Penalty Timeframes and Amounts Sample Clauses
The 'Penalty Timeframes and Amounts' clause defines the specific periods during which penalties may be imposed and the corresponding financial amounts or rates that apply. Typically, this clause outlines deadlines for performance or payment, and details the incremental or fixed penalties incurred if these deadlines are missed. By clearly specifying when penalties begin to accrue and how much is owed, the clause ensures both parties understand the consequences of non-compliance, thereby promoting timely performance and reducing disputes over late actions or payments.
Penalty Timeframes and Amounts.
5.8.1.1 A first penalty of $1.00 (one dollar) will be assessed if an encounter data line or header with an identified error is not corrected by the end of the first calendar quarter following the calendar quarter in which the line was originally processed.
5.8.1.2 A second penalty of $1.00 (one dollar) will be assessed if the same encounter line error is not corrected by the end of the second calendar quarter following the calendar quarter in which the line was originally processed.
5.8.1.3 A third penalty of $1.00 (one dollar) will be assessed if the same encounter line error is not corrected by the end of the third calendar quarter following the calendar quarter in which the line was originally processed.
5.8.1.4 A fourth penalty of $1.00 (one dollar) will be assessed if the same encounter line error is not corrected by the end of the fourth calendar quarter following the calendar quarter in which the line was originally processed.
Penalty Timeframes and Amounts. A first penalty of $1.00 (one dollar) will be assessed if an encounter data line or header with an identified error is not corrected by the end of the first calendar quarter following the calendar quarter in which the line was originally processed.