
C. Dates of services;
D. Type of services;
E. The itemized cost for each item and service;
F. Comparison of cumulative expenditures with budget amounts;
G. The County’s Purchase Order number; and
H. A certification to assure the expenditures are proper and in accordance with the terms and conditions of the Subaward and approved project budgets, signed by an official who is authorized to legally bind the Subrecipient, and which reads as follows:
INVOICING AND PAYMENT PROCEDURE. 5.1 The City agrees to compensate Contractor for the Services performed and System provided in accordance with the terms and conditions of this Agreement.
5.2 Compensation and payments shall be made to Contractor by City based on Net Thirty (30) days payment terms.
5.3 City will make payments when due in the form of a check, cashier’s check, or wire transfer drawn on a U.S. financial institution.
INVOICING AND PAYMENT PROCEDURE. STRATASYS shall invoice HP concurrently with its delivery of the Products order by HP or Eligible Purchasers. HP shall, pay for the Products delivered to it by STRATASYS in accordance with such invoice within *** from the date of STRATASYS’s Delivery Date of the relevant Products. Any such payment by HP shall be made by wire transfer to the bank account set forth in each relevant invoice issued by STRATASYS. Invoices issued by STRATASYS shall reference the relevant Order number, and indicate, any applicable tax (if any), quantities Products shipped by STRATASYS and date of shipment.
INVOICING AND PAYMENT PROCEDURE. The manufacturing Party shall invoice the purchasing Party concurrently with its delivery of the Celution/Puregraft Products or Standalone Fat Transplantation Products ordered. The purchasing Party shall pay for the Celution/Puregraft Products or Standalone Fat Transplantation Products delivered in accordance with each Purchase Order within a maximum of forty-five (45) calendar days from the date that purchasing Party receives the corresponding invoice issued by the manufacturing Party. Invoices issued by manufacturing Party shall reference the relevant Order number, and indicate (a) applicable tax (if any), (b) quantities of products shipped, and (c) date of shipment of the products.
INVOICING AND PAYMENT PROCEDURE. NewCo shall invoice Cytori concurrently with its delivery of the Licensed Product(s) ordered by Cytori. Cytori shall pay for the Licensed Product(s) delivered in accordance with each Order within a maximum of forty-five (45) calendar days (with the final term of payment to be agreed later) from the date that Cytori receives the corresponding invoice issued by NewCo. Invoices issued by NewCo shall reference the relevant Order number, and indicate (a) applicable tax (if any), (b) quantities of Licensed Product(s) shipped by NewCo, and (c) date of shipment of the Licensed Product(s) to Cytori or its designee.
INVOICING AND PAYMENT PROCEDURE. 10.4.1 Invoices for all payments due under this Agreement shall be submitted by the Seller to ZESCO by the seventh (7th) day (or, if such day is not a Business Day, the immediately following Business Day) of each Month following that in respect of which they are payable.
10.4.2 Each invoice shall be due and payable on or before the thirtieth (30th) day after the invoice is received (or, if such day is not a Business Day, the immediately following Business Day) (the “Due Date”).
10.4.3 Any amount properly due from one Party to the other Party pursuant to this Agreement and remaining unpaid after the due date shall bear interest from the date when payment was due, such interest to accrue daily and be compounded Monthly at a rate equal to the Agreed Interest Rate from the date when payment was due until the amount due is actually received by the payee. Any overpayments by either Party resulting from an invoicing error or an error in payment shall be refunded by the other Party, together with interest at the Agreed Interest Rate and thereafter a new invoice shall be issued.
10.4.4 Should ZESCO dispute an invoice it shall notify the Seller within five (5) Business Days of receipt of such an invoice. It shall nonetheless pay all amounts not in dispute by the applicable Due Date.
10.4.5 In case of a manifest error on an invoice, ZESCO immediately notify the Seller, and the Seller shall issue a corrected invoice.
10.4.6 Should an invoice be in error as a result of a metering or reconciliation error, as detailed in SCHEDULE E (Metering), the payments shall be recalculated as soon as practicable following the correction of the metering error and any over-payment or under-payment corrected in the invoice for the Month following the receipt of the correct metered data.
10.4.7 The Seller shall notify ZESCO of its Zambian bank account details for payment by ZESCO to the Seller.
10.4.8 ZESCO shall notify the Seller of its bank account details for payment by the Seller to ZESCO.
10.4.9 No Party shall be entitled to offset any amounts payable to the other Party under or in relation to this Agreement