ISO Billing Process Clause Samples
The ISO Billing Process clause defines the procedures and requirements for invoicing and payment between parties in accordance with standards set by the International Organization for Standardization (ISO). Typically, this clause outlines the timing, format, and documentation required for submitting invoices, as well as the process for addressing discrepancies or disputes. By establishing clear billing protocols, the clause ensures consistency, transparency, and efficiency in financial transactions, reducing the risk of misunderstandings or payment delays.
ISO Billing Process. From and after the first day of the month following the Service Date, the ISO, as agent for the Market Participants, shall apportion, ▇▇▇▇ and collect from the Market Participants payments and charges for delivery or non-delivery of services from the LRP Resource in the LRP Market in accordance with this Agreement, Market Rule 1 and the NEPOOL Manuals. All payments will be made through the ISO billing process directly to the Enrolling Participant. ISO shall have the right to set-off any amounts owed by Supplier under this Agreement against any payments otherwise payable to Supplier under this Agreement.