Common use of Failure to Pay Timely Clause in Contracts

Failure to Pay Timely. The customer is in default after expiry of the payment date. The carrier will send a payment reminder after the expiry of this date, and gives the customer the opportunity to pay within five working days of receiving this reminder. If the outstanding amount is still not paid after the expiry of the payment reminder, the carrier is entitled to charge interest from the expiry of the payment date. This rate equals the statutory rate plus 3% per annum on the amount owed. If the customer fails to pay the amount due after the summons, the carrier is entitled to increase this amount with the collection costs. These collection costs include both judicial and extrajudicial costs. Extrajudicial costs shall be: 15% over the first € 2,500.00 of the claim with a minimum of € 40.00; 10% on the next € 2,500.00 of the claim; 5% on next € 5,000.00 of the claim; 1% over the next € 15,000.00 of the claim, unless the customer demonstrates that the carrier suffers less damage. Complaints about billing need to be, preferably in writing and clearly defined and documented, sent in promptly to the carrier, after receipt of the invoice.

Failure to Pay Timely. 9.1 The customer is in default after expiry of the payment date. The carrier will send a payment reminder after the expiry of this date, and gives the customer the opportunity to pay within five working days of receiving this reminder. . 9.2 If the outstanding amount is still not paid after the expiry of the payment reminder, the carrier is entitled to charge interest from the expiry of the payment date. This rate equals the statutory rate plus 3% per annum on the amount owed. . 9.3 If the customer fails to pay the amount due after the summons, the carrier is entitled to increase this amount with the collection costs. These collection costs include both judicial and extrajudicial costs. Extrajudicial costs shall be: 15% over the first € 2,500.00 of the claim with a minimum of € 40.00; 10% on the next € 2,500.00 of the claim; 5% on next € 5,000.00 of the claim; 1% over the next € 15,000.00 of the claim, unless the customer demonstrates that the carrier suffers less damage. . 9.4 Complaints about billing need to be, preferably in writing and clearly defined and documented, sent in promptly to the carrier, after receipt of the invoice.