Common use of Early Payment Discount Clause in Contracts

Early Payment Discount. The City of Houston’s standard payment term is to pay 30 days after receipt of invoice or receipt of goods or services, whichever is later, according to the requirements of the Texas Prompt Payment Act (Tex. Gov’t Code, Ch. 2251). However, the City will pay in less than 30 days in return for an early payment discount from Contractor as follows: • Payment Time - 10 Days: 2% Discount • Payment Time - 20 Days: 1% Discount If the City fails to make a payment according to the early payment schedule above, but does make the payment within the time specified by the Prompt Payment Act, the City shall not receive the discount, but shall pay no other penalty. When the payment date falls on a Saturday, Sunday, or official holiday when City offices are closed and City business is not expected to be conducted, payment may be made on the following Business Day.

Early Payment Discount. The City of Houston’s standard payment term is to pay 30 days after receipt of invoice or receipt of goods or services, whichever is later, according to the requirements of the Texas Prompt Payment Act (Tex. Texas Gov’t Code, Ch. 2251). However, the City will pay in less than 30 days in return for an early payment discount from Contractor vendor as follows: • Payment Time - 10 Days: 2% Discount • Payment Time - 20 Days: 1% Discount If the City fails to make a payment according to the early payment schedule above, but does make the payment within the time specified by the Prompt Payment Act, the City shall not receive the discount, but shall pay no other penalty. When the payment date falls on a Saturday, Sunday, or official holiday when City offices are closed and City business is not expected to be conducted, payment may be made on the following Business Daybusiness day.

Early Payment Discount. The City of Houston’s standard payment term is to pay 30 days after receipt of invoice or receipt of goods or services, whichever is later, according to the requirements of the Texas Prompt Payment Act (Tex. Gov’t Code, Ch. 2251). However, the City will pay in less than 30 days in return for an early payment discount from Contractor as follows: • Payment Time - 10 Days: 2% Discount • Payment Time - 20 Days: 1% Discount If the City fails to make a payment according to the early payment schedule above, but does make the payment within the time specified by the Prompt Payment Act, the City shall not receive the discount, but shall pay no other penalty. When the payment date falls on a Saturday, Sunday, or official holiday when City offices are closed and City business is not expected to be conducted, payment may be made on the following Business Day.

Early Payment Discount. The City of Houston’s standard payment term is to pay 30 days after receipt of invoice or receipt of goods or services, whichever is later, according to the requirements of the Texas Prompt Payment Act (Tex. Texas Gov’t Code, Ch. 2251). However, the City will pay in less than 30 days in return for an early payment discount from Contractor vendor as follows: • Payment Time - 10 Days: 2% Discount • Payment Time - 20 Days: 1% Discount If the City fails to make a payment according to the early payment schedule above, above but does make the payment within the time specified by the Prompt Payment Act, the City shall not receive the discount, but shall pay no other penalty. When the payment date falls on a Saturday, Sunday, or official holiday when City offices are closed and City business is not expected to be conducted, payment may be made on the following Business Daybusiness day.

Early Payment Discount. The City of Houston’s standard payment term is to pay 30 days after receipt of invoice or receipt of goods or services, whichever is later, according to the requirements of the Texas Prompt Payment Act (Tex. Gov’t Code, Ch. 2251). However, the City will pay in less than 30 days in return for an early payment discount from Contractor as follows: • Payment Time - 10 Days: 2% Discount • Payment Time - 20 Days: 1% Discount If the City fails to make a payment according to the early payment schedule above, above but does make the payment within the time specified by the Prompt Payment Act, the City shall not receive the discount, but shall pay no other penalty. When the payment date falls on a Saturday, Sunday, or official holiday when City offices are closed and City business is not expected to be conducted, payment may be made on the following Business Day.

Early Payment Discount. The City of Houston’s standard payment term is to pay 30 days after receipt of invoice or receipt of goods or services, whichever is later, according to the requirements of the Texas Prompt Payment Act (Tex. Texas Gov’t Code, Ch. 2251). However, the City will pay in less than 30 days in return for an early payment discount from Contractor vendor as follows: • Payment Time - 10 Days: 2% Discount • Payment Time - 20 Days: 1% Discount If the City fails to make a payment according to the early payment schedule above, but does make the payment within the time specified by the Prompt Payment Act, the City shall not receive the discount, but shall pay no other penalty. When the payment date falls on a Saturday, Sunday, or official holiday when City offices are closed and City business is not expected to be conducted, payment may be made on the following Business Day.business day. Limit of Appropriation

Early Payment Discount. The City of Houston’s Houston’s standard payment term is to pay 30 days after receipt of invoice or receipt of goods or services, whichever is later, according to the requirements of the Texas Prompt Payment Act (Tex. Gov’t Gov’t Code, Ch. 2251). However, the City will pay in less than 30 days in return for an early payment discount from Contractor as follows: • Payment Time - 10 Days: 2% Discount • Payment Time - 20 Days: 1% Discount If the City fails to make a payment according to the early payment schedule above, but does make the payment within the time specified by the Prompt Payment Act, the City shall not receive the discount, but shall pay no other penalty. When the payment date falls on a Saturday, Sunday, or official holiday when City offices are closed and City business is not expected to be conducted, payment may be made on the following Business Day.