Common use of Payment Deadline Clause in Contracts

Payment Deadline. Invoices or credit notes are payable/credited by Parties within thirty (30) days following the date they are received. Receipt of the invoice by [ARP] is considered to have taken place three (3) days on which they were sent. If the Parties fail to pay all or some of the amounts covered by the invoices and credit notes within the period of thirty-three (33) days, interest for late payment will be charged on the sums due at a rate set in accordance to Article 5 of the Act of 2 August 2002. This interest shall be due from the 33rd day after the date of which the invoice or credit note was sent out until invoice or credit has been paid in full. Notwithstanding their right to reimbursement of court costs in accordance with the Judicial Code, the Parties are then also entitled to the damages provided for in Article 6 of the Act of 2 August 2002. The provisions stated above in no way detract from the Parties’ other rights pursuant to applicable laws and regulations and in accordance with the provisions of the Contract.

Payment Deadline. Invoices or credit notes are payable/credited by Parties within thirty (30) days following the date they are received. Receipt of the invoice by [ARP] ARP is considered to have taken place three (3) days after the date on which they were it was sent. If the Parties fail to pay all or some of the amounts covered by the invoices and credit notes within the period of thirty-three (33) days, interest for late payment will be charged on the sums due at a rate set in accordance to with Article 5 of the Act of 2 August 2002. This interest shall be due from the 33rd day after the date of which the invoice or credit note was sent out until the invoice or credit has been paid in full. Notwithstanding their right to reimbursement of court costs in accordance with the Judicial Code, the Parties are then also entitled to the damages provided for in Article 6 of the Act of 2 August 2002. The provisions stated above in no way detract from the Parties’ other rights pursuant to applicable laws and regulations and in accordance with the provisions of the Contract.