Common use of ACCOUNTING AND PAYMENTS TO YOU General Clause in Contracts

ACCOUNTING AND PAYMENTS TO YOU General. 4.1 We will keep such Records and in such currencies as We think fit. The Records will include: (A) A Client Account: showing what We owe You if all Unpaid Debts are Collected in full and to which We will debit all Fees. Amounts entered on this account will be treated as Prepayments to which Our Discount as applied to Your Current Account will apply. Such amounts may include amounts owed by You to Us whether or not under this Agreement including ones You owe which have been assigned to Us and amounts owed by You to any Bibby Group Company and We may set off all amounts so entered against sums We owe You. This applies whether at the relevant time such amounts are actually payable or payable potentially or conditionally and whether or not We guarantee payment of any amount owed by You to any Bibby Group Company. If unknown We may estimate and enter any such amount. By signing this Agreement You request and authorise Us to give any such guarantee; (B) A Current Account: showing what You owe Us or We owe You. Its balance may suggest that You have paid charges You owe to Us but this is only a notional position. We will not regard Fees as paid unless this Agreement ends with all other amounts You owe under it having also been paid as well as such Fees. Any amount unpaid when the Agreement ends will be regarded as representing unpaid Fees save to the extent that it exceeds Fees incurred during the period of the Agreement. No interest is due on any amount We owe. If You owe more than the amount worked out by applying the Prepayment Percentage and High Involvement to the Unpaid Approved Debts at any time You will pay Us the difference on demand; (C) A Sales Ledger Control Account: showing when We receive Collections (but when calculating Our Discount receipt will be deemed 6 Working Days after this). It may include the Price We expect to pay for a Debt but this may need altering to reflect the final Price We must pay. 4.2 We may at any time combine all Records into a single account and require You to pay the net balance to Us on demand. If such combination produces an amount We owe You We may pay this to You or withhold it against amounts You owe Us (and whether at the relevant time actually payable or payable potentially or conditionally). You will indemnify Us on demand for sums We pay under a guarantee We give a Bibby Group Company of sums You owe. 4.3 We reserve the right not to make any payments to You for any Debts while You are Insolvent or proceedings for or other steps towards Insolvency are threatened or pending against You. 4.4 You will be given such information regarding this Agreement and using such method as We agree with You. Unless You dispute any such information as inaccurate within 15 days of it being sent to You (or published on Our Electronic Facility) You cannot dispute it unless the error is obvious. A certificate of Our company secretary or one of Our directors of any account balance, any loss We suffer or amount You owe Us is conclusive unless containing an obvious or legal error.

ACCOUNTING AND PAYMENTS TO YOU General. 4.1 We will keep such Records and in such currencies as We think fit. The Records will include: (A) : A Client Account: showing what We owe You if all Unpaid Debts are Collected in full and to which We will debit all Fees. Amounts entered on this account will be treated as Prepayments to which Our Discount as applied to Your Current Account will apply. Such amounts may include amounts owed by You to Us whether or not under this Agreement including ones You owe which have been assigned to Us and amounts owed by You to any Bibby Group Company and We may set off all amounts so entered against sums We owe You. This applies whether at the relevant time such amounts are actually payable or payable potentially or conditionally and whether or not We guarantee payment of any amount owed by You to any Bibby Group Company. If unknown We may estimate and enter any such amount. By signing this Agreement You request and authorise Us to give any such guarantee; (B) ; A Current Account: showing what You owe Us or We owe You. Its balance may suggest that You have paid charges You owe to Us but this is only a notional position. We will not regard Fees as paid unless this Agreement ends with all other amounts You owe under it having also been paid as well as such Fees. Any amount unpaid when the Agreement ends will be regarded as representing unpaid Fees save to the extent that it exceeds Fees incurred during the period of the Agreement. No interest is due on any amount We owe. If You owe more than the amount worked out by applying the Prepayment Percentage and High Involvement to the Unpaid Approved Debts at any time You will pay Us the difference on demand; (C) ; A Sales Ledger Control Account: showing when We receive Collections (but when calculating Our Discount receipt will be deemed 6 Working Days after this). It may include the Price We expect to pay for a Debt but this may need altering to reflect the final Price We must pay. 4.2 We may at any time combine all Records into a single account and require You to pay the net balance to Us on demand. If such combination produces an amount We owe You We may pay this to You or withhold it against amounts You owe Us (and whether at the relevant time actually payable or payable potentially or conditionally). You will indemnify Us on demand for sums We pay under a guarantee We give a Bibby Group Company of sums You owe. 4.3 We reserve the right not to make any payments to You for any Debts while You are Insolvent or proceedings for or other steps towards Insolvency are threatened or pending against You. 4.4 You will be given such information regarding this Agreement and using such method as We agree with You. Unless You dispute any such information as inaccurate within 15 days of it being sent to You (or published on Our Electronic Facility) ), You cannot dispute it unless the error is obvious. A certificate of Our company secretary or one of Our directors of any account balance, any loss We suffer or amount You owe Us is conclusive unless containing an obvious or legal error.

ACCOUNTING AND PAYMENTS TO YOU General. 4.1 We will keep such Records and in such currencies as We think fit. The Records will include: (A) A Client Account: showing what We owe You if all Unpaid Debts are Collected in full and to which We will debit all Fees. Amounts entered on this account will be treated as Prepayments to which Our Discount as applied to Your Current Account will apply. Such amounts may include amounts owed by You to Us whether or not under this Agreement including ones You owe which have been assigned to Us and amounts owed by You to any Bibby Group Company and We may set off all amounts so entered against sums We owe You. This applies whether at the relevant time such amounts are actually payable or payable potentially or conditionally and whether or not We guarantee payment of any amount owed by You to any Bibby Group Company. If unknown We may estimate and enter any such amount. By signing this Agreement You request and authorise Us to give any such guarantee; (B) A Current Account: showing what You owe Us or We owe You. Its balance may suggest that You have paid charges You owe to Us but this is only a notional position. We will not regard Fees as paid unless this Agreement ends with all other amounts You owe under it having also been paid as well as such Fees. Any amount unpaid when the Agreement ends will be regarded as representing unpaid Fees save to the extent that it exceeds Fees incurred during the period of the Agreement. No interest is due on any amount We owe. If You owe more than the amount worked out by applying the Prepayment Percentage and High Involvement to the Unpaid Approved Debts at any time You will pay Us the difference on demand; (C) A Sales Ledger Control Account: showing when We receive Collections (but when calculating Our Discount receipt will be deemed 6 Working Days after this). It may include the Price We expect to pay for a Debt but this may need altering to reflect the final Price We must pay. 4.2 We may at any time combine all Records into a single account and require You to pay the net balance to Us on demand. If such combination produces an amount We owe You We may pay this to You or withhold it against amounts You owe Us (( and whether at the relevant time actually payable or payable potentially or conditionally). You will indemnify Us on demand for sums We pay under a guarantee We give a Bibby Group Company of sums You owe. 4.3 We reserve the right not to make any payments to You for any Debts while You are Insolvent or proceedings for or other steps towards Insolvency are threatened or pending against You. 4.4 You will be given such information regarding this Agreement and using such method as We agree with You. Unless You dispute any such information as inaccurate within 15 days of it being sent to You (or published on Our Electronic Facility) ), You cannot dispute it unless the error is obvious. A certificate of Our company secretary or one of Our directors of any account balance, any loss We suffer or amount You owe Us is conclusive unless containing an obvious or legal error.