These Payment Terms and Conditions apply to all services provided by UtopianKnight Consultancy Limited unless otherwise agreed in writing.
1. Payment Terms
1.1 All invoices are payable within 30 days net from the invoice date.
1.2 Payment must be made in full, without deduction, set-off, or withholding.
1.3 Payment is due regardless of whether the client has raised an internal purchase order or completed internal approval processes.
2. Late Payment
2.1 If payment is not received by the due date, the invoice will be considered overdue.
2.2 We reserve the right to charge statutory interest on overdue amounts in accordance with the Late Payment of Commercial Debts (Interest) Act 1998, calculated at 8% per annum above the Bank of England base rate, accruing daily from the due date until payment is received in full.
2.3 Interest will be payable immediately upon demand.
3. Administration and Recovery Fees
3.1 For any invoice that becomes overdue, we reserve the right to charge a late payment administration fee of £40 per invoice, in line with statutory debt recovery provisions.
3.2 Where reasonable recovery costs exceed the statutory fixed amount, we reserve the right to recover all additional costs incurred, including but not limited to legal fees, debt collection agency fees, and administrative costs.
4. Suspension of Services
4.1 We reserve the right to suspend or withhold services if any invoice remains unpaid beyond the due date.
4.2 Suspension of services does not relieve the client of their obligation to pay outstanding invoices, accrued interest, or fees.
5. Disputed Invoices
5.1 Any dispute relating to an invoice must be raised in writing within 7 days of the invoice date.
5.2 Undisputed portions of an invoice remain payable in accordance with these terms.
6. Governing Law
6.1 These Payment Terms and Conditions are governed by and construed in accordance with the laws of England and Wales.
6.2 The courts of England and Wales shall have exclusive jurisdiction.