Common use of Payment and Interest Clause in Contracts

Payment and Interest. The Company payment terms are net 30 days. The Customer shall make all payments due hereunder in accordance with the terms of this agreement and as stated on our invoices or other notices of terms, without any right of offset or retention and without regard to any agreement The Customer may have with other parties. If The Customer fails to pay in full the invoice amount when due, The Customer agrees to pay interest on the unpaid balance from the date when due until paid in full at the rate selected by The Company, not to exceed the lesser of 18% per annum or the highest lawful rate, specifically including post judgment. The Customer agrees to pay any and all costs and expenses incurred by The Company in collecting from The Customer any past due amounts, including but not limited to reasonable attorney fees, court costs and collection agency fees. The Company may suspend deliveries during any period when The Customer has overdue balances or evidence of a changed financial condition.