Terms and Conditions - Late Payment and Fees

Please read these terms and conditions ("Terms") carefully before using our services. By engaging our services, you agree to be bound by these Terms. If you do not agree with any part of these Terms, please refrain from using our services.

1.    Late Payment 1.1. Invoices for services provided by [American Servicers] ("Provider") are due on the date specified in the invoice ("Due Date"). 1.2. If payment is not received by the Provider on or before the Due Date, it shall be considered a late payment.

2.    Late Payment Fee 2.1. In the event of a late payment, the Client agrees to pay a late payment fee as specified herein. 2.2. The late payment fee shall be a fixed percentage of 2% per day that the payment is late or otherwise specified in a contract between provider and client. 2.3. The late payment fee shall be calculated based on the outstanding amount of the invoice from the Due Date until the date of payment.

3.    Payment Process 3.1. The Client shall make all payments due under this agreement by the Due Date, as specified in the invoice. 3.2. Payment shall be made in the currency specified in the invoice. 3.3. The Client shall ensure that all payment details, including bank account information and payment references, are accurately provided to the Provider to facilitate timely and accurate payment processing.

4.    Disputes and Resolution 4.1. If the Client has any objections or disputes regarding an invoice or the charges, the Client must notify the Provider in writing within [5] days of the invoice date. 4.2. The Provider and the Client shall endeavor to resolve any disputes regarding late payments or late payment fees through good faith negotiations and discussions.

5.    Collection Costs 5.1. In the event that the Provider must engage a third-party collection agency or take legal action to recover unpaid amounts, the Client shall be responsible for all reasonable costs incurred by the Provider, including but not limited to collection fees, attorney's fees, and court costs.

6.    Amendments 6.1. The Provider reserves the right to amend these Terms and the late payment fees at any time by providing written notice to the Client. 6.2. Amendments shall become effective [1] days after the notice is provided, unless otherwise specified by the Provider.

7.    Governing Law and Jurisdiction 7.1. These Terms shall be governed by and construed in accordance with the law, without regard to its conflict of laws principles. 7.2. Any disputes arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the court.

By engaging our services, you acknowledge that you have read, understood, and agree to be bound by these Terms and Conditions, including the late payment fees outlined herein.