Common use of Service Fees and Payment Terms Clause in Contracts

Service Fees and Payment Terms. You shall pay the Subscription Fees, which fees are inclusive of VAT, and which fees shall be paid in accordance with this Agreement. Billing of the Subscription Fees shall be subject to the selling date of the Equipment, and shall thereafter commence on the first day of every month. For the avoidance of any doubt, either the Annual Fee will be applicable to your subscription, which fee must be paid by yourself to the Company on an annual basis, or the Monthly Fee will be applicable to your subscription, which fee must be paid by yourself to the Company on a monthly basis. The applicable fee is indicated on the Subscription Form. Should a Monthly Fee be applicable to your subscription, you will be liable to pay 80% of the Monthly Fee from the date of delivery until 95% of the Equipment is transmitting data, which will be determined by the Company, whereafter you shall be liable to pay 100% of the Monthly fee without any deduction or set-off. You shall pay the Subscription Fee to the Company, and in respect of the Services, which Subscription Fee shall be in respect of the provision of the Services by the Company to you. You shall elect one of the following payment options for the Subscription Fee to the Company: Electronic funds transfer (“EFT”); or Debit order. The Subscription Fee shall be sent to your elected billing email address in the form of a tax invoice. Should you elect the debit order payment option: You shall complete the Debit Order Form, which form shall form part of the Agreement; All debit order payments shall be made in advance on the first day of each month, or annual period, whichever is applicable, and be made by way of direct debit order against your bank account, which details shall be provided by you on the Debit Order Form. Should you elect the EFT option, the Subscription Fee shall be payable within 5 (five) days from the date stipulated for payment in the tax invoice. Payment must be made to the account indicated on the tax invoice. The Company has the right to change the debit order date on reasonable notice to you. Take such action as provided for in clause 12; The Company shall give you 5 (five) days’ notice before the suspension of the Services in accordance with clause 5.12.5.

Service Fees and Payment Terms. 5.1. You shall pay the Subscription Fees, which fees are inclusive of VAT, and which fees shall be paid in accordance with this Agreement. 5.2. Billing of the Subscription Fees shall be subject to the selling date of the Equipment, and shall thereafter commence on the first day of every month. 5.3. For the avoidance of any doubt, either the Annual Fee will be applicable to your subscription, which fee must be paid by yourself to the Company on an annual basis, or the Monthly Fee will be applicable to your subscription, which fee must be paid by yourself to the Company on a monthly basis. The applicable fee is indicated on the Subscription Form. 5.4. Should a Monthly Fee be applicable to your subscription, and should a portion of the Equipment fail to work for reasons beyond your control, you will be liable to shall pay 80% (eighty percent) of the total Monthly Fee incurred during the first month, and thereafter you shall pay the total Monthly Fee incurred from the date of delivery until 95% of the Equipment is transmitting data, which will be determined by the Company, whereafter you shall be liable to pay 100% of the Monthly fee second month onwards and without any deduction or set-off. 5.5. You shall pay the Subscription Fee to the Company, and in respect of the Services, which Subscription Fee shall be in respect of the provision of the Services by the Company to you. 5.6. You shall elect one of the following payment options for the Subscription Fee to the Company: : 5.6.1. Electronic funds transfer (“EFT”); or or 5.6.2. Debit order. 5.7. The Subscription Fee shall be sent to your elected billing email address in the form of a tax invoice. 5.8. Should you elect the debit order payment option: : 5.8.1. You shall complete the Debit Order Form, which form shall form part of the Agreement; ; 5.8.2. All debit order payments shall be made in advance on the first day of each month, or annual period, whichever is applicable, and be made by way of direct debit order against your bank account, which details shall be provided by you on the Debit Order Form. 5.9. Should the debit order fail, the Company has the right to use any legal means necessary, including early debit order facilities to recover any and all amounts owing. 5.10. Should you elect the EFT option, the Subscription Fee shall be payable within 5 (five) days from the date stipulated for payment in the tax invoice. Payment must be made to the account indicated on the tax invoice. 5.11. The Company has the right to change the debit order date on reasonable notice to you. 5.12. Should you fail to make timeous payment of either the Subscription Fee, the Company may elect any number or all of the following: 5.12.1. Oblige you to perform all your obligations in terms of this Agreement; 5.12.2. Charge interest on the overdue amount at the prime interest rate plus 2% (two percent), compounded monthly, and which is calculated from the due date of payment to the date of actual payment to the Company of all monies due at such date; 5.12.3. Take such action as provided for in clause 12; 5.12.4. Inform any credit bureau of your default, after giving you 20 (twenty) days’ written notice of the Company’s intention of doing so; 5.12.5. Suspend the Services; and/or 5.12.6. Hand over your account to external debt collection agencies or attorneys for collection. 5.13. The Company shall give you 5 (five) days’ notice before the suspension of the Services in accordance with clause 5.12.5.