- Orders, price and payment
1.1 No contract shall come into existence until JPen John Patrick Engineering Ltd confirm the order for Goods in writing.
1.2 The price (exclusive of VAT) for the Goods (“the Price”) shall be the price quoted by JPen John Patrick Engineering Ltd and payment of the Price shall be made by the Buyer within 28 days of the date (“the Due Date”) of the invoice for the Goods/Services provided. Time for payment shall be of the essence.
1.3 If the Price is not paid by the Due Date the Buyer will be liable to an additional payment of reasonable liquidated damages. Interest shall accrue both before and after any court judgment on the unpaid portion of the Price at the rate of ten per cent above the current base rate of the Bank of England.
1.4 Any cancellation of orders by the Buyer must be in writing, and agreed as cancelled, also in writing, by JPen John Patrick Engineering Ltd. In case of any cancellation, the Buyer may be released from its obligations under the contract after payment of a sum to cover costs and expenses incurred by JPen John Patrick Engineering Ltd and for reasonable liquidated damages.