untimely billing Clause Samples
The untimely billing clause defines the consequences and procedures when invoices are not issued within a specified timeframe. Typically, this clause sets a deadline by which a party must submit bills for payment, and may state that failure to do so could result in delayed or forfeited payment. Its core function is to encourage prompt invoicing, prevent disputes over late charges, and ensure that financial obligations are managed efficiently and transparently.
untimely billing. The Parties agree that those portions of bills that are not disputed shall be paid when due, that interest applies to all overdue invoices as set forth in §8.1 to this Agreement, and that no other late payment fee or charge applies to overdue invoices. The Parties further agree that if any billing dispute is resolved in favor of the disputing Party the disputing Party will receive, by crediting or otherwise, interest applied to the disputed amount as set forth in §8.0 of this Agreement.