Common use of THE FEE AND TERMS OF PAYMENT Clause in Contracts

THE FEE AND TERMS OF PAYMENT. 5.1 The Client agrees to pay to the Consultant as full remuneration for the Services the fee set out in Schedule 2. 5.2 Subject to clause 12, the Fee shall be invoiced and paid in instalments in accordance with Schedule 2. In relation to each instalment of the Fee, the Consultant will issue an invoice to the Client with copies submitted to the Project Manager. The due date for each payment (the “Due Date for Payment”) for an instalment of the Fee is the later of the date specified in Schedule 2 as the due date for invoice of the instalment and the date on which the Client receives an invoice for the instalment, submitted in accordance with this Agreement, for the instalment for the instalment. 5.3 Within five days of the Due Date for Payment of an instalment, the Client shall serve a notice on the Consultant specifying the amount which the Client considers to be properly due and the basis on which that amount was calculated. If the Client fails to serve a notice in accordance with this clause then, subject to the Client serving a Pay Less Notice, the amount to be paid by the Client shall be the amount stated in the Consultant’s invoice for the instalment. 5.4 The final date for payment (the “Final Date for Payment”) for an instalment of the Fee shall be 30 days from the Due Date for Payment for the instalment. 5.5 If the Client intends to pay less than the sum stated as due from it in its notice under clause 5.3 or the Consultant’s invoice under clause 5.2, as the case may be, it shall not later than five days before the Final Date for Payment give the Consultant notice of that intention (a “Pay Less Notice”) stating the amount that it considers due to the Consultant at the date the Pay Less Notice is given and the basis on which that sum has been calculated.

THE FEE AND TERMS OF PAYMENT. 5.1 The Client agrees to pay to the Consultant as full remuneration for the Services the fee set out in Schedule 2. 5.2 Subject to clause 1211, the Fee shall be invoiced and paid in instalments in accordance with Schedule 2. In relation to each instalment of the Fee, the Consultant will issue an invoice to the Client with copies submitted to the Project ManagerClient. The due date for each payment (the “Due Date for Payment”) for an instalment of the Fee is the later of the date specified in Schedule 2 as the due date for invoice of the instalment and the date on which the Client receives an invoice for the instalment, submitted in accordance with this Agreement, for the instalment for the instalment. 5.3 Within five days of the Due Date for Payment of an instalment, the Client shall serve a notice on the Consultant specifying the amount which the Client considers to be properly due and the basis on which that amount was calculated. If the Client fails to serve a notice in accordance with this clause then, subject to the Client serving a Pay Less Notice, the amount to be paid by the Client shall be the amount stated in the Consultant’s invoice for the instalment. 5.4 The final date for payment (the “Final Date for Payment”) for an instalment of the Fee shall be 30 days from the Due Date for Payment for the instalment. 5.5 If the Client client intends to pay less than the sum stated as due from it in its notice under clause 5.3 or the Consultant’s invoice under clause 5.2, as the case may be, it shall not later than five days before the Final Date for Payment give the Consultant notice of that intention (a “Pay Less less Notice”) stating the amount that it considers due to the Consultant at the date the Pay Less Notice is given and the basis on which that sum has been calculated.