Common use of Settlement Procedure Clause in Contracts

Settlement Procedure. Proximus will prepare a monthly invoice for calls registered during the invoice period made by the visiting subscribers in the visited PMN Operator. . The invoice period shall in general be a calendar month. However, a single transfer covering a month end shall not be divided between two invoices. The invoice has to be sent by the 15th of the following month at latest. A fax can serve as the first information. The invoice should adequately enable the Operator to identify the TAP records. Each invoice amount will be expressed both in SDR as well as in Euros Proximus will issue as appropriate credit notes and correction invoices to compensate for agreed changes to or agreed errors in the basic inter PMN Operator invoices. The threshold amount for issuing the Credit Note is 50 SDR. In any case, a Credit Note shall be issued at least once a year before the year-end. Payment shall be made in the creditors national currency calculated from the net SDR balance obtained by the netting process. Conversion from SDR into the currency of payment shall be made at the pegged rate quoted by the IMF on the 23rd of the month preceding the invoice period. If this is a public holiday and the exchange rate is not quoted the currency is pegged using the previous day. In the event that no exchange rate is quoted for the previous day as well, the first available quoted rate should be taken, but not exceeding 5 calendar days prior to the 23rd of the month as defined in Permanent Reference Document BA.11. Payment by the debtor shall be made within 30 days from the date of the invoice with the later date. If the debtor does not pay the net balance by the due date for payment then the creditor shall have the right to charge its normal interest rate on the overdue amount from the due date for payment until payment is made. The normal interest rate for the Party concerned is: 8% above Euribor three-monthly rate base lending rate (from time to time in force) in the case where Proximus is the creditor; Changes in time schedules concerning the exchange of invoices and settlement periods shall be fixed three months before implementation at the latest. All enquiries and complaints concerning international invoicing shall be done through points of contact as defined in Annex I. The Operator shall pay any Value Added Tax (VAT) or other similar tax in accordance with the laws of the Proximus's country. The invoice amount has to include and specify all taxes and duties levied in the country of the Proximus. In case the VAT recovery is possible in the country of the Proximus, the VAT registration number has to be shown on the invoice and the address of the VAT office which deals with enquiries and claims referring to VAT refunding has to be exchanged bilaterally. Where bank fees occur, any such expenses imposed in the debtor country shall be borne by the debtor and expenses imposed in the creditor country, including payment expenses imposed by intermediate banks in third countries, shall be borne by the creditor.

Settlement Procedure. Proximus TANGO will prepare a monthly invoice for calls registered during the invoice period made by the visiting subscribers in the visited PMN Operator. The settlement procedure for SMS Interworking comes into force from the starting commercial date of the SMS Interworking Addendum signed and exchanged between the Parties. The invoice period shall in general be a calendar month. However, a single transfer covering a month end shall not be divided between two invoices. The invoice has to be sent by the 15th of the following month at latest. A fax can serve as the first information. The invoice should adequately enable the Operator to identify the TAP records. Each invoice amount will be expressed both in SDR as well as in Euros Proximus Each Party will issue as appropriate credit notes and correction invoices to compensate for agreed changes to or agreed errors in the basic inter PMN Operator invoices. The threshold amount for issuing the Credit Note is 50 SDR. In any case, a Credit Note shall be issued at least once a year before the year-end. The invoice amounts (and credit note amounts if appropriate) for the two directions shall be offset against each other and the net SDR balance shall be paid by the debtor. Payment shall be made in the creditors national currency calculated from the net SDR balance obtained by the netting process. Conversion from SDR into the currency of payment shall be made at the pegged rate quoted by the IMF on the 23rd of the month preceding the invoice period. If this is a public holiday and the exchange rate is not quoted the currency is pegged using the previous day. In the event that no exchange rate is quoted for the previous day as well, the first available quoted rate should be taken, but not exceeding 5 calendar days prior to the 23rd of the month as defined in Permanent Reference Document BA.11. Payment by the debtor shall be made within 30 days from the date of the invoice with the later date. If the debtor does not pay the net balance by the due date for payment then the creditor shall have the right to charge its normal interest rate on the overdue amount from the due date for payment until payment is made. The normal interest rate for the Party concerned is: 8% above Euribor three-monthly rate base lending rate (from time to time in force) in the case where Proximus TANGO is the creditor; Changes in time schedules concerning the exchange of invoices and settlement periods shall be fixed three months before implementation at the latest. All enquiries and complaints concerning international invoicing shall be done through points of contact as defined in Annex I. The Operator shall pay any Value Added Tax (VAT) or other similar tax in accordance with the laws of the ProximusTANGO's country. The invoice amount has to include and specify all taxes and duties levied in the country of the ProximusTANGO. In case the VAT recovery is possible in the country of the ProximusTANGO, the VAT registration number has to be shown on the invoice and the address of the VAT office which deals with enquiries and claims referring to VAT refunding has to be exchanged bilaterally. Where bank fees occur, any such expenses imposed in the debtor country shall be borne by the debtor and expenses imposed in the creditor country, including payment expenses imposed by intermediate banks in third countries, shall be borne by the creditor.