This addendum sets the payment terms for the engagement described below. It attaches to an existing agreement between the parties and, for payment matters, controls over any conflicting language in that agreement. All other terms of the agreement stay unchanged.

1. Parties and underlying agreement

This payment terms addendum (the "Addendum") is between Client company name (the "Client") and Contractor full name (the "Contractor"). It supplements the agreement titled Underlying agreement title, dated Underlying agreement date (the "Agreement"), and takes effect on Addendum effective date.

2. Invoicing

1. The Contractor will invoice the Client Invoicing cadence. Each invoice states the services performed, the period covered, the amounts due, any taxes or withholdings shown separately, and the payment details.
2. The Client will review each invoice promptly and tell the Contractor about any billing error in writing as soon as it is found, so it can be corrected without delaying the undisputed balance.

3. Payment period

1. The Client will pay each correct invoice within Payment period of receiving it (the "Payment period").
2. Payments are made in full, without set-off or deduction, except for amounts disputed under section 5 or withholdings required by law under section 7.
3. An invoice is considered paid when the funds are available in the Contractor's nominated account.

4. Late payment

1. Undisputed amounts that remain unpaid after the Payment period accrue interest at Late interest rate, or at the highest rate allowed by law if that is lower, from the due date until payment.
2. If any undisputed amount remains unpaid for more than Suspension threshold after the due date, the Contractor may suspend work after giving written notice, and the timeline for any affected deliverables extends by the length of the suspension.
3. Suspension under this section is not a breach of the Agreement by the Contractor.

5. Disputed amounts

1. To dispute an invoice or part of one, the Client must notify the Contractor in writing within Dispute notice window of receiving the invoice, identifying the disputed items and the reason for the dispute.
2. The Client pays the undisputed portion on the normal schedule. The parties then work in good faith to resolve the dispute promptly.
3. Amounts found to be payable after resolution are due within the Payment period, counted from the date of resolution, and accrue late interest only from that new due date.
4. Amounts not disputed within the notice window are considered accepted.

6. Currency, method, and fees

1. Invoices are issued and paid in Invoice currency, using Payment method, to the account details stated on each invoice.
2. Transfer, intermediary, and currency-conversion fees are borne as follows: Transfer fee allocation. The Contractor must receive the full invoiced amount unless this field says otherwise.
3. The Contractor will give reasonable notice of any change to their payment details, and the Client may verify the change through a known channel before paying.

7. Taxes and withholding

1. Each party is responsible for its own taxes arising from the Agreement.
2. If the Client is required by law to withhold any amount from a payment, the Client will show the withholding on its remittance advice and give the Contractor the official certificate or receipt for it within a reasonable time.

8. Order of precedence

If this Addendum conflicts with the Agreement on invoicing, payment timing, late payment, disputes, currency, or fees, this Addendum controls. Everything else in the Agreement remains in force unchanged.

Signatures

Contractor: ✍ Contractor signature Date: Contractor signature date

For the Client: ✍ Client signature Date: Client signature date