Common use of PRICE & PAYMENT Clause in Contracts

PRICE & PAYMENT. Unless otherwise agreed: (a) the relevant price for the Products will be INEOS's price applicable on the date of loading; INEOS may notify Customer at any time before the date of loading of a variance in price of the Products because of an increase in cost of manufacturing, acquiring, or delivering the Products. Within 2 days after receipt of INEOS’ notice, Customer may object such variance in writing and request INEOS to maintain the original price or cancel its purchase order for the Products. (b) full payment must be received (without deduction for set off or counter claim unless INEOS shall have given its prior written approval) when due by electronic funds transfer to the account nominated by INEOS in the currency specified on the invoice. Funds must be received no later than the due date on INEOS’s invoice document. Late payments bear interest at 10% per annum from the due date until actual receipt. Notwithstanding the foregoing, all invoices for interest shall also include a liquidated damages charge of €500 (being a genuine pre-estimate of loss for the additional work, including administrative work, induced by the delay in payment); (c) if INEOS require, deliveries may be suspended until Customer provide acceptable security for payment or if any invoice is not paid when due, without prejudice to any other rights INEOS may have; (d) quoted prices do not include any Value Added Tax (or its equivalent), or any other taxes or charges, if applicable. Customer must promptly provide INEOS on request with all evidence required under local, national or EU laws to justify any request for exemption from VAT or other applicable taxes. Customer indemnifies INEOS against any tax, cost or penalty it may incur if the request for exemption is found not to be justified. (e) Where the price is determined by a formula, and variable values are not known, the most recently applied price shall be used as an interim price with subsequent readjustment.

PRICE & PAYMENT. Unless otherwise agreed: (a) the relevant price for the Products will be INEOS's price applicable on the date of loading; INEOS may notify Customer at any time before the date of loading of a variance in price of the Products because of an increase in cost of manufacturing, acquiring, or delivering the Products. Within 2 days after receipt of INEOS’ notice, Customer may object such variance in writing and request INEOS to maintain the original price or cancel its purchase order for the Products. (b) full payment must be received (without deduction for set off or counter claim unless INEOS shall have given its prior written approval) when due by electronic funds transfer to the account nominated by INEOS in the currency specified on the invoice. Funds must be received no later than the due date on INEOS’s invoice document. Late payments bear interest at 10% per annum from the due date until actual receipt. Notwithstanding the foregoing, all invoices for interest shall also include a liquidated damages charge of €500 (being a genuine pre-estimate of loss for the additional work, including administrative work, induced by the delay in payment); (c) if INEOS require, deliveries may be suspended until Customer provide acceptable security for payment or if any invoice is not paid when due, without prejudice to any other rights INEOS may have; (d) quoted prices do not include any Value Added Tax (or its equivalent), or any other taxes or charges, if applicable. Customer must promptly provide INEOS on request with all evidence required under local, national or EU laws to justify any request for exemption from VAT or other applicable taxes. Customer indemnifies INEOS against any tax, cost or penalty it may incur if the request for exemption is found not to be justified. (e) Where the price is determined by a formula, and variable values are not known, the most recently applied price shall be used as an interim price with subsequent readjustment.

PRICE & PAYMENT. Unless otherwise agreed: (a) the relevant price for the Products will be INEOS's price applicable on the date of loading; INEOS may notify Customer at any time before the date of loading of a variance in price of the Products because of an increase in cost of manufacturing, acquiring, or delivering the Products. Within 2 days after receipt of INEOS’ notice, Customer may object such variance in writing and request INEOS to maintain the original price or cancel its purchase order for the Products.; (b) full payment must be received (without deduction for set off or counter claim unless INEOS shall have given its prior written approval) when due by electronic funds transfer to the account nominated by INEOS in the currency specified on the invoice. Funds must be received no later than the due date on INEOS’s invoice document. Late payments bear interest at 10% per annum from the due date until actual receipt. Notwithstanding the foregoing, all invoices for interest shall also include a liquidated damages charge of €£500 (being a genuine pre-estimate of loss for the additional work, including administrative work, induced by the delay in paymentloss); (c) if INEOS require, deliveries may be suspended until Customer provide acceptable security for payment or if any invoice is not paid when due, without prejudice to any other rights INEOS may have; (d) quoted prices do not include any Value Added Tax (or its equivalent), or any other taxes or charges, if applicable. Customer must promptly provide INEOS on request with all evidence required under local, national or EU laws to justify any request for exemption from VAT or other applicable taxes. Customer indemnifies INEOS against any tax, cost or penalty it may incur if the request for exemption is found not to be justified. (ed) Where the price is determined by a formula, and variable values are not known, the most recently applied price shall be used as an interim price with subsequent readjustment. Seller reserves the right to apply surcharges to the invoiced prices to meet any exceptional requests from Customer. In each case, the amount of such a charge will be communicated in advance. Seller reserves the right to review the financial status of the Customer and if it has reasonable concerns that the Customer may be or become unable to meet its’ payment obligations it may reduce or withdraw any credit under this Contract. In this situation, Seller may require prepayment of some or all of the price, or the credit to be guaranteed by a form of security acceptable to seller. Any decision shall be communicated to the Customer in writing.

PRICE & PAYMENT. Unless otherwise agreed: (a) the The relevant price for the Products will be INEOS's INEOS SOLVENTS ’s price applicable on the date of loading; INEOS may notify Customer at any time before the date of loading of a variance in price of the Products because of an increase in cost of manufacturing, acquiring, or delivering the Products. Within 2 days after receipt of INEOS’ notice, Customer may object such variance in writing and request INEOS to maintain the original price or cancel its purchase order for the Products.; (b) full payment must be received (without deduction for set off or counter claim unless INEOS SOLVENTS shall have given its prior written approval) when due by electronic funds transfer to the account nominated by INEOS SOLVENTS in the currency specified on the invoice. Any deduction for set off of counter claim or assertion of right to withhold shall be null and void unless a) INEOS SOLVENTS shall have given its prior written approval or b) if such amounts are not in disputes or are legally binding. Funds must be received in the nominated bank account no later than the due date on INEOSINEOS SOLVENTS ’s invoice documentdocument or no later than the last banking day before the due date if that due date on INEOS SOLVENTS ’s invoice document or no later than the last banking day before the due date if that due date falls on a non-banking day. Late payments bear interest at 108% per annum above the base interest rate of Germany published by German federal bank from the due date until actual receipt. Notwithstanding the foregoing, all invoices for interest shall also include a liquidated damages charge of €500 (being a genuine pre-estimate of loss for the additional work, including administrative work, induced by the delay in payment); (c) if INEOS SOLVENTS require, deliveries may be suspended until Customer provide acceptable security for payment or if any invoice is not paid when due, without prejudice to any other rights INEOS SOLVENTS Köln GmbH may have; (d) quoted prices do not include any Value Added Tax (or its equivalent), or any other taxes or charges, if applicable. Customer must promptly provide INEOS SOLVENTS on request with all evidence required under local, national or EU laws to justify any request for exemption from VAT or other applicable taxes. Customer indemnifies INEOS SOLVENTS against any tax, cost or penalty it may incur if the request for exemption is found not to be justified. (e) Where the price is determined by a formula, and variable values are not known, the most recently recent applied price shall be used as an interim price with subsequent readjustment.

PRICE & PAYMENT. Unless otherwise agreed: (a) the relevant price for the Products will be INEOS's price applicable on the date of loading; INEOS may notify Customer at any time before the date of loading of a variance in price of the Products because of an increase in cost of manufacturing, acquiring, or delivering the Products. Within 2 days after receipt of INEOS’ notice, Customer may object such variance in writing and request INEOS to maintain the original price or cancel its purchase order for the Products.; (b) full payment must be received (without deduction for set off or counter claim unless INEOS shall have given its prior written approval) when due by electronic funds transfer to the account nominated by INEOS in the currency specified on the invoice. Funds must be received no later than the due date on INEOS’s invoice document. Late payments bear interest at 10% per annum from the due date until actual receipt. Notwithstanding the foregoing, all invoices for interest shall also include a liquidated damages charge of €EUR 500 (being a genuine pre-estimate of loss for the additional work, including administrative work, induced by the delay in paymentloss); (c) if INEOS require, deliveries may be suspended until Customer provide acceptable security for payment or if any invoice is not paid when due, without prejudice to any other rights INEOS may have; (d) quoted prices do not include any Value Added Tax (or its equivalent), or any other taxes or charges, if applicable. Customer must promptly provide INEOS on request with all evidence required under local, national or EU laws to justify any request for exemption from VAT or other applicable taxes. Customer indemnifies INEOS against any tax, cost or penalty it may incur if the request for exemption is found not to be justified. (ed) Where the price is determined by a formula, and variable values are not known, the most recently applied price shall be used as an interim price with subsequent readjustment. Seller reserves the right to apply surcharges to the invoiced prices to meet any exceptional requests from Customer. In each case, the amount of such a charge will be communicated in advance. Seller reserves the right to review the financial status of the Customer and if it has reasonable concerns that the Customer may be or become unable to meet its’ payment obligations it may reduce or withdraw any credit under this Contract. In this situation, Seller may require prepayment of some or all of the price, or the credit to be guaranteed by a form of security acceptable to seller. Any decision shall be communicated to the Customer in writing.

PRICE & PAYMENT. Unless otherwise agreed: (a) the relevant price for the Products will be INEOS's price applicable on the date of loading; INEOS may notify Customer at any time before the date of loading of a variance in price of the Products because of an increase in cost of manufacturing, acquiring, or delivering the Products. Within 2 days after receipt of INEOS’ notice, Customer may object such variance in writing and request INEOS to maintain the original price or cancel its purchase order for the Products. (b) full payment must be received (without deduction for set off or counter claim unless INEOS shall have given its prior written approval) when due by electronic funds transfer to the account nominated by INEOS in the currency specified on the invoice. Funds must be received no later than the due date on INEOS’s invoice document. Late payments bear interest at 10% per annum from the due date until actual receipt. Notwithstanding the foregoing, all invoices for interest shall also include a liquidated damages charge of €£500 (being a genuine pre-estimate of loss for the additional work, including administrative work, induced by the delay in payment); (c) if INEOS require, deliveries may be suspended until Customer provide acceptable security for payment or if any invoice is not paid when due, without prejudice to any other rights INEOS may have; (d) quoted prices do not include any Value Added Tax (or its equivalent), or any other taxes or charges, if applicable. Customer must promptly provide INEOS on request with all evidence required under local, national or EU laws to justify any request for exemption from VAT or other applicable taxes. Customer indemnifies INEOS against any tax, cost or penalty it may incur if the request for exemption is found not to be justified. (e) Where the price is determined by a formula, and variable values are not known, the most recently applied price shall be used as an interim price with subsequent readjustment.

PRICE & PAYMENT. Unless otherwise agreed: (a) the relevant price for the Products will be INEOS's price applicable on the date of loading; INEOS may notify Customer at any time before the date of loading of a variance in price of the Products because of an increase in cost of manufacturing, acquiring, or delivering the Products. Within 2 days after receipt of INEOS’ notice, Customer may object such variance in writing and request INEOS to maintain the original price or cancel its purchase order for the Products. (b) full payment must be received (without deduction for set off or counter claim unless INEOS shall have given its prior written approval) when due by electronic funds transfer to the account nominated by INEOS in the currency specified on the invoice. Funds must be received no later than the due date on INEOS’s invoice document. Late payments bear interest at 10% per annum from the due date until actual receipt. Notwithstanding the foregoing, all invoices for interest shall also include a liquidated damages charge of €£500 (being a genuine pre-estimate of loss for the additional work, including administrative work, induced by the delay in payment); (c) if INEOS require, deliveries may be suspended until Customer provide acceptable security for payment or if any invoice is not paid when due, without prejudice to any other rights INEOS may have; (d) quoted prices do not include any Value Added Tax (or its equivalent), or any other taxes or charges, if applicable. Customer must promptly provide INEOS on request with all evidence required under local, national or EU laws to justify any request for exemption from VAT or other applicable taxes. Customer indemnifies INEOS against any tax, cost or penalty it may incur if the request for exemption is found not to be justified. (e) Where the price is determined by a formula, and variable values are not known, the most recently applied price shall be used as an interim price with subsequent readjustment.