Common use of Terms of Payments Clause in Contracts

Terms of Payments. Cash Discount of 1% 10th prox. net 25th. All payments must be in U.S. dollars. Any account having a balance due that is 30 days past due or has unauthorized payment deductions may be placed on a ’Credit Hold’ condition. Late payments on invoices shall bear interest at 1.5% per month or the highest rate allowed by applicable law, whichever is less. Seller shall be entitled to recover its costs of collection of any past due invoice, including court costs and reasonable attorneys’ fees.