Common use of CONTRACT CHARGES AND PAYMENT Clause in Contracts

CONTRACT CHARGES AND PAYMENT. Call Off Contract Charges The charges for the Product shall be calculated in accordance with Framework Schedule 3: Charging Structure. The applicable supplier margins can be found at Call Off Schedule 8. In accordance with Condition 4.2 of Framework Schedule 3, the method of calculation of the Commodity Price shall be Weekly Lagged Pricing. The Customer shall calculate the Commodity Price on the first working day of each week in accordance with Condition 4.2.2. of Framework Schedule 3. A pricing letter advising the Commodity Price(s) will be issued to the Supplier before 1200 hrs on the first working day of each week. In consideration of the Supplier's performance of its obligations under this Call Off Contract, the Customer shall pay the undisputed Call Off Contract Charges in accordance with Clause 24.2 (Payment and VAT). The Customer shall, in addition to the Call Off Contract Charges and following delivery by the Supplier of a Valid Invoice, pay the Supplier a sum equal to the VAT chargeable on the value of the Goods and/or Services supplied in accordance with this Call Off Contract. If at any time during this Call Off Contract Period the Supplier reduces its Supplier Maximum Margins for any Goods and/or Services which are provided under the Framework Agreement (whether or not such Goods and/or Services are offered in a catalogue (if any) which is provided under the Framework Agreement) in accordance with the terms of the Framework Agreement, the Supplier shall immediately reduce the Call Off Contract Charges for such Goods and/or Services under this Call Off Contract by the same amount. Payment and VAT The Customer shall pay all sums properly due and payable to the Supplier in cleared funds within thirty (30) days of receipt of a Valid Invoice, submitted in accordance with the provisions of this Call Off Contract. The Supplier shall ensure that each invoice (whether submitted electronically or in a paper form, as the Customer may specify) contains the following minimum information: description of the Goods and/or Services supplied. The Goods should be described using the generic descriptions as used by the Platts prices; quantity of Goods and/or Services supplied; commodity price; duty; Supplier Margin; discounts applied applicable Management Charge delivery date; delivery location; Unit Identity Number (UIN) of the delivery location and is accompanied by all other documentation reasonably required by the Customer to substantiate the invoice including but not limited to delivery notes and other forms of evidence of delivery. The Supplier shall ensure that all invoices submitted to the Customer for the Goods and/or Services are inclusive of any Management Charge applicable to the invoiced Goods and/or Services. In the event that the Customer queries the invoice, the Supplier must undertake to resolve the issue within 3 Working Days of being notified of the issue. If a Customer query cannot be resolved within this timescale, the Customer and the Authority must be notified immediately together with the Supplier’s suggested timescale for resolution.