Contract Agreement Payment Terms Template for Philippines

1. Security and Guarantees: Required when additional payment security or guarantees are needed, such as bank guarantees or collateral

2. Force Majeure: Include when there's a need to address payment obligations during unforeseen circumstances or events beyond parties' control

3. Electronic Payment Terms: Include when electronic payment systems are primary payment method, ensuring compliance with E-Commerce Act

4. Credit Terms: Include when credit is being extended, with specific provisions compliant with Truth in Lending Act

5. Currency Exchange Provisions: Include for international transactions involving currency conversion

6. Audit Rights: Include when one party requires the right to audit payment records

7. Anti-Money Laundering Compliance: Include for high-value transactions or when required by Philippine regulations

1. Schedule A - Detailed Payment Schedule: Comprehensive breakdown of payment amounts, dates, and milestones

2. Schedule B - Interest Calculation Method: Detailed methodology for calculating interest on late payments

3. Schedule C - Banking Details: Complete banking information for all parties

4. Schedule D - Invoice Format Template: Standard format for invoices and required supporting documentation

5. Appendix 1 - Tax Documentation Requirements: List of required tax documents and compliance requirements

6. Appendix 2 - Electronic Payment Protocols: Technical specifications for electronic payment systems if applicable