Contract Costs and Payment Sample Clauses
The 'Contract Costs and Payment' clause defines how and when payments will be made for goods or services provided under the contract. It typically outlines the types of costs that are reimbursable, the schedule or milestones for payment, and any documentation required to support payment requests, such as invoices or receipts. 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 throughout the contract term.
Contract Costs and Payment. In consideration of performance of work described in Paragraph 1 of this Agreement, BYU shall receive from the Sponsor the total sum of [dollar amount of compensation] to be applied pursuant to the estimated budget in the proposal. Payment shall be according to the following schedule: 50% upon execution of this Agreement 25% project midpoint, [date] 25% at project End Date, net 30 days c/o ▇▇▇▇▇ ▇▇▇▇▇▇▇, Grants & Contracts Accounting Manager A-261 ASB ▇▇▇▇▇▇▇ Young University Provo, UT 84602 BYU's tax identification number is ▇▇-▇▇▇▇▇▇▇ If, for the purposes of collecting the amount due, BYU should retain an attorney or collection agency, Sponsor will pay all costs of collection including reasonable interest, reasonable attorney’s fees, and reasonable collection agency fees which may be based on a percentage at a maximum of 40% of the debt. Sponsor also agrees that BYU, or its agent, may contact Sponsor via automated telephone dialing equipment and/or leave an automated and/or pre-recorded voice or text message.
Contract Costs and Payment. In consideration of performance of work described in Paragraph 1 of this Agreement, BYU shall receive from the Sponsor the total sum of [dollar amount of compensation] to be applied pursuant to the estimated budget in the proposal. Payment shall be according to the following schedule (▇▇▇▇ one):
Contract Costs and Payment. University agrees to pay [SHORT COMPANY NAME] the sum of $(insert additional amount) USD to cover additional costs of the contract for a total contract cost of $(insert total) USD. All other terms and conditions of the Agreement remain the same.
Contract Costs and Payment. In consideration of performance of work described in Paragraph 1 of this Agreement, BYU shall receive from the Sponsor the total sum of $ to be applied pursuant to the estimated budget in the proposal, Appendix I. Payments shall be made according to the following schedule:
(a) Payment in the amount of $ upon execution of this Agreement. Thereafter, payment shall be made according to the following schedule: $ on or before Any installment payment payable to ▇▇▇▇▇▇▇ ▇▇▇▇▇ University shall be sent to Research Account Manager, C-273 ASB, ▇▇▇▇▇▇▇ Young University, Provo, UT 84602. BYU's tax identification number is ▇▇-▇▇▇▇▇▇▇ (or 87-73-0049-F).