Payment at net invoice price is due for UK trade 30 days after the date of Invoice and for export trade is due as specified by us prior to acceptance of the order.
The prompt payment of accounts is a condition precedent of further deliveries and (without prejudice) we reserve the right to charge interest (as well after as before any judgment) at the rate of 5 per cent per annum above the base rate from time to time in force of Co-operative Bank on the outstanding indebtedness from the date on which payment becomes due, such interest accruing on a daily basis and being payable without deduction of tax.