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Template:GTMA Master Agreement 2004 8.2: Difference between revisions
Template:GTMA Master Agreement 2004 8.2 (view source)
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{{gtmaprov|8.2}} '''{{gtmaprov|Payment Mechanics}}'''<br> | {{gtmaprov|8.2}} '''{{gtmaprov|Payment Mechanics}}'''<br> | ||
:{{gtmaprov|8.2.1}} On the 10th {{gtmaprov|Banking Day}} of the {{gtmaprov|Month}} in which the {{gtmaprov|Monthly Statement}} is received by the {{gtmaprov|Buyer}} or the 5th {{gtmaprov|Banking Day}} after receipt, whichever is the later (the | :{{gtmaprov|8.2.1}} On the 10th {{gtmaprov|Banking Day}} of the {{gtmaprov|Month}} in which the {{gtmaprov|Monthly Statement}} is received by the {{gtmaprov|Buyer}} or the 5th {{gtmaprov|Banking Day}} after receipt, whichever is the later (the “{{gtmaprov|Due Date}}"), the {{gtmaprov|Buyer}} or the {{gtmaprov|Seller}}, as the case may be, shall pay to the other {{gtmaprov|Party}} to whom it is due the net amount payable in accordance with the {{gtmaprov|Monthly Statement}}.<br> | ||
:{{gtmaprov|8.2.2}} Payment shall be made by the {{gtmaprov|Due Date}} in sterling (subject to clause 20) by direct bank transfer or equivalent transfer of immediately available funds to the Party to whom payment is due and to the credit of the account specified by that {{gtmaprov|Party}}.<br> | :{{gtmaprov|8.2.2}} Payment shall be made by the {{gtmaprov|Due Date}} in sterling (subject to clause 20) by direct bank transfer or equivalent transfer of immediately available funds to the Party to whom payment is due and to the credit of the account specified by that {{gtmaprov|Party}}.<br> | ||
:{{gtmaprov|8.2.3}} An amount equal to {{gtmaprov|VAT}} payable to a {{gtmaprov|Party}} shall not be required to be paid before the other {{gtmaprov|Party}} provides it with an appropriate {{gtmaprov|VAT}} invoice in relation to that amount. Each {{gtmaprov|Party}} shall provide the other with any additional appropriate {{gtmaprov|VAT}} invoices as required for the purposes of this {{gtmaprov|Agreement}}.<br> | :{{gtmaprov|8.2.3}} An amount equal to {{gtmaprov|VAT}} payable to a {{gtmaprov|Party}} shall not be required to be paid before the other {{gtmaprov|Party}} provides it with an appropriate {{gtmaprov|VAT}} invoice in relation to that amount. Each {{gtmaprov|Party}} shall provide the other with any additional appropriate {{gtmaprov|VAT}} invoices as required for the purposes of this {{gtmaprov|Agreement}}.<br> | ||