Accounting Model Sample Clauses

Accounting Model. Payment under this contract shall be based on when work is performed, consistent with Oregon State government accounting procedures. Except for contracts based on number of hours, the accounting model used for payment under the contract assumes the disposition of an average case assigned under the contract occurs within 90 days of the assignment. The model also assumes approximately one-third of the work is performed in the month the case is assigned and one-third of the work is performed in each of the following two months. SCA shall pay Contractor according to this accounting model out of funds for the biennium during which the work is performed.
AutoNDA by SimpleDocs
Accounting Model. Payments on any trading site may be realised using post-paid or pre-paid models. The post-paid model requires the provider to place trust in the consumer (buyer) that the payment will be made as agreed after the data is obtained correctly. The pre- provider that the data will be delivered once the payment has been made as agreed. Neither model guarantees both consumer and provider satisfaction, and both bear some risk if the other party breaches the terms of the agreement. There is also a requirement for a TTP to provide both the provider and the consumer with an escrow service.

Related to Accounting Model

  • Accounting Standards The Subrecipient agrees to comply with 2 CFR 200 and agrees to adhere to the accounting principles and procedures required therein, utilize adequate internal controls, and maintain necessary source documentation for all costs incurred.

  • Accounting System Maintain a system of accounting that enables Borrowers to produce financial statements in accordance with GAAP and maintain records pertaining to the Collateral that contain information as from time to time reasonably may be requested by Agent. Borrowers also shall keep an inventory reporting system that shows all additions, sales, claims, returns, and allowances with respect to the Inventory.

Time is Money Join Law Insider Premium to draft better contracts faster.