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Sample Invoicing and Payments Clause of Contract

March 12, 2011

9.1 Invoicing

Each Party shall invoice its share of the Work to the General Contractor, and the General Contractor shall be obliged, by taking into account the invoices received from the other Parties, to bill the Customer for the Work provided under the terms of the Contract.

9.2 Payment Claims

The Parties shall open a joint escrow account at a bank on behalf of the Consortium under which all payments from the Customer are received. The Parties shall inform the bank in which split the received payments from the Customer shall be transferred to the different accounts of each Party. Such payment split shall be based upon the actual Work performed by a Party at the time the payment is being received by the Customer. If the Parties fail to inform the bank within thirty (30) days after reception of the relevant payment of the Customer onto the escrow account, the bank shall automatically split and transfer the received payment from the Customer to the different accounts of the Parties by using the Work Quota stipulated in this Agreement.

A Party shall only claim payment of its performed Work after the relevant payment has been received from the Customer.

9.3 Misdirected Payments

If a Party receives payments to which it is not entitled, it shall immediately forward them to the Party entitled; if this Party cannot be determined within seven (7) calendar days from receipt of payment, they shall be forwarded to the General Contractor.

9.4 Charges

Each Party shall bear the bank charges for handling the payments for its share of the Work.

9.5 Letter of Credit / Payment Milestones

The General Contractor and the Parties shall use their best efforts to include an obligation by the Customer into the Customer Contract to provide a Letter of Credit. In addition, the General Contractor and the Parties shall use their best efforts to include into a potential Customer Contract a payment milestone plan that clearly attributes the payment milestones to the Works of either one of the Parties.

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