Common use of Payment Penalties Clause in Contracts

Payment Penalties. In the event that the Client does not comply with the rates, amounts, or dates of pay provided in this Agreement, a late payment penalty will be charged as follows: The Client will pay a surcharge of 5% on the compensation amount for any late payment unless agreed to by both parties.

Payment Penalties. In the event that the Client does not comply with the rates, amounts, or payment dates of pay provided in this Agreement, a late payment penalty will be charged to Client as follows: The Client will pay a surcharge of 5% interest on the compensation amount for any late payment unless agreed to by both partiesat the annual interest rate of 24 percent.

Payment Penalties. In the event that the Client Customer does not comply with the rates, amounts, or payment dates of pay provided in this Agreement, a late payment penalty will be charged as follows: The Client o Late payments will pay incur a surcharge of 510% on the compensation amount for any late payment unless agreed to by both partiescharge per month or $25.00.