Common use of Overdue Accounts Clause in Contracts

Overdue Accounts. We reserve the right to charge interest monthly at the rate of 10% per month on the monthly balance from 7 days of goods supplied if account becomes overdue. Part payments shall be firstly applied against interest. If accounts are not paid within 30 days the owner reserves the right to engage the services of Legal Source Pty Ltd, debt recovery agents. The customer must pay to the contractor any costs, expenses or losses incurred by the owner as a result of a customer’s failure to pay to the contractor all sums outstanding as owed by the customer to the contractor including without limiting the generality of the forgoing any debt collection and legal costs incurred in enforcing payment on a solicitor and own Client basis. You authorise the contractor to collect, retain, record, use and disclose commercial and / or consumer information about your credit worthiness, credit standing, credit history or credit capacity, in accordance with the privacy act 1988 (Cth). To persons and / or legal entities who are a solicitor or any other professional consultant engaged by the owner, a debt collector, credit reference organisation and / or any other individual or organisation which maintains credit references and / or default listings, if required. If a cheque is dishonoured an extra fee of $20 will be incurred.

Overdue Accounts. 3.3.1 We reserve the right to charge interest monthly at the rate of 10% per month on the monthly balance from 7 days of goods supplied if account becomes overdue. Part payments shall be firstly applied against the interest. . 3.3.2 If accounts are not paid within 30 days the owner reserves the right to engage the services of Legal Source Pty Ltd, debt recovery agents. . 3.3.3 The customer must pay to the contractor any costs, expenses expenses, or losses incurred by the owner as a result of a customer’s customers failure to pay to the contractor all sums outstanding as owed by the customer to the contractor including including, without limiting the generality of the forgoing foregoing, any debt collection and or legal costs incurred in enforcing payment on a solicitor and own Client client basis. . 3.3.4 You authorise the contractor to collect, retain, record, use use, and disclose commercial and / or and/or consumer information about your credit worthiness, credit standing, credit history or credit capacity, in accordance with the privacy act 1988 (Cth)Privacy Act 2009. To persons and / or and/or legal entities who are a solicitor or any other professional consultant engaged by the owner, a debt collector, credit reference organisation and / or and/or any other individual or organisation which maintains credit references and / or and/or default listings, if required. . 3.3.5 If a cheque is dishonoured dishonoured, an extra fee of $20 will be incurred.