Billing Information and Payment Sample Clauses
The "Billing Information and Payment" clause defines the obligations and procedures related to invoicing and the settlement of payments between parties. It typically outlines how and when invoices must be issued, the acceptable methods of payment, and the timeframe within which payments are due. For example, it may require the client to provide accurate billing details and stipulate that payment must be made within 30 days of receiving an invoice. This clause ensures both parties have a clear understanding of financial expectations, reducing the risk of disputes over payment terms and helping to maintain smooth business operations.
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Billing Information and Payment. Deleted: i
11.1 Calculating Tax Invoices for Distribution Service charges:
Billing Information and Payment. Clause 9.1 of the draft DDA requires the trader to provide information to enable the Distributor to calculate Distribution Services charges and prepare Tax Invoices, in accordance with Schedule 2. In some cases however, the Distributor may prefer to use their own information. As such, WEL’s agreement contains the clause that (b) The Distributor may elect, by notice to the Retailer, to use its own information to calculate all or part of the Distribution Services charges payable by the Retailer in accordance with this clause 11. Similarly Vector’s negotiated agreement provides for a pro forma tax invoice to be issued prior to the actual, which is the billing approach for Vector’s Northern network and the preferred billing method for some retailers on Vector’s Auckland network. It would be preferable for the DDA to allow Distributors and Traders to continue their mutually agreed billing approaches, and in any case continue to use their own information and/or estimates having given the trader notice. This avoids having to “wait and see” if the retailer provides its data on time before estimating the tax invoice. In some cases, the ability for the distributor to estimate the invoice may be more timely and efficient.
Billing Information and Payment. 11.1 Calculating Tax Invoices for Distribution Service charges: [The Retailer will provide consumption information, and the Distributor will calculate Distribution Services charges payable by the Retailer, in accordance with the following:
(a) the Retailer will provide to the Distributor, by 5:00pm on the 5th Working Day after the end of each month, and in accordance with the EIEP[s] set out in paragraph (b), all information that the Distributor reasonably requires to enable it to calculate the Distribution Services charges payable by the Retailer to the Distributor;
(b) the parties acknowledge that the Distributor’s Pricing Policy and Methodology is based on it receiving consumption volume information from the Retailer using:
(i) [the [as-billed] [incremental normalised] [replacement normalised] [incremental replacement normalised] reporting methodology, as that methodology is defined in EIEP 1;]
(ii) [summary consumption information as described in EIEP 2; and]
(iii) [information in respect of half-hour metered ICPs as described in EIEP 3; and]
(c) the Distributor will calculate the charges based on the Tariff Rates that apply to each chargeable quantity to which the Tax Invoice relates.
Billing Information and Payment