Common use of PAYMENT TERMS Clause in Contracts

PAYMENT TERMS. Payments must be made in compliance with the currency, terms and modalities as indicated in the proforma/final invoice. Should payments fail to be made within the agreed terms, interest fees are applicable to the customer as set by the Law Decree 9.10.2002 No. 231. In case payments are overdue, Fadini reserves the right to hold back orders and stop deliveries without notice and no refund claims for damage are accepted. Payments, in the terms as agreed by the parties from time to time, are meant to be valid only if made by the customer in respect of said terms and time and are considered as accomplished once they are finally credited on Fadini account with the designated bank. Payments made under terms and modalities other than those indicated, are at own risk of the customer.