Payment Terms and Conditions
Invoices sent by our Belgian Entity:
Payment Due Date: All invoices must be settled by their specified due date.
Late Payment Interest: Any invoice that remains unpaid from the first calendar day following the due date shall automatically and without prior notice incur late-payment interest at a rate of 1% per started month of delay. Each month of delay is charged in full.
Fixed Recovery Fee: As soon as an invoice becomes overdue, a fixed recovery fee of €40 will be charged to cover administrative collection costs, in accordance with Belgian law.
Additional compensation in case of formal recovery: If formal recovery measures become necessary (including transfer to a lawyer, bailiff, or collection agency), an additional compensation fee equal to 15% of the outstanding principal amount (with a minimum of €500) shall be charged to cover recovery and legal costs.
Automatic applicability: All penalties and fees described above apply automatically, without the need for a formal notice of default.
Invoice Disputes: Any disputes regarding the invoice must be submitted via registered mail within 8 days of receipt.
Jurisdiction: Any legal disputes will be exclusively handled by the courts of Mechelen, Belgium.
Language: All legal proceedings and documentation must be conducted in Dutch, as required by the legal jurisdiction of Flanders, Belgium.
Governing Law: This agreement shall be governed by and construed in accordance with the laws of Belgium.
Acceptance of Terms: By using our services or paying the invoice, you agree to these payment terms and conditions.
Severability Clause: If any provision of these terms is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.
Modification of Terms: We reserve the right to update these terms and conditions. Any changes will be communicated and apply to all future transactions.
Invoices sent by our US Entity:
Payment Due Date: All invoices must be paid by the specified due date.
Late Payment Interest: Any invoice that remains unpaid from the first calendar day following the due date shall automatically and without prior notice incur late-payment interest at a rate of 1% per started month of delay. Each month of delay is charged in full.
Fixed Recovery Fee: As soon as an invoice becomes overdue, a fixed recovery fee of €40 will be charged to cover administrative collection costs, in accordance with Belgian law.
Additional compensation in case of formal recovery: If formal recovery measures become necessary (including transfer to a lawyer, bailiff, or collection agency), an additional compensation fee equal to 15% of the outstanding principal amount (with a minimum of €500) shall be charged to cover recovery and legal costs.
Automatic applicability: All penalties and fees described above apply automatically, without the need for a formal notice of default.
Invoice Disputes: Any disputes regarding the invoice must be communicated via registered mail within 8 days of receipt.
Jurisdiction: Any legal disputes related to these terms will be exclusively resolved in the courts of New York, USA.
Governing Law: This agreement is governed by and will be interpreted in accordance with the laws of the State of New York, USA.
Acceptance of Terms: By using our services or making payment on the invoice, you agree to these payment terms and conditions.
Severability Clause: If any provision of these terms is found to be invalid or unenforceable, the remaining provisions will remain in effect.
Modification of Terms: We reserve the right to update these terms and conditions. Any changes will be communicated and will apply to all future transactions.