Payment Terms (1)
1. Payment period
"All invoices are due for payment at reception of the invoice date, unless otherwise agreed in writing before the commencement of work. For retainer services, invoices are issued between the 1st and the 15th of each month for services delivered during that month and are due by the last working day of that month."
2. Late payment interest and compensation
"If payment is not received by the due date, Genero Consulting Ltd reserves the right to charge interest on the outstanding amount at the statutory rate of 8% per annum above the Bank of England base rate, calculated daily from the due date until the date of payment, under the Late Payment of Commercial Debts (Interest) Act 1998. In addition, Genero Consulting Ltd reserves the right to claim a flat collection efforts compensation in accordance with the Consultancy Agreement values but not limited to: £350 for invoices from £1 to £9,999, and £550 for invoices of £10,000 or more."
3. Deposit on project work
"Services showing commissions in percentage revenues agreed by the Consultancy Agreement can require a non-refundable deposit of 50% of the total year value fee or amount upon commissions in by percentage agreed in the Consultancy Agreement and due upon invoicing of these commissions amounts before work commences. This deposit is applied against the final invoice. Genero Consulting Ltd reserves the right not to begin the work until the deposit invoice has been settled. The deposit is non-refundable in the event of client cancellation and all Terms and Conditions; outstanding financial obligations of the client shall be completed fully withing thirty (30) days of the cancellation date. Any client cancellation received by Genero Consulting Ltd has no acceptance of any kind by its sending from the client and/or the reception of cancelation by Genero Consulting."
4. Suspension of work
"Genero Consulting Ltd reserves the right to suspend work and withhold delivery of any materials or services on invoices that remain unpaid fifteen (15) days after the due date. Work will resume upon receipt of all outstanding sums. Genero Consulting Ltd accepts no liability for delays caused by such suspension."
5. Invoice queries
"Any query regarding an invoice must be raised in writing within 10 days of the invoice date. Any undisputed portion of the invoice remains due on the original payment terms. Raising a query does not extend the payment due date for the undisputed amount."
(1) The Payment Terms set above are subject to the Consultancy Agreement Terms and Conditions and have a completing application to the Consultancy Agreement Terms and Conditions in case these Payment Terms are not included in the Consultancy Agreement. The Payment Terms set above do not include any disadvantageous acknowledgement from Genero Consulting Ltd and cannot be used against Genero Consulting Ltd in a Court of Law. All Rights reserved. Genero Consulting Ltd.
Last Update: 31/12/2025