Common use of PAYMENT MODALITY Clause in Contracts

PAYMENT MODALITY. A first payment (20% of total contract value) will be paid after signing the contract. - The second payment onward will be paid after deliverables outlined in section 5. The final payment will be made based on presentation of the deliverables outlined in section 5, including all reports, a short progress report and timesheet. All deliverables must be satisfactorily accepted by the MRCS Planning Division. - The Consultant will invoice for completed deliverables outlined in Section 5. Note: Consultancy rate is defined by the MRCS consultancy rate policy and the level of consultancy. MRC is a tax-exempted agency for the work done for the MRC. Consultant, in case mission is required, will be covered with a return ticket to and from the assigned duty stations with a daily related subsistence allowance of 75% of the UN for the mission days.