Adjustments & Adjustment Notes Clause Samples
The "Adjustments & Adjustment Notes" clause defines the process for modifying previously issued invoices or financial statements to reflect changes such as errors, omissions, or agreed-upon amendments. In practice, this clause allows either party to issue an adjustment note, which documents the reason for the change and the revised amounts, ensuring both parties have a clear record of the updated financial obligations. Its core function is to maintain accurate and transparent accounting between parties, preventing disputes and ensuring that all financial records reflect the true state of the transaction.
Adjustments & Adjustment Notes. To the extent that any Adjustment occurs in relation to a Taxable Supply, the Supplier must issue an Adjustment Note to the Recipient within 7 days of becoming aware of the Adjustment, and any payment necessary to give effect to such Adjustment must be made within 7 days after the date of receipt of the Adjustment Note.
Adjustments & Adjustment Notes. To the extent that any Adjustment occurs in relation to a Taxable Supply, the Supplier must issue an Adjustment Note to the Recipient within five Business Days of becoming aware of the Adjustment, and any payment necessary to give effect to such Adjustment must be made within five Business Days after the date of receipt of the Adjustment Note.