Payment Terms Contract Clause

Payment Terms

1. The Service Provider will issue invoices to the Customer on a monthly basis for the Services performed during the preceding month.

2. The Customer must pay all undisputed amounts within 30 days of the invoice date. If the Customer disputes any part of an invoice, it must pay the undisputed part by the due date.

3. If the Customer does not pay the Service Provider any undisputed amount by the due date, the Service Provider may charge interest at the rate of 2% per annum above the Reserve Bank of Australia's cash rate target from the due date until the amount is paid in full.

4. The Customer is responsible for any reasonable expenses that the Service Provider incurs in recovering amounts that the Customer owes, including legal fees and debt collection costs.

5. The Service Provider may suspend performance of the Services if the Customer has not paid an undisputed invoice within 14 days of its due date. The Service Provider must give the Customer at least 7 days' notice before suspending the Services.