Invoice Credit definition
Examples of Invoice Credit in a sentence
Each future Invoice Credit stemming from Metrics 2 and 3 will remain available to the Requesting Entity for up to a year after the contract term ends and applied to the subsequent future orders until the Invoice Credit has been fully depleted.
If the Contractor fails to meet the service level target, the Contractor will provide fifty dollars ($50.00) in Invoice Credit on the affected order’s invoice per calendar day late beyond the approved delivery/pick up date.
If the Contractor fails to meet the performance target for three (3) consecutive months, the Contractor will be required to provide a future two percent (2%) Invoice Credit based on the value of the affected orders over that three month period.
The Contractor will also be subject to the Order Fill Rate metric’s Invoice Credit calculation as detailed in Exhibit B – Performance Metrics and Corrective Actions.
If the Contractor is unable to fill the order and if then the Contractor and the Requesting Entity cannot come to an agreement on a replacement vehicle/option/accessory that is acceptable to the Requesting Entity in a reasonable time period, then the Contractor must provide the Requesting Entity with a future Invoice Credit in an amount equal to three percent (3%) of the total value of the cancelled order.
If for any late order, the commodity is still not delivered after grace period ends, the Invoice Credit calculation will be triggered and will include the days of the grace period.
If for any late order, the vehicle is still not delivered/ready for pick up after grace period ends, the Invoice Credit calculation will be triggered and will include the days of the grace period.
If the written documentation is sent later than 1 business day, the Contractor will provide fifty dollars ($50.00) in Invoice Credit on the affected order’s invoice per calendar day until it was received.
Products described in Sections 9(b) and 9(c) may be returned for a Refund or Invoice Credit.
Promotions: The Customer is eligible for the following promotions as set forth in the Guide: Regional Checkbook 2004 – 3 Year (Credit Option) Conferencing Super Saver Promotion New Customer Incentive Promotion (10% Invoice Credit) Initial Term: 36 months Upon completion of the Initial Term, the Agreement will be automatically extended on a month-to-month basis until the 13th Amendment Effective Date.