Common use of Disputes on Invoices Clause in Contracts

Disputes on Invoices. Notwithstanding the provisions in Section 5.2(a), each Party may, in good faith, dispute the correctness of any invoice issued by the other Party under this Article 5 within six (6) months after receipt of such invoice. Any such dispute must be in writing and state the basis for the dispute, which must be made in good faith. Subject to Section 9.5, a Party may withhold payment of the disputed amount until two (2) Business Days following the resolution of the dispute, and any amounts not paid when originally due and subsequently determined to be due and payable shall bear interest at the Default Rate from the due date as originally invoiced. Any undisputed amounts not paid by the applicable due date are delinquent and will accrue interest at the Default Rate. Inadvertent overpayments will be returned upon request or credited by the Party receiving such overpayment against amounts subsequently due from the other Party. Any dispute with respect to an invoice is waived unless the disputing Party notifies the other Party in accordance with this Section 5.3 within six

Appears in 2 contracts

Samples: Guaranty, Guaranty

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