Common use of Late payment surcharges Clause in Contracts

Late payment surcharges. 9.1 In case the payment of bills of Transmission charges by the beneficiary or beneficiaries is delayed beyond a period of 7 working days from the issue of the xxxx i.e Due Date, late payment surcharge at the rate of 1.25 % per month on billed amount shall be levied on the amounts remained unpaid after the ‘Due Date’ in proportion to the number of days of delay after the ‘Due Date’. The late payment surcharge amount shall also be payable with the next xxxx.

Late payment surcharges. 9.1 In case the payment of bills of Transmission charges by the beneficiary or beneficiaries is delayed beyond a period of 7 working days from the issue of the xxxx bill i.e Due Date, late payment surcharge at the rate of 1.25 % per month on billed amount shall be levied on the amounts remained unpaid after the ‘Due Date’ in proportion to the number of days of delay after the ‘Due Date’. The late payment surcharge amount shall also be payable with the next xxxxbill.