Common use of Prices and Terms of Payment Clause in Contracts

Prices and Terms of Payment. 3.1. MIKROS will invoice the Client for the prices quoted in respect of Services to be provided at the times set out in the relevant Quote or Contract for Services. Unless otherwise mutually agreed in writing, XXXXXX’s quoted prices are for services and materials requiring standard procedures based upon the use of MIKROS facilities and personnel during normal working hours. 3.2. XXXXXX shall be entitled to make an adjustment to any quoted prices in the event that additional costs are incurred, or likely to be incurred, by reason of: 3.2.1. the Client Materials (or any part thereof) being, in the reasonable opinion of MIKROS, in any way defective, in an unsuitable format (or a different format to that which MIKROS is expecting to receive the same) or of unsuitable quality for normal processing; 3.2.2. any information supplied by the Client or any third party in connection with this Agreement and the Services being inaccurate or incomplete, or failing to give MIKROS a full and accurate indication of the work involved and/or time and resources required; 3.2.3. changes by the Client or any third party in its requirements for the Services or Works; 3.2.4. exceptional circumstances outside the control of MIKROS, including currency fluctuations and changes in third party costs; or 3.2.5. failure to timely provide any final instructions or Client approvals. 3.3. Subject to clause 3.4 and unless otherwise agreed by XXXXXX in writing, all invoices rendered by MIKROS are payable within 30 days of the date of invoice. 3.4. MIKROS expressly reserves the right, at its sole option, to require payment by instalments during the performance of this Agreement and/or to require payment of all amounts due to MIKROS in respect of Works to be provided prior to delivery of such Works.