Terms and Conditions for Payment - Shiv Construction & Company

1. Payment Schedule:

client agrees to adhere to the payment schedule outlined in the contract, which may include specific milestones, percentages, or project completion phases.

2. Invoicing:

Invoices will be issued by [Company Name] Construction & Company and should be paid in full by the client on or before the due date specified in each invoice.

3. Late Payments:

A late fee of [insert percentage] will be applied to any payments not received within [insert number of days] days of the due date. Late fees are cumulative for each successive late payment.

4. Payment Methods:

Accepted payment methods include:

Check: Payable to [Company Name] Construction & Company. Wire Transfer: Banking details will be provided on invoices. Credit Card: [Specify any applicable terms or fees.]

5. Retainage:

A retainage of [insert percentage] may be withheld from each payment until the completion of the project. The retainage will be released upon satisfactory completion and acceptance of the work.

6. Change

Additional work or changes to the original scope will be invoiced separately. No additional work will commence without the client's written approval.

7. Dispute Resolution:

Any disputes related to payments shall be resolved through negotiation between the parties. If a resolution cannot be reached, the matter may be subject to mediation or arbitration.

8. Taxes:

Prices quoted are exclusive of taxes. The client is responsible for any applicable sales, use, or other taxes imposed by local authorities.

9. Termination and Default:

The company reserves the right to terminate the contract for non-payment or other material breaches. In the event of termination, the client shall be liable for any outstanding payments and additional costs incurred.

10. Force Majeure:

- Neither party shall be held liable for any delay or failure to perform its obligations due to circumstances beyond their reasonable control, including but not limited to acts of nature, war, or government regulations.