Common use of Charges for late payment Clause in Contracts

Charges for late payment. 14.1 If you fail to pay the Licence Fee at the times and in the manner specified, the College is entitled: a. to damages for breach of the Licence; and b. where the payment is more than 14 days overdue, to levy interest by applying, in relation to each day after the due date for which the Licence Fee remains unpaid, an annual percentage rate of 3% above the Bank of England base rate to the amount of Licence Fee that remains unpaid at the end of that day. 14.2 The charges referred to in clause 14.1.a and other charges in this Licence (other than the Licence Fee) will be fixed at amounts which the College considers reflect the cost or loss to the College. If a student considers that, in his or her particular case, a charge made to them does not reasonably reflect that cost or loss in that instance, the student may appeal that charge by referring it to the Head of Residential Services & Support Operations and, if still unresolved, to the Director of Campus Services.

Charges for late payment. 14.1 If you fail to pay the Licence Fee in full at the times and in the manner specified, the College is entitled: a. 14.1.1 to damages for breach of the Licence; and b. 14.1.2 where the payment Licence Fee is more than 14 days overdue, to levy interest by applying, in relation to each day after the due date for which the Licence Fee remains unpaid, an annual percentage rate of 3% above the Bank of England base rate to the amount of Licence Fee that remains unpaid at the end of that day. 14.2 The charges referred to in clause 14.1.a 14.1.1 and other charges in this Licence (other than the Licence Fee) will be fixed at amounts which the College considers reflect the cost or loss to the College. If a student considers that, in his or her particular case, a charge made to them does not reasonably reflect that cost or loss in that instance, the student may appeal that charge by referring it to the Head of Residential Services & Support Operations and, if still unresolved, to the Director of Campus Services.

Charges for late payment. 14.1 If you fail to pay the Licence Fee at the times and in the manner specified, the College is entitled: a. 14.1.1 to damages for breach of the Licence; and b. 14.1.2 where the payment is more than 14 days overdue, to levy interest by applying, in relation to each day after the due date for which the Licence Fee remains unpaid, an annual percentage rate of 3% above the Bank of England base rate to the amount of Licence Fee that remains unpaid at the end of that day. 14.2 The charges referred to in clause 14.1.a 14.1.1 and other charges in this Licence (other than the Licence Fee) will be fixed at amounts which the College considers reflect the cost or loss to the College. If a student considers that, in his or her particular case, a charge made to them does not reasonably reflect that cost or loss in that instance, the student may appeal that charge by referring it to the Head of Residential Services & Support Operations and, if still unresolved, to the Director of Campus Services.