Payment of Service Charges. (a) The Employer agrees to pay BCBSRI the fees set forth above as compensation for the services described in this Agreement (“Service Charges”). Service Charges shall be assessed for any month during which services are performed, and all Service Charges are due within 30 days of receipt of periodic invoice. (b) Interest and penalties may be imposed on overdue fees. In addition, BCBSRI shall have the right, but not the obligation, in its sole discretion to immediately take one or more of the following actions without any further notice to Employer in the event of untimely payments: (i) offset the outstanding amount due against any other Employer funds (other than Plans assets, as such term is defined by ERISA, to the extent ERISA is applicable) held by BCBSRI; (ii) stop processing Covered Benefits incurred on or after that date; or (iii) terminate the Agreement in accordance with the provisions of Article V. The Employer agrees to bear full responsibility for any reasonable charges incurred in the collection of unpaid invoices owed to BCBSRI. (c) BCBSRI may, in its discretion, accept on Employer’s behalf all or part of the applicable Service Charge from a third party upon written instruction from the Employer; but Employer will remain liable for all such Service Charges.
Appears in 4 contracts
Samples: Ancillary Administrative Services Contract, Ancillary Administrative Services Contract, Ancillary Administrative Services Contract
