Invoicing and Settlement Clause Samples

Invoicing and Settlement a) Subject to the specific terms of the Agreement and the SLA, the Managed Service Provider shall submit its invoices in accordance with the following principles: (i) The Purchaser shall be invoiced by the Managed Service Provider for the Services. Generally and unless otherwise agreed in writing between the Parties or expressly set out in the SLA, the Managed Service Provider shall raise an invoice as per this Agreement; and (ii) Any invoice presented in accordance with this Clause shall be in a form agreed with the Purchaser. b) The Managed Service Provider alone shall invoice all payments after receiving due approval of completion of payment milestone from the competent authority. Such invoices shall be accurate with all adjustments or changes in the terms of payment. The Managed Service Provider shall waive any charge for a Service that is not invoiced within six months after the end of the month in which the change relating to such Service is (i) authorized or (ii) incurred, whichever is later. c) Payment shall be made within <30 working days> of the receipt of invoice along with supporting documents by the Purchaser subject to deduction of applicable liquidated damages or SLA penalties. The penalties are imposed on the Managed Service Provider as per the SLA criteria specified in the SLA. d) The Purchaser shall be entitled to delay or withhold payment of any invoice or part of it delivered by the Managed Service Provider where the Purchaser disputes/withholds such invoice or part of it provided that such dispute is bona fide. The withheld amount shall be limited to that which is in dispute. The disputed / withheld amount shall be settled in accordance with the escalation procedure as set out in this Agreement. Any exercise by the Purchaser under this Clause shall not entitle the Managed Service Provider to delay or withhold provision of the Services. e) The Managed Service Provider shall be solely responsible to make payment to its sub-contractors, if they are expressly approved by the Purchaser to work with the Managed Service Provider.

Invoicing and Settlement. (a) Unless any Schedule hereto indicates otherwise or the parties agree in writing to a different arrangement, Provider shall invoice or notify in writing the Recipient on a monthly basis (not later than 30 days after the end of each month) for the charges for Services hereunder for the prior month (the date of delivery of such invoice, the “Invoice Date”). (b) Recipient agrees to pay on or before the date (each, a “Payment Date”) that is 30 days after the Invoice Date by wire transfer of immediately available funds payable to the order of Provider to such account(s) designated by Provider all amounts invoiced by Provider pursuant to Section 3.03(a), except for any portion of those amounts reasonably disputed in good faith. Payment for amounts reasonably disputed in good faith for any Services may be withheld beyond their due date by Recipient until such dispute is resolved pursuant to Section 4.04, in which event the relevant payment shall include interest at the Interest Rate from the date that is 15 days after the original relevant Payment Date to the actual payment date. In the event of any overpayments by Recipient, Provider agrees to promptly refund any such overpaid amount to Recipient no later than 15 days from the date it is determined that there has been an overpayment.

Invoicing and Settlement. 4.1 Subject to clause 5.2, the Customer must pay the whole amount of the Charges shown on each Statement: (a) directly by electronic transfer to the bank account nominated in writing by REACH or such other means as REACH may expressly approve; (b) within 30 days of the date of the Statement or, in respect of a particular Service, by the date specified in relevant Service Terms ; and (c) in the currency specified in the Customer Order or as notified by REACH from time to time. 4.2 The Customer must pay interest on any overdue amount, calculated daily at the Interest Rate, from the date payment is due until payment in full is made. 4.3 REACH may include Charges omitted from an earlier Statement in a subsequent Statement. 4.4 If requested by the Customer, REACH shall arrange for the Charges for a Service to be included in statements issued by an Affiliate of REACH (in which case the Affiliate acts as REACH's billing agent), subject to: (a) the Customer continuing to obtain services from that Affiliate; and (b) the agreement of the relevant Affiliate. 4.5 REACH may, at its sole discretion, deduct from any money owed by REACH to the Customer any amount: (a) owed by the Customer to REACH or to a REACH Affiliate, in which case REACH indemnifies the Customer against any further claim by the REACH Affiliate in respect of the amount deducted; or (b) owed by a Customer Affiliate to REACH or a REACH Affiliate, in which case REACH shall release or cause the REACH Affiliate to release the Customer Affiliate from the debt for the deducted amount. 4.6 REACH may, at its sole discretion, deduct from any money owed by REACH to a Customer Affiliate any amount owed by the Customer: (a) to REACH, in which case the Customer indemnifies REACH against any further claim by the Customer Affiliate in respect of the deducted amount; or (b) to a REACH Affiliate, in which case the Customer indemnifies REACH against any further claim by the Customer Affiliate in respect of the deducted amount and REACH indemnifies the Customer against any further claim by the REACH Affiliate in respect of the deducted amount. 4.7 REACH may, at its sole discretion, apply in satisfaction of any money owed by a REACH Affiliate to the Customer any amount owed by the Customer to REACH, in which case REACH indemnifies the Customer against any further claim by the REACH Affiliate in respect of the applied amount.

Invoicing and Settlement. The provisions of the Invoicing Schedule shall apply.

Invoicing and Settlement. (a) Unless any Schedule hereto indicates otherwise or the parties agree in writing to a different arrangement, Provider shall invoice or notify in writing the Recipient on a monthly basis for the charges for Services hereunder for the prior month (the date of delivery of such invoice, the “Invoice Date”). (b) Recipient agrees to pay on or before the date (each, a “Payment Date”) that is 30 days after the Invoice Date by wire transfer of immediately available funds payable to the order of Provider to such account(s) designated by Provider all amounts invoiced by Provider pursuant to Section 3.03(a). If Recipient disputes any invoice or other request for payment, then Recipient may withhold the disputed amount and will notify Provider in writing within seven days of the receipt of the invoice or request for payment and the dispute will be resolved in accordance with Section 4.04. Where only part of an invoice is disputed, Recipient will pay the undisputed amount on the due date. If it is determined that Provider is entitled to all or any portion of the disputed amount, Recipient will pay Provider the applicable amount within 10 days of such determination and such payment shall include interest at the Interest Rate from the original relevant Payment Date to the actual payment date.

Invoicing and Settlement. Unless any Exhibit hereto indicates otherwise or the parties agree in writing to a different arrangement, Chemtura shall, by the fifteenth date of each calendar month during the Term, send to Purchaser an invoice listing the charges for Services hereunder for the following month (the date of delivery of such invoice, the “Invoice Date”). The invoice shall specify in reasonable detail the basis for the charges. All invoices shall be sent to Purchaser’s address set forth in Section 11.05(b). In the event that any Service is terminated, or the applicable Service Term expires, during a calendar month pursuant to Section 6.02, Purchaser shall pay only a pro-rated portion of the relevant charges for the period in such calendar month during which the Services are to be provided. In the event that any increase or decrease in any Service Cost was not reflected in the applicable invoice for the month in which such increase or decrease takes effect, an appropriate adjustment shall be made in the subsequent invoice.

Invoicing and Settlement. 2.4.1 Except as otherwise provided in the Schedules, each Provider shall invoice the Company on a monthly basis, in arrears, for the previous month’s Services. 2.4.2 The Company agrees to pay amounts due within forty five (45) days after the date of invoice. 2.4.3 Notwithstanding the foregoing, if the Company disputes in good faith and in writing, within thirty (30) days of receipt of a Provider’s invoice, the amount reflected on such invoice, it may withhold payment of such disputed amount (the Company shall pay the undisputed portion (if any) of such invoice as provided in Section 2.4.2). In the event of such a dispute, representatives of the Company and the applicable Provider shall promptly meet and use reasonable efforts to resolve the dispute, and the Company shall pay the agreed amounts owed to the applicable Provider within five (5) days of resolution of any such dispute. In the event that representatives of the Company and the applicable Provider are unable to resolve the dispute, either the Company or the applicable Provider may then submit the dispute to binding arbitration under the auspices of the International Centre for Dispute Resolution (the “ICDR”) in accordance with its International Arbitration Rules by a panel of three arbitrators, one chosen by the Company, one chosen by the applicable Provider and one (who shall be the chairman of the panel) chosen by the other two arbitrators. Such arbitrators shall not be limited to persons on the rosters maintained by the ICDR but rather may include all persons of demonstrated expertise in international financial services matters.

Invoicing and Settlement. 1. Each Location will specify the Invoicing Method and Payment Options that will apply, taking into account the operational capabilities of Supplier and the UC and/or Participating Agency Location. For UC campuses/locations, please see UC’s Procure to Pay Standards for the options that will be considered ▇▇▇▇▇://▇▇▇.▇▇▇▇.▇▇▇/procurement-services/_files/Matrix%20for%20website.pdf Each UC Location will specify these terms in a Statement of Work or Purchase Order, as the case may be. The University at its discretion, may remit payment to the Dealer through P-Card (credit card/similar methods) with a processing fee, as well as checks, or other electronic forms of payment. Supplier reserves the right to elect ACH or Check payment on any projects exceeding High Volume Tiers (Negotiable Tiers), as defined and noted In Exhibits A & B of Attachment A. for the purpose of avoiding additional merchant fees associated with credit card or similar payment methods. UC campuses/locations may accept, reject, or negotiate this supplier policy, during planning phase of a large project. Supplier is obligated to notify location of this policy, prior to any engagement of services or ordering of product. 2. All payments for UNIVERSITY purchases under this Agreement are Net 30 days of product delivery and shall not be subject to late charges or interest charges. Exceptions for phased payment, are noted within Section 5. The University, at its discretion, may remit payment to the Supplier through P-Card (credit card or similar, with merchant fees), checks, or other electronic forms of payment with the exception in B.1 above. Note the UC is entitled to 30 days free storage (Section 9 of Attachment A) from Dealer, if prearranged or mutually agreed. The 30 days shall begin when product arrives to Dealer’s facility/dock. Any period after that point, may be charged at rates quoted within this Agreement. This arrangement does not extend requirements for payment to Supplier, if product is available for inspection/verification. As previously stated, invoices must be paid with a minimum of 90% payment, withholding a maximum of 10% for outstanding line item charges. 3. Notwithstanding the provisions of Article 3 of the Terms and Conditions of Purchase, UC will not pay freight/shipping or basic delivery costs for Manufacturer’s goods. Installation and other services may be charged separately, when not included as part of a ‘Service Package’ (service and product, priced as a reduced percentage...

Invoicing and Settlement. In respect of its remuneration for the Project, the SP shall be eligible to receive payments in accordance with the Schedule V of the Agreement read along with the Service Level Agreement. a) The MCA shall be invoiced by the SP within 7(Seven) days of achieving respective Payment Milestones for the Project. Unless otherwise agreed in writing between the Parties or expressly set out in the Agreement or SLA, the SP shall raise an invoice as per the terms of payment as stated in Schedule V of the Agreement. b) Any invoice presented in accordance with this Article shall be in a form agreed in advance by the MCA. c) Invoices shall be accurate and all adjustments to or changes in the terms of payment as stated in the Schedule V of the Agreement shall be applied to the next payment invoice. d) The MCA shall be entitled to delay or withhold payment of any invoice or part of it delivered by the SP under Schedule V of this Agreement where the MCA disputes/withholds such invoice or part of it. The withheld amount shall be limited to that which is in dispute. The disputed / withheld amount shall be settled in accordance with the escalation procedure as set out in Schedule VII of this Agreement. Any exercise by the MCA under this Article shall not entitle the SP to delay or withhold provision of the Services. e) The Service Provider shall pay all their sub-contractors in a timely fashion in accordance with a mechanism which will not prejudice the objective under this Agreement or SLA of MCA or any of its users under this Agreement.