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PLAYBOOK TEMPLATES
Joint Venture Agreement
A Joint Venture Agreement defines the governance, contributions, and profit sharing between co-venturing entities. This playbook examines dispute resolution, management control, and exit provisions.
Fees and Payment Terms
Negotiation strategy
Ensure that payment terms align with the company's cash flow needs. Negotiate for favorable payment milestones and reasonable interest rates on late payments.
Advocate for clear invoicing procedures and timely payments to maintain financial stability. Propose adjustments to payment schedules if necessary to accommodate project timelines.
Essential elements
1
Payment Milestones
Link payments to deliverables.
2
Invoicing Procedures
Detail invoice submission requirements.
3
Remedies for Late Payments
Specify interest rates and penalties.
Action framework
ACCEPT
Propose edits if payment terms are unclear or misaligned with project timelines.
EDIT
Reject if terms impose unreasonable financial burdens or lack clarity.
ADD
Add clauses for specific deliverables or jurisdictional compliance.
PRO TIP
Regularly review payment terms to ensure they remain aligned with project changes and financial goals.
Real-world examples
FAVORABLE
Preferred Payment Milestones
"The Parties agree to establish clear payment milestones, which shall be detailed in Schedule A of this Agreement. Each milestone shall specify the deliverables required and the corresponding payment amount. Payments shall be made within thirty (30) days of the successful completion and acceptance of each milestone."
NEUTRAL
Template Invoicing Procedures
"All invoices must be submitted in a format acceptable to the receiving Party, which shall include, at a minimum, the invoice number, date, description of services rendered, and the amount due. Invoices shall be submitted electronically to the designated email address provided by the receiving Party."
UNFAVORABLE
Unclear Payment Terms
"Payments shall be made as agreed upon by both parties without specifying clear milestones or deadlines."
Alternative scenarios & positions
High-Risk Projects
In high-risk projects, ensure payment terms include additional security measures such as escrow accounts or performance bonds to mitigate financial risks.
International Contracts
For international contracts, consider currency fluctuations and include clauses for currency adjustments to protect against exchange rate volatility.
Long-Term Agreements
In long-term agreements, incorporate periodic reviews of payment terms to adjust for inflation or changes in market conditions.
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WEEK 1
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WEEK 2
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WEEK 3
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WEEK 4
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