Common use of Payment and Default Clause in Contracts

Payment and Default. 3.1 Payment terms for account holders are by the 20th of the following month; for casual hires upon return of the plant. 3.2 When in default of any monies payable under the Contract, without prejudice to the Owner’s other remedies under these conditions at law or otherwise, the Hirer will pay default interest at the rate of 2% per calendar month on all outstanding until all monies have been paid in full. 3.3 The Hirer shall pay to the Owner all costs and expenses incurred by the Owner in recovering money or in connection with the exercise or an attempted exercise of any of its rights or remedies under the Contract, including commissions and legal costs on a solicitor and client basis. 3.4 The Hirer must make all payments due under the Contract without set-off or deduction of any kind.