Common use of Payment Clause in Contracts

Payment. All payments are due within 30 days from date of invoice and are to be paid by bank transfer or check without discount. ACAT is not obligated to accept promissory notes or bills as payment. These may only be accepted based on a prior agreement. Discounts or other charges for bills/notes are to be charged to the Purchaser. Checks and promissory notes are considered to be payment only after their redemption. ACAT reserves the right to request advance payments or security or to withdraw from the contract if circumstances occur or become known which appear to jeopardize the claims of ACAT, including but not limited to the circumstance that the credit insurance rejects the coverage of the business underlying this contract partially or completely.