Common use of Late Payment Charges Clause in Contracts

Late Payment Charges. (a) If you do not pay your Account in full upon receipt or by the due date as set out in the monthly statement, you are in default. Therefore, you acknowledge that we may suspend or cancel your charge privileges, and you agree that late payment charges may be incurred as follows: (i) If you do not pay the full closing balance by the due date on your monthly statement, the unpaid balance will be identified as an ‘Overdue’ amount. (ii) Late payment charges will be incurred on any overdue amount which is identified in a statement and will be billed in that statement, except for BTA which will be billed in the next statement. (iii) An overdue amount may include any unpaid late payment charges billed on previous statements. (iv) The amount payable is set out in the attached Fee Schedule.

Late Payment Charges. (a) If you do not pay your Account in full upon receipt or by the due date as set out in the monthly statementStatement, you are in default. Therefore, you acknowledge that we may suspend or cancel your charge privileges, and you agree that late payment charges may be incurred as follows: (i) If you do not pay the full closing balance by the due date on your monthly statementStatement, the unpaid balance will be identified as an ‘Overdue’ amount. (ii) Late payment charges will be incurred on any overdue amount which is identified in a statement Statement and will be billed in that statementStatement, except for BTA which will be billed in the next statementStatement. (iii) An overdue amount may include any unpaid late payment charges billed on previous statementsStatements. (iv) The amount payable is set out in the attached Fee Schedule.

Late Payment Charges. (a) If you do not pay your Account in full upon receipt or by the due date as set out in the monthly statement, you are in default. Therefore, you acknowledge that we may suspend or cancel your charge privileges, and you agree that late payment charges may be incurred as follows: (i) If you do not pay the full closing balance by the due date on your monthly statement, the unpaid balance will be identified as an ‘Overdue’ amount. (ii) Late payment charges will be incurred on any overdue amount which is identified in a statement and will be billed in that statement, except for BTA which will be billed in the next statement. (iii) An overdue amount may include any unpaid late payment charges billed on previous statements. (iv) The amount payable is set out in the attached Fee Schedule.