Common use of Billing and Payment Methods Clause in Contracts

Billing and Payment Methods. 19.1 The Customer shall receive in paper or elec- tronic format a monthly statement for the outstand- ing balance, consisting of the claims arising from the Transactions processed in the past statement period, plus Interest Charges, Fees and outstanding amounts carried forward from earlier monthly state- ments. The indication of the balance on the monthly statement does not result in an objective novation of the debt. Unless otherwise agreed (i.e., in par- ticular, unless an installment facility was agreed on), the entire statement amount must be received by Swisscard by no later than the payment due date indicated on the monthly statement. In case of a DD arrangement, the DD shall be collected prior to the payment due date. Swisscard reserves the right not to send a statement if no Transactions occurred in the billing month and the balance is zero.