Single format · FV07-M4-3

Interest, set-off, escalation and security for payment, clause set

A single format from the Consideration, Payment, Interest and MSME Compliance pack. three postures on each.

Length
2 pages
Blanks to fill
17
Files
Word and PDF
Law stated to
14 September 2026

What it covers

  1. 1Interest, set-off, escalation and security for payment, clause setthree postures on each17 blanks

Read the opening

The first part of the format, as it downloads. Blanks are highlighted.

INTEREST, SET-OFF, ESCALATION AND SECURITY

1. Interest on delayed payment.

[Option A — customer-friendly] If the Customer fails to pay an undisputed amount within 15 days of the due date, it shall pay interest on that amount from the expiry of those 15 days at the one-year marginal cost of funds based lending rate of the State Bank of India in force on the due date plus [Margin over SBI lending rate (% a year)]% per annum, simple. Interest is the Supplier’s sole remedy for late payment and no other claim for the cost of delay lies.

17 more paragraphs and tables follow in the full format.

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