Common use of Default by Client Clause in Contracts

Default by Client. 10.1. Should the Client fail to make due payment for the goods or services specified in this Contract within fourteen days of the required time as specified in 2.1.2, then the Company may suspend works, withhold goods and take steps to recover money and/or goods, and at the same time give notice of such suspension and withholding in writing to the Client. The Company shall recommence work within an acceptable period not exceeding 90 days of payment being made by the Client. 10.2. Amounts overdue will attract an interest rate of ……10……..% per annum commencing fourteen days after the due date for payment and continuing until payment and interest is received in full by the Company.

Default by Client. 10.1. Should the Client fail to make due payment for the goods or services specified in this Contract within fourteen days of the required time as specified in 2.1.2, then the Company may suspend works, withhold goods and take steps to recover money and/or goods, and at the same time give notice of such suspension and withholding in writing to the Client. The Company shall recommence work within an acceptable period not exceeding 90 days of payment being made by the Client. 10.2. Amounts overdue will attract an interest rate of ……10……..% per annum commencing fourteen days after the due date for payment and continuing until payment and interest is received in full by the Company.