A Practice Note discussing the payment term clause in a commercial contract and its interactions with other contract clauses. This Note provides a summary of the common contract clauses that interact with payment terms, such as pricing provisions (pricing and pricing mechanisms and adjustments, and tax allocation), invoicing, delivery, acceptance, contractual remedy provisions (setoff, warranties, indemnification, and liquidated damages), termination for cause and convenience, contract breach grace periods, time of the essence, effect of termination, dispute resolution, force majeure, and notices.