Common use of Disputed Invoice Clause in Contracts

Disputed Invoice. 13.5.1. If a Party does not dispute a Monthly Invoice or a Supplementary Invoice raised by the other Party within 15 (fifteen) Business Days of receiving it, such Invoice shall be taken as conclusive for payment of the Invoiced amount. 13.5.2. If a Party disputes the amount payable under a Monthly Invoice or a Supplementary Invoice, as the case may be, that Party shall, within 15 (fifteen) Business Days of receiving such Invoice, issue a notice ("Invoice Dispute Notice") to the invoicing Party setting out: (i) the details of the disputed amount; (ii) its estimate of what the correct amount should be; and (iii) all written material in support of its claim. 13.5.3. If the invoicing Party agrees to the claim raised in the Invoice Dispute Notice, the invoicing Party shall revise such Invoice within 10 (ten) Business Days of receiving such notice and make a refund to the disputing Party within 10 (ten) Business Days of receiving such notice. 13.5.4. If the invoicing Party does not agree to the claim raised in the Invoice Dispute Notice, it shall, within fifteen (15) Business Days of receiving the Invoice Dispute Notice, furnish a notice (“Invoice Disagreement Notice”) to the disputing Party providing: (i) reasons for its disagreement; (ii) its estimate of what the correct amount should be; and (iii) all written material in support of its counter-claim. 13.5.5. Upon receipt of the Invoice Disagreement Notice under Clause 13.5.4, authorised representative(s) of each Party shall meet and make best endeavors to amicably resolve the dispute within fifteen (15) Business Days of receipt of the Invoice Disagreement Notice. 13.5.6. If the Parties do not amicably resolve the dispute within fifteen (15) days of receipt of the Invoice Disagreement Notice, the matter shall be referred to the Dispute Resolution Procedure in accordance with Article 19. 13.5.7. If a dispute regarding a Monthly Invoice or a Supplementary Invoice is settled pursuant to Clause 13.5.5 or by Dispute Resolution mechanism provided in this Agreement in favour of the Party that issues an Invoice Dispute Notice, the other Party shall refund the amount, if any incorrectly charged and collected from the disputing Party within ten (10) Business Days of the dispute either being amicably resolved by the Parties pursuant to Clause 13.5.5 or settled by the Dispute Resolution Procedure along with interest at the rate of the Standard Interest per year . 13.5.8. For the avoidance of doubt, it is clarified that in the event of a Dispute regarding an Invoice, CEB or Seller shall be under an obligation to make payment of 100% of the undisputed amount of the Monthly Invoice on or before the Due Date.

Disputed Invoice. 13.5.1. If a Party does not dispute a Monthly Invoice or a Supplementary Invoice raised by the other Party within 15 (fifteen) Business Days of receiving it, such Invoice shall be taken as conclusive for payment of the Invoiced amount. 13.5.2. If a Party disputes the amount payable under a Monthly Invoice or a Supplementary Invoice, as the case may be, that Party shall, within 15 (fifteen) Business Days of receiving such Invoice, issue a notice ("Invoice Dispute Notice") to the invoicing Party setting out: (i) : the details of the disputed amount; (ii) ; its estimate of what the correct amount should be; and (iii) and all written material in support of its claim. 13.5.3. If the invoicing Party agrees to the claim raised in the Invoice Dispute Notice, the invoicing Party shall revise such Invoice within 10 (ten) Business Days of receiving such notice and make a refund to the disputing Party within 10 (ten) Business Days of receiving such notice. 13.5.4. If the invoicing Party does not agree to the claim raised in the Invoice Dispute Notice, it shall, within fifteen (15) Business Days of receiving the Invoice Dispute Notice, furnish a notice (“Invoice Disagreement Notice”) to the disputing Party providing: (i) : reasons for its disagreement; (ii) ; its estimate of what the correct amount should be; and (iii) and all written material in support of its counter-claim. 13.5.5. Upon receipt of the Invoice Disagreement Notice under Clause 13.5.4, authorised representative(s) of each Party shall meet and make best endeavors to amicably resolve the dispute within fifteen (15) Business Days of receipt of the Invoice Disagreement Notice. 13.5.6. If the Parties do not amicably resolve the dispute within fifteen (15) days of receipt of the Invoice Disagreement Notice, the matter shall be referred to the Dispute Resolution Procedure in accordance with Article 19. 13.5.7. If a dispute regarding a Monthly Invoice or a Supplementary Invoice is settled pursuant to Clause 13.5.5 or by Dispute Resolution mechanism provided in this Agreement in favour of the Party that issues an Invoice Dispute Notice, the other Party shall refund the amount, if any incorrectly charged and collected from the disputing Party within ten (10) Business Days of the dispute either being amicably resolved by the Parties pursuant to Clause 13.5.5 or settled by the Dispute Resolution Procedure along with interest at the rate of the Standard Interest per year . 13.5.8. For the avoidance of doubt, it is clarified that in the event of a Dispute regarding an Invoice, CEB or Seller shall be under an obligation to make payment of 100% of the undisputed amount of the Monthly Invoice on or before the Due Date. Annual Reconciliation Both Parties acknowledge that all payments made against Monthly Invoices, and Supplementary Invoices shall be subject to an annual reconciliation at the end of each Contract Year to take into account energy adjustment, tariff adjustment payments, Late Payment Surcharge, etc. The Parties, therefore, agree that as soon as all such data in respect of any Contract Year, as the case may be, has been finally verified and adjusted, Seller shall issue a reconciliation statement. The annual reconciliation shall also take into account excess payment, if any, made by CEB to Seller by way of paying applicable Tariff for procuring energy beyond the Standard Energy in a Contract Year. The Owed Party shall issue a Supplementary Invoice setting out the amount payable by the Owing Party under the reconciliation statement (“Annual Payment Adjustment”). The Owing Party shall pay the Annual Payment Adjustment to the Owed Party on or before the Due Date. Any Dispute with regard to the above reconciliation shall be dealt with in accordance with the provisions of Clause 13.5 and Article 19.