5. Payment terms
5.1 You are to pay us in cash or in cleared funds on or prior to delivery, unless you have an approved credit account.
5.2 Business customers only: If you have an approved credit account, payment is due net monthly, that is at the end of the month following the month of the date of our invoice, unless otherwise agreed in writing.
5.3 If you fail to pay us in full on the due date we may:
5.3.1 suspend or cancel future deliveries;
5.3.2 cancel any discount offered to you;
5.3.3 Business customers only: charge you interest at the rate set under s.6 of the Late Payment of Commercial Debts (Interest) Act 1998;
a. calculated (on a daily basis) from the date of our invoice until payment;
b. before and after any judgment (unless a court orders otherwise);
5.3.4. Consumers only: Charge you interest at a rate equivalent to the rate set for business debts under s.6 of the Late Payment of Commercial Debts (Interest) Act 1998;
5.3.5 claim fixed sum compensation from you under s.5A of the Late Payment of Commercial Debts (Interest) Act 1998 to cover our credit control overhead costs; and
5.3.6 recover (under clause 5.8) the full costs of taking legal action to make you pay as well as any ancillary costs or fees payable in connection with such legal action.
5.4 If you have an approved credit account we may withdraw it or reduce your credit limit or bring forward your due date for payment. We may take any of these actions at any time and without notice.
5.5 Business Customers only: you do not have the right to set off any money you may claim from us against anything you may owe us.
5.6 Consumers only: you may only set off money you claim from us against money you owe us with our written agreement and on such terms as we may state.
5.7 While you owe money to us, we have a right to keep any property we may hold of yours until you have paid us in full (a lien).
5.8 You are to fully and promptly indemnify us and hold us indemnified from and against all losses, expenses and liabilities we may incur (directly or indirectly and including finance costs, legal costs on a full indemnity basis and the costs of instructing a debt collection agency to recover a debt due to us if any) following any breach by you of any of your obligations under these terms and/or the contract between us.
5.9 Consumers only: clause 5.8 means that you are liable to us for losses we incur because you do not comply with these terms. We may claim those losses from you at any time and if we have to take legal action we will ask the court to make you pay our legal costs.