Common use of Payment of Invoice Clause in Contracts

Payment of Invoice. In consideration of the Services hereunder, the Customer shall pay TCS the fees and expenses (“Service Charges”) as specified in Annexure C. TCS shall submit electronic invoices to Client as mentioned in Annexure- C. All invoices shall become due for payment within thirty (30) days from date of invoice. Any invoice remaining unpaid after the aforesaid period of thirty days shall be treated as debt owed by Client to TCS and TCS shall be entitled to recover it as a debt as aforesaid, with an interest of 2% per month for every month of default, from Client calculated from the date the payment became due until it is realized in full with interest. Without prejudice to the other rights available, TCS also reserves the right to withhold the provision of services till such time all the payments due to it under this Agreement have been made by the Client and any such withholding by TCS shall not be treated as breach by it of the provisions of this Agreement. The rates payable by Client to TCS under this agreement is exclusive of any and all tax, cess, duty or any other levy (excluding any income tax) by whatsoever name called. If any and all such sales tax, service tax or any other tax, levy or duty, by whatever name called without any limitation, is attracted to this transaction, then, TCS shall be reimbursed of the payment so made, if required to be made so by TCS. Such reimbursement shall be inclusive of any interest or any other sum, or both, paid by TCS as part and incidence thereof. The liability of Client under this clause shall not be coterminous with this agreement and shall continue at all times the payment is so required to be made by Client at any time.