Definition, Meaning & Synonyms
contract-payment
Noun
/ˈkɒntrækt ˈpeɪmənt/
Definition
A contract-payment refers to the financial terms agreed upon within a contract, stipulating how payments will be made for services rendered or products delivered.
Examples
- The contractor requested a contract-payment of 50% upfront before starting the work.
- Our agreement detailed the contract-payment schedule to ensure clarity for both parties.
- Failure to adhere to the contract-payment terms can lead to legal disputes.
Meaning
Contract-payment is a crucial part of any contract as it outlines the payment obligations between parties involved.
Synonyms
- Payment agreement
- Payment terms
- Financial contract
