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Criterium-Liszkay Standard Payment Terms and Conditions

Payment of each invoice is due upon presentation of our report unless credit terms have been established and are included in our project agreement. Unless otherwise agreed to in writing, invoices issued to clients with established credit will be due within 10 days from date of invoice. Failure to pay invoices within the allotted time period will constitute a breach of contract and may result in suspension of work until such time as all overdue payments are made in full. Should any suspension occur because of overdue payments, the time for contract completion, if any is stated, shall be extended by the period of the suspension.

All outstanding invoiced balances remaining unpaid for thirty (30) days after date of invoice will be charged a finance charge in the amount of 1½ percent per month from the date of invoice, with the annual percentage rate being 18 percent, computed on a monthly basis. In the event that any invoice remains unpaid and it becomes necessary, in the opinion of Criterium-Liszkay Engineers, to initiate collection procedures, the client hereby agrees to pay all collection costs including, but not limited to, reasonable fees for attorneys retained by Criterium-Liszkay Engineers and court costs at our standard billing rate for time necessitated in court appearances or presentation of claim to the appropriate court jurisdiction. Exceptions to the foregoing “Terms of Payment, Invoice Submittal” must be specified in writing as part of our confirmation letter or project agreement.