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Payment Terms Clause in a Contract

Financing component. In some cases, we enter into contracts that deviate from our standard payment terms. We evaluated these contracts and calculated the impact of the financing component and concluded that the impact was not significant. This valuation and calculation will be evaluated based on future contacts with atypical payment terms, and the amount of the consideration will be adjusted if the amount is deemed significant. XML 67 R48.htm IDEA: XBRL DOCUMENT /* Do Not Remove This Comment */ function toggleNextSibling (e) { if (`none`) {`block`; } else {`none`; } } } v3.8.0.1 OTHER NON-CURRENT ASSETS (Tables) 12 Months Ended Dec. 31, 2017 Other assets, non-current [Abstract] List of other non-current assets Other non-current assets Other non-current assets Are compose as following:31. December (US$ million)20172016 Taxes recoverable, net (1)$155$139Inflows (1)140129Other long-term receivables1223Tax liabilities (1)307261 Long-term investments6654Payments of fiduciary loans2425Long-term claims on farmers in Brazil, net (1)131133To total193163A total of $1,028,927(1)These long-term assets come mainly from Brazilian operations and could take several years to realize. Summary of Investments Recorded in Long-Term Receivables and Related Value Adjustment Amounts for Brazilian Farmers The table below summarizes Bunge`s investments in long-term receivables of farmers in Brazil and the associated value adjustment amounts. 31 December 2017331. December 2016 (in MILLIONS of US dollars)Recorded investmentsRepresented investments required for which a value adjustment has been granted:Recovery procedure (1)$98$91$84$78 Negotiated amounts (2)25223631For which no value adjustment has been granted:Legal recovery procedure (1)76—60—Renegotiated amounts (2)17—16—Other long-term receivables28-46—Total $244 $113$109(1)All amounts in court proceedings are considered to be considered to be legal action is taken when legal action is filed late.

(2) All renegotiated amounts are currently on repayment terms. Summary of value adjustment activity for doubtful accounts related to Brazilian farmers` long-term claims The table below summarizes the impairment activity of bad accounts related to Brazilian farmers` long-term debts.31. December (in millions) USD)20172016 Starting balance $1099 100 Provisions for adjusted debts193Returs(12)(12)Amortization(1)(1)Currency translation(2)19 Detailed balance $113,109 – DefinitionDisclosed information on financing receivables (examples of B. Finance receivables include loans, trade receivables and trade receivables) and risk provisioning activities. (3) Although ownership under this clause belongs to the Government, other applicable clauses of this Agreement (e.g. B termination clauses) govern the processing and disposition of the property. The ”Fees and Payment” section contains a number of subsections that contain various clauses. (2) A payment under this performance-related payment clause is a contractual financing payment in accordance with the immediate payment clause of this Contract and is not subject to the interest penalty provisions of the Immediate Payment Act. The notified paying body shall pay the approved applications on __ However, the notified paying body shall not be required to make the payment if the agent requests justification in accordance with point (c)(1) of this clause or inquires about the status of an event or performance criterion or any of the conditions set out in point (e) of this clause or the contractor`s certification. The payment period does not begin until the contractor has approved the application. (i) may not be exclusive, but is in addition to any other rights and remedies provided by law or in this Agreement; and (ii) be included in deliveries delivered and accepted by the Government under this Agreement and to which the Government belongs under this clause.

This simple, comprehensive clause on payment terms works well for a company like Apple, which offers customers a number of ways to purchase electronic media such as songs, movies, and mobile apps. 10. Contract Terms and Termination: This AGREEMENT is in effect on 01-Mar-17 and is valid for one year until 01-Mar-18. This AGREEMENT may be terminated by either party with thirty (30) days` written notice to the other party. The CONTRACT will automatically renew for a period of one (1) year from the anniversary, unless one party notifies the other party in writing thirty (30) days prior to automatic renewal. In the event of termination of this AGREEMENT for any reason, the Distributor, regardless of when the Orders are shipped, shall have the right to: Products purchased on all Orders requiring delivery to the Distributor`s Territory if the date of shipment AND the Products are available to the Customer before the effective date of termination. Payment terms after termination of this Agreement for Open Orders apply via the prepayment terms. Products that are in transit and in the possession of The Dealer remain the property of the Licensee upon termination of this Agreement.

The customer is not responsible for accepting the return of stocks. Slack has created a billing FAQ that answers questions about payments, payment methods, non-payment, and refunds. During the nine-month period ended September 30, 2020, three clients accounted for approximately 77.8% (or $6,016,000) of our total revenues, and in the year ended December 31, 2019, two clients accounted for approximately 99% (or $4,047,000) of our total revenues. This concentration of customers exposes us to the risks associated with the loss of one or more of these important customers, which would have a significant and negative impact on our sales and results of operations. .