PAYMENT ON A WEEKLY BASIS Sample Clauses
The 'Payment on a Weekly Basis' clause establishes that payments for goods, services, or work performed will be made every week. Typically, this means that the party receiving payment will submit invoices or timesheets at the end of each week, and the paying party is obligated to process and deliver payment within a specified timeframe, such as the following week. This arrangement ensures regular cash flow for the recipient and provides predictability for both parties, helping to avoid disputes over payment timing and supporting ongoing operations.
POPULAR SAMPLE Copied 3 times
PAYMENT ON A WEEKLY BASIS. Payment for services performed in the payroll week beginning on Sunday and ending on the following Saturday shall be made on Thursday of the following payroll week (holiday weeks excluded). The regular pay day will be on Friday for employees working on distant location. The parties confirm that any day worked by an employee in a partial workweek may be prorated at the rate of one-fifth (1/5) of the weekly rate for each day worked.