Finance Payment Resolution
I. Introduction
This Finance Payment Resolution (the "Resolution"), created on [April 17, 2050], by and between:
A. Payee: [Your Company Name]
Address: [Your Company Address]
Representative: [Your Representative's Name and Title]
and
B. Payer: [Counterparty's Legal Name]
Address: [Counterparty's Address]
Representative: [Counterparty's Representative's Name and Title]
Collectively referred to as the "Parties."
WHEREAS, the Payee and Payer entered into a [Sales Agreement] dated [January 15, 2050], outlining the terms of a financial transaction, wherein Payee agreed to supply [1000 widgets] to Payer;
WHEREAS, the discrepancies and issues have arisen in the payment process under the aforementioned agreement, specifically related to the payment for the delivered [1000 widgets] on [March 1, 2050];
WHEREAS, Both parties are committed to resolving these payment issues amicably and in accordance with the terms of the agreement.
NOW THEREFORE, in consideration of the mutual covenants contained herein and for other good and valuable consideration, the Parties hereby agree as follows:
II. Payment Issue
A. Background
Payee supplied [1000 widgets] to Payer, and the total agreed-upon price was [$100,000]. Payment for the delivered [1000 widgets] was due within [30 days] of the delivery, as stipulated in the agreement.
B. Identification
The Parties acknowledge and agree that there is a discrepancy in the payment for the delivered [1000 widgets] on [March 1, 2050], impacting the total payment amount.
C. Investigation
Both parties will conduct a joint investigation to determine the reasons behind the payment discrepancy and its impact on the overall payment.
III. Resolution Plan
A. Collaborative Plan
The Parties collaboratively develop a resolution plan, which includes addressing the outstanding payment for the delivered [1000 widgets] and ensuring the accurate calculation of the total payment.
B. Financial Adjustments
To account for the payment discrepancy, Payee and Payer agree to adjust the total payment amount by [$10,000].
C. Payment Schedule
The adjusted payment will be made in two installments, with the first installment due on [May 1, 2050], covering the outstanding payment for the delivered [1000 widgets], and the final installment due on [May 15, 2050].
IV. Compliance and Legal Considerations
A. Adherence to Agreement
The Parties reaffirm their commitment to adhere to the terms and conditions outlined in the original agreement dated [January 15, 2050].
B. Legal Compliance
All actions taken under this Resolution shall be in compliance with the laws and regulations governing commercial transactions in the relevant jurisdiction.
V. Signatures
This resolution is executed by the undersigned representatives of Payee and Payer on the date first above written.
________________________________________
[Your Representative Name]
[Title]
__________________________________________
[Counterparty's Representative Name]
[Title]
