Common use of Flexible Spending Agreements Clause in Contracts

Flexible Spending Agreements. If Customer purchased Flexible Spending Agreement option, the initial account balance is specified in the quotation. The account balance is reduced by the list price for the specified course per attendee. When the balance is depleted, customer may add funds to their account. If the account balance is negative, then customer shall promptly pay Philips the balance due. Account balances carry over from year to year during the agreement. However, any remaining account balance at the end of the agreement will not be refunded.