Compensation and Payment Schedule (Section 3) Clause Samples
The Compensation and Payment Schedule clause defines how and when payments will be made for services or deliverables under the agreement. It typically outlines the total compensation, the timing of payments (such as upon completion of milestones or on a recurring basis), and any conditions that must be met before payment is released. This clause ensures both parties have a clear understanding of financial obligations and timelines, reducing the risk of disputes over payment and helping to manage cash flow expectations.
Compensation and Payment Schedule (Section 3). All invoices for payment should be submitted to the University of Florida: By Mail: University of Florida Attn: Accounts Payable PO Box 3357 Scranton, PA 18505 Or by Fax: ▇-▇▇▇-▇▇▇-▇▇▇▇ Or by email: ▇▇▇.▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ All invoices will need to contain either a UF purchase order number or the 8-digit department ID number of the department with which you are doing business. Vendor/supplier Tax Identification number should be included on the invoice. These Standard Terms and Conditions (the “Terms”) are hereby attached to the Contract, together with any invoices, attachments, appendices, exhibits, specifications, drawings, notes, instructions and other information, whether physically attached or otherwise issued in connection therewith (collectively, the “Agreement”), constitutes the entire and exclusive agreement between The University of Florida Board of Trustees (“UF”) and the vendor identified in the Agreement (the “Vendor”). UF’s approval and acceptance of the Agreement is conditioned on Vendor‘s agreement that any terms different from or in addition to these Terms, whether communicated orally or contained in any confirmation, invoice, acknowledgement, release, acceptance or other written correspondence, irrespective of the timing, shall not form a part of the Agreement, even if Vendor purports to condition its acceptance of these Terms on UF’s agreement to such different or additional terms. Vendor’s electronic acceptance, receipt of payment, acknowledgement of these Terms, or commencement of performance constitutes Vendor’s acceptance of these Terms. If any discrepancy, difference or conflict exists between the various provisions of these Terms and the Agreement, these Terms shall control.
Compensation and Payment Schedule (Section 3). For acceptable performance of the work described herein, SUPPLIER shall be reimbursed for costs incurred not to exceed Fifteen Thousand Dollars ($15,000), in accordance with the attached Budget, for performance of the scope of work identified in Attachment 1. Additionally, SUPPLIER shall properly document and report on invoices their budgeted cost sharing in the amount of $40,000. Attachment 3 reports should be included with all invoices.