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Payment Terms Contract
"I need a Payment Terms Contract for my software company based in Singapore, establishing monthly subscription payments with a 30-day payment term and late payment penalties for enterprise customers, to be effective from January 2025."
1. Parties: Identification of contracting parties and their details
2. Background: Context and purpose of the payment terms agreement
3. Definitions: Key terms used throughout the agreement including payment-related terminology
4. Payment Terms: Core payment obligations, amounts, and timeframes
5. Payment Methods: Accepted methods of payment and processing details
6. Default and Remedies: Consequences of payment default and available remedies
7. Governing Law: Specification of Singapore law as governing law and jurisdiction
1. Interest and Late Payments: Terms for interest charges and late payment penalties, applicable when credit terms are offered
2. Security: Requirements for payment security or guarantees, used for high-value contracts or new customers
3. Force Majeure: Provisions for unforeseen circumstances affecting payment, relevant for long-term payment arrangements
4. Data Protection: Handling of payment and personal data, required when processing sensitive payment information
1. Payment Schedule: Detailed breakdown of payment amounts and due dates
2. Bank Details Schedule: Banking information and payment processing details
3. Interest Rate Schedule: Detailed breakdown of applicable interest rates and calculation methods
4. Security Documents: Forms and templates for payment guarantees or security agreements
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³Ò±ð²Ô¾±±ð’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
Our bank-grade security infrastructure undergoes regular external audits
We are ISO27001 certified, so your data is secure
Organizational security
You retain IP ownership of your documents
You have full control over your data and who gets to see it
Innovation in privacy:
Genie partnered with the Computational Privacy Department at Imperial College London
Together, we ran a £1 million research project on privacy and anonymity in legal contracts
Want to know more?
Visit our for more details and real-time security updates.
Read our Privacy Policy.