Billing and payment errors Clause Samples
The "Billing and payment errors" clause defines how mistakes in invoicing or payments are identified and corrected between parties. Typically, this clause outlines the process for notifying the other party of an error, the timeframe for raising such issues, and the method for adjusting overpayments or underpayments, such as issuing credits or additional invoices. Its core function is to ensure that both parties have a clear, fair mechanism for resolving financial discrepancies, thereby reducing disputes and maintaining accurate financial records.
Billing and payment errors. (a) If the Multiplex Licensee has omitted or miscalculated the Standard Charges in an invoice, the Multiplex Licensee will include or amend those Standard Charges in a later invoice, provided that the later invoice is issued within 180 days of the date that the omitted or miscalculated Standard Charge was accrued.
(b) If the Access Seeker makes an overpayment in error, it must notify the Multiplex Licensee within 30 days of the date of the overpayment with sufficient details for the Multiplex Licensee to identify the overpayment. If the Multiplex Licensee, acting reasonably and in good faith, verifies the overpayment, the Multiplex Licensee must return the overpaid amount to the Access Seeker.