Common use of COMPENSATION OF PROVIDER Clause in Contracts

COMPENSATION OF PROVIDER. 2.1 Provider agrees to provide all of the services and Equipment set forth in the Scope of Services. Following any applicable Installation at the Site of all Equipment by Provider and the acceptance thereof by the Customer, the Customer shall pay fees as identified and described in the Scope of Services. (a) Payment balance for the work, services, and Equipment described in Section 2.1, above, shall be due and payable following the completion of the applicable Installation of the Equipment by Provider, the acceptance thereof by the Customer, and the receipt by the Customer of an invoice from Provider for such work, service and Equipment; provided. In the event that Installation has previously been completed, as laid down in the Scope of Services, the fees for such Services shall invoiced by Provider to Customer for said Services upon Effective date of this Agreement. (b) Except as set forth herein, payments will be processed on an annual basis, with payment available within 30 days after receipt of an invoice. All payments pursuant to this Agreement shall be made promptly and without undue delay, and in no circumstance beyond 60 days from the due date. (c) Should the Customer fail to pay any invoice that is outstanding more than 60 days, a 5% service fee will be applied to the total amount of that invoice, not including any shipping or sales tax.