Common use of Payment; Invoices Clause in Contracts

Payment; Invoices. 5.1 Unless otherwise agreed, payments shall be due and payable no later than 60 (sixty) days net. If payment is made within 14 (fourteen) days, the Customer is entitled to a 3 % (three percent) discount. The period for payment shall commence as soon as any delivery or service is com- pleted and a correctly issued invoice is received. 5.2 The order number as well as the number of each individual item shall be detailed in invoices. Insofar as any such details are omitted, in- voices shall not be payable. Copies of invoices shall be marked as du- plicates. 5.3 Insofar as the Supplier is required to provide material testing, test rec- ords or quality control documents or any other documentation, such shall be a part of the requirements of the completeness of the delivery or performance. A discount shall also be allowed if the Customer sets off or withholds any payments to a reasonable extent on account of any deficiency. 5.4 Payment does not constitute an acknowledgement that the correspond- ing delivery or services were provided in accordance with the contract. 5.5 The Customer will be entitled to withhold and/or deduct from the pend- ing payments to the Supplier, the amount of the penalties imposed, and the damages and losses caused by the breach of the obligations by the Supplier.