When is payment due? Clause Samples

When is payment due? a. If a retainer or advanced payment is required, then the retainer or advanced payment should be due at the execution of the Representative Agreement. b. If payment is based on an hourly or flat fee basis, the time at which the full payment is earned by the representative should be specified. c. If the payments are percentage based, then when are the percentage payments to be made, i.e. on a monthly basis or at the end of the playing season when bonuses and the full compensation are known, or some other accounting period or methodology? d. Normally the representative will receive compensation when the coach receives income or within a specified period thereafter.