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charlene
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5 views

Payment

Uploaded by

charlene
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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Payment

[Drafting note: This is a precedent clause for provision of payment and


may be amended and inserted in any agreement.]

1.1 Party B will pay all invoices in full, without deduction or set-off other than
as required by law, prior to delivery of the Deliverables, within [insert
number] (Business Days OR days of invoice date OR receipt of invoice
OR by instalments as set out in Error: Reference source not found) to
Party A’s nominated bank account specified [insert details]. Where
sums due hereunder are not paid in full by the due date Party A may,
without limiting its other rights, charge interest in accordance with
clause [insert number].

1.2 VAT will be charged by Party A and paid by Party B at the then-
applicable rate.

1.3 Party A may set and vary credit limits from time to time and withhold all
further supplies if Party A exceeds such credit limit.

[Drafting note: Any provisions in brackets which are inapplicable


may be deleted.]

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