Simple Service Payment Agreement
This Service Payment Agreement ("Agreement") is entered into on this 15th day of January, 2050, by and between:
Service Provider:
Name: [Your Company Name]
Address: [Your Company Address]
Phone: [Your Company Number]
Email: [Your Company Email]
Client:
Name: Global Enterprises Inc.
Address: 456 Commerce Blvd, Business Park, USA
Phone: (555) 987-6543
Email: finance@globalenterprises.com
1. Scope of Services
The Service Provider agrees to provide the following services to the Client:
Create a custom cloud inventory system for Global Enterprises Inc.
Provide training to the Client’s staff for software usage.
Offer technical support for 3 months post-deployment.
2. Payment Terms
a. Total Payment: The Client agrees to pay the Service Provider a total of $50,000 for the services outlined above.
b. Payment Schedule:
Initial payment of $10,000 due upon signing this Agreement (January 15, 2050).
A progress payment of $20,000 is due upon delivery of the first software prototype on March 1, 2050.
The remaining balance of $20,000 is due upon completion of the services and successful deployment of the system on June 1, 2050.
c. Method of Payment: Payment will be made via wire transfer to the Service Provider’s designated bank account.
d. Late Payments: Any late payments will incur a late fee of $500 per week after the due date.
3. Term
This Agreement will commence on January 15, 2050, and will continue until the services are completed or until terminated by either party, as outlined in this Agreement. The expected completion date is June 1, 2050.
4. Confidentiality
Both parties agree to maintain the confidentiality of any sensitive or proprietary information obtained during this Agreement. Neither party shall disclose such information to any third party without written consent, except where required by law.
5. Termination
(a) Either party may terminate this Agreement by providing 30 days written notice to the other party.
(b) In the event of termination, the Client agrees to pay for all services rendered up until the termination date, based on the payment schedule outlined in Section 2.
6. Governing Law
This Agreement shall be governed by and construed by the laws of the state of California, USA.
7. Miscellaneous
(a) Any amendments or modifications to this Agreement must be in writing and signed by both parties.
(b) This Agreement constitutes the entire understanding between the parties and supersedes any prior discussions, representations, or agreements between the parties.
IN WITNESS WHEREOF, the parties hereto have executed this Service Payment Agreement as of the day and year first above written.
Service Provider:
Name: [Your Name]
Title: CEO, [Your Company Name]
Date: January 15, 2050
Client:
Name: Alice Johnson
Title: CFO, Global Enterprises Inc.
Date: January 15, 2050
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