PAYMENT IS DUE Clause Samples
The "Payment is Due" clause establishes when a payment obligation must be fulfilled by one party to another under a contract. Typically, it specifies a clear deadline or event—such as receipt of an invoice, completion of services, or delivery of goods—by which payment must be made. For example, it may require payment within 30 days of invoice receipt or upon project completion. This clause ensures both parties have a mutual understanding of payment timing, reducing disputes and promoting timely financial transactions.
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PAYMENT IS DUE. Any payment made by the Borrower is considered late if made more than day(s) after any payment due date (“Payment Due Date”). This shall include, but not be limited to, any payment made related to the Repayment Period, the Due Date, or any other payment mentioned in this Note.
PAYMENT IS DUE. (a) Cash on order;
(b) For Credit Approved Customers, within the agreed credit period from invoice date;
(c) Monthly in advance; or
(d) As specified in Annexure 1.