Payment Calculation Submission Clause Samples
The Payment Calculation Submission clause defines the process by which one party provides the other with a detailed statement of how payments are calculated under the agreement. Typically, this involves submitting a written calculation or invoice that outlines the amounts due, the basis for the calculation, and any supporting documentation required. This clause ensures transparency and accuracy in financial transactions by establishing a clear method for communicating and verifying payment amounts, thereby reducing the risk of disputes over payment obligations.
Payment Calculation Submission. Not later than five Business Days before the end of each month of the Operating Period, the Contractor shall submit to the Province its Payment Calculation, in the form as is set out in Appendix 2. In its monthly Payment Calculation, the Contractor shall complete Category “A”, reporting all expected Capital Payments and O&M Payments for that month from Appendix 1 of this Schedule, and Category “B”, reporting all of the Payment Adjustments relating to the previous month to be applied to that month’s Payment.
Payment Calculation Submission. Not later than five Business Days before the end of each month of the PNI Operating Period or Operating Period, as applicable, the Contractor shall submit to the Province its Payment Calculation. In its monthly Payment Calculation, the Contractor shall complete Category “A”, reporting all expected Capital Payments and O&M Payments for that month from Appendix 1 of this Schedule, and Category “B”, reporting all of the Payment Adjustments relating to the previous month to be applied to that month’s Payment.
Payment Calculation Submission. Not later than five Business Days before the end of each month of the M&R Period, the Contractor shall submit to the Province its Payment Calculation, in the form as is set out in Appendix 2. In its monthly Payment Calculation, the Contractor shall complete ASAP3 - Schedule 14 - Payment Schedule - July 3-12 Execution.doc Category “A”, reporting all expected Capital Payments and M&R Payments for that month from Appendix 1 of this Schedule, and Category “B”, reporting all of the Payment Adjustments relating to the previous month to be applied to that month’s Payment.