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The Contract Agreement Payment Terms serves as a crucial legal instrument for businesses operating under Austrian jurisdiction, establishing clear and enforceable payment obligations between contracting parties. This document is essential when parties need to formalize their payment arrangements, whether in ongoing business relationships or specific transactions. It includes comprehensive terms covering payment schedules, methods, late payment consequences, and dispute resolution mechanisms, all aligned with Austrian legal requirements and EU directives. The agreement is particularly relevant in today's business environment where payment terms compliance and cash flow management are critical. It's designed to protect both parties' interests while ensuring adherence to Austrian commercial law, including the ABGB and UGB, as well as relevant EU regulations such as the Late Payment Directive.

1. Parties: Identification and details of the contracting parties, including full legal names, registration numbers, and addresses

2. Background: Context of the agreement, relationship between parties, and purpose of the payment terms agreement

3. Definitions: Clear definitions of key terms used throughout the agreement, including payment-related terminology

4. Payment Terms: Core payment obligations, including amounts, currencies, and payment schedules

5. Payment Methods: Acceptable methods of payment and detailed payment processing procedures

6. Due Dates and Deadlines: Specific timing for payments, including payment cycles and cut-off times

7. Interest and Late Payment Charges: Terms for interest on late payments as per Austrian law and EU Late Payment Directive

8. Invoicing Requirements: Specifications for invoice format, content, and submission procedures

9. Default and Remedies: Consequences of payment default and available remedies for both parties

10. Term and Termination: Duration of the agreement and conditions for termination

11. Governing Law and Jurisdiction: Confirmation of Austrian law application and jurisdiction for disputes

12. General Provisions: Standard clauses including notices, amendments, and entire agreement provisions