Company agrees to pay the commission as stated in clause 1.3 1.2 to the Institute under the conditions and rate as set in the commission schedule Annex 2. 1. The payment of commission will be made to the Institute on the 7th of each month and shall be paid in USD. The Commission shall be calculated from the total of sales invoices of the SRI for the previous month. Cutoff date for the calculation of the commission will be based on the last working day of the previous month.