Common use of PAYMENT TERMS Clause in Contracts

PAYMENT TERMS. 25.1 - In the event of non-payment, in whole or in part, for Goods or Services, penalties will be imposed at a rate of 1.5% per month of delay as from the due date indicated on the invoice. In addition to late payment interest, the Customer will be automatically liable - with respect to any sum (including the deposit) not paid on its due date - to pay fixed compensation of 40 Euros by way of recovery costs under Articles L. 441-6 paragraph 12 and D. 441.5 of the French Commercial Code. These penalties will be payable at the Supplier's simple request without the need for any prior formal notice. 25.2 - The Customer must reimburse all costs incurred as a result of the contentious recovery of the sums owed. 25.3 - Payments will be made at the latest within the time periods established by current laws and, unless expressly agreed between the parties, on the date indicated on the invoice after receiving proof of solvency.