CONTRACT BILLING Clause Samples
The CONTRACT BILLING clause defines the procedures and terms for invoicing and payment between parties under the contract. It typically outlines how and when invoices should be submitted, the required supporting documentation, and the timeline for payment after receipt of an invoice. For example, it may specify monthly billing cycles or milestone-based payments, and detail acceptable payment methods. This clause ensures both parties have a clear understanding of financial obligations and timelines, reducing the risk of disputes over payments and promoting smooth financial transactions throughout the contract term.
CONTRACT BILLING. The payment office will make payment using the ACRN funding of the line item being billed. Contractor ▇▇▇▇▇▇▇▇ submitted for payment shall identify the specific accounting classifications cited in this contract. The Contractor shall submit ▇▇▇▇▇▇▇▇ by Line Item, Sub Line Item, and ACRN level as identified on the Financial Accounting Data Sheet(s) attached to this contract. Billings submitted to the paying offices that do not identify billing amounts by the ACRN level will be returned to the Contractor for proper identification.