This section should outline the invoicing frequency and process, specifying requirements like purchase orders, progress reports, receipts for expenses, or timesheets. It should also define the client’s payment terms upon receiving invoices, as well as late fees, if applicable.
In this section, you should specify the total project cost and payment schedule, including upfront deposits, progress payments tied to milestones, and the final payment upon project acceptance.
Description of first item | $35.00 | | $175.00 |
Description of second item | $55.00 | | $55.00 |
Description of third item | $200.00 | | $200.00 |
The client shall render payment to the contractor in accordance with the specified payment schedule set forth herein. Payments shall be remitted to the contractor through the (Accepted Payment Methods) as detailed in this contract.
The contractor shall furnish invoices to the client for all services rendered and work performed in strict adherence to the agreed-upon payment schedule (Insert Agreed Upon Schedule). These invoices shall provide an explicit breakdown of the services rendered, relevant payment milestones, and the total amount payable, encompassing any applicable taxes.
Should the client neglect to make timely payments, they shall incur a late fee, (Insert Late Fee Amount or Percentage). Furthermore, the contractor may impose fines in addition to the late fees, with specific fine amounts and criteria detailed herein. These late fees and fines shall accrue (insert Applicable Time Period) until the complete outstanding payment, inclusive of late fees and fines, is fully settled.
