Client shall pay YMLS for the services provided pursuant to invoices rendered by YMLS in accordance with the fees and charges set out on this agreement. Services are to billed annually or in thirty (30) day increments. Any accounts over thirty (30) days past due will be considered delinquent. In the event that Client has opted to pay by automatic credit card, a digital receipt for payment will be issued via email in lieu of an invoice.
Any “Initial” or “Set-up” fee paid for services is in all cases non-refundable after seven (7) calendar days of receipt.
If any payment required hereunder is not received by YMLS on or before the thirtieth (30th) day following receipt of an invoice, YMLS may discontinue service without notice and Client agrees to pay Firm an additional sum equal to fifteen percent (15%) of the total amount overdue. Said charge is intended to defray Firm’s interest and administrative expenses, and Client acknowledges that such charge represents a fair and reasonable estimate of such expenses, and shall be due and payable so long as the amount remains unpaid. Further, Firm shall be entitled to charge a fee of $35, to cover its administrative expense, each time a check from Client is returned by a bank for insufficient funds.
In addition to the late charges referred to above, which are intended to defray Firm’s costs resulting from late payments, any late payment of an amount owed shall, at Firm’s option, bear interest from the due date of any such payment to the date same is paid at eighteen percent (18%) per annum or the maximum lawful rate that Firm may charge to Client under applicable laws, whichever is less. Acceptance of any late charge and/or interest shall not constitute a waiver of Client’s default with respect to the overdue sum or prevent Firm from exercising any of its other rights and remedies under this agreement.
In the event suit is brought for the recovery of any sum due hereunder, or because of any act which may arise out of the obligations set forth herein, the prevailing party shall be entitled to recovery of all costs incurred therein, including reasonable attorneys’ fees.