Late Payment Consequences Clause Samples
The Late Payment Consequences clause defines the actions and penalties that will be imposed if a party fails to make payments on time under the agreement. Typically, this clause outlines the accrual of interest on overdue amounts, the imposition of late fees, or the suspension of services until payment is received. Its core function is to incentivize timely payments and protect the receiving party from financial loss or cash flow disruptions caused by delayed payments.
Late Payment Consequences. Late payments will incur: (i) A service charge of 1.5% per month on the overdue amount or the highest rate permissible under applicable law, whichever is lower; (ii) Collection-related costs; (iii) Bank or payment processing fees; (iv) If You were granted any discount for the Application, the price of the Application will be retroactively updated by eliminating the discount and the difference between the standard price and the discounted price will immediately be considered owed by You. If payment is not successfully processed within fourteen (14) days of initiation, we may, at our discretion, cancel or suspend Your Subscription and access to the Application.
Late Payment Consequences. 8.4.1 If the Customer fails to make any payment due under this agreement by the due date, the Supplier reserves the right to:
(a) Disable the Customer's password, account, and access to all or part of the Services, with no obligation to provide any services while the invoice(s) remain unpaid.
(b) Interest shall accrue daily on the overdue amount at an annual rate equal to 8% above the base lending rate of the Supplier's principal bank, commencing on the due date and continuing until fully paid, whether before or after judgment.
Late Payment Consequences. If you don't pay within 10 days, the school reserves the right to refuse your registration. Essentially, your spot is not guaranteed until the fee is paid.
Late Payment Consequences. If the Amount Due is not made within the Payment Period, the Supplier may by notice to the Customer:
(a) withdraw any credit provided under the Credit Terms (if applicable);
(b) withhold supply of further Goods;
(c) apply interest on the outstanding amount from the due date up to the date of actual payment at the rate of 2% over the annual interest rate charged by the Commonwealth Bank of Australia on an overdraft of $100,000, calculated on a daily basis which will be payable in addition to the Purchase Price; and
(d) require the Customer to reimburse the Supplier for any costs and expenses reasonably incurred by the Supplier in taking action to recover such Amount Due.
Late Payment Consequences. The Customer must pay to the Supplier:
(a) the Purchase Price for all Goods supplied to the Customer; and
(b) all other amounts payable under and in connection with the Goods; and
(c) any other amount payable in connection with these Sales Conditions; and
(d) any amounts payable in connection with any the Credit Terms (“Amount Due”). If the Amount Due is not made within the Payment Period, the Supplier may, without notice to the Customer:
(a) withdraw any credit;
(b) not supply further Goods;
(c) charge a late fee of [10]% of the relevant Purchase Price (inclusive of GST) which will be payable in addition to the Purchase Price; and/or
(d) apply interest on the outstanding amount from the due date up to the date of actual payment at the rate of 1.5% per month which will be payable in addition to the Purchase Price.
Late Payment Consequences. 8.5 VAT and Other Charges 8.6 Adjustments for Third-Party Costs
Late Payment Consequences. If payment is not received by the first of the month for that month of service MSP reserves the right to put a hold on rendering on-site and remote services until monthly fee has been paid, provided MSP gives a five (5) business day notice of late payment. Late fees apply, see Collection Procedures and Costs.