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What is cash payment upon delivery?
You pay cash when the unit/s are /is ready for delivery.
When a notice of completion is filed how many days is payment due?
i believe it is due upon delivery of said notice. I include my payment with the notice.
What is an advance payment?
An advance payment is a part of a sum which is paid or received in advance for goods and services.
What is the difference between advance payment and down payment?
Down Payment: Payment, which is a loan in advance with no securities for the borrower or the buyer. Advance Payment: Payment which is connected with respective responsibilities. That means that the borrower or buyer gets some securities from the lender or vendor.
How do you treat interest on advance payment of tax in financial statements?
there is no interest on advance payment of tax
When is payment due under cif shipment terms?
CIF stands for cost, insurance, and freight. Under CIF shipping terms, payment for products are paid upon delivery of goods.
What is the Journal entry for purchase of asset by advance payment?
Debit advance payment for assetCredit cash / bank
What do you understand by advance tax payment did government provide any special bonus on advance payment of tax?
Advance tax payment is paying of tax to the government in advance, before the year ends. The government do not provide special bonuses.
How is an peshgi define?
"Peshgi" is a term used in finance and refers to an advance payment or down payment made ahead of the delivery of goods or services. It is often required by vendors or suppliers as a way to secure a transaction and ensure commitment from the buyer.
Meaning Advance Payment Tax?
Advance payment of tax means to pay tax along with the earning of his income this tax is paid on the current year income in the same year .In fact, it is paid as advance and it is called advance payment of tax
What is advance payment in construction?
Many times a contractor will ask for an advance payment in construction before work can begin to make sure they will get paid. Advance payment might also be asked of the customer so that materials can be purchased.
What is the difference between contract of sale and contract for sale?
Contract of SaleContract to SellTitle over the property passes to the buyer upon delivery unless there is a contrary agreementOwnership is retained by the seller whether or not there is delivery. Ownership passes to the buyer only upon full payment of the priceNon-payment of the purchase price is a negative resolutory condition, meaning the sale becomes ineffective upon the happening of such conditionThe payment in full is a positive suspensive condition, meaning, if the purchase price is not paid, the obligation to deliver and to transfer ownership on the part of the seller does not become effectiveAfter delivery of the objective, the seller loses ownership over it. Unless, the contract is set aside, he cannot recover the objectWhether there is delivery or not, the seller retains the ownership of the object. If the seller, due to non-payment of the price is ousting the buyer from the property, he (seller) is not rescinding the contract of sale but is precisely enforcing it.
