Clauses for collecting payment before the contract effective date
<p>I'm new to contract law and have a scenario where I need to draft a digital contract to collect payment as soon as contract is signed but remaining terms of the contract will become effective some time in future.</p>
<p>From what I have read so far, it looks like a contract can have different contract execution date (signature date) and I can introduce an effective date clause which can mention the date on which terms will go into effect. Is there a commonly used clause that I can use to enforce collection of payments before the effective date? What would be a correct way to draft such a contract? Any examples would be appreciated.</p>

<h2>Payment Date</h2>
<p>When drafting a contract just use simple English terms (assuming the contract is in English) that both parties understand. Don’t introduce quasi-legal language that you think you understand but may not know all the nuances of - don’t say date of execution when you mean the date the contract was signed; they aren’t the same thing.</p>
<p>Incidentally, a payment made before goods and services are provided is called a deposit.</p>

<p>You might want the agreement to be in effect when signed or when the first payment is made, but some terms not be in effect until some future date. I think if someone is paying money there is an agreement (meeting of the minds) in effect at that moment.</p>

contract-law digital-contract