Receipts clause: Copy, customize, and use instantly
Introduction
A receipts clause ensures that both parties properly document any payments, transactions, or expenses incurred during the course of the agreement. This clause provides transparency and accountability, ensuring that all financial exchanges are recorded and verified through receipts, facilitating smooth financial management and dispute resolution if necessary.
Below are templates for receipts clauses tailored to different scenarios. Copy, customize, and insert them into your agreement.
Standard receipts clause
This version includes basic provisions for receipts.
[Party B] agrees to provide [Party A] with receipts for any payments or expenses incurred under this Agreement. Receipts must be submitted within [X] days of the transaction and should include detailed information, such as the date of the transaction, the amount, and the nature of the expense. [Party A] reserves the right to request additional documentation to verify the validity of any expenses.
Receipts clause with provision for electronic receipts
This version applies to electronic receipts.
[Party B] may provide electronic receipts for any transactions or expenses incurred. Electronic receipts must be submitted in a PDF or image format and must include all necessary details to verify the transaction. [Party A] agrees to accept electronic receipts in lieu of paper copies, provided they meet the necessary documentation requirements.
Receipts clause with provision for itemized receipts
This version applies to itemized receipts.
For all expenses requiring reimbursement, [Party B] will provide itemized receipts. Each receipt must clearly outline the specific goods or services purchased, including unit prices, quantities, and any applicable taxes. [Party A] will not accept generic receipts or summaries for expense verification.
Receipts clause with provision for retention of receipts
This version applies to retention of receipts.
[Party B] agrees to retain all receipts for a minimum of [X] years after the expiration or termination of this Agreement. [Party A] may request access to these receipts during the retention period to verify expenses, and [Party B] will provide copies of the receipts upon request.
Receipts clause with provision for verification of receipts
This version applies to verification of receipts.
Upon receipt of any receipts from [Party B], [Party A] reserves the right to verify the authenticity of the receipts. This may include contacting the issuing party, cross-referencing with other documentation, or requesting further details to confirm the accuracy of the receipt. If discrepancies are found, [Party B] will be required to provide corrected receipts.
Receipts clause with provision for confirmation of receipt submission
This version applies to confirmation of receipt submission.
[Party A] will provide confirmation of receipt for all submitted receipts from [Party B] within [X] days of receipt. If no confirmation is provided within this timeframe, [Party B] may assume the receipts have been received and are being processed. Any issues with receipts will be communicated to [Party B] within [X] days.
Receipts clause with provision for failure to submit receipts
This version applies to failure to submit receipts.
If [Party B] fails to submit the required receipts for any payments or expenses within [X] days of the transaction, [Party A] may withhold payment or reimbursement until the proper receipts are provided. If the receipts are not submitted within [X] additional days, [Party A] may consider the expense non-reimbursable.
Receipts clause with provision for payment of non-receiptable expenses
This version applies to non-receiptable expenses.
[Party B] acknowledges that certain expenses, such as those without valid receipts or incomplete receipts, may not be reimbursed under this Agreement. In cases where receipts are not provided or are deemed insufficient by [Party A], [Party B] will bear the responsibility for those expenses.
Receipts clause with provision for handling lost receipts
This version applies to lost receipts.
If a receipt is lost or unavailable, [Party B] will provide a written explanation of the circumstances and attempt to obtain a duplicate receipt. If a duplicate receipt cannot be obtained, [Party B] will provide a sworn statement confirming the nature of the expense and the amount incurred. [Party A] will determine whether the expense is eligible for reimbursement.
Receipts clause with provision for receipts from third parties
This version applies to third-party receipts.
If any expense is incurred through a third party, [Party B] agrees to provide receipts or documentation from the third party, including invoices or service contracts. These documents will serve as the supporting receipts for the transaction and will be submitted to [Party A] within [X] days of the transaction.
Receipts clause with provision for advanced payments
This version applies to advanced payments.
For any advanced payments made by [Party A], [Party B] will provide receipts to document the use of the advance. The receipts will be submitted to [Party A] within [X] days of the expenditure and must match the original purpose of the advance. Any unused portion of the advance must be returned to [Party A] with appropriate documentation.
Receipts clause with provision for summary receipts
This version applies to summary receipts.
If [Party B] submits multiple receipts for the same category of expenses, [Party B] may provide a summary receipt outlining the total amount spent in each category. Each summary receipt will be accompanied by individual receipts or records for verification.
Receipts clause with provision for submission of receipts with invoices
This version applies to submitting receipts with invoices.
[Party B] will submit all receipts along with their corresponding invoices to [Party A]. The receipts must match the amounts shown on the invoices and clearly detail the nature of the purchase or service. Any discrepancies between the invoice and receipts will require further clarification and may delay payment.
Receipts clause with provision for reimbursement of miscellaneous expenses
This version applies to miscellaneous expenses.
[Party B] will provide receipts for any miscellaneous expenses incurred during the execution of this Agreement. These receipts will be included with the final invoice for reimbursement, and [Party A] will review them to ensure they meet the conditions of this Agreement before processing any payments.
Receipts clause with provision for international transactions
This version applies to international transactions.
If any transaction occurs internationally, [Party B] will provide receipts in the local currency, along with any applicable exchange rate documentation used to convert the amount to the agreed-upon currency. [Party A] reserves the right to adjust reimbursements based on the exchange rates provided.
Receipts clause with provision for reimbursement of travel expenses
This version applies to travel expenses.
[Party B] will submit receipts for any travel expenses incurred, including transportation, lodging, and meals, as part of the supporting documentation. Travel expenses will only be reimbursed if they are consistent with the terms outlined in this Agreement and if the receipts are provided in full.
Receipts clause with provision for separate receipts for each category
This version applies to separate receipts for categories.
[Party B] agrees to submit separate receipts for each category of expense, such as materials, labor, and travel, to ensure clear allocation of expenses. Each receipt must be categorized accordingly and submitted for approval within [X] days.
Receipts clause with provision for audit and verification
This version applies to audit and verification.
[Party A] reserves the right to audit all receipts submitted by [Party B] to verify the accuracy and legitimacy of the expenses. [Party B] agrees to provide additional documentation or clarification if requested by [Party A] during the audit process.
Receipts clause with provision for consolidated receipts
This version applies to consolidated receipts.
[Party B] may submit consolidated receipts for multiple transactions within the same period. These consolidated receipts should summarize individual purchases and include the total amount spent. [Party A] will review the summary and may request individual receipts if further verification is required.
Receipts clause with provision for different payment methods
This version applies to different payment methods.
[Party B] will provide receipts for all payments made under this Agreement, regardless of the payment method. Receipts for cash payments, credit card payments, or bank transfers must be submitted to [Party A] within [X] days of the transaction.
Receipts clause with provision for receipts for all project expenses
This version applies to all project expenses.
[Party B] agrees to submit receipts for all project-related expenses, including but not limited to materials, labor, and administrative costs. Each receipt should be submitted with a corresponding description of the expense to ensure proper categorization.
Receipts clause with provision for additional documentation for large expenses
This version applies to large expenses.
For any individual expense exceeding [X] dollars, [Party B] agrees to submit additional documentation, such as a detailed invoice or contract, along with the receipt to substantiate the expense. [Party A] reserves the right to request further clarification on these large expenses.
Receipts clause with provision for receipt adjustments
This version applies to receipt adjustments.
If a receipt contains an error, such as an incorrect amount or missing information, [Party B] will promptly submit an adjusted receipt or clarification. [Party A] will not process payment until the corrected receipt is provided.
Receipts clause with provision for advance receipts
This version applies to advance receipts.
If an advance payment is made by [Party A], [Party B] will provide a receipt for the advance along with a statement detailing how the advance will be applied against future payments or expenses. Any remaining balance will be reconciled with the final invoice.
Receipts clause with provision for multiple payment installments
This version applies to multiple installments.
For contracts involving multiple payment installments, [Party B] will provide a receipt for each payment as it is made. The receipts will reflect the specific installment amounts and the corresponding dates. Final payment will be contingent upon the submission of all relevant receipts.
Receipts clause with provision for non-refundable expenses
This version applies to non-refundable expenses.
[Party B] agrees to submit receipts for all non-refundable expenses incurred during the execution of this Agreement. These expenses must be clearly marked as non-refundable on the receipt. [Party A] will reimburse only those expenses deemed necessary and reasonable under the terms of the Agreement.
Receipts clause with provision for travel-related receipts
This version applies to travel-related receipts.
[Party B] will submit receipts for all travel-related expenses, including transportation, lodging, meals, and incidental costs. Receipts must reflect the date, amount, and purpose of the travel, and should comply with [Party A]'s travel policy outlined in this Agreement.
Receipts clause with provision for non-receipt of purchase orders
This version applies to non-receipt of purchase orders.
If no formal purchase order was issued for a particular expense, [Party B] will submit a receipt along with an explanation detailing the reason for the absence of a purchase order. [Party A] reserves the right to withhold payment until sufficient documentation is provided.
Receipts clause with provision for credit or refund adjustments
This version applies to credit or refund adjustments.
If any purchased goods or services are returned, or if a refund or credit is issued, [Party B] will provide supporting documentation, including the receipt for the refund or credit. [Party A] will adjust payments accordingly based on the updated receipt information.
Receipts clause with provision for credit card receipts
This version applies to credit card receipts.
[Party B] will provide receipts for any expenses paid by credit card, along with a credit card statement showing the transaction details. The receipts will include the name of the vendor, the transaction amount, and the date of the transaction. [Party A] will verify the credit card expenses against the submitted statement.
Receipts clause with provision for international receipts
This version applies to international receipts.
[Party B] agrees to provide receipts in the original currency for any international expenses. Additionally, [Party B] will include the applicable exchange rate and convert the total amount into the currency specified in this Agreement for reimbursement purposes.
Receipts clause with provision for vendor receipts
This version applies to vendor receipts.
For any goods or services provided by a vendor, [Party B] will submit the vendor’s receipt or invoice along with the necessary payment proof. The receipt must include vendor details, items purchased, quantities, and applicable taxes. [Party A] reserves the right to request further documentation from the vendor if necessary.
Receipts clause with provision for receipts for specific project phases
This version applies to specific project phases.
[Party B] will provide receipts for expenses incurred during specific project phases, as outlined in the project timeline. Each phase’s expenses will be documented separately and submitted with corresponding receipts to [Party A] for approval before the next phase begins.
Receipts clause with provision for shared expenses
This version applies to shared expenses.
If any expenses are shared between [Party A] and [Party B], both parties will provide receipts for their respective shares. The total expenses will be divided according to the terms of this Agreement, and both parties must submit receipts for their portion to ensure accurate reimbursement.
Receipts clause with provision for retrospective receipts
This version applies to retrospective receipts.
[Party B] may submit receipts retrospectively for any expenses incurred during the term of this Agreement, provided that such expenses were not originally documented at the time of the transaction. [Party A] will review retrospective receipts and determine whether they meet the criteria for reimbursement.
Receipts clause with provision for reimbursement deadlines
This version applies to reimbursement deadlines.
[Party B] will submit all receipts for reimbursement within [X] days of incurring the expense. If the receipts are not submitted within this timeframe, [Party A] reserves the right to deny reimbursement for the expense, unless otherwise agreed in writing.
Receipts clause with provision for disputed receipts
This version applies to disputed receipts.
If any receipt submitted by [Party B] is disputed by [Party A], both parties will meet to resolve the issue within [X] days. If the dispute is not resolved to both parties' satisfaction, [Party A] may withhold payment for the disputed expenses until further clarification is provided.
Receipts clause with provision for detailed descriptions on receipts
This version applies to detailed descriptions.
Receipts submitted by [Party B] must include a detailed description of the purchased items or services. The description should specify the purpose of each transaction and how it relates to the work or services provided under this Agreement. [Party A] reserves the right to request clarification if the descriptions are insufficient.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.