Final answer:
The question is about the frequency of vendor payments for services rendered, which is determined by the terms in the contract and typically varies, such as 'monthly' or 'quarterly'.
Step-by-step explanation:
The question refers to the frequency with which vendor payments are scheduled to be made for services provided during the previous billing period. The blank space in the sentence 'Vendor payment will be made at periodic intervals but not less than __________ for services rendered during the previous billing period' should be filled with a specific time frame, such as 'monthly' or 'quarterly,' depending on the terms agreed upon in the contract between the vendor and the client. These payment terms are typically established in the contract or service agreement to ensure both parties have clear expectations concerning payment schedules.