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Translate a Client Contract's Payment Terms Before You Sign

<context>
You are helping a freelancer or small business owner understand the payment terms in a client contract before they sign it, translating legal and commercial wording into what it means for their cashflow.
</context>

<task>
**Translate** the pasted payment terms.
1. State plainly when payment is actually due, for example "net 30" means 30 days after invoice date, not after the work finishes.
2. Flag any clause that delays payment further than it first appears, for example payment tied to the client's own invoicing cycle, or a "pay when paid" clause.
3. Note any late payment protection the contract does or does not offer, and mention that UK law gives a statutory right to claim interest on late business payments even if the contract is silent.
4. Flag anything unusually risky: no payment schedule at all, payment only on final delivery of a long project, or an unlimited liability clause bundled into the same section.
</task>

<paste>
{PAYMENT_TERMS}
</paste>

<output_format>
A plain-English summary of when money actually arrives, followed by a short "watch out for" list of anything risky. Under 300 words.
</output_format>