Payment Rebate definition
Payment Rebate means an amount due to the Authority from the Contractor as a result of a failure to meet the applicable KPI Target;
Payment Rebate means an amount due to the Authority from the Contractor as a result of a failure to meet the applicable KPI Target; The Contractor shall deliver Contractor Deliverables ordered pursuant to this Contract and work with the Authority in order to meet the applicable KPI Target indicated in the tables below. The Authority shall measure and provide the Contractor with a report detailing the Contractors performance against the KPIs in the preceding month and cumulatively from the beginning of the Contract Year to the end of the preceding month. The report shall be an agenda item for discussion at the quarterly meeting. Within 30 days from the end of the Contract Year the Authority shall provide the Contractor with a report detailing the Contractors performance against the KPIs over the Contract Year (“Performance Report”). The report shall be discussed and agreed at the quarterly meeting. Following agreement of the Performance Report the Authority shall be entitled to claim any Payment Rebate due. The Contractor shall credit any Payment Rebate claimed against invoices raised in the month following receipt of the Authority’s claim. The Payment Rebate for each KPI in the Contract Year shall be determined from the applicable percentage factor detailed in the Tables below that relates to the performance level achieved during the Contract Year against that KPI (“Percentage Factor”). The Percentage Factor shall be applied to the total price of Contractor Deliverables invoiced by the Contractor in the Contract Year to determine the amount of the Payment Rebate for the relevant KPI. The amount of any Payment Rebate for all KPIs shall not exceed in aggregate an amount greater than 5% of the total price of Contractor Deliverables invoiced by the Contractor during the Contract Year.
Payment Rebate means an amount due to the Authority from the Contractor
Examples of Payment Rebate in a sentence
The Authority shall measure the performance of the Contractor with reference to the Key Performance Indicators detailed at paragraph (8) below and shall be entitled to claim a Payment Rebate in the event that the Contractor fails to meet the KPI Targets.
KPI TARGET: More than or equal to 98% Performance Level More than or equal to 98% Less than 98% but more than or equal to 95% Less than 95% but more than or equal to 90% Less than 90% Payment Rebate Nil 1.5% 2.0% 2.5% KPI Description The value of NCDs expressed as a percentage of the total value of Articles to be delivered in the Contract Year.
KPI TARGET: Less than or equal to 2.5% Performance Level Less than or equal to 2.5% More than 2,5% but less than 5.0% More than 5.0% but less than 7.5% More than 7.5% Payment Rebate Nil 0.5% 1.0% 1.5% KPI Description The value of NSRs expressed as a percentage of the total value of Articles to be delivered in the Contract Year.
More Definitions of Payment Rebate
Payment Rebate means an amount due to the Authority from the Contractor as a result of a failure to meet the applicable KPI target; The Contractor shall deliver Contractor Deliverables ordered pursuant to this Contract and work with the Authority in order to meet the applicable KPI Target indicated in the tables below. The Authority shall measure and provide the Contractor with a report detailing the Contractors performance against the KPIs upon completion of Contract. Within 30 days from the end of the Contract Year the Authority shall provide the Contractor with a report detailing the Contractors performance against the KPIs over the Contract Year (“Performance Report”). The report shall be discussed and agreed at the quarterly meeting. Following agreement of the Performance Report the Authority shall be entitled to claim any Payment Rebate due. The Contractor shall credit any Payment Rebate claimed. The Payment Rebate for each KPI during the Contract shall be determined from the applicable percentage factor detailed in the Tables below that relates to the performance level achieved during the Contract against that KPI (“Percentage Factor”). The Percentage Factor shall be applied to the total price of Contractor Deliverables invoiced by the Contractor during the Contract period to determine the amount of the Payment Rebate for the relevant KPI. The amount of any Payment Rebate for all KPIs shall not exceed in aggregate an amount greater than 5% of the total price of Contractor Deliverables invoiced by the Contractor during the Contract period.
Payment Rebate means an amount due to the Authority, from the Contractor, as a results of a failure to meet the applicable KPI Target; The Contractor shall deliver Contractor Deliverables ordered pursuant to this Contract and work with the Authority to meet the applicable KPI Target indicated in the tables below. The Authority shall measure and provide the Contractor with a report detailing the Contractor’s performance against KPIs in the preceding month. The report shall be an agenda item for discussion at the quarterly meeting. Within 30 days from the end of the Contract Year the Authority shall provide the Contractor with a report detailing the Contractor’s performance against the KPIs over the Contract Year (“Performance Report”). The report shall be discussed and agreed at the quarterly meeting. Following agreement of the Performance Report the Authority shall be entitled to claim any Payment Rebate due. The Contractor shall credit any Payment Rebate claimed against invoices raised in the month following receipt of the Authority’s claim. The Payment Rebate for each KPI in the Contract Year shall be determined from the applicable percentage factor detailed in the tables below that relates to the performance level achieved during the Contract Year against that KPI (“Percentage Factor”). The Percentage Factor shall be applied to the total price of Contractor Deliverables invoiced by the Contractor in the Contract Year to determine the amount of the Payment Rebate for the relevant KPI. The amount of any Payment Rebate for all KPIs shall not exceed in aggregate an amount greater than 5% of the total price of Contractor Deliverables invoiced by the Contractor during the Contract Year. The KPI Descriptions, Targets and applicable Payment Rebates are as follows: KPI No 1 Delivery Performance KPI Description The number of order lines completed by the agreed delivery date expressed as a percentage of the total number of order lines delivered in the period. KPI Target: More than or equal to 98% Performance Level More than or equal to 98% Less than 98% but more than or equal to 95% Less than 95% but more than or equal to 90% Less than 90% Payment Rebate Nil 1.5% 2.0% 2.5% KPI No 2 New Stores Rejects KPI Description The number of New Stores Rejects raised (where it is agreed that the Contractor is liable) as a percentage of the total number of order lines delivered in the period. KPI Target: Less than or equal to 1% Performance Level Less than or equal to 1% More than 1% but les...
Payment Rebate means an amount due to the Authority from the Contractor as a result of a failure to meet the applicable KPI target.