5. Charges and Payment

5.1  

The Charges for the Services shall be calculated on a time and materials basis:

(a)  the Charges shall be calculated in accordance with the Supplier's fee rates, as set out in its Specification;

5.2  

The Supplier shall invoice/acknowledge the Customer either by an on-line payment system, by emailing an electronic invoice/acknowledgement or by sending a paper invoice prior to the services being supplied

5.3  

The Customer shall pay each invoice submitted by the Supplier:

(a)  within 30 days of the date of the invoice; and

(b)  in full and in cleared funds to a bank account nominated in writing by the Supplier, and time for payment shall be of the essence of the Contract . Payment can also be by Debit or Credit Card.

5.4  

All amounts payable by the Customer under the Contract are exclusive of amounts in respect of value added tax chargeable from time to time (VAT) where VAT is applicable. Where any taxable supply for VAT purposes is made under the Contract by the Supplier to the Customer, the Customer shall, on receipt of a valid VAT invoice from the Supplier, pay to the Supplier such additional amounts in respect of VAT as are chargeable on the supply of the Services at the same time as payment is due for the supply of the Services.

5.5  

If the Customer fails to make a payment due to the Supplier under the Contract by the due date, then, without limiting the Supplier's remedies under clause 9, the Customer shall pay interest on the overdue sum from the due date until payment of the overdue sum, whether before or after judgment. Interest under this clause 5.6 will accrue on a daily basis at the rate of 4% per annum above the Bank of England Base Rate.  In any event the minimum payable shall be 4% per annum.

5.6  

All amounts due under the Contract shall be paid in full without any set-off, counterclaim, deduction or withholding (other than any deduction or withholding of tax as required by law).