Common use of Frequency and records of payments Clause in Contracts

Frequency and records of payments. 2.1 Every Party will pay to the Cambs HIA Budget quarterly (by the middle of the following quarter) one quarter of the estimated annual fees due to Cambs HIA, subject to review after the second quarter, with final adjustment once the actual fees due for the Financial Year are calculated and agreed. Subject to the foregoing, the final adjustment shall be paid by end of the month following the receipt of invoice. 2.2 The GVO or PSHO of the relevant Party shall maintain and submit to the relevant Party's finance team and to the Cambs HIA Accountant, for each quarterly period a record of fees charged to Service Customers per job and the applicable percentage and amount. Fees shall only be charged for completed jobs (paid), unless otherwise agreed by the GVO or PSHO. The GVO or PSHO shall submit their final fees for the year by 5th April in each year to the HIA Accountant, The HIA Accountant shall provide the annual adjustment fee invoice to the relevant council's finance teams and GVO or PSHO by 30 April for the preceding Financial Year, detailing total fees due less the value of on account payments already paid by the Party. 2.3 Each Party shall pay Cambs HIA its annual adjustment invoice within thirty (30) days of receipt, provided there is no dispute outstanding.