Act of 2 August 2002 definition

Act of 2 August 2002 the Act of 2 August 2002 on payment delays in the payment of commercial transactions, as amended from time to time;
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Examples of Act of 2 August 2002 in a sentence

  • In the event of non-payment within the set term, interest on arrears equal to the reference interest rate, increased by eight percentage points, referred to in Article 5, second paragraph of the Act of 2 August 2002 on combating late payments in commercial transactions.

  • Pursuant to section 3.5.1(b) of the EB Operating Procedures, Euroclear Bank waives the statutory lien provided by section 31, §2 of the Act of 2 August 2002 with respect to all securities held by the EB Participant on behalf of clients, provided such securities are credited to a Securities Clearance Account separately and specifically identified in writing by the EB Participant as an account to which only client securities are credited.

  • If the invoice is not paid on the due date the outstanding amount shall produce an interest by law and without formal notice at a rate fixed by the European Central Bank, fixed by the Act of 2 August 2002 implementing the European Directive 2011/7/CE, plus seven percent and rounded upwards to half a percent.

  • Outstanding invoices that are due and payable will be increased, automatically and without notice of default, with late payment interest at the statutory rate as determined by the Belgian Act of 2 August 2002, until the debt is satisfied.

  • If Customer fails to pay on the due date, then Customer shall be obligated to pay, ipso jure and without prior notification, (i) interest for late payment according to the Belgian Act of 2 August 2002 on combating late payment in commercial transactions, unless otherwise agreed, and (ii) a fixed compensation amounting to 10% of the invoice amount as a damage provision without prejudice to any other rights of Seller caused by said payment failure.

  • In accordance with the Act of 2 August 2002 concerning the fight against late payment in commercial transactions, the non payment of an invoice shall result automatically as of the thirtieth (30th) calendar day following the due date and without any summons in the customer owing interest at the leading rate of the European Central Bank increased by seven percentage points rounded up to the higher half percent point.

  • The Act of 2 August 2002 on combating late payments in commercial transactions, as amended where applicable.

  • Pursuant to Section 3.5.1(b) of the EB Operating Procedures, Euroclear Bank waives the statutory lien provided by section 31, §2 of the Act of 2 August 2002 referred to in Section 12 above with respect to all securities held by the EB Participant on behalf of clients, provided such securities are credited to a Securities Clearance Account separately and specifically identified in writing by the EB Participant as an account to which only client securities are credited.

  • The applied commercial interest – in accordance with the Act of 2 August 2002 on compensation for delay in payment in commercial transactions – is owed from the day after the expiration date of payment.

  • These invoices will then be retroactive to the due date of the invoice(s) for the total Tariff for Imbalance and late- payment interest will be added in accordance with the provisions of the Act of 2 August 2002.

Related to Act of 2 August 2002

  • Act of 2010 means the Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010;

  • Act of 2002 means the Communications Regulation Act 2002 (No. 20 of 2002);

  • Act of 2014 means the Companies Act 2014;

  • Act of 2015 means the Children and Family Relationships Act 2015;

  • Act of 2007 means the Water Services Act 2007;

  • Act of 2001 means the Local Government Act 2001;

  • Act of 2004 means the Public Service Management (Recruitment and Appointments) Act 2004;

  • Act of 2006 means the Planning and Development (Strategic Infrastructure) Act 2006;

  • Act of 2005 means theSocial Welfare Consolidation Act 2005;

  • Act of 1999 means the Electricity Regulation Act 1999;

  • Act of 2000 means the Planning and Development Act 2000;

  • Act of 1997 means the Taxes Consolidation Act 1997;

  • Act of 1995 means the Consumer Credit Act 1995;

  • Act of 1992 means the Environmental Protection Agency Act 1992 (No. 7 of 1992);

  • Act of 1994 means the Solicitors (Amendment) Act 1994 [No.27 of 1994];

  • Loss Absorption Regulations means, at any time, the laws, regulations, requirements, guidelines, rules, standards and policies relating to minimum requirements for own funds and eligible liabilities and/or loss absorbing capacity instruments of the United Kingdom, the PRA, the United Kingdom resolution authority, the Financial Stability Board and/or of the European Parliament or of the Council of the European Union then in effect in the United Kingdom including, without limitation to the generality of the foregoing, any delegated or implementing acts (such as regulatory technical standards) adopted by the European Commission and any regulations, requirements, guidelines, rules, standards and policies relating to minimum requirements for own funds and eligible liabilities and/or loss absorbing capacity instruments adopted by the PRA and/or the United Kingdom resolution authority from time to time (whether or not such regulations, requirements, guidelines, rules, standards or policies are applied generally or specifically to the Company or to the Regulatory Group).

  • Atomic Energy Act means the Atomic Energy Act of 1954, as amended.

  • Council Directive means Council Directive 89/552/EEC of 3 October 1989 on the co-ordination of certain provisions laid down by law, regulation or administrative action in Member States concerning the pursuit of television broadcasting activities as amended by Directive 97/36/EC of the European Parliament and of the Council of 30 June 1997 and by Directive 2007/65/EC of the European Parliament and of the Council of 11 December 2007. A simplified and codified version of these Directives was introduced in 2010: the Audiovisual Media Services Directive 2010/13/EU.

  • Public or private safety agency means a unit of state or local government, a special purpose district, or a private firm, which provides or has the authority to provide firefighting, police, ambulance, emergency medical services or hazardous materials response.

  • U.S. Department of Energy means the Department of Energy established by Public Law 95-91, August 4, 1977, 91 Stat. 565, 42 U.S.C. 7101 et seq., to the extent that the department exercises functions formerly vested in the U.S. Atomic Energy Commission, its chairman, members, officers and components and transferred to the U.S. Energy Research and Development Administration and to the administrator thereof pursuant to Sections 104(b), (c) and (d) of the Energy Reorganization Act of 1974 (Public Law 93-438, October 11, 1974, 88 Stat. 1233 at 1237, effective January 19, 1975) and retransferred to the Secretary of Energy pursuant to Section 301(a) of the Department of Energy Organization Act (Public Law 95-91, August 4, 1977, 91 Stat. 565 at 577-578, 42 U.S.C. 7151,

  • MARPOL 73/78 means the International Convention for the Prevention of Pollution from Ships (1973) as modified by the Protocol of 1978 relating thereto;

  • NP 46-201 means National Policy 46-201 – Escrow for Initial Public Offerings.

  • National Ambient Air Quality Standards or “NAAQS” means national ambient air quality standards that are promulgated pursuant to Section 109 of the Act, 42 U.S.C. § 7409.