Common use of Late, Missed or Overdue Payments Clause in Contracts

Late, Missed or Overdue Payments. If a payment is not made for any reason (for example, if there are insufficient funds available in the nominated account), you will incur an administrative fee of $3. The administrative fee applies for every missed payment where an attempt is made to process a payment and it is returned by the relevant financial institution. Bolt Bikes reserves the right to charge interest at the rate of 2.5% above the Consumer Price Index as at that date on all amounts outstanding until paid in full. Bolt Bikes may also refer the matter to a debt collector or solicitor for collection of fees outstanding and repossession of the Bike, if applicable, in which case you will be liable to pay to Bolt Bikes all fees and charges payable in respect of the debt collector’s fees (including any commission), costs associated with recovering possession of the Bike and solicitor’s fees on a full indemnity basis.

Late, Missed or Overdue Payments. If a payment is not made for any reason (for example, if there are insufficient funds available in the nominated account), you will incur an administrative fee of $3£1.50. The administrative fee applies for every missed payment where an attempt is made to process a payment and it is returned by the relevant financial institution. Bolt Bikes reserves the right to charge interest at the rate of 2.5% above the Consumer Price Index as at that date on all amounts outstanding until paid in full. Bolt Bikes may also refer the matter to a debt collector or solicitor for collection of fees outstanding and repossession of the Bike, if applicable, in which case you will be liable to pay to Bolt Bikes all fees and charges payable in respect of the debt collector’s fees (including any commission), costs associated with recovering possession of the Bike and solicitor’s fees on a full indemnity basis.