Common use of FEES AND CURRENCY Clause in Contracts

FEES AND CURRENCY. 11.1. Fees for Clients registered in Cyprus and other countries that fall under the Company’s cross border activities are set out in Schedule of Fees document as posted online on Oro Pay’s website (and as amended from time to time). Oro Pay will notify you of any fees that relate to services not indicated in Schedule of Fees (if any) at the point where the service is offered. 11.2. Oro Pay does not currently offer currency conversion services. Should it do so in the future this segment will be updated accordingly. 11.3. Fees are quoted exclusive of VAT (Value Added Tax). In case Value Added Tax or any other sales tax is or becomes chargeable, Oro Pay will add such tax to the amount payable but shall, where required, provide information on the net amount, the amount of tax, and the tax rate applied. 11.4. Any fee payable by the Client shall be deducted from the Client Account balance. If the Client Account balance is insufficient, or the Client Account balance becomes negative, Oro Pay reserves the right to invoice the Client for any shortfall. 11.5. Where Oro Pay is unable to deduct any fees or other monies payable by the Client from the balance of the Client Account, Oro Pay shall issue an invoice for the amount owed. Invoices are payable within fifteen days of the date of the invoice. In case of overdue payments, Oro Pay reserves the right to (i) charge interest at the EURIBOR rate plus 4% with a minimum charge of 4% (accruing daily); and/or (ii) terminate this Agreement with immediate effect by giving notice to the Client.