General Billing and Payment Rules Sample Clauses
The General Billing and Payment Rules clause establishes the fundamental procedures and expectations for invoicing and payment between parties in a contract. It typically outlines when and how invoices should be issued, acceptable payment methods, and the timeframe within which payments must be made. For example, it may specify that invoices are due within 30 days of receipt and detail any penalties for late payment. This clause ensures both parties have a clear understanding of their financial obligations, reducing the risk of disputes and promoting timely payments.
General Billing and Payment Rules. This Section 35.20.20.1 of the Agreement sets forth the billing and payment rules that apply to all charges arising under this Agreement except for charges resulting from the M2M coordination process set forth in Schedule D to this Agreement.