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A recurring invoice is one generated on a cyclical basis during the lifetime of a rental contract. For example, if you rent an excavator from 1 January to 15 April, on a calendar monthly arrears billing cycle, you would expect to receive an invoice at the end of January, another at the end of February, another at the end of March and a final ...
Section 2-106 describes the difference between a present sale (recorded as a sales order) and a sale (recorded as a transfer of title to the buyer). (1) In this Article unless the context otherwise requires "contract" and "agreement" are limited to those relating to the present or future sale of goods. "Contract for sale" includes both a ...
whether terms are implied into the contract; what controls are placed on unfair terms; The terms of a contract are the essence of a contract, and tell the reader what the contract will do. For instance, the price of a good, the time of its promised delivery and the description of the good will all be terms of the contract.
Although a typical purchase order may not be worded as a contract (in fact most contain little more than a list of the goods or services the buyer desires to purchase, along with price, payment terms, and shipping instructions), the purchase order is a specially regarded instrument regulated by the Uniform Commercial Code or other similar law which establishes a purchase order as a contract by ...
Contractors may use a single job work order and invoice form that contains the customer information, describes the work performed, lists charges for material and labor, and can be given to the customer as an invoice. [8] A job order is an internal document extensively used by projects-based, manufacturing, building and fabrication businesses.
The difference between the face value of the invoice and the advance rates serves to protect factors against any losses and to ensure coverage for their fees. Once the invoice is paid, the factor gives the difference between the face value, advance amount and fees back to the business in the form of a factoring rebate. [19]
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