FORTNIGHTLY PAYMENTS Clause Samples
The 'Fortnightly Payments' clause establishes that payments under the contract will be made every two weeks. In practice, this means that the party responsible for payment must process and deliver funds to the other party on a biweekly schedule, often based on work completed or services rendered during the preceding two-week period. This arrangement ensures a regular cash flow for the recipient and helps both parties manage their financial planning, reducing the risk of payment delays and disputes over payment timing.
FORTNIGHTLY PAYMENTS. 22.1 Employees will be paid fortnightly according to the formula: Fortnightly pay = annual salary x 12/313
22.2 Employees will have their fortnightly salary paid by electronic funds transfer into a financial institution of their choice.
FORTNIGHTLY PAYMENTS. The salary payable to a Principal will be payable fortnightly and will be paid by electronic funds transfer into an account nominated by the Principal.
FORTNIGHTLY PAYMENTS. The salary or wage payable to an Employee will be payable fortnightly and will be paid by electronic funds transfer into an account nominated by the Employee.
FORTNIGHTLY PAYMENTS. Wages shall be paid fortnightly by electronic funds transfer into an account nominated by the employee.