Common use of PRICE, INVOICING AND PAYMENT Clause in Contracts

PRICE, INVOICING AND PAYMENT. (a) In consideration for the Works supplied by the Supplier, the Company must pay the Supplier the Price (exclusive of GST). (b) Unless item 6 of Schedule 1 specifies otherwise, the Price shall be paid by the Company to the Supplier by the following progress payments: (i) 25% of the Price payable on the placement of Company’s order for the Works payable within 14 days of the invoice date; (ii) 65% of the Price payable from agreed despatch date of the Good(s) payable within 30 days from the end of the month in which the invoice is dated; and (iii) 10% on Practical Completion payable within 30 days from the end of the month in which the invoice is dated. (c) The Supplier may by agreement in writing with the Company introduce payment claims for materials, events, milestones, or for any reasonable reason. (d) The Supplier is entitled to charge interest for any unpaid progress payments from the period beginning on the day after the date on which the progress payment is due and ending on and including the date on which the progress payment is paid at a rate of 10% per annum. (e) Other than any agreed retention sum (if applicable) the Company shall not withhold, set-off or back charge any amount payable under a progress payment or any portion of the Price whatsoever unless the amount to be withheld is agreed to in writing by the Supplier. The Supplier will give reasonable consideration to such a request but is under no obligation to consent. (f) If an application is made pursuant to ‘Security of Payment’ legislation then the authorised nominating authority (or equivalent) will be the Master Builders Association of W.A, unless otherwise agreed. (g) All costs associated with debt recovery including the preparation of submissions pursuant to any of the ‘Security of Payment’ legislation will be recoverable as a debt due and payable in full under the Agreement. (h) The Company authorises the Supplier to obtain from any credit reporting agency and other credit providers, personal and commercial information relating to the Company for the purpose of assessing the Company for credit and collecting overdue payments. Subject to the Privacy Xxx 0000 (Cth), the Company also authorises the Supplier to give information on the Company’s credit worthiness with the Supplier to credit reporting agencies and other credit providers. (i) If the goods cannot be delivered to Site or collected from the Supplier within 7 calendar days of the original agreed dispatch date, the Supplier may charge a storage fee after the 7th day to be charged per week on a pro rata basis until the goods are delivered or collected from the Supplier. If in the event the Contract is for supply only the Purchaser must immediately make full payment for the goods and any relevant storage fees before the goods are released and upon such payment all risk transfers to the Purchaser despite the goods being stored on the Suppliers premises.

PRICE, INVOICING AND PAYMENT. (a) In consideration for the Works supplied by the Supplier, the Company 17.1 The Customer must pay the Supplier Contract Sum in accordance the Price (exclusive of GST)Contract. (b) Unless item 6 17.2 If the Purchase Order or any other Contract Document specifies that the Contract Sum or part of Schedule 1 specifies otherwiseit, is payable upon the Price shall satisfactory completion of a corresponding milestone, then the Customer will only be paid by required to pay that amount on completion of the Company milestone to the Supplier by the following progress payments:Customer's satisfaction. (i) 25% 17.3 The Customer may retain a proportion of the Price payable on payment for any milestones in the placement of Company’s order amount and for the Works payable within 14 days period stated in the Purchase Order or any other Contract Document for the due and proper performance and completion of the invoice date;Supplier's delivery obligations under the Contract (ii) 65% 17.4 The Supplier acknowledges that prior to signing the Purchase Order in respect of the Price payable from agreed despatch date Contract it has had the opportunity to satisfy itself as to the scope of its obligations under the Good(s) payable within 30 days from Contract and the end adequacy of the month in which the invoice is dated; and (iii) 10% on Practical Completion payable within 30 days from the end of the month in which the invoice is dated. (c) The Supplier may by agreement in writing with the Company introduce payment claims for materials, events, milestones, or for any reasonable reason. (d) The Supplier is entitled to charge interest for any unpaid progress payments from the period beginning on the day after the date on which the progress payment is due and ending on and including the date on which the progress payment is paid at a rate of 10% per annum. (e) Other than any agreed retention sum (if applicable) the Company shall not withhold, set-off or back charge any amount payable under a progress payment or any portion of the Price whatsoever unless the amount to be withheld is agreed to in writing by the Supplierits pricing. The Supplier will give reasonable consideration not be entitled to charge Customer for any fees, charges, expenses (including sums payable for travel, lodging, document reproduction, transportation and courier charges or any additional or unforeseen costs such a request but is under no obligation as those related to consentSite conditions incurred by Supplier) in addition to the Contract Sum. (f) If an application is made pursuant to ‘Security of Payment’ legislation then 17.5 The Customer must pay any amounts due under the authorised nominating authority Contract within 30 days (or equivalentsuch other period agreed in the Contract Documents) will be of receipt of a correctly rendered Tax Invoice. For the Master Builders Association avoidance of W.Adoubt, unless otherwise agreedno amount is payable by the Customer under the Contract until a Tax Invoice is received. (g) All costs associated with debt recovery including 17.6 The Supplier must, on all Tax Invoices, include the preparation of submissions pursuant to any Purchase Order number, the location and description of the ‘Security Goods delivered and the Services performed ad any other information reasonably required by the Customer and notified to the Supplier, which may include, the hours of Payment’ legislation will be recoverable as a debt due labour, rates charged and payable in full under the Agreementan itemised list of materials and costs. 17.7 The Customer must pay simple interest at a rate calculated in accordance with Section 22 of the Taxation Administration Act 1996 (hNSW) The Company authorises on any unpaid amount which is not in dispute, calculated daily from the Supplier to obtain from any credit reporting agency and other credit providers, personal and commercial information relating day after payment was due up to the Company for the purpose of assessing the Company for credit and collecting overdue payments. Subject to the Privacy Xxx 0000 (Cth)day that payment is made, the Company also authorises the Supplier to give information on the Company’s credit worthiness with the Supplier to credit reporting agencies and other credit providers.where: (ia) If the goods cannot be delivered Customer is a NSW Government Body (b) the Customer fails to Site or collected from the Supplier pay when payment was due, that is, within 7 calendar 30 days of the original agreed dispatch date, the Supplier may charge receipt of a storage fee after the 7th day to be charged per week on a pro rata basis until the goods are delivered or collected from the Supplier. If in the event the Contract is for supply only the Purchaser must immediately make full payment for the goods and any relevant storage fees before the goods are released and upon such payment all risk transfers to the Purchaser despite the goods being stored on the Suppliers premises.correctly rendered Tax Invoice;

PRICE, INVOICING AND PAYMENT. 17.1 The Customer must pay the Contract Sum in accordance the Contract. 17.2 If the Purchase Order or any other Contract Document specifies that the Contract Sum or part of it, is payable upon the satisfactory completion of a corresponding milestone, then the Customer will only be required to pay that amount on completion of the milestone to the Customer's satisfaction. 17.3 The Customer may retain a proportion of the payment for any milestones in the amount and for the period stated in the Purchase Order or any other Contract Document for the due and proper performance and completion of the Supplier's delivery obligations under the Contract 17.4 The Supplier acknowledges that prior to signing the Purchase Order in respect of the Contract it has had the opportunity to satisfy itself as to the scope of its obligations under the Contract and the adequacy of its pricing. The Supplier will not be entitled to charge Customer for any fees, charges, expenses (including sums payable for travel, lodging, document reproduction, transportation and courier charges or any additional or unforeseen costs such as those related to Site conditions incurred by Supplier) in addition to the Contract Sum. 17.5 The Customer must pay any amounts due under the Contract within 30 days (or such other period agreed in the Contract Documents) of receipt of a correctly rendered Tax Invoice. For the avoidance of doubt, no amount is payable by the Customer under the Contract until a Tax Invoice is received. 17.6 The Supplier must, on all Tax Invoices, include the Purchase Order number, the location and description of the Goods delivered and the Services performed ad any other information reasonably required by the Customer and notified to the Supplier, which may include, the hours of labour, rates charged and an itemised list of materials and costs. 17.7 The Customer must pay simple interest at a rate calculated in accordance with Section 22 of the Taxation Administration Act 1996 (NSW) on any unpaid amount which is not in dispute, calculated daily from the day after payment was due up to the day that payment is made, where: (a) In consideration for the Works supplied by the Supplier, the Company must pay the Supplier the Price (exclusive of GST).Customer is a NSW Government Body (b) Unless item 6 of Schedule 1 specifies otherwisethe Customer fails to pay when payment was due, the Price shall be paid by the Company to the Supplier by the following progress payments: (i) 25% of the Price payable on the placement of Company’s order for the Works payable that is, within 14 30 days of the invoice datereceipt of a correctly rendered Tax Invoice; (iic) 65% of the Price payable from agreed despatch date of Supplier is a Small Business identified as such on the Good(s) payable within 30 days from the end of the month in which the invoice is datedcorrectly rendered Tax Invoice or statement and provided any verifying documentation requested; and (iii) 10% on Practical Completion payable within 30 days from the end of the month in which the invoice is dated. (c) The Supplier may by agreement in writing with the Company introduce payment claims for materials, events, milestones, or for any reasonable reason. (d) The Supplier is entitled to charge the amount of interest for any unpaid progress payments from the period beginning on the day after the date on which the progress payable exceeds $20.00, provided that payment is due payment on account only and ending on and including is not an admission of liability or evidence that the date on which the progress payment is paid at a rate of 10% per annum. (e) Other than any agreed retention sum (if applicable) the Company shall not withhold, set-off or back charge any amount payable under a progress payment or any portion of the Price whatsoever unless the amount to be withheld is agreed to in writing by the Supplier. The Supplier will give reasonable consideration to such a request but is under no obligation to consent. (f) If an application is made pursuant to ‘Security of Payment’ legislation then the authorised nominating authority (or equivalent) will be the Master Builders Association of W.A, unless otherwise agreed. (g) All costs associated with debt recovery including the preparation of submissions pursuant to any of the ‘Security of Payment’ legislation will be recoverable as a debt due and payable in full obligations under the AgreementContract have been completed satisfactorily. (h) The Company authorises the Supplier to obtain from any credit reporting agency and other credit providers, personal and commercial information relating to the Company for the purpose of assessing the Company for credit and collecting overdue payments. Subject to the Privacy Xxx 0000 (Cth), the Company also authorises the Supplier to give information on the Company’s credit worthiness with the Supplier to credit reporting agencies and other credit providers. (i) If the goods cannot be delivered to Site or collected from the Supplier within 7 calendar days of the original agreed dispatch date, the Supplier may charge a storage fee after the 7th day to be charged per week on a pro rata basis until the goods are delivered or collected from the Supplier. If in the event the Contract is for supply only the Purchaser must immediately make full payment for the goods and any relevant storage fees before the goods are released and upon such payment all risk transfers to the Purchaser despite the goods being stored on the Suppliers premises.