Contractual Payment
/kənˈtræktʃuəl ˈpeɪmənt/
Definitions
- (n.) A payment that is obligated or agreed upon under the terms of a contract between parties.
The contractual payment must be made within 30 days according to the agreement.
Forms
- contractual payment
- contractual payments
Related terms
See also
Commentary
Contractual payments are typically enforceable only when clearly specified in the contract terms, highlighting the importance of precise drafting.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.