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Common area maintenance charges (CAM) are one of the net charges billed to tenants in a commercial triple net (NNN) lease, and are paid by tenants to the landlord of a commercial property. A CAM charge is an additional rent, charged on top of base rent, and is mainly composed of maintenance fees for work performed on the common area of a property
Net 10, net 15, net 30 and net 60 (often hyphenated "net-" and/or followed by "days", e.g., "net 10 days") are payment terms for trade credit, which specify that the net amount (the total outstanding on the invoice) is expected to be paid in full by the buyer within 10, 15, 30 or 60 days of the date when the goods are dispatched or the service is completed.
Under section 13, it is added that variations on straightforward exemption clauses will still count as exemption clauses caught by the Act. So for example, in Smith v Eric S Bush [9] the House of Lords held that a surveyor's term limiting liability for negligence was ineffective, after the chimney came crashing through Mr Smith's roof. The ...
The example of permitting assignment under specified circumstances is: An example: The hulls and freight clauses contain a similar "assignment clause" which states that no assignment is binding unless a dated notice of assignment, signed by the assured is endorsed on the policy and the policy is produced before payment of claim or return of ...
Prompt payment is a commercial discipline which requires businesses to: agree fair and reasonable payment terms with their suppliers; ensure suppliers' invoices are approved and paid within agreed terms; encourage adoption of the same practices throughout their supply chain.
The provision will usually indicate that if there is a mandatory withholding or deduction by operation of law (usually with respect to tax), then the paying party shall "gross up" the payment so that the receiving party receives the same net amount. A gross-up clause is also used when a payment that is made will be subject to taxes and the ...
In Henia Investments Inc v Beck Interiors, a 2015 High Court case, Mr Justice Akenhead noted that the payment provisions in the standard contract were "relatively and seemingly complex", but this came a consequence of the need to comply with the payment requirements of the Housing Grants, Construction and Regeneration Act 1996 and the Local ...
Floor Level Floor Level of an existing or proposed building or concrete pad FN or F/N: flag note, flagnote; find number: 1. Flagnote: A flagnote is a note that is called out in specific spots in the field of the drawing. It is numbered with a stylized flag symbol surrounding the number (or sometimes a delta symbol). A general note applies ...