NON-PAYMENT OF PREMIUM OR FEES a) In the event of non-payment of either the first premium or a single one-off premium (fully or partly) and upon our request and written reminder for payment, We are entitled to cancel this Contract pursuant to § 38, par 1 of the Austrian Insurance Contract Act. Unless complete payment of the premium has been made, We are not obliged to indemnify according to § 38, par 2 of the VersVG. If You do not pay any subsequent premium completely within a period of 2 weeks after receipt of Our written reminder, We are entitled to cancel this Contract without notice in accordance with § 39, par 3 of the Austrian Insurance Contract Act. According to § 39, par 2 VersVG, We are not obliged to indemnify should any claim occur after the expiry of this period. We shall also be entitled to invoice You late payment interests equal to the legal interest rate in force on the due date. We also reserve the right to deduct the amounts due from the deposit and/or terminate the Contract.
NON-PAYMENT OF PREMIUM OR FEES. In case of non-payment of the premium, in whole or in part, within the prescribed time, cover shall be forfeited for all Debts resulting from Deliveries made during the period in relation to which the premium was not paid. We shall also be entitled to invoice You late payment interest equal to the Reserve Bank of Australia Cash Rate in force on the due date.
NON-PAYMENT OF PREMIUM OR FEES a) In case of non-payment of the premium, in whole or in part, within the prescribed time, cover shall be forfeited for all Debts resulting from Deliveries made during the period in relation to which the premium was not paid. We shall also be entitled to invoice You i) late payment interest equal to 2 times the legal interest rate in force on the due date and ii) a fixed penalty of 500 euros for each of our invoice not fully paid on the due date to cover our collection costs. We also reserve the right to deduct the amounts due from the deposit and/or terminate the Contract.
NON-PAYMENT OF PREMIUM OR FEES a) In case of non-payment of the premium or fees, in whole or in part, within the prescribed time, or if You do not comply with any other conditions precedent in this Contract We may cancel the cover, declare the cover void, change the terms of the cover or refuse to deal with whole or part of any Debt (or other claim)..
