Contractual Payment Agreement

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This Contractual Payment Agreement ("Agreement") is entered into on this 1st day of January 2050, by and between:

• [Your Company Name], located at [Your Company Name] ("Party A"), and
  

• ABC Enterprises Inc., located at 456 Market Street, San Francisco, CA 94105 ("Party B").

Collectively referred to as the "Parties."

1. Payment Amount

The Parties hereby agree that Party B shall make payment to Party A in the total amount of $50,000.00 for the consulting services provided by Party A, as detailed in the Consulting Agreement signed on December 1, 2049.

2. Payment Schedule

The payment will be made according to the following schedule:

• First Payment: $15,000.00 due on February 1, 2050.

• Second Payment: $15,000.00 due on May 1, 2050.

• Final Payment: $20,000.00 due on August 1, 2050.

Payments will be made by Party B to Party A via bank transfer to the account details provided below.

3. Late Payment and Penalties

If Party B fails to make a payment by the due date, Party A shall be entitled to charge a late fee of $200.00 or 2% of the overdue amount per month, whichever is greater, until the payment is received.

In case of continued non-payment for more than 30 days, Party A reserves the right to suspend services and/or terminate the contract.

4. Payment Method

Payments shall be made by Party B to Party A via the following method:

• Payment Method: Bank Transfer

• Bank Name: National Bank of New York

• Account Name: [Your Company Name]

• Account Number: 123456789

• Routing Number: 987654321

• SWIFT Code: NYBKUS33

• Reference: Invoice #1001

5. Refunds and Adjustments

In case of overpayment or an error in the invoice, Party A will provide a refund or adjustment within 15 days after verification.

6. Dispute Resolution

In the event of a dispute regarding the payment terms, the Parties agree to resolve the issue through arbitration under the rules of the American Arbitration Association, before taking legal action.

7. Governing Law

This Agreement will be governed by and construed by the laws of the state of New York, without regard to its conflict of laws principles.

8. Amendments

This Agreement may be amended or modified only in writing, signed by both Parties.

9. Entire Agreement

This Agreement represents the entire understanding between the Parties concerning the subject matter hereof, superseding all prior agreements, representations, and understandings.

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IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.

Party A ([Your Company Name]):

Name: [Your Name]
Title: CEO
Date: January 1, 2050

Party B (ABC Enterprises Inc.):

Name: Jane Smith
Title: CFO
Date: January 1, 2050

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