Cart%20-%20The%20Payment%20Terms%20document%20is%20an%20attachment%20to%20the%20contract.%20This%20is%20what%20the%20client%20is%20agreeing%20to%20pay%20for%20the%20project.%20The%20interview%20materials%20and%20estimate%20spreadsheets%20in%20previous%20sections%20are%20used%20to%20determine%20the%20cost.%20The%20Payment%20Terms%20are%20broken%20into%203%20different%20payment%20plans%20to%20choose%20from.%20Pick%20which%20one%20works%20best%20for%20you%20and%20your%20client%20(full%20payment%20up%20front%2C%20half%20down%2C%201%2F3%20down%2C%20etc.%20).%20Hundreds%20of%20specialty%20contracts%20available%20from%20ProposalKit.com. "Pin to Pinterest")
How to write your Exhibit A (Payment Terms)
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Writing the Exhibit A (Payment Terms) document
Select an appropriate payment terms from the list of possible choices depending on the agreement being used with and delete the rest. For example, if using a project development contract use one of the first three milestone based payment terms. If using a VAR/Reseller contract or for general pricing use the payment terms pricing plan at the end of the list of plans below.
EXHIBIT A
PAYMENT TERMS
Customer agrees to pay Developers a fee of Total Payment Amount, according to the following terms:
90% of the estimated price upon execution of the Agreement.
Customer agrees to the pay for all out-of-pocket expenses incurred by Developers in developing the project including, but without limitation, any:
License fees
Outsource services billed for Customer.
Film and Developing
Shipping
Domain name registration
Host costs (for ISP).
G: Hardware and software
H: Travel
Customer agrees to pay for the Developer's fee and all expenses, as set forth above, within 15 days of invoice. All unpaid balances shall accrue interest at 1 1/2% per month. Customer agrees that any changes customer makes to the specification may adversely affect the original estimate.
Extra time incurred above and beyond the original specification will be billed at an hourly rate of Hourly Rate and is not subject to the costs, estimates and caps in 1. above. Customer agrees that estimated yearly maintenance costs are only estimates and are not included in the quoted price.
EXHIBIT A
PAYMENT TERMS
Customer agrees to pay Developers a fee of Insert Total Payment Amount, according to the following terms:
1/3 of the fee upon execution of the Agreement;. 1/3 of the fee upon completion of Insert Key Payment Milestone. The remaining 1/3 upon completion per the specification.
Customer agrees to the pay for all out-of-pocket expenses incurred by Developers in developing the project including, but without limitation, any:
License fees
Outsource services billed for Customer
Film and Developing
Shipping
Domain name registration
Host costs (for ISP)
G: Hardware and software
H: Travel
Customer agrees to pay for the Developers' fee and all expenses, as set forth above, within 15 days of invoice. All unpaid balances shall accrue interest at 1 1/2% per month. Customer agrees that any changes customer makes to the specification may adversely affect the original estimate.
Extra time incurred above and beyond the original specification will be billed at an hourly rate of Hourly Rate and is not subject to the costs, estimates and caps in 1. above. Customer agrees that estimated yearly maintenance costs are only estimates and are not included in the quoted price.
EXHIBIT A
PAYMENT TERMS
Customer agrees to pay Developers an hourly fee, according to the following terms:
10% of the estimate upon execution of the Agreement of Total Payment Amount. Customer is billed at Hourly Rate per hour at the completion of each milestone. The customer will not be liable for more than Insert Maximum Amount Liable for in hourly work.
Customer agrees to the pay for all out-of-pocket expenses incurred by Developers in developing the project including, but without limitation, any:
License fees
Outsource services billed for Customer
Film and Developing
Shipping
Domain name registration
Host costs (for ISP)
G: Hardware and software
H: Travel
Customer agrees to pay for the Developers' fee and all expenses, as set forth above, within 15 days of invoice. All unpaid balances shall accrue interest at 1 1/2% per month. Customer agrees that any changes customer makes to the specification may adversely affect the original estimate. Extra time incurred above and beyond the original specification will be billed at an hourly rate of Hourly Rate and is not subject to the costs, estimates and caps in 1. above.
Customer agrees that estimated yearly maintenance costs are only estimates and are not included in the quoted price.
EXHIBIT A
CREDIT CARD PAYMENT PLAN
Authorization for credit card payments for development per Exhibit A and B. Charges to be applied as Customer accepts each milestone. Customer accepts liability for all costs incurred (including but not limited to chargebacks and reversals).
Card Number
Expiration Date
Name on Card
Phone: Phone Number
Fax: Fax Number
Email: Email Address
Company: Company Name
Street: Address Address
City: City
Country: Country
EXHIBIT A
PAYMENT TERMS
Pricing Plan:
15% Off Discount
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4.7 stars, based on 844 reviewsRelated Documents
- To be used along with the various US project and service contracts
Key Takeaways
- The Exhibit A (Payment Terms) is available as a ready-to-edit template.
- The Contract Packs and Professional Bundle include many related agreements and documents.
- You can automate financials and data merging into contracts using a Contract Pack or Professional Bundle.
- You can also create business proposals and integrate your contracts using the Professional Bundle.
- There are no ongoing subscription fees. You get lifetime unlimited use.
How to Build a Legal Contract with Proposal Kit
This video illustrates how to create a legal contract using the Proposal Pack Wizard software. It also shows how to create a proposal with an invoice and contract at the same time.
Frequently Asked Questions
How do I customize this contract to fit my business needs?
Customizing this contract involves editing the document to include your business details, terms, and conditions. The templates are designed to be flexible, allowing you to insert your company's name, address, and other relevant information. You can modify clauses to reflect your unique business practices and legal requirements.
Is this contract compliant with laws and regulations?
The legal contract templates are written by legal professionals and designed to comply with current laws and regulations at the time of their writing. However, laws can vary by jurisdiction and change over time, so it's recommended to have your contract reviewed by a local attorney to ensure it meets all legal requirements specific to your region and industry. Templates are licensed as self-help information and not as legal advice.
Can I use the same contract for different clients or projects?
You can use the same contract for different clients or projects. The templates are versatile and easily adapted for various scenarios. You will need to update specific details such as client names, project descriptions, and any unique terms for each new agreement to ensure that each contract accurately reflects the particulars of the individual client or project.
What should I do if I encounter a clause or term I don't understand?
If you encounter a clause or term in the contract that you need help understanding, you can refer to guidance notes explaining each section's purpose and use. For more complex or unclear terms, it's advisable to consult with a legal professional who can explain the clause and help you determine if any modifications are necessary to suit your specific needs.
How do I ensure that the contract is legally binding and enforceable?
To ensure that the contract is legally binding and enforceable, follow these steps:
- Complete all relevant sections: Make sure all blanks are filled in with accurate information.
- Include all necessary terms and conditions: Ensure that all essential elements, such as payment terms, deliverables, timelines, and responsibilities, are clearly defined.
- Signatures: Both parties must sign the contract, and it is often recommended that the contract be witnessed or notarized, depending on the legal requirements in your jurisdiction.
- Consult a legal professional: Before finalizing the contract, have it reviewed by an attorney to ensure it complies with applicable laws and protects your interests.
Ian Lauder has been helping businesses write their proposals and contracts for two decades. Ian is the owner and founder of Proposal Kit, one of the original sources of business proposal and contract software products started in 1997.By Ian Lauder
Published by Proposal Kit, Inc.Disclaimers
Proposal Kit, Inc. makes no warranty and accepts no responsibility for the suitability of any materials to the licensee's business. Proposal Kit, Inc. assumes no responsibility or liability for errors or inaccuracies. Licensee accepts all responsibility for the results obtained. The information included is not legal advice. Names in use cases have been fictionalized. Your use of the contract template and any purchased packages constitutes acceptance and understanding of these disclaimers and terms and conditions.
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