Commercial debts definition

Commercial debts. Means intra group trading balances (purchase/sell of goods) that have reached their due date. Commercial loan Means intra group trading balances (purchase/sell of goods where normal payment date is in the future). Conversion rate Means the Sterling/Euro exchange rate fixed at or about 2.15 pm (Continental European Time) by the European Central Bank on the second Business Day prior to the date of Completion or, if there is no such fixing on the relevant day, the rate at or about 2.00 pm (London Time) on such day as determined by the Bank of England.
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Examples of Commercial debts in a sentence

  • Alternatively, if you are a commercial client, we reserve our right to charge you interest under the Late Payment of Commercial debts (Interest) ▇▇▇ ▇▇▇▇ at 8% pa above the Bank of England’s base rate.

  • We may charge interest for delayed payment, in line with The Late Payment of Commercial debts (Interest) Act 1998 or the maximum interest rate permitted by applicable law if lower.

  • Alternatively, if you are a commercial client, we reserve our right to charge you interest under the Late Payment of Commercial debts (Interest) Act 1988 at 8% pa above the Bank of England’s base rate.

  • Invoices or part invoices that remain unpaid 30 days after payment terms will be subject to interest and/or fixed fees under The Late Payment of Commercial debts (Interest) Act 1998 as supplemented and amended by the Commercial Debt Regulations 2002.

Related to Commercial debts

  • Bad debts means amounts considered to be uncollectible from

  • Financial Debt means a debt along with interest, if any, which is disbursed against the consideration for the time value of money and includes—

  • Secured Debts shall refer to any and all direct or indirect losses and loss of projectable benefits as may be suffered by the Pledgee as a result of any Event of Default (as defined below) of the Pledgor and/or the Domestic Company; and all costs as may be incurred by the Pledgee in connection with its enforcement of the performance of the Contractual Obligations by the Pledgor and/or the Domestic Company and the costs of realization of the Pledge.

  • Banking Product Obligations means, as applied to any Person, any direct or indirect liability, contingent or otherwise, of such Person in respect of any treasury, depository and cash management services, netting services and automated clearing house transfers of funds services, including obligations for the payment of fees, interest, charges, expenses, attorneys’ fees and disbursements in connection therewith.

  • standards of generally recognised accounting practice means an accounting practice complying with standards applicable to municipalities or municipal entities as determined by the Accounting Standards Board