Definicja period-specific condition

A supplementary condition, effective within a certain period of time covered by a main (principal) condition.

Example 1

Two business partners agree a 3% discount on a price in the period 01.01 to 03.31. An additional period-specific condition of 1% applies between 02.01 and 02.15.

Example 2

Under a rebate arrangement that is valid from 01.01 to 03.31, periodic interim settlements are effected in addition to final settlement.

In the process of interim settlement accounting on 16.02, the amount due under the period- specific condition that is valid for the period 02.01 to 02.15 is determined and settled.

At the time of final settlement on 03.31, the sum payable is reduced by the amount paid in the settlement effected on 02.16.