Common use of Item 3 Interest Clause in Contracts

Item 3 Interest. Owner/Distributor may charge interest at a rate equal to the Small Business Variable Small Overdraft Indicator Lending Rate published by the Reserve Bank of Australia from time to time plus 3%, calculated daily for:

Item 3 Interest. Owner/Distributor may charge interest at a rate equal to the Small Business Variable Small Overdraft Indicator Lending Rate published by the Reserve Bank of Australia from time to time plus 3%, calculated daily for:daily, for any amounts due but unpaid for more than 30 days.