Common use of Price and Payment Clause in Contracts

Price and Payment. 4.1 Unless otherwise specified in the Purchase Order, the price for the Work includes all taxes and other charges such as shipping and delivery charges, duties, customs, tariffs, imposts and government-imposed surcharges. Supplier will, at Cisco’s request, break-out from the price all such taxes 4.2 Cisco will pay Supplier the price in accordance with the payment terms set forth in the Purchase Order following the later of: (i) the Delivery Date; (ii) the date of Cisco’s acceptance of all of the Work; or (iii) Cisco’s receipt of a properly prepared invoice. A properly prepared invoice must include the Purchase Order number and, if required in the Purchase Order, Supplier’s certification of conformance of the Work to the requirements. Payment will be in the currency of the country in which the Cisco entity or affiliate identified in the Purchase Order is located, and if the price set forth in the Purchase Order is not in the local currency, then Cisco will determine the local currency equivalent of the price as of date of payment. Cisco may, at any time, set-off any amounts Supplier owes Cisco against any amounts Cisco owes to Supplier or any of its affiliated companies.