In the event that the customer still does not pay the amount due, it is advisable to request this in writing and threaten to assert your claim in court. Even if the payment terms are subject to a confidentiality agreement, sharing this information with your attorney or court will not be considered a breach of the confidentiality agreement. Often, such a reminder has a greater psychological effect than a regular reminder, and the debtor will prefer to pay rather than risk lawsuits and have to pay for your lawyer. You may not use Shopify Payments for the following activities unless you have obtained our prior written permission (“Restricted Businesses”). Restricted categories of businesses may be imposed by card network rules, financial partner requirements, or due to compliance and legal obligations. If your business falls into one of the restricted categories, please contact us. The Czech Republic is notorious for its poor payment practices, as the average payment on invoices has fallen to just under 70 days, especially in situations where small contractors demand payments from large players with significant economic power. This should therefore contribute to creating a healthier environment for small players and independent entrepreneurs in the market. Contrary to what was observed in all industries studied in the Czech Republic, payment terms for B2B customers in the machinery sector are much shorter than last year (on average 32 days less than 44 days the previous year). Agri-food respondents set the shortest average payment terms (22 days), which remained stable compared to the previous year. The Processor The Processor is Stripe Payments Europe, Ltd., incorporated under Irish law, which is a technical service provider and may offer the Services as an agent of one or more financial institutions in the Czech Republic (each, a “Financial Service Provider”). The processing and settlement of Transactions (as defined below) (“Payment Processing”) will be performed by the Processor and one of the Financial Service Providers under a separate Stripe Account Agreement, including the Czech Republic Stripe Service Agreement and applicable Financial Services Terms, and to the extent You use a Payment Method subject to Additional Terms, the Payment Terms (collectively, the “Processor Terms”).
By accepting this Agreement, you also agree to be bound by the Processor Terms, which constitute the legal agreement between you and the Subcontractor. Named country When you sign up for a Shopify Payments account, you must indicate the location from which you operate the business that will use the payment services in the Czech Republic. By signing up for a Shopify Payments account, you confirm that you are a legal resident of the Czech Republic or that you are properly registered or authorized as a business entity authorized to conduct business in the Czech Republic. Payment Services and Shopify Payments Account can only be used in the Czech Republic. By accepting this Agreement, you confirm that you comply with these requirements. It is also advisable to scrutinize customers and business partners and require stricter conditions for payments and guarantees when risks are identified. Termination does not relieve you of your obligations as set forth in this Agreement, and Processor may elect to continue to hold such funds as it deems necessary until other terms or obligations set forth in this Agreement are resolved, including, but not limited to, chargebacks, fees, refunds, or other investigations or proceedings. Yes. The parties may agree to extend the payment term beyond the standard payment term. The extension may not exceed 60 days unless it is seriously prejudicial to the creditor. However, where an obligation between traders consists of an obligation to supply goods or services to a body governed by public law, the parties may agree on a later expiry date only if justified by the nature of the obligation. In this case, the payment period may not exceed 60 days.
Effects of termination Upon termination and closure of your Shopify Payments account, we will immediately terminate your access to the Payment Services. You agree to complete all pending transactions, immediately remove all card logos, and stop accepting new transactions through the Payment Services. You will not receive a refund of any remaining fees you paid for the Payment Services if your access to or use of the Payment Services is terminated or suspended. All funds held by the financial service provider will be paid to you in accordance with the terms of your payout plan (as defined in the processor terms). The role of the Processor is to accept and process payments by credit card, debit card and other types of payments (collectively, “Cards”) in connection with the sale of your products and services through Internet transactions (“Card Presentation Transactions” or “CNP Transactions”). Where applicable, the POS equipment enables the transfer of data to the processor from personal point-of-sale transactions (“Card Presentation Transactions” or “CP Transactions”) as well as manually entered transactions (“Entered Transactions”). NOC Transactions, CP Transactions and Key Transactions are collectively referred to herein as the “Transactions”. By accepting the terms of this Agreement, you authorize us to collect information about you from third parties, including credit reference agencies and other information providers.
You acknowledge that this information collected may include your name, address history, credit history and other data about you. We may periodically update this information to determine if you continue to meet the eligibility requirements for a Shopify Payments account. Last year, large Czech companies recorded an increase in write-offs of bad loans (2.2% compared to 2.0% in the previous year). This corresponds to the increase in late payments. It should be noted, however, that micro-enterprises and SMEs also recorded an increase in the share of bad debts (by 1.3% and 0.9% respectively). In addition to fees, you are also responsible for all penalties and fines imposed on you or us by banks, money services companies, payment networks, financial institutions or other financial intermediaries arising from your use of the Payment Services in a manner not permitted by this Agreement or the rules and regulations of such financial intermediary. Companies are automatically entitled to default interest and can also receive a minimum lump sum of CZK 1200 as compensation for recovery costs. You may request reimbursement of any remaining reasonable collection costs. The Czech Parliament recently adopted an amendment to the Commercial Code, which transposes European Directive 2011/7/EU of 16 February 2011 on combating late payment in commercial transactions into Czech law.
The Czech Chamber of Commerce (an institution representing the entrepreneurial public in the Czech Republic) has been fighting for this novel since 2004. The novel was published in the Collection of Laws and entered into force on 1 July 2013. Right to modify We have the right to change or amend the terms of this Agreement at any time and to modify, delete, discontinue, or impose any feature or aspect of the Payment Services or Software that we, in our sole discretion, deem appropriate in the circumstances, including such notice in your Shopify admin. or any other website we maintain or own to provide services under this Agreement. Any use of the Payment Services following the posting of such changes constitutes your acceptance of this modified Agreement. Whether you`re selling goods or providing services as part of a sales, labor, or collaboration agreement, it`s important to clearly negotiate payment terms with your customer. Small business owners, in particular, often do not enter into contracts in writing and do not need confirmation of the provision of services or even the delivery of goods. Such an approach creates the perfect conditions for the customer not to pay the bill. In particular, a clearly written contract or at least a summary of the payment terms in a written order helps to avoid misunderstandings and other problems.
Payment terms may also be contained in the terms and conditions specified in the main contract. This Agreement has been revised by you with the assistance of independent counsel as you deem necessary, and any rule of interpretation that the ambiguity must be resolved against the formulating party will not apply to the interpretation or interpretation of this Agreement. The rights granted to us in this Agreement are not intended to exclude each other or any other rights and remedies available to us at law or in equity. On the contrary, each individual right we have under this Agreement is at law or in equity, cumulative and concurrent and in addition to any other law.