Regulation 45 General

In this Chapter—

• “draw down” has the same meaning as it has in Part 7;

• “in default” means a failure to pay in full an invoiced amount by F1the end of the payment due date;

• “invoiced amount” means the total amount payable by a payer as stated in the invoice issued to that payer under regulation 41, 43 F2F3... or 49A;

• “payer” F4, subject to regulation 47(7), means a person to whom an invoice is issued under regulation 41, 43 F5F6... or 49A;

• “payment due date” means the day specified in an invoice in accordance with regulation 38(2) as the date by which it is to be paid.

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