After review and approval of the project closeout package, the Vetted accounting team will bill rates agreed to in the approved Initial Contract Term.
The standard terms outlined in that agreement state Agency will pay Vetted fifty percent (50%) of the first Usage Fee, the Implementation Fee, and any fee for Hardware (as described on the Delivery Form, together with the “Initial Fees”) as outlined in the Vetted Hardware as a Service Contract upon execution.
Upon commencement of installation, Vetted will issue an invoice for twenty-five percent (25%) of the first Usage Fee, the Implementation Fee, and any fee for Hardware (as described on the Delivery Form, together with the “Initial Fees”) as outlined in the Vetted Hardware as a Service Contract.
Upon completion of installation, Vetted will issue an invoice for the remaining balance, and Agency shall pay on or before the 30th day following receipt of the final invoice. Vetted is not obligated to commence the Installation Services unless and until the first payment has been made and shall have no liability resulting from any delay related to that. For a Renewal Term, as defined below, Agency shall pay the entire invoice on or before the anniversary of the Effective Date.
Contract Term: Subject to earlier termination as provided below, the initial term of this Agreement shall be for the period outlined in the Vetted Hardware as a Service Contract. This Agreement will automatically renew for successive renewal terms for the length set forth on the order form (each, a “Renewal Term” and together with the Initial Term, the “Service Term”) unless either party gives the other party notice of non-renewal at least thirty (30) days before the end of the then-current term.