Common use of Provisional Invoice Clause in Contracts

Provisional Invoice. In the event all relevant price assessments or quotations are not available or the final contractual quantity is not known when Seller’s invoice is prepared and delivered, the Buyer shall pay Seller’s provisional invoice within two (2) New York Banking Days after receipt of invoice. Seller’s provisional invoice shall be calculated using all then available relevant price assessments or quotations and, in the case, where contractual quantity is determined by the quantity determined at the discharge location, the quantity in the provisional invoice shall be determined by taking 99.5% of the bill of lading or other shipment document quantity at the load port In the event Seller’s initial invoice was a provisional invoice, as and when all relevant price assessments or quotations are available and/or the final delivered outturn quantity at the discharge location is known, Seller will deliver its final invoice to Buyer, such final invoice will reflect the difference between provisional payment received and final payment value. The owing party shall remit the difference to the owed party within two (2) New York Banking Days from final invoice delivery.