Payment/Remuneration Clause Samples
The Payment/Remuneration clause defines the terms and conditions under which one party compensates the other for goods, services, or work performed. It typically outlines the amount to be paid, the payment schedule, acceptable methods of payment, and any conditions or milestones that must be met before payment is made. This clause ensures both parties have a clear understanding of financial obligations, reducing the risk of disputes over payment timing or amounts.
Payment/Remuneration. Owner shall pay the Contractor the sum, indicated in schedule 1 and Inclusive of VAT, by cheque or direct debit as agreed between the parties [include deposit if any, retention money etc]. This amount represents the entire amount due by the Owner and is inclusive of all direct and indirect taxes. The Owner shall pay an advanced payment of 5% of the contract sum to the contractor and on the day when the order to start works will be issued. The parties agree that the Contractor will carry out the works at the rates stipulated in the attached ▇▇▇▇ of quantities. Expenses including provision of water and electricity, cleaning of the site and other charges to carry out the job are to be borne by the Contractor The parties agree that all works are to be measured and certified by the site manager or by the architect representing the Owner. The architect or site manger obliges himself to measure within two weeks from completion of works. The architect or site manager is to issue hand over certificates when other trades move in. The architect or site manager is to issue a Certificate of completion of works after necessary inspection is carried out and after any defects in the works are noted and addressed. The architect or site manager can issue extra works up to a total value not exceeding 30% of the contract value. Similarly, the site manager or the architect can reduce the scope of works by 20% of the contract value. Any changes to price in material shall be discussed with architect, Owner and Contractor. Any adjustments, if justified, are to be approved by the architect.
Payment/Remuneration. Owner shall pay the Contractor the sum, indicated in schedule 1 and Inclusive of VAT, by cheque or direct debit as agreed between the parties [include deposit if any, retention money etc]. This amount represents the entire amount due by the Owner and is inclusive of all direct and indirect taxes. The parties agree that the Contractor will carry out the works at the rates stipulated in the attached ▇▇▇▇ of quantities. Expenses including provision of water and electricity, cleaning of the site and other charges to carry out the job are to be borne by the Contractor The parties agree that all works are to be measured and certified by the site manager or by the architect representing the Owner. The architect or site manger obliges himself to measure within two weeks from completion of works. The architect or site manager is to issue hand over certificates when other trades move in. The architect or site manager is to issue Certificate of completion of works after necessary inspection is carried out and after any defects in the works are noted and addressed. The architect or site manager can issue extra works up to a total value not exceeding 30% of the contract value. Similarly, the site manager or the architect can reduce the scope of works by 20% of the contract value. Any changes to price in material shall be discussed with architect, Owner and Contractor. Any adjustments, if justified, are to be approved by the architect.
Payment/Remuneration. Sponsor shall compensate Study Site for the work performed under each Study pursuant to the terms set forth in Article 4 of the Collaboration Agreement (Research Support) and the approved Work Order. To the extent that the “discounted” pricing set forth in Exhibit C of the Collaboration Agreement is different from the pricing agreed to by the Parties in an approved Work Order, the Work Order pricing will control. Each Work Order shall further specify the schedule for any payments and the amounts applicable to the Study. The Investigator shall not personally receive any remuneration by Sponsor under this Agreement.
Payment/Remuneration. 1The payment shall be made in four quarterly installments i.e. after 3 months. The rates of services shall be as under: - S/No Item’s Name / Description Amount in Rupees (including Taxes) (1) Complete Maintenance and Operation during official daily working hours (quote in Rupees per Month) (2) Additional Operation Time on Saturday, Sunday, official holidays and periods beyond official daily working hours (quote in Rupees per Hour)