Contract Payment Terms Overview

Summary

Payment terms in contracts often include instalment schedules, conditions for transfer of control, and potential withholding of payments if obligations arent met. In this case, the buyer pays £3,000 in two instalments, with control transferred after the first payment. The buyer can withhold the second instalment if the seller fails to deliver necessary credentials within seven days. Payment is made via bank transfer.

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Here are the payment terms
I can't view attachments, but I can give you some general information on typical payment terms in contracts. They often include:
- Payment schedule (e.g., upfront, monthly installments)
- Payment method (e.g., bank transfer, credit card)
- Due dates
- Late payment penalties
Feel free to describe the payment terms, and I'll help you further!
*. PURCHASE PRICE & PAYMENT TERMS *.* The Buyer shall pay the Sellers a total consideration of Three Thousand Pounds Sterling (£*,*). *.* The consideration shall be paid in two equal instalments: • £*,* upon execution of this Agreement • £*,* forty-five (*) calendar days thereafter *.* Transfer of access and operational control of all Assets shall occur following receipt of the first instalment. *.* The Buyer reserves the right to withhold the second instalment should the Sellers fail to deliver all required logins, content and access credentials within seven (*) calendar days of the initial payment. *.* Seller bank details for payment: • Name: Khawer Carr • Sort Code: *-*-* • Account Number: *
Thanks for sharing the payment terms. Here are some general points to consider based on what you've described:
- Instalments: Payment is in two instalments, £*,* upfront and £*,* after 45 days.
- Conditions: Transfer of control occurs after the first instalment.
- Withholding Payment: Buyer can withhold the second instalment if credentials aren't delivered within 7 days.
- Payment Method: Bank transfer details are provided for payment.
Is there any specific aspect you need help with or any concerns regarding these terms?