Unpaid Invoice Penalty
If any invoiced amount is not paid by the relevant payment date:
- Invoices over 30 days are subjected to 1.5% monthly finance charge calculated daily from the relevant payment date until the invoice amount is paid in full;
- You will reimburse any additional costs incurred by us including, by way of example only, any legal costs in enforcing our rights in respect of payment;
- We may cease work and hold any work, on any job we may have agreed to perform for you (whether related to the relevant invoice or otherwise).
Abandoned Account and Liquidation
If your account remains unpaid for a period greater than 60 days, then Acutrack reserves the right, at its sole discretion to reclassify your Account as an “Abandoned Account.” Additionally, any Account that remains unpaid for greater than 120 days will automatically be deemed an Abandoned Account. Upon an Account becoming an Abandoned Account, all rights to ownership of the Account Balance and inventory would then immediately be forfeited by you. Inventory will become immediately and irrevocably unavailable to you, and liquidation proceedings would begin. You agree the inventory would be free and clear of liability, and that you would assume any liability therefore. You would have no rights to the liquidation proceeds. You would also remain liable for any pending Usage Fees above and beyond the liquidation proceeds.