Product Price Payment Clause Samples
The Product Price/Payment clause defines the terms regarding the cost of goods or services and the manner in which payment must be made. It typically specifies the exact price, acceptable payment methods, due dates, and any conditions for adjustments such as discounts or penalties for late payment. By clearly outlining these financial terms, the clause ensures both parties understand their monetary obligations, reducing the risk of disputes over payment and facilitating smooth commercial transactions.
Product Price Payment. A. District shall pay Seller for Dewatering Polymer at the initial unit prices per pound of active polymer of $3.05 for emulsion and $1.62 for dry from January 1, 2015 to December 31, 2015. All prices are F.O.B. destination. Seller's invoices shall contain the delivery date, net weight of each load delivered during the billing period and the amount due. District shall pay each invoice within 30 days of receipt.
B. Dewatering Polymer prices for the periods January 1, 2016, through December 31, 2016, and January 1, 2017 through June 30, 2017, will be adjusted to reflect the market price fluctuations of plastics materials as specified in the U. S. Bureau of Labor Statistics PPI Index, “Plastic Material and Resins Manufacturing” (PMRM), PCU325211325211 (Index). A cost/price ratio will be created using the annual average of the index and the beginning Index value for January of the previous year. This ratio will be applied to 50% of the initial price. This quotient, plus the remaining 50% of the initial price will create the new price for the coming year. Price adjustments are to be made to dewatering polymers only. If the Contract is renewed for one additional year the same cost/price ratio will be used to adjust the dewatering polymer price for that renewal. The ratio formulation is as follows: ((initial price * .5) * cost/price ratio) + (initial price*.5) = new price for the coming year
C. District’s total payment to Seller for purchases under this Contract shall not exceed $737,464 annually for the contract period January 1, 2015 through December 31, 2016 and $368,732 for the contract period January 1, 2017 through June 30, 2017, unless the parties enter into an Amendment to the Contract.
D. Seller shall address all invoices as follows: Clean Water Services, ▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇, Attention: Accounts Payable. District shall place a date stamp on each invoice on the date the invoice is received and shall mail a copy of the invoice to Seller with payment. In the event of a dispute concerning the timing of payment, the date stamp on Seller's invoice and the postmark on the envelope containing District's payment shall be determinative. In the event of a dispute concerning the quantity of polymer delivered, District's payment of the invoice for the quantity in question shall not be construed as a waiver of District's legal rights.
Product Price Payment. After each payment of product prices, the Customer shall notify the Supplier via mail, phone call or text message; the Supplier must provide feedback at the e-commerce website as to whether it has received the relevant payment within three business days after its receipt of such notice. With regard to the Supplier which does not have Products to be delivered or existing contracts in transit, the balance due by the Customer to the Supplier shall be deemed as the last installment. The Customer shall pay to the Supplier the last installment after half a year upon expiry.
Product Price Payment. Subject to the terms and conditions herein, ▇▇▇▇▇ agrees to purchase from Seller and Seller agrees to sell to Buyer the product set forth in the Purchase Order (the “Product”) at the price set forth in the Purchase Order. All stated prices are exclusive of any taxes, fees and duties or other amounts, however designated, and including without limitation value added and withholding taxes which are levied or based upon such charges, or upon this Agreement (other than taxes based on the net income of Seller). Buyer shall pay Seller for the Product by wire transfer to Seller’s account set forth in the Purchase Order on the payment terms set forth in the Purchase Order. Seller reserves the right to charge interest up to the maximum legally permitted rate on all due and unpaid amounts. No charge will be allowed for packing, crating, freight, express, or other carrier's charges, or cartage, unless designated in the Purchase Order.
Product Price Payment. The last sentence of Paragraph 13 of Exhibit B is deleted and replaced with the following: “District’s total payment to Seller shall not exceed $301,000 from the start of the Contract through June 30, 2013 and $951,250 annually thereafter unless the parties enter into an Amendment of the Contract.”
Product Price Payment. 9.1 Arius shall pay Aveva the applicable Product Price for Products delivered to it within thirty (30) days of Arius’ receipt of (i) Conforming Products delivered in accordance with this Agreement and (ii) a detailed written invoice with respect to such Products. In the event that Arius rejects any Products pursuant to Section 7.7 hereof, Arius shall pay as provided in the previous sentence for all Products in such shipment that were not rejected. Products which are not Conforming Products (“Non-Conforming Products”) will be replaced, at no further charge to Arius, or the full purchase therefore shall be refunded to Arius, as determined by Arius in its sole discretion, as soon as reasonably practicable, but in any event no later than within thirty (30) days of written notice to Aveva of such Non-Conforming Products.
9.2 In the event that Arius fails to pay to Aveva any amount specified in this Agreement within ten (10) days after the relevant due date, Arius shall pay to Aveva an additional one and one half percent interest per month.
9.3 Arius shall, in its sole discretion, have the sole and exclusive right to determine all terms and conditions of sale of the Product to its customers.
9.4 Aveva shall, respectively, calculate and record Project Costs and Fully Burdened Manufacturing Costs in accordance with U.S. GAAP, and shall maintain all books and records related thereto in accordance with U.S. GAAP for the Term plus an additional three (3) years thereafter.
Product Price Payment