What is payment revision?

Payment revision is the process of reviewing and potentially modifying the payment terms agreed upon between two parties. This can involve making changes to the amount, frequency, and method of payment in order to better align with the needs and capabilities of both parties. Payment revision can be initiated for various reasons, such as financial difficulties, changes in business circumstances, or the need to accommodate new conditions or requirements. It is important for both parties to communicate openly and transparently during the payment revision process to ensure a fair and mutually beneficial outcome.