Make and receive payments Clause Samples

The "Make and receive payments" clause outlines the obligations and procedures for how parties will handle financial transactions under the agreement. It typically specifies when payments are due, acceptable methods of payment, and any requirements for invoicing or documentation. For example, it may require payments to be made within 30 days of receiving an invoice or stipulate that funds must be transferred electronically. This clause ensures both parties have a clear understanding of their financial responsibilities, reducing the risk of disputes over payment timing or methods.