Common use of Payment Cycle Clause in Contracts

Payment Cycle. In consideration for the services rendered, the District agrees to pay the Provider monthly, or on expiration of this contract, whichever occurs first. If fixed price, state fixed dollar amount. If an hourly rate, state hourly rate, and estimated number of hours, and the not to exceed amount. Include all reimbursable expenses. If the provider is charging a daily rate, state how many hours equal one a day. Payment terms are Net 30 days upon receipt and acceptance of a proper invoice.