INTEREST ON LATE PAYMENTS definition

INTEREST ON LATE PAYMENTS. On invoices for fees (i.e. the Monthly Retainer) or reimbursements for which payment is not received within thirty (30) days, you agree to pay us simple interest, computed monthly, at one percent (1 percent) over the prime rate of interest in effect at Chase Manhattan Bank, in New York City, on the undisputed amount outstanding at the end of such 30-day period, until such payment is received. In the event of a disputed charge, you shall notify us in writing of the disputed amount and reason for the dispute, and you agree to pay all undisputed amounts owed while the dispute is under negotiation.
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INTEREST ON LATE PAYMENTS. The College shall make every reasonable effort to remit payment as required by this Service Agreement within thirty (30) days of its receipt of an invoice from the Contractor, if services have been fully rendered. However, the College shall not be held responsible for any late fees or interest resulting from delays in its remitting payment to the Contractor. INSTRUCTION FOR PREPARATION This form will be used in contracting for professional services with any individual, private company, or governmental agency. The appropriate xxxx, director, coordinator or other supervisor contracting for professional services will prepare this agreement in duplicate and forward both copies to the Office of Business and Finance. Items I thru IV will be completed prior to forwarding to the Office of Business and Finance. Item I, A must be completed fully, describing all services to be furnished, including any supplies and required reports. The rate of pay specified in item I, B includes all expenses of the contractor, including travel and subsistence. Official Course Number must be entered in Item I, D for Continuing Education Courses. Contractor’s federal identification number must be entered in the appropriate space in Section IV, A. All companies or business required to report employment taxes or give tax statements to employees are required to have a federal identification number. This is normally a (9) digit number starting with “56” and is listed as “56-XXXXXXX”. To obtain certificate of authority: write Secretary of State, Corporation Division, 000 X. Xxxxxxxxx Street, Raleigh, NC 00000-0000 or fax a form request to (000) 000-0000. Persons with INTERNET access may download the form from the Secretary of State’s website, xxxx://xxx.xxxxx.xx.xx/secstate/. INDEPENDENT CONTRACTOR QUESTIONNAIRE (TO BE FILLED OUT BY POTENTIAL CONTRACTOR) This questionnaire must be completed to determine if an individual is eligible to be an independent contractor and must be submitted to the Office of Business and Finance before any service is performed. All available information will be evaluated in the determination of status. You will be notified of the
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INTEREST ON LATE PAYMENTS. Interest payable on any overdue amounts under this Agreement is charged at a rate of % per annum or at the maximum rate enforceable under applicable legislation, whichever is lower. CONFIDENTIALITY: Confidential information (the "Confidential Information") refers to any data or information relating to the business of the Client which would reasonably be considered to be proprietary to the Client including, but not limited to, accounting records, business processes, and client records and that is not generally known in the industry of the Client and where the release of that Confidential Information could reasonably be expected to cause harm to the Client. The Contractor agrees that they will not disclose, divulge, reveal, report or use, for any purpose, any Confidential Information which the Contractor has obtained, except as authorized by the Client or as required by law. The obligations of confidentiality will apply during the Term and will survive indefinitely upon termination of this Agreement. All written and oral information and material disclosed or provided by the Client to the Contractor under this Agreement is Confidential Information regardless of whether it was provided before or after the date of this Agreement or how it was provided to the Contractor. RETURN OF PROPERTY: Upon the expiration or termination of this Agreement, the Contractor will return to the Client any property, documentation, records, or Confidential Information which is the property of the Client.
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Examples of INTEREST ON LATE PAYMENTS in a sentence

  • PENALTY AND INTEREST ON LATE PAYMENTS *Effective January 1, 2022 In the event that payments received are less that the total amount currently due, the interest shall be applied in relation to that portion of the current charges unpaid in its entirety.

  • INTEREST ON LATE PAYMENTS (State Agencies):See General Specification Clause 64.a. PAYMENT (State Facilities):Because of constantly increasing finance charges and other costs to the contractor, it is imperative that ordering agencies make every effort to process the vouchers for payment by the Comptroller within a reasonable period of time.

  • PAYMENTS AND INTEREST ON LATE PAYMENTS: Payment may only be made after the delivery and acceptance of goods or services.

  • PAYMENT ARREARS, INTEREST ON LATE PAYMENTS, REMINDER FEES AND COLLECTION EXPENSES1.

  • In the event funds are not appropriated or otherwise available for these services or goods, this Purchase Order Contract becomes void and of no effect after June 30.9. PAYMENTS AND INTEREST ON LATE PAYMENTS: Payment may only be made after the delivery and acceptance of goods or services.

  • INTEREST ON LATE PAYMENTS: _________________% per annum above the Interest Rate.

  • FOR ANY PAYMENTS TEN DAYS OR MORE OVERDUE, REGISTRY OPERATOR SHALL PAY INTEREST ON LATE PAYMENTS AT THE RATE OF 1.5% PER MONTH OR, IF LESS, THE MAXIMUM RATE PERMITTED BY APPLICABLE LAW.

  • Article Item TITLE 7‌‌‌‌ INTEREST ON LATE PAYMENTS CHAPTER 7 0 — INTEREST ON LATE PAYMENTS 7 0 0 Interest on late payments 7 0 0 0 Interest due on late payments into the accounts held with the treasuries of the Member States Legal basis Regulation (EU, Euratom) No 966/2012 of the European Parliament and of the Council of 25 October 2012 on the financial rules applicable to the general budget of the Union and repealing Council Regulation (EC, Euratom) No 1605/ 2002 (OJ L 298, 26.10.2012, p.

  • FOR ANY PAYMENTS TEN DAYS OR MORE OVERDUE, REGISTRY SHALL PAY INTEREST ON LATE PAYMENTS AT THE RATE OF 1.5% PER MONTH OR, IF LESS, THE MAXIMUM RATE PERMITTED BY APPLICABLE LAW.

  • INTEREST ON LATE PAYMENTS • Interest payable on any overdue amounts under this Agreement is charged at a rate of 2% monthly, 24.00% per annum or at the maximum rate enforceable under applicable legislation, whichever is lower.


More Definitions of INTEREST ON LATE PAYMENTS

INTEREST ON LATE PAYMENTS. If any amount payable on any of Borrowers Liabilities is not paid in full when due and provided an Event of Default has not occurred, Borrower with interest on such delinquent payment, from its due date until it is paid in full, at the same rate as then payable on the latest Advance made grower hereunder prior to such delinquency or at such rate as is otherwise agreed to by EAB in writing.
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Related to INTEREST ON LATE PAYMENTS

  • Late Payment Rate As defined in the Insurance Agreement.

  • Late Payment Fee means the excess of the Price Differential paid as a result of its calculation at the Post-Default Rate over the Price Differential as would have been calculated at the Pricing Rate.

  • Late Payment means any amount that is due and payable by law under a written procurement contract, without deferral, delay, or set-off under COMAR 21.02.07.03, and remains unpaid more than 45 days after an agency receives a Proper Invoice.

  • Interest-Only Period means the period from and including the first Borrowing Date and through and including the sixteenth (16th) Payment Date following the first Borrowing Date.

  • Interest Only Loan means a Mortgage Loan which only requires payments of interest for a period of time specified in the related Mortgage Note.

  • Late Payment Surcharge shall have the meaning ascribed thereto in Article 10.3.3 of this Agreement;

  • Default Interest Rate is two percent above the base lending rate of Barclays Bank PLC, as varied from time to time;

  • Late Payment Interest means and refer to interest on a particular Late Payment at the Default Rate.

  • Cash Interest Rate means the Federal Funds Effective Rate - the rate for that day opposite the caption “Federal Funds (Effective)” as set forth in the weekly statistical release designated as H.15 (519), or any successor publication, published by the Board of Governors of the Federal Reserve System.

  • Overdue Interest Rate means, with respect to any Class, the Interest Rate applicable to such Class.

  • Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.

  • Interest Differential is defined in Section 3.4.

  • Annual Interest Rate in accordance with the rate applicable to the equal instalment financing plan in effect on the conversion date, up to a maximum of 19.90%.

  • Compounded Daily XXXXX means the rate of return of a daily compound interest investment (with the daily Sterling Overnight Index Average as the Reference Rate for the calculation of interest) and will be calculated by the Principal Paying Agent (or such other party responsible for the calculation of the Rate of Interest, as specified in the applicable Final Terms Document) on the Interest Determination Date, as follows, and the resulting percentage will be rounded if necessary to the fourth decimal place, with 0.00005 being rounded upwards: where:

  • Accrued Interest means, with respect to Single Family Shared-Loss Loans, the amount of earned and unpaid interest at the note rate specified in the applicable loan documents, limited to 90 days.

  • Late Payment Charge means the charge that is applied when either Party fails to remit payment for any charges by the Bill Due Date, or if payment for any portion of the charges is received after the Bill Due Date, or if payment for any portion of the charges is received in funds which are not immediately available or received by either Party as of the Bill Due Date, or if either Party does not submit the Remittance Information.

  • Reference Interest Rate means the interest rate which is used as the basis for calculating any interest to be applied and which comes from a publicly available source which can be verified by both parties to a payment service contract;

  • Default Interest means interest chargeable in terms of this Agreement to unpaid amounts or outstanding obligations which interest shall be calculated, from the due date until date of payment, on a daily balance and compounded monthly in arrear at an annual rate of two percent (2%) above the prevailing, variable prime rate publicly quoted by ABSA Bank Limited from time to time.

  • Overdue Payment shall have the meaning specified in Section 4.03(a).

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • PIK Interest Rate means (a) in respect of any Interest Period, the Additional Tax Payer Protection Rate plus (b) in respect of any Interest Period ending on or prior to the first anniversary of the date hereof, the Adjusted LIBO Rate plus the Applicable Rate.

  • additional rate means the additional rate levied by the City of Cape Town on rateable properties within the designated boundaries of the Special Rating Area for purposes of raising funds for improving and upgrading that area, subject to any exemptions or permissible differentiation between categories of property, as contemplated in section 22(1) of the Rates Act, read with sections 8(1) and 12(2) of the By-Law;

  • Maximum Uncertificated Accrued Interest Deferral Amount With respect to any Distribution Date, the excess of (i) accrued interest at the Uncertificated REMIC II Pass-Through Rate applicable to REMIC II Regular Interest ZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC II Regular Interest ZZ minus the REMIC II Overcollateralization Amount, in each case for such Distribution Date, over (ii) the aggregate amount of Uncertificated Accrued Interest for such Distribution Date on the REMIC II Regular Interests (other than REMIC II Regular Interests AA, ZZ and IO), with the rate on each such REMIC II Regular Interest (other than REMIC II Regular Interests B-1, B-2, B-3 and B-4) subject to a cap equal to the least of (x) the One-Month LIBOR Pass Through Rate for the Corresponding Certificate, (y) 11.00% per annum and (z) the Net WAC Cap Rate for the REMIC III Regular Interest the ownership of which is represented by the Corresponding Certificate for the purpose of this calculation for such Distribution Date, and with the rate on each of the REMIC II Regular Interests B-1, B-2, B-3 and B-4 subject to a cap equal to the lesser of (i) the per annum fixed rate specified in the definition of “Pass-Through Rate” for the Corresponding Certificate, and (ii) the related Net WAC Cap Rate for the REMIC III Regular Interest the ownership of which is represented by the Corresponding Certificate for the purpose of this calculation for such Distribution Date; provided, however, that solely for this purpose, the related cap with respect to each REMIC II Regular Interest (other than REMIC II Regular Interests AA, ZZ, B-1, B-2, B-3, B-4 and IO) shall be multiplied by a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.

  • Compounded Interest shall have the meaning set forth in Section 4.1.

  • Adjusted Interest Rate is defined in Section 1.2(e).