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1 Fee (Services/Deliverables)
FEE (Services/Deliverables) (Party-1 Sells) - What are the fees?
Flat fee.In consideration for Party-1 performing all obligations under this Agreement, Party-2 agrees to pay Party-1 a flat fee of:
Rate fee.
Hourly Rate.In consideration for Party-1 performing all obligations under this Agreement, Party-2 agrees to pay Party-1 the product of the total number of hours performed by Party-1 multiplied by the following hourly rate(s):
What is the hourly rate for each member of Party-1's personnel?
Daily Rate.
What is the daily rate for each member of Party-1's personnel?
Guaranteed maximum fee equal to the lesser of a flat fee, or either an hourly rate fee or daily rate fee.
Guaranteed maximum flat fee.In consideration for Party-1 performing all obligations under this Agreement, Party-2 agrees to pay Party-1 the lesser of: (a) a fee of
What is the maximum flat fee?
Hourly rate fee or daily rate fee?
Hourly rate.or (b) the product of the total number of hours performed by Party-1 multiplied by the following hourly rate:
What is the hourly rate for each member of Party-1's personnel?
Daily rate.or (b) the product of the total number of full eight (8) hour days performed by Party-1 multiplied by the following daily rate:
What is the daily rate for each member of Party-1's personnel?
Per Service/Deliverable fee.In consideration for Party-1 providing each of the following, Party-2 agrees to pay Party-1 as follows:
Please list each Service/Deliverable and fee.
Per milestone fee.In consideration for Party-1 achieving each of the following milestones, Party-2 agrees to pay Party-1 as follows:
Please list each milestone and fee.
Other arrangements.In consideration for Party-1's performance under this Agreement, Party-2 agrees to pay Party-1 as follows:
2 Fee (Payment Schedule)
FEE - PAYMENT SCHEDULE (Party-1 Sells) - What is the payment schedule?
3 Fee (Affiliates, Most Favored Customer Status, Assumptions and Fee Increases)
FEE - CONDITIONS (Party-1 Sells) - Do any assumptions, affiliate pricing, or most favored customer status conditions apply to the fee?
4 Fee (Early Payment Discount)
FEE - EARLY PAYMENT DISCOUNT (Party-1 Sells) - Does Party-1 receive an early payment discount for early payments?
10 days, 2% discount.If Party-2 pays within ten (10) days of the date of Party-2's receipt of an invoice, then Party-1 will deduct from the next invoice a credit equal to two percent (2%) of the invoiced amount.
15 days, 2% discount.If Party-2 pays within fifteen (15) days of the date of Party-2's receipt of an invoice, then Party-1 will deduct from the next invoice a credit equal to two percent (2%) of the invoiced amount.
I will specify the days and discount.
If Party-1 pays within
To earn the discount, customer must pay the fee within how many days?
days of the date of Party-1's receipt of an invoice, then Party-2 will deduct from the next invoice a credit equal to the following percentage of the invoiced amount:
What is the discount percentage?
No discount for early payment.
5 Expenses (Party-2 Reimburses)
EXPENSES (Party-2 Reimburses) - Will Party-2 reimburse Party-1's expenses?
A fee in this context can take many forms, including a flat fee, the total of the hours/days incurred times the hourly/daily rates, a guaranteed maximum fee, a per Service/Deliverable fee, a per milestone fee, or other arrangement.
"Payment Schedule" means when the vendor will bill the customer. The customer may prefer not to be billed until after acceptance, which is a legal concept that gives the customer a short testing period after receiving goods or services to determine whether or not they are satisfactory. The vendor instead prefers to invoice the customer upon receipt of goods or services, so that the vendor can recognize its revenue sooner.
"Affiliates" means a party's parent, subsidiary, or related business associations that, in future purchases, could receive the same pricing under this contract, and "Most Favored Customer Status" means that a customer is receiving a deal from a vendor which is just as good or better than any other deal the vendor has with any other customer, and "Assumptions" means requirements a customer must meet or the vendor will have to perform extra work and as a result will need to increase the fees.
A vendor may offer a discount off the invoice if the invoice is paid early so the vendor has its money sooner.
Expenses incurred by a vendor are sometimes reimbursed by a customer, and this cost is over and above the fees under the Agreement.
