Common use of Payment and VAT Clause in Contracts

Payment and VAT. The Customer shall pay all Contract Charges that are properly due and payable to the Supplier in cleared funds in arrears within thirty 30 days of receipt of an Invoice (which shall include VAT at the prevailing rate) submitted in accordance with the provisions of this Contract. The Supplier shall ensure that each Invoice (whether submitted electronically or in a paper form, as the Customer may specify) contains the information specified by the Customer in the Order Form; contains all appropriate references; contains a detailed breakdown of the Services provided; provides full cost transparency of the make-up of the Contract Charges including details of direct and indirect costs, overheads, salary costs of Supplier Staff, material costs and other labour costs to a level of detail agreed in advance with the Customer; is supported by any other documentation reasonably required by the Customer to substantiate the Invoice (including VAT breakdowns, timesheets, Accepted Stories and associated Story Points, details of Expenses etc.) and all Invoices submitted to the Customer for the Services shall be exclusive of any Management Charge. The Supplier shall fully indemnify the Customer on demand and on a continuing basis against any liability, including without limitation any interest, penalties or costs, which are suffered or incurred by or levied, demanded or assessed on the Customer at any time (whether before or after the making of a demand pursuant to the indemnity hereunder) in respect of the Supplier's failure to account for or to pay any VAT relating to payments made to the Supplier under this Contract. Any amounts due under this Clause 14.3 shall be paid by the Supplier to the Customer not less than five (5) Working Days before the date upon which the tax or other liability is payable by the Customer.

Payment and VAT. The Customer shall pay all Contract Charges that are properly due and payable to the Supplier in cleared funds in arrears within thirty 30 days of receipt of an Invoice (which shall include VAT at the prevailing rate) submitted in accordance with the provisions of this Contract. The Supplier shall ensure that each Invoice (whether submitted electronically or in a paper form, as the Customer may specify) contains the information specified by the Customer in the Order Form; contains all appropriate references; contains a detailed breakdown of the Services provided; provides full cost transparency of the make-up of the Contract Charges including details of direct and indirect costs, overheads, salary costs of Supplier Staff, material costs and other labour costs to a level of detail agreed in advance with the Customer; is supported by any other documentation reasonably required by the Customer to substantiate the Invoice (including VAT breakdowns, timesheets, Accepted Stories and associated Story Points, details of Expenses etc.) and all Invoices submitted to the Customer for the Services shall be exclusive of any Management Charge. The Supplier shall fully indemnify the Customer on demand and on a continuing basis against any liability, including without limitation any interest, penalties or costs, which are suffered or incurred by or levied, demanded or assessed on the Customer at any time (whether before or after the making of a demand pursuant to the indemnity hereunder) in respect of the Supplier's failure to account for or to pay any VAT relating to payments made to the Supplier under this Contract. Any amounts due under this Clause 14.3 shall be paid by the Supplier to the Customer not less than five (5) Working Days before the date upon which the tax or other liability is payable by the Customer. RECOVERY OF SUMS DUE Wherever under this Contract any sum of money is recoverable from or payable by the Supplier, the Customer may unilaterally deduct that sum from any sum then due, or which at any later time may become due to the Supplier under this Contract or under any other Call-Off agreement or other agreement between the Supplier and the Customer. Any overpayment by either Party, whether of the Contract Charges or of VAT or otherwise, shall be a sum of money recoverable by the Party who made the overpayment from the Party in receipt of the overpayment. The Supplier shall make any payments due to the Customer without any deduction whether by way of set-off, counterclaim, discount, abatement or otherwise unless the Supplier has a valid court order requiring an amount equal to such deduction to be paid by the Customer to the Supplier. All payments due under this Clause 15 due shall be made within thirty (30) days from the date that the Parties agree that the payment is due (unless agreed otherwise) and shall be made in cleared funds, to such bank or building society account as the recipient Party may from time to time direct.