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Former Member
May 13, 2010 at 11:32 AM

Creation of New Terms of Payment

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Hi,

I am facing a daunting task of creating a Term of Payment for vendor with the below conditions. The details are as below:

1) 10% of the contract price as interest free mobilization advance

2) 85% against Monthly Running Account (RA) Bills within 21 Days

3) 5% retention Money after completion of work

4) Final Payment shall be released within 30 days.

Please suggest.