The Charges for the Services shall be on a time and materials basis and shall be paid by the Customer in accordance with the terms set out in the Order.
If the terms of payment are not set out in the Order, the Charges shall be payable by the Customer, in full and in cleared funds to a bank account nominated in writing by FMG, within 30 days of receipt of an invoice submitted by FMG, and time for payment shall be of the essence of the Contract.
FMG reserves the right to increase its Charges, provided that such charges cannot be increased more than once in any 12 month period. FMG will give the Customer written notice of any such increase 1 month before the proposed date of the increase. If such an increase is not acceptable to the Customer, it shall notify FMG in writing within 2 weeks of the date of FMG's notice and FMG shall have the right without limiting its other rights or remedies to terminate the Contract by giving 2 weeks' written notice to the Customer.
All amounts payable by the Customer under the Contract are exclusive of amounts in respect of value added tax chargeable for the time being (VAT). Where any taxable supply for VAT purposes is made under the Contract by FMG to the Customer, the Customer shall, on receipt of a valid VAT invoice from FMG, pay to FMG 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.
Without limiting any other right or remedy of FMG, if the Customer fails to make any payment due to FMG under the Contract by the due date for payment (Due Date), FMG shall have the right to charge interest on the overdue amount at the rate of 4 per cent per annum above the then current Barclays Bank's base rate accruing on a daily basis from the Due Date until the date of actual payment of the overdue amount, whether before or after judgment and compounding quarterly.
The Customer shall pay all amounts due under the Contract in full without any deduction or withholding except as required by law and the Customer shall not be entitled to assert any credit, set-off, or counterclaim against FMG in order to justify withholding payment of any such amount in whole or in part. FMG may, without limiting its other rights or remedies, set off any amount owing to it by the Customer against any amount payable by FMG to the Customer.
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