THE PAYMENT TERMS Sample Clauses
The Payment Terms clause defines the conditions and schedule under which payments must be made between parties in a contract. It typically specifies the amount due, payment deadlines, acceptable methods of payment, and any penalties for late payment. By clearly outlining when and how payments are to be made, this clause helps prevent misunderstandings and disputes over financial obligations, ensuring both parties are aware of their responsibilities and reducing the risk of delayed or missed payments.
THE PAYMENT TERMS. The Supplier shall be entitled to charge interest on any undisputed overdue payment at the rate of 2% per annum above the base rate of Royal Bank of Scotland then prevailing, such interest being charged from the date on which the Supplier notifies the Customer of the overdue payment until payment of the amount due has been made. All amounts payable by one party to another party under this Agreement are deemed to be exclusive of VAT. If an amount so payable constitutes consideration for a taxable or deemed taxable supply by such other party to the first party, the first party shall on demand and upon receipt of an appropriate VAT invoice pay in addition the amount of VAT properly chargeable by such other party in respect of the taxable or deemed taxable supply in question. Where under this Agreement one party has agreed to reimburse or indemnify another party in respect of any payment made or cost incurred by such other party then the first party shall also reimburse the VAT paid by such other party which forms part of its payment made or cost incurred to the extent that such VAT is not available for credit (whether by way of set-off or repayment) for such other party or a member of a VAT group of which such party is a member (a “VAT Group Member”) under sections 24-26 (inclusive) of the Value Added Tax ▇▇▇ ▇▇▇▇ or any regulations made thereunder or under any similar or equivalent legislation replacing or introduced in addition to the same. The price for the Goods and Services shall be inclusive of any delivery costs and insurance costs, unless stated to the contrary in the relevant Purchase Order
THE PAYMENT TERMS. 2.1 The Supplier shall be entitled to charge interest on any undisputed overdue payment at the rate of 2% per annum above the base rate of Royal Bank of Scotland then prevailing, such interest being charged from the date on which the Supplier notifies the Customer of the overdue payment until payment of the amount due has been made.
THE PAYMENT TERMS. The Dealer will pay RTSW in pounds sterling by direct transfer to RTSW’s nominated bank account, and that payment must be received within 30 days after the date of RTSW’s invoice except as stated to the contrary elsewhere in this Agreement.