24Definitions—pt 3

24 Definitions—pt 3 commercial account means an account given to a Territory entity for the payment of money under a procurement contract. Examples of payments a deposit, part payment, instalment payment or a bond or other refundable money payment date, for a commercial account, means— (a) the day worked out in accordance with the contract as the day when the account is payable; or (b) in any other case—the day on which the account is received by the Territory entity. relevant date, for the payment of a commercial account, means the 25th day of the calendar month after the calendar month in which the payment date for payment of the account happens. Note Calendar month—see the Legislation Act, dictionary, pt 1.