Invoices, Payment Schedule Clause Samples
The 'Invoices, Payment Schedule' clause defines how and when payments are to be made under a contract. It typically outlines the process for issuing invoices, the timing and frequency of payments (such as monthly or upon completion of milestones), and any requirements for supporting documentation. This clause ensures both parties have a clear understanding of payment expectations, reducing the risk of disputes over billing and helping to maintain consistent cash flow throughout the contractual relationship.
Invoices, Payment Schedule. Consultant shall submit to the Town invoices for payment on a monthly basis. Each invoice shall include an itemized statement showing dates of work, a description of each task performed, and the total sum for each task. The Town shall review each invoice and, within ten (10) days of receipt, either certify the same for payment or advise Consultant of any necessary revisions or additional documentation necessary to render such invoice for payment. The Town will pay each invoice within twenty (20) days after receipt by the Finance Department of an approved invoice.
Invoices, Payment Schedule