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Payment Terms

The conditions by which payment is to be made, including time frames payment is due and form of payment.

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Net (15, 30)

The time frame in which payment is due, the number detailing how many standard days until the due date.

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Out of Pocket (OOP)

The expense to be reimbursed by the client for costs pertaining to the job, such as postage, printing, and materials needed.

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Out of Scope (OOS)

Any work that is considered outside of the statement of work presented via estimate or proposal, which will result in a change of costs to the original statement.

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Scope of Work (SOW)

The division of work to be performed for the completion of the project, typically broken out into phases or specific tasks, with estimated dates of completion or a timeline.

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