Common use of Payments for Products Clause in Contracts

Payments for Products. Unless Buyer has been approved for credit terms by Honeywell, payment for all Product Orders will be made at the time of Order placement. Partial shipments will be invoiced as they are shipped. In the event Buyer has been approved for credit terms, payment for Product Orders will be due no later than thirty (30) calendar days from the date of invoice, unless a shorter time is specified on the invoice or otherwise communicated to Buyer in writing. Honeywell will determine in its sole discretion if Xxxxx qualifies for credit terms. If credit terms are granted, Honeywell may change Xxxxx’s credit terms at any time in its sole discretion and may, without notice to Buyer, modify or withdraw credit terms for any order, including open orders. Honeywell may, at its sole discretion require additional security (e.g., bank guarantee, standby letter of credit, corporate guarantee, etc.) for a Buyer with no established credit terms and will be determined by Honeywell on a case-by-case basis. Partial shipments of Products will be invoiced as they are shipped, or, in the case of Software, in advance of deployment or providing access to the Software.

Payments for Products. Unless Buyer has been approved for credit terms by Honeywell, payment for all Product Orders will be made at the time of Order placement. Partial shipments will be invoiced as they are shipped. In the event Buyer has been approved for credit terms, payment for Product Orders will be due no later than thirty (30) calendar days from the date of invoice, unless a shorter time is specified on the invoice or otherwise communicated to Buyer in writing. Honeywell will determine in its sole discretion if Xxxxx qualifies for credit terms. If credit terms are granted, Honeywell may change Xxxxx’s credit terms at any time in its sole discretion and may, without notice to Buyer, modify or withdraw credit terms for any order, including open for the futur orders. Honeywell may, at its sole discretion require additional security (e.g., bank guarantee, standby letter of credit, corporate guarantee, etc.) for a Buyer with no established credit terms and will be determined by Honeywell on a case-by-by- case basis. Partial shipments of Products will be invoiced as they are shipped, or, in the case of Software, in advance of deployment or providing access to the Software.