FINAL PAYMENT UPON TERMINATION Clause Samples
The "Final Payment Upon Termination" clause defines the process and obligations for settling outstanding payments when a contract is ended before its natural completion. Typically, this clause outlines how the terminating party must pay for work completed up to the termination date, including any approved expenses or deliverables provided. Its core function is to ensure that parties are fairly compensated for services rendered prior to termination, thereby reducing disputes and providing financial clarity in the event of early contract closure.
FINAL PAYMENT UPON TERMINATION. In the event of termination of the Agreement, final settlement of, and final payment under, the Agreement shall be determined as follows:
FINAL PAYMENT UPON TERMINATION. In the event of termination, Contractor, within 14 days following the date of termination, shall submit to County an invoice showing the services performed, hours worked, and copies of receipts for reimbursable expenses up to the date of termination.