Common use of PAYMENT TERMS FOR INLAND GOODS Clause in Contracts

PAYMENT TERMS FOR INLAND GOODS. (Fifty) 50% Payment of the contract price shall be paid on receipt of material in good condition and upon the submission of the following documents: -. (i) One Original and Four Copies of supplier’s invoice showing contract number, goods description, quantity, unit price and total amount. (ii) Final Acceptance as per Inspection report issued by the concerned faculty. (iii) Two copies of packing list identifying contents of each package. (iv) Inspection Certificate issued by the user concerned department. (v) Final Acceptance Certificate issued by the Institute (i) Balance Fifty (50) % payment would be made against ‘Final Acceptance Certificate’ as per Para (B) (i) & (v) of goods to be issued by the consignee’s subject to recoveries, if any, either on account of non- rectification of defects/deficiencies not attended by the Supplier or otherwise.

PAYMENT TERMS FOR INLAND GOODS. (Fifty) 50% Payment of the contract price shall be paid on receipt of material in good condition and upon the submission of the following documents: -. (i) One Original and Four Copies of supplier’s invoice showing contract number, goods description, quantity, unit price and total amount. (ii) Final Acceptance as per Inspection report issued by the concerned faculty. (iii) Two copies of packing list identifying contents of each package. (iv) Inspection Certificate issued by the user concerned department. (v) Final Acceptance Certificate issued by the Institute (i) Balance Fifty (50) % payment would be made against ‘Final Acceptance Certificate’ as per Para (B) (i) & & (v) of goods to be issued by the consignee’s subject to recoveries, if any, either on account of non- non-rectification of defects/deficiencies not attended by the Supplier or otherwise.