South China & Hong Kong – Late Payment Surcharges – at 2% per month on balance overdue

We would like to give you a gentle reminder on the importance of settling due invoices within the stipulated credit facilities. Any outstanding amount which has exceeded the credit facilities will be considered as “past due”. Hapag-Lloyd reserves the right to exercise the below dunning procedures for both cash and credit customers (import and export shipments) in case such “past due” is incurred:

1. Credit account would be put on COD or credit hold without further notice.
2. For any due invoices, a 2% interest rate would be charged per month from the date the original invoices were due. This interest will continue to accrue until the due invoices are settled.
3. All legal costs and disbursements for recovery of debts would have to be borne by the customer concerned.
4. Hapag-Lloyd reserves the right to terminate any credit facilities on any un-recovered “past due” without further notice.

Your kind understanding and cooperation is appreciated.

Should you require further information, please contact our Hapag-Lloyd South China “Account Receivables” Team.