MSMED ACT. If the Supplier is a micro, small or medium enterprise within the meaning of the Micro, Small and Medium Enterprises Development Act, 2006 ("MSMED Act"), it shall promptly furnish a declaration of the same to the Buyer along with such documentary evidence (including registration, memorandum etc. under the MSMED Act). For such categories of eligible Supplier//, payment terms shall be in accordance with the provisions of the MSMED Act. If there is any change in the status of the Supplier under the provisions of the MSMED Act, the same shall be promptly disclosed in writing to the Buyer and the Buyer reserves the right to effect a modification in payment terms accordingly.
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Samples: Ge Vernova Power Terms, Ge Terms, Ge Power Terms of Purchase
