Article 7 - Term of payment

a. Principal is obliged to pay supplier within 3 days after the date of sending the invoice. No discount, extension or pay or settlement will be applicable. If invoices are overdue, principal is in breach without the supplier having to inform or remind the principal thereof.
b. If principals payment is overdue as mentioned in article 7a, principal is liable for payment of Dutch statutory commercial interest over the full amount as per date of invoice for each month or part of each month in which principal did not fully comply with its obligation.
c. If principals payment is overdue as mentioned in article 7a, principal is liable for extra judicial costs, legal and court costs, on addition to interest as mentioned article 7b.
d. Extrajudicial (collection) costs amounts to a total of 15 v% of the invoice amount.
e. In case of extra work, supplier is obliged to mention the amount of extra work and the extra costs to principal in writing. Principal must explicitly agree with extra work before supplier can fulfil the order.