Common use of PAYMENT AND COSTS Clause in Contracts

PAYMENT AND COSTS. 12.1 The Client shall pay the Price to the Company, together with all reasonable travel, accommodation and subsistence expenses incurred by or on behalf of the Company during performance of any of the Services away from the Company’s premises. 12.2 The Company may increase the Price on one occasion each Year. Any such increase shall not exceed the increase (expressed as a percentage) in the Retail Prices (all items) Index since the date of the SOC or since the date of the last increase (if any) in the Company’s charges, whichever is the later. If that index ceases to be published then the Company and the Client shall agree another comparable replacement index (such agreement not to be unreasonably withheld or delayed). 12.3 Value added tax (“VAT”) is to be paid by the Client at the prevailing rate on all sums due under the Agreement. All sums quoted in the Agreement are exclusive of VAT. 12.4 All sums due must be paid within 30 days of the date of the Company’s invoice. The Client shall pay interest and fixed sums in accordance with the Late Payment of Commercial Debts (Interest) Act 1998 on the late payment of any due amounts invoiced by the Company.