Paragraph 63 PaymentsI1

In the event that any payment is not made by the undertaker to SSW within thirty (30) working days of the due date (which in the case of any costs, charges and expenses to be incurred by SSW shall be the date on which the undertaker is notified of such costs, charges and expenses actually being incurred), then SSW shall be entitled to interest on the outstanding balance (excluding any payments made by the undertaker to SSW on account) at a rate of 4% above the base rate for the time being of Barclays Bank Plc, from the due date until the date payment is actually made.

All payments made by the undertaker under this this Part of this Schedule shall be made by direct bank transfer to an account in England nominated in advance by SSW for that purpose.