Common use of Fees and Payment Terms Clause in Contracts

Fees and Payment Terms. Fees/Rates and payment terms can be specified in Section 1 of the Agreement or, if you have a need for more detailed terms, you can identify those here. As a drafting tip, you want to (a) establish the compensation to be paid to Provider (e.g., flat fee, per diem, hourly rate, insert rate schedule) and (b) include any limits on compensation (e.g., Provider’s total compensation shall not exceed $X.XX without prior written authorization from the University.)