Late Payment Compensation definition
Late Payment Compensation means the fixed sum that We are entitled to charge You in respect of each individual Qualifying Debt, in accordance with the Regulations.
Late Payment Compensation means the fixed sum that we are entitled to charge you in respect of each individual Qualifying Debt (defined below), in accordance with section 5A of the Regulations (defined below).
Late Payment Compensation means costs and expenses incurred by the Bank calculated based on the BNM Guidelines on Late Payment Compensation for Islamic Banking Institutions (including any alteration, modification, supplement and substitution thereof) due to late payment by Customer of the Instalment/Payment due.
Examples of Late Payment Compensation in a sentence
All late payments will be subject to Late Payment Compensation per invoice pursuant to the Late Payment of Commercial Debts Act 1998 and all subsequent amendments.
Notwithstanding the amount of Late Payment Compensation (Ta’widh) charged, it is expressly acknowledge and agreed that the said amount of Late Payment Compensation (Ta’widh) shall not be further compounded.
More Definitions of Late Payment Compensation
Late Payment Compensation means, in relation to any amount which a Paying Party fails to pay to the Receiving Party on the due or agreed date for payment thereof, the compensation amount for the period from the due or agreed date until the date of actual payment by the Paying Party or recovery of the unpaid amount by the Receiving Party (after as well as before judgment) (the “Relevant Period”) in respect of an unpaid amount for any day in the Relevant Period shall be determined according to the following formula:
Late Payment Compensation means the fixed sum that we are entitled to charge you in respect of each individual Qualifying Debt (defined