Payment Terms

 
 
 

4. Fees And Other Consideration

4.1 In return for Adroit performing the Services, Client will pay Adroit the Fees. All Fees are quoted exclusive of GST and the Client will pay Adroit GST in addition to the stated Fees.

4.2 Adroit shall tender an invoice to the Client for the applicable Fees as and when they are due. Unless otherwise stated in Schedule Three, all invoices are payable within 7 days of the date of invoice.

4.3 Client will reimburse Adroit for all out of pocket costs and expenses reasonably incurred by Adroit in performing the Services, upon receipt of invoices in respect of such expenses from Adroit. All invoices for expense reimbursement must be paid by the Client within 7 days.

4.4 The Client shall make payment of all Fees and other amounts in cleared funds without set-off, withholding or deduction of any kind into such bank account as Adroit may nominate in writing from time to time.

4.5 If the Client does not make payment of any Fees or other amounts by the due date required under this Agreement it shall pay to Adroit default interest at the rate 5% per annum above the then current rate charged by Adroit’s primary banker’s for unsecured business overdraft facilities (the “Default Rate”). Interest on any overdue amount shall accrue on a daily basis at the Default Rate (both before and after judgment) from the due date until the date on which payment of the relevant amount is made in full. Default interest shall be payable on demand.

4.6 Without limitation to Adroit’s other rights under this Agreement or at law, the Client acknowledges that Adroit reserves the right to cease performance of the Services for the duration of any period in which a payment by the Client to Adroit is overdue. The Client will be solely responsible for any delays in meeting the Development Timetable that result for any such cessation of the Services.