Business Payment Agreement
This Payment Agreement ("Agreement") is made and entered into as of the 1st day of March 2050, by and between:
[Your Company Name]
Address: [Your Company Address]
Contact Information: [Your Company Number] / [Your Company Email]
("Seller")
AND
Beta Enterprises Ltd.
Address: 789 Greenway Avenue, Eco City, EC 12345
Contact Information: (555) 876-5432 / finance@betaenterprises.com
("Buyer")
RECITALS
WHEREAS, the Seller agrees to provide consulting services related to sustainable energy systems to the Buyer under the terms of this Agreement;
WHEREAS, the Buyer agrees to pay the Seller for the consulting services provided under this Agreement.
NOW, THEREFORE, for and in consideration of the mutual promises and covenants set forth herein, the parties agree as follows:
1. Payment Terms
The Buyer agrees to pay the Seller a total of $75,000 for the consulting services provided under this Agreement. Payment shall be made according to the following terms:
Payment Due Date: The total amount is due on July 1, 2050.
Payment Method: Payments shall be made via bank transfer to the Seller’s designated account [Account Details].
Late Payment Penalties: If payment is not received by the due date, a late fee of 1.5% per month will apply, and the Buyer agrees to pay the outstanding amount plus any accrued penalties.
Installment Payment: The Buyer agrees to make payments in 3 equal installments of $25,000 each, with the first installment due on April 1, 2050, the second installment due on May 1, 2050, and the third installment due on June 1, 2050.
2. Delivery of Services
The Seller agrees to deliver the consulting services to the Buyer by the following schedule:
Initial consultation and project outline by March 15, 2050.
Detailed analysis and recommendations by April 30, 2050.
Final report and presentation to Buyer by June 15, 2050.
Delivery of these services will be completed electronically via email and file transfer.
3. Governing Law
This Agreement shall be governed by and construed by the laws of the state of California, without regard to its conflict of laws principles.
4. Dispute Resolution
Any disputes or disagreements arising out of or in connection with this Agreement shall be resolved through mediation in Los Angeles, California, and if the matter is not resolved by mediation, the parties agree to submit the matter to binding arbitration.
5. Modifications
Any modifications or amendments to this Agreement must be made in writing and signed by both parties.
6. Termination
Either party may terminate this Agreement upon 30 days written notice if the other party breaches any material term of this Agreement. In case of termination, the Buyer agrees to pay any outstanding balance due for services provided up until the date of termination.
7. Entire Agreement
This Agreement constitutes the entire agreement between the parties and supersedes all prior agreements or understandings, whether written or oral, relating to the subject matter hereof.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above.
Seller:
Name: [Your Name]
Title: CEO, [Your Company Name]
Date: March 1, 2050
Buyer:
Name: Emily Parker
Title: CFO
Date: March 1, 2050
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