Question 1 of 2 Question 2 of 2
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?
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.
