Payment and Acceptance Clause Samples
The Payment and Acceptance clause defines the terms under which payments are made and accepted between parties in a contract. It typically outlines when payments are due, the methods of payment, and the process for confirming receipt of goods or services. For example, it may specify that payment is due within 30 days of invoice receipt and that acceptance of goods occurs after inspection. This clause ensures both parties have a clear understanding of their financial obligations and the conditions for fulfilling them, thereby reducing disputes over payment timing and acceptance criteria.
Payment and Acceptance. Any payment issued before Final Acceptance does not constitute as evidence of Corporation’s acceptance of any work performed or act as a waiver of Corporation’s rights to make future claims for improper or incorrect invoiced amounts from Contractor.
Payment and Acceptance. No payment, final or otherwise, nor partial or entire use, occupancy, or acceptances of the Work by the City shall be an acceptance of any work or material not in accordance with the Contract, nor shall the same relieve the Contractor of any responsibility for any faulty material or workmanship or operate to release the Contractor or its surety from any obligation under the Contract or the Performance Bond or the Labor and Material Payment Bond.
Payment and Acceptance. User Agency agrees to pay Supplier for all undisputed amounts within thirty (30) days of receipt of invoice, provided that the Equipment and Services have been accepted by User Agency as hereinafter provided. Supplier shall deliver the Equipment and/or perform any Services in accordance with the schedule set forth in the RFP or the time specified in a Purchase Order (“P.O.”) issued by User Agency (whichever is later). Unless otherwise agreed to by Supplier and User Agency, Supplier shall provide written notification of completion of the delivery, or other performance of Services, to User Agency (“Delivery Notice”). User Agency shall have thirty (30) days from the date of receipt of the Delivery Notice to provide Supplier with written notification of acceptance or rejection due to unsatisfactory performance (“Acceptance Period”), and in the event of acceptance by User Agency, the obligation to pay shall be effective on the first (1st) day of the Acceptance Period. The failure of the User Agency to issue an acceptance or rejection notice on or before the end of the Acceptance Period shall be deemed an acceptance of the Equipment or Services. In the event User Agency issues a rejection notice, Supplier shall, as quickly as is practicable, correct at its expense all deficiencies caused by Supplier. User Agency shall not unreasonably withhold or delay such acceptance or rejection.
Payment and Acceptance. Company shall pay Jabil all amounts when due, including all Non-Recurring Engineering Costs (“NRE Costs”), that Jabil may incur in the performance of the Manufacturing Services. Company shall pay Jabil all invoiced amounts within [***] from the date of Jabil’s invoice therefor. Payment to Jabil shall be in U.S. dollars and in immediately available funds. In the event any amounts are invoiced or paid in a different currency, the process in Schedule 3 “Currency Policy” will apply. In the event of cancellation, expiration or termination of this Letter Agreement for any reason, Company shall remain liable for all fees, costs of material and expenses incurred by Jabil as set forth herein up to and including the date of such cancellation, expiration or termination. Company will be deemed to have accepted any Product (as defined in Section 4 below) prepared as part of the Manufacturing Services unless, within ten (10) days following Jabil’s delivery of such Product, Company provides a detailed written notice, as referenced in Section 15 herein, setting forth the manner in which such Product materially fails to comply with the SOW. *** Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.
Payment and Acceptance. User Agency agrees to pay Contractor in arrears for all undisputed amounts within thirty (30) days of receipt of an undisputed invoice, provided that the Equipment and
Payment and Acceptance. In payment for the Intellectual Property and ---------------------- Transferred Property and assumption of the liabilities in Exhibits 1, 2, 3 and -------------------- 4, the Company hereby agrees to issue to Assignor 7,000,000 shares of its Series - A Preferred Stock, 500,000 shares of its Common Stock upon the execution of this Agreement, and a promissory note in the principal amount of $1,225,000, in substantially the form attached hereto as Exhibit B. ---------
Payment and Acceptance. State Entity agrees to pay Contractor in arrears for all undisputed amounts within thirty (30) days of receipt of an undisputed invoice, provided that the Equipment and Services have been accepted by the State Entity as hereinafter provided. Contractor shall not invoice State Entity in advance of Contractor’s deliverance/performance of the items and/or services that are the subject of the invoice. Contractor shall deliver the Equipment and/or perform any Services in accordance with the schedule set forth in the Statewide Contract or the time specified in Attachment 1 (whichever is later). Unless otherwise agreed to by Contractor and the State Entity, Contractor shall provide written notification of completion of the delivery, or other performance of Services, to the State Entity (“Delivery Notice”). State Entity shall have thirty (30) days from the date of receipt of the Delivery Notice to provide Contractor with written notification of acceptance or rejection due to unsatisfactory performance (“Acceptance Period”), and in the event of acceptance by the State Entity, the obligation to pay shall be effective on the first (1st) day of the Acceptance Period. The failure of the State Entity to issue an acceptance or rejection notice on or before the end of the Acceptance Period shall be deemed an acceptance of the Equipment or Services. In the event State Entity issues a rejection notice, Supplier shall, as quickly as is practicable, correct at its expense all deficiencies caused by Contractor. State Entity shall not unreasonably withhold or delay such acceptance or rejection.
Payment and Acceptance. The COUNTY shall compensate the CONSULTANT for the basic services described in Section 1 of this contract by making payment to the CONSULTANT based on the following fee schedule: These fees and payments shall constitute complete compensation in full for the CONSULTANT'S labor, salaries, travel, lodging, equipment, materials, and subcontract costs necessary to complete the work specified for basic services. It is expressly understood and agreed that in no event will the total compensation to be paid for the basic services described in Article 1 of this contract exceed $ , unless authorized changes are approved by the COUNTY in writing. The COUNTY will pay invoices of the CONSULTANT on a monthly basis. Payment will be made within 45 days of invoice date. COUNTY may retain 5% of each invoice until completion and acceptance of the project. The final payment, without regard to the provision of guarantee as provided under the terms of this contract, will be made to the CONSULTANT within thirty (30) days upon satisfactory completion of the described work, and upon submission of a final statement by the CONSULTANT and approval of the work by the COUNTY. Such payment shall be conditioned, however, upon the CONSULTANT furnishing to the COUNTY, with his request for payment, evidence satisfactory to the COUNTY that all claims growing out of lawful demands of Subcontractors, laborers, workmen, mechanics, and supplies have been paid in full. The CONSULTANT shall further indemnify and hold the COUNTY harmless for any such claims.
Payment and Acceptance. Redback shall pay Jabil all amounts when due, including all Non-Recurring Engineering Costs ("NRE Costs"), that Jabil may incur in the performance of the Manufacturing Services. Redback shall pay Jabil all undisputed invoiced amounts within thirty (30) days from the date of Jabil's invoice therefor. Redback may only dispute an invoice provided that Redback notifies Jabil in writing, within three (3) business days after the date of receipt, that the invoice contains a material error that impedes payment thereof. Such notification shall identify the alleged error in the invoice, a justification for considering this error material, together with any supporting documentation. Redback will remain liable and will issue payment without delay in accordance to this Section for any undisputed portions or amounts in the invoice. In the event of cancellation, expiration or termination of this Letter Agreement for any reason, Redback shall remain liable for all fees, costs of material and expenses incurred by Jabil as set forth herein up to and including the date of such cancellation, expiration or termination. Redback will be deemed to have accepted any Product (as defined in Section 4 below) prepared as part of the Manufacturing Services unless, within ten (10) days following Jabil's delivery of such Product, Redback provides a detailed written notice, as referenced in Section 15 herein, setting forth the manner in which such Product - fails to comply with the SOW.
Payment and Acceptance