Financial Terms and Conditions Clause Samples
The "Financial Terms and Conditions" clause defines the rules and requirements governing all monetary aspects of an agreement, such as payment amounts, schedules, invoicing procedures, and acceptable methods of payment. It typically outlines when payments are due, any applicable late fees or interest, and the responsibilities of each party regarding financial transactions. By clearly specifying these terms, the clause helps prevent misunderstandings and disputes over payments, ensuring both parties understand their financial obligations and reducing the risk of non-payment or delayed payments.
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Financial Terms and Conditions. 1. Bidders are requested to note that they should necessarily submit their financial bids in the format provided and no other format is acceptable. If the price bid has been given as a standard BoQ format with the tender document, then the same is to be downloaded and to be filled by all the bidders. Bidders are required to download the BoQ file, open it and complete the white coloured (unprotected) cells with their respective financial quotes and other details (such as name of the bidder). No other cells should be changed. Once the details have been completed, the bidder should save it and submit it online, without changing the filename. If the BoQ file is found to be modified by the bidder, the bid will be rejected.
2. Rates quoted should be inclusive of all applicable taxes, packing, forwarding, postage and transportation charges at for AIIMS Rishikesh (Site of installation/Use). Rates should be mentioned both in figures and in words.
3. The supplier has to submit a notarised affidavit on Indian Non Judicial Stamp Paper of Rs.10/- that the bidder has not quoted the price higher than previously supplied to any government Institute/Organisation/reputed Private Organisation or DGS&D rate in recent past. Therefore, if at any stage it is found that the supplier has quoted lower rates than those quoted in this tender; the Institute (the purchaser) would be given the benefit of lower rates by the Supplier and any excess payment if any, will become immediately payable to the AIIMS, Rishikesh. If such affidavit is not submitted, tender will be summarily rejected. (Part of technical bid)
Financial Terms and Conditions. The applicable License Fees and payment terms are as set out in the Order Form and in a separate agreement between Customer and the Reseller. Cosmian is not responsible for the acts or omissions of the Reseller, or for any other products or services that the Reseller supplies to Customer.
Financial Terms and Conditions. 4.1. The prices of items to be procured will be billed at their total cost to the USG. Unless otherwise specified, the cost of items to be procured, availability determination, payment schedule, and delivery projections quoted are estimates based on the best available data. The USG will use its best efforts to advise the Purchaser or its authorized representatives of:
4.1.1. Identifiable cost increases that might result in an overall increase in the estimated costs in excess of ten percent of the total value of this LOA,
4.1.2. Changes in the payment schedule, and
4.1.3. Delays which might significantly affect estimated delivery dates. USG failure to advise of the above will not change the Purchaser's obligation under all subsections of section 4.4.
4.2. The USG will refund any payments received for this LOA which prove to be in excess of the final total cost of delivery and performance and which are not required to cover arrearages on other LOAs of the Purchaser.
4.3. The Purchaser’s failure to make timely payments in the amounts due may result in delays in contract performance by DoD contractors, claims by contractors for increased costs, claims by contractors for termination liability for breach of contract, claims by USG or DoD contractors for storage costs, or termination of contracts by the USG under this or other open Letters of Offer and Acceptance of the Purchaser at the Purchaser's expense.
4.4. The Purchaser agrees to the following:
4.4.1. To pay to the USG the total cost to the USG of the items even if costs exceed the amounts estimated in this LOA.
4.4.2. To make payment(s) by check or wire transfer payable in U.S. dollars to the Treasurer of the United States.
4.4.3. If Terms of Sale specify "Cash with acceptance", to forward with this LOA a check or wire transfer in the full amount shown as the estimated Total cost, and agrees to make additional payment(s) upon notification of cost increase(s) and request(s) for funds to cover such increase(s).
4.4.4. If Terms of Sale specify payment to be "Cash prior to delivery", to pay to the USG such amounts at such times as may be specified by the USG (including initial deposit) in order to meet payment requirements for items to be furnished from the resources of DoD. USG requests for funds may be based on estimated costs to cover forecasted deliveries of items. Payments are required 90 days in advance of the time DoD plans such deliveries or incurs such expenses on behalf of the Purchaser.
4.4.5. If Te...
Financial Terms and Conditions. 3.1. In consideration of the rights and licenses granted under this Agreement, CARING will pay the following compensation to NOVODX:
Financial Terms and Conditions. The prices as well as the terms, methods and currency of payment are set forth in the Order Form. By default, invoicing currency will be as applicable in the Supplier's country and the payment term is 30 days from the date of the invoice, by wire transfer. Billing starts on the Start Date set out in the Order Form. Prices do not include applicable taxes. Prices are automatically revised and amended each year, including in the event of a Contract renewal, according to the following provisions unless otherwise agreed by the Parties. In order to comply with tax and accounting rules, the Client shall issue, if necessary for its purchasing procedure, a new Order Form not signed by the Parties one calendar month before each anniversary date of the License Start Date as indicated in the initial Order Form signed by the Parties. The Supplier shall send invoices to the Client's address indicated in the initial Order Form signed by the Parties. In the event of a change of invoicing address, the Client shall notify the Supplier in writing at least one calendar month before the anniversary date of the invoicing.
Financial Terms and Conditions. 2 5.1 GENERAL FISCAL ASSURANCES
Financial Terms and Conditions. Interest period shall be three months, calculated as from the drawing date. BACOU USA shall due and pay interest to BNP on the last banking day of each such periods of three months.
Financial Terms and Conditions. 3.1 See Appendix B for all financial terms and conditions related to the Agreement.
Financial Terms and Conditions. Conflicting Provisions
Financial Terms and Conditions.
2 5.1 GENERAL FISCAL ASSURANCES 3 Provider shall comply with all applicable laws and standards, including Generally Accepted 4 Accounting Principles and maintain, at a minimum, a financial management system that is a 5 viable, single, integrated system with sufficient sophistication and capability to effectively and 6 efficiently process, track and manage all fiscal matters and transactions. The parties’ 7 respective fiscal obligations and rights set forth in this section shall continue after termination 8 of this Contract until such time as the financial matters between the parties resulting from this 9 Contract are completed. 10
11 5.2 FINANCIAL ACCOUNTING REQUIREMENTS 12 Provider shall:
14 5.2.1 Limit Administration costs to no more than 10% of the annual revenue supporting the 15 public behavioral health system operated by Provider. Administration costs shall be 16 measured on a fiscal year basis and based on the information reported in the Revenue 17 and Expenditure Reports and reviewed by North Sound BH-ASO.
18 5.2.2 The Provider shall establish and maintain a system of accounting and internal controls 19 which complies with generally accepted accounting principles promulgated by the 20 Financial Accounting Standards Board (FASB), the Governmental Accounting Standards 21 Board (GASB), or both as is applicable to the Provider’s form of incorporation.
22 5.2.3 Ensure all North Sound BH-ASO funds, including interest earned, provided pursuant to 23 this Contract, are used to support the public behavioral health system within the 24 Service Area;
25 5.2.4 Produce annual, audited financial statements upon completion and make such reports 26 available to North Sound BH-ASO upon request.