Price and payment provisions Price and payment provisions in business-to-business contracts are often interlinked. They typically cover a range of issues such as: • how prices are determined, eg price list, rate card, subscription fee, unit price, time and materials, or fixed price • additional costs, such as packaging, transport, delivery and insurance costs • invoicing currency including, where applicable, the exchange rate mechanism • time allowed for payment • interest on late payment, and • payment disputes For further information on price and payment clauses, see Practice Note: Price, payment terms and interest and for information on VAT in the context of commercial agreements, see: VAT contract review—overview. Also consider: • Precedent: Template agreement—mutual and associated Drafting Notes • Drafting and negotiating a price clause—checklist • Drafting and negotiating a payment clause—checklist Negotiating price variation (or price adjustment) clauses When approaching commercial contracts for the supply of goods or services, especially where the supply