Delayed Payment Charges definition
Examples of Delayed Payment Charges in a sentence
Minimum Retention Amount: 50% of applicable fees or Rs. 3000/-+applicable taxes/statutory levies whichever is higher 10 Delayed Payment Charges Additional Interest On Accrual Monthly A maximum of 24% P.
Any delay in payment of amounts payable on Due Dates (unless the Due Date is extended by USFB at its discretion through any grace period) shall render the Borrower liable to Delayed Payment Charges at the rate mentioned in Annexure B without prejudice to the other rights available to USFB.
Fees and other charges as applicable on application/ during the term of loan and penalty for delayed payments, are as under: Sr. No. Name of the Service Name of Fee/ Charges Levied When Payable Frequency Amount (SE) 1 Fees for Business Loan/ Personal Loan Processing Fees At Application Once _% of the loan amount plus Taxes and statutory levies and charges, as may be applicable from time to time 2 Delayed Payment Charges Additional Interest On Accrual Monthly A maximum of 24% P.A on the defaulted sum.
The payment of Delayed Payment Charges shall not absolve the Borrower of its obligations under this Agreement, including timely payment of Due Amount(s) and shall not affect any of the other rights of Lender including in respect of such default.
Further, acceptance of any payment without payment of Delay Payment Charges shall not be deemed to be a waiver by the Promoter of its right of charging such Delayed Payment Charges or of the other rights mentioned in ASL.
The payment of Delayed Payment Charges shall not absolve the Borrower of its obligations under this Agreement, including timely payment of Installment Date(s) and shall not affect any of the other rights of Lender including in respect of such default.