Common use of Delayed payment Clause in Contracts

Delayed payment. Without prejudice to the provisions of Article 13.1 above, if Products and/or Services are not paid for by deadlines agreed between the Parties from time to time, the Supplier shall be entitled to default interest at the rate provided for by Article 5 of Legislative Decree 231/2002. If payment is delayed, the Supplier shall be entitled at any time to issue an invoice specifying any amounts accrued in the meantime by way of interest and costs. The Customer shall immediately pay the amount specified in this invoice. Where an invoice for interest and expenses is issued the Supplier may, at its sole discretion, offset any payments subsequently made by the Customer against the balance of this invoice and, only for the remainder, against payment for Products and/or Services supplied. If the Customer's default is repeated or serious, the Supplier may at its discretion suspend the delivery of Products or the performance of Services and/or refuse requests for further deliveries, and/or declare the contract automatically terminated in law.