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1. Parties: Identification and details of all parties involved in the payment schedule agreement
2. Background: Context of the agreement, including reference to any master agreement or underlying transaction
3. Definitions: Key terms used throughout the agreement, including payment-related terminology
4. Payment Terms: Core payment obligations, including amounts, currencies, and payment methods
5. Payment Schedule: Detailed timeline of payments, including due dates and milestone-linked payments if applicable
6. Payment Conditions: Conditions precedent and subsequent for each payment, including any required documentation
7. Default and Remedies: Consequences of payment default and available remedies for the receiving party
8. Force Majeure: Circumstances excusing delay in payments and procedures for handling such situations
9. Notices: Methods and requirements for payment-related communications between parties
10. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes
11. Entire Agreement: Confirmation that this document represents the complete payment schedule agreement
1. Electronic Payment Terms: Specific provisions for electronic payment methods and systems, required when electronic payments are permitted
2. International Payment Provisions: Additional terms for cross-border payments, including currency conversion and international banking requirements
3. Security for Payments: Details of any payment security or guarantees, needed when additional payment security is required
4. Islamic Finance Compliance: Specific provisions ensuring Sharia compliance, required for Islamic finance transactions
5. Tax Provisions: Specific tax-related provisions, required when payments are subject to VAT or other taxes
6. Early Payment Provisions: Terms for early payment options and any associated discounts
7. Late Payment Interest: Terms for late payment charges (ensuring Sharia compliance if applicable)
8. Third-Party Payments: Provisions for payments made by or to third parties, if applicable
1. Schedule 1 - Detailed Payment Schedule: Comprehensive breakdown of payment amounts, dates, and milestones
2. Schedule 2 - Payment Procedures: Detailed procedures for making and processing payments
3. Schedule 3 - Bank Account Details: Banking information for all parties involved in the payment schedule
4. Schedule 4 - Required Payment Documentation: List of documents required for processing each payment
5. Appendix A - Payment Notice Forms: Template forms for payment-related notices
6. Appendix B - Milestone Verification Criteria: Criteria for verifying milestone completion for milestone-linked payments
7. Appendix C - Exchange Rate Mechanisms: Procedures for determining applicable exchange rates for international payments
8. Appendix D - Contact Details: Contact information for parties' payment processing departments
Applicable Law
Banking Day
Base Currency
Business Day
Completion Date
Confidential Information
Default Event
Default Interest
Default Notice
Due Date
Early Payment
Effective Date
Electronic Payment
Final Payment
Force Majeure Event
Governing Law
Installment
Interest Rate
Late Payment
Material Breach
Milestone
Milestone Payment
Notice
Payment
Payment Account
Payment Amount
Payment Currency
Payment Date
Payment Default
Payment Instrument
Payment Method
Payment Period
Payment Schedule
Payment Security
Payment Terms
Principal Amount
Project
Reference Rate
Security Interest
Substantial Completion
Term
Transaction
UAE
UAE Dirham
Definitions
Payment Obligations
Payment Schedule
Payment Terms
Payment Method
Payment Security
Conditions Precedent
Default Provisions
Interest and Charges
Force Majeure
Representations and Warranties
Confidentiality
Assignment
Notices
Amendment
Severability
Waiver
Set-Off
Currency Provisions
Electronic Payments
Bank Accounts
Documentation Requirements
Payment Verification
Dispute Resolution
Governing Law
Jurisdiction
Entire Agreement
Counterparts
Third Party Rights
Compliance
Anti-Money Laundering
Termination
Indemnification
Construction
Real Estate Development
Manufacturing
Professional Services
Information Technology
Infrastructure Development
Healthcare
Education
Energy and Utilities
Telecommunications
Retail and Distribution
Financial Services
Engineering Services
Consulting Services
Legal
Finance
Treasury
Procurement
Contract Administration
Project Management
Risk and Compliance
Operations
Commercial
Accounts Payable
Business Development
Internal Audit
Chief Financial Officer
Finance Director
Contract Manager
Legal Counsel
Project Manager
Financial Controller
Treasury Manager
Accounts Payable Manager
Procurement Manager
Commercial Director
Operations Director
Risk Manager
Compliance Officer
Business Development Manager
Project Finance Manager
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