Common use of INTEREST ON UNPAID MONIES Clause in Contracts

INTEREST ON UNPAID MONIES. You are to pay interest to us on any monies due and payable under this agreement, and on any judgment in our favour in an action arising from the agreement until all outstanding monies, including interest are paid in full. The rate of interest is at a rate equal to the Commonwealth Bank of Australia’s monthly overdraft index rate on the amount of any account that is not paid within thirty (30) days of the date of the account.

INTEREST ON UNPAID MONIES. You are to pay interest to us on any monies due and payable under this agreement, and on any judgment judgement in our favour in an action arising from the agreement until all outstanding monies, including interest are paid in full. The rate of interest is at a rate equal to the Commonwealth Bank of Australia’s monthly overdraft index rate on the amount of any account that is not paid within thirty (30) days of the date of the account.