Terms of Payment
The terms stated are an essential feature of the contract and will be strictly complied with.
Otherwise than in the case of a pro-forma contract, payment shall be made not later than THIRTY days after the invoice date without deduction for discount or for any other reason and without deferment or set-off in respect of disputes or cross claims.
In the case of pro-forma contract, payment shall be made not less than FIVE working days before delivery is requires. All other conditions as per 3.2 shall apply.
Unless otherwise provided, all payments shall be in Sterling at our principal place of business in the United Kingdom. Should payments in a different currency be provided under the contract then in the event of a devaluation of such currency after the date of the contract any prices or charges shall be increased in proportion with the alteration in the parity rate between such currency and Sterling.
In the event of our not receiving payment for whatever reason on the due date calculated as in 3.2 above, then without prejudice to any other right that we may have, we shall be entitled to claim interest on the amount due accruing from the due date at the rate of 4% per annum above the Bank of England minimum lending rate current of that time.