Common use of Contract Price Payment Clause in Contracts

Contract Price Payment. 5.1. In consideration for the Goods, Facilities and/or Services provided under the Contract the BBC shall pay to the Supplier the Contract Price exclusive of VAT (which if applicable shall be applied at the appropriate rate) subject to and in accordance with Clauses 5.2, 5.3, 5.4.1 and 5.4.2 below. 5.2. The Supplier shall submit a valid VAT invoice for the whole or any part of the Contract Price to the BBC at the address as specified in the Purchase Documentation quoting the relevant Purchase Documentation number and the Supplier and the BBC agree that the BBC shall pay such sums as are due by the end of the month following the month in which the invoice is dated. 5.3. The BBC reserves the right to withhold payment where the Goods, Facilities and/or Services have not been provided in accordance with the Contract and shall notify the Supplier accordingly. The BBC shall give reasons for the withholding of the payment and shall only be entitled to withhold that amount indicated as in dispute. If any sum of money shall be recoverable from or payable by the Supplier under this or any other contract with the Supplier, the same may be deducted from any sum then due or which at any time thereafter may become due to the Supplier under this or any other contract with the Supplier. Exercise by the BBC of its rights under this Clause shall be without prejudice to any other rights or remedies available to it under the Contract or otherwise, at law or in equity. 5.4.1. Subject to Clause 5.3 above and to Clause 5.4.2 below, in event that the BBC fails to make payment in accordance with Clause 5.2 above the Supplier shall be entitled to charge the BBC interest from the date specified for payment of the principal in Clause 5.2 upon the unpaid amount of the principal at the rate of 4% per annum above the Bank of England base rate in force from time to time until payment of the principal is made in full PROVIDED THAT written notice shall be given by the Supplier that the amount has not been paid and specifying the total amount of interest owed at the date of the notice, and, if the principal has not been paid, the daily rate at which the interest will continue to accrue; the invoice or invoices to which the interest relates; the addressee to whom and address to which payment should be made. 5.4.2. In the event that any sum is agreed between the parties or found to be due to the Supplier following the withholding of payment referred to in Clause 5.3 above, the BBC will pay interest on that sum in accordance with 5.4.1 above from the date on which the BBC would otherwise have paid that sum pursuant to Clause 5.2 above.

Contract Price Payment. 5.14.1. In consideration for of the Goods, Facilities and/or Services Deliverables provided under the Contract the BBC shall pay to the Supplier the Contract Price exclusive of VAT (which if applicable shall be applied at the appropriate rate) subject to and in accordance with Clauses 5.24.2, 5.3, 5.4.1 4.3 and 5.4.2 4.4 below. 5.24.2. The Supplier shall submit a valid VAT invoice for the whole or any part of the Contract Price to the BBC at the address as specified in the Purchase Documentation quoting the relevant Purchase Documentation number and the Supplier and the BBC agree that the number. The BBC shall pay such sums as are due by the end of the month following the month in which the invoice is dateddated in accordance with this Clause 4. 5.34.3. The BBC reserves the right to withhold payment where to the Goods, Facilities and/or Services extent that the Deliverables have not been provided in accordance with the Contract and shall notify the Supplier accordinglyaccordingly giving reasons for such withholding. The BBC shall give reasons for the withholding of the payment and shall only be entitled to withhold that amount indicated as in dispute. If any sum of money shall be is recoverable from or payable by the Supplier to the BBC under this or any other contract with the Supplier, the same may be deducted from any sum then due or which at any time thereafter may become due to the Supplier under this or any other contract with the Suppliercontract. Exercise by the BBC of its rights under this Clause shall be without prejudice to any other rights or remedies available to it under the Contract or otherwise, at law or in equity. 5.4.14.4. Subject to Clause 5.3 above Clauses 4.3, 4.4.1 and to Clause 5.4.2 below, in event that 4.4.2 if the BBC fails to make payment in accordance with Clause 5.2 above 4.2 the Supplier shall be entitled to charge the BBC interest from the date specified for payment of the principal sum described in Clause 5.2 4.2 upon the unpaid amount of the principal sum at the rate of 4% 4 per cent. per annum above the Bank of England base rate in force from at the time to time this Clause 4.4 becomes applicable until payment of the principal sum is made in full PROVIDED THAT THAT: 4.4.1. The Supplier shall give written notice shall be given by to the Supplier BBC that the amount has not been paid in accordance with Clause 4.2 and specifying specifying: the total amount of interest owed at the date of the notice, and, if the principal sum has not been paid, the daily rate at which the interest will continue to accrue; the invoice or invoices to which the interest relates; and the addressee to whom and address to which payment should be made.; 5.4.24.4.2. In the event that any sum is agreed between the parties or found to be due to the Supplier following the withholding of payment referred to in Clause 5.3 4.3 above, the BBC will pay interest on that sum in accordance with 5.4.1 Clause 4.4 above from the date on which the BBC would otherwise should have paid that sum pursuant to Clause 5.2 4.2 above. 4.5. Other than where specifically agreed in the Contract, the BBC shall not be obliged to pay any time or materials charges or expenses to the Supplier in addition to the Contract Price in respect of costs which the Supplier may have incurred in the performance of the Contract. Where the Contract does provide that the BBC shall/may reimburse the Supplier in relation to any expenses, it is a condition precedent of the BBC making any payment to the Supplier, that the expenses have been reasonably, properly and necessarily incurred by the Supplier in the performance of the Contract, that the expenses do not exceed those which a BBC employee of comparable qualifications and position would have been entitled to incur under applicable BBC staff expense policy guidelines, and that the Supplier has supplied the BBC with proper supporting evidence thereof. 4.6. Where the Supplier is VAT registered the Supplier shall recover VAT on any expenditure incurred as described in Clause 4.5 above, in the normal course of its business and shall specify only the net amount of such expenditure in the invoice to the BBC prior to adding VAT thereto at the appropriate rate. 4.7. The Supplier shall comply with relevant BBC budgetary limits which the BBC has provided to the Supplier from time to time and in the event that the Supplier exceeds such limits without the prior approval of the BBC, the BBC shall not be liable to reimburse the Supplier in respect of any sums over such limits.