Common use of Billing and Invoices Clause in Contracts

Billing and Invoices. 9.1 One Call shall invoice the Industry Member for the Service provided during the previous month, on a monthly basis. The Industry Member shall pay the amount set forth in the invoice in full within thirty (30) days from date of receipt of the particular invoice (hereinafter the "invoice period"'). If there are corrections or inaccuracies in the invoice, it is the obligation of the Industry Member to contact One Call. 9.2 Interest shall be charged and payable by the Industry Member on all amounts remaining unpaid after the invoice period and interest shall be calculated monthly at the rate of 1.5% per month, which is equivalent to an effective annual rate of 19.56% per annum or maximum permitted by law.