M-DAQ Terms of Services: Schedule 2
Schedule 2 – Fee, Invoicing and Payment-related Terms
1. Further invoicing and payment terms
a For fees that are payable monthly in advance, M-DAQ will issue invoices for the Fees within the first 10 business days of the previous month.
b For fees that are payable in arrears, M-DAQ will issue an invoice within the first 10 business days of the following calendar month from when the fee was incurred.
c All fees are payable by Client to M-DAQ within 7 business days of the date of the invoice.
d Client is responsible for all taxes and similar or related amounts which are payable in connection with the use of the M-DAQ Multi-Currency Account (including taxes on any fees imposed by M-DAQ on Client) and Client will reimburse M-DAQ or its affiliates to the extent such taxes are borne by M-DAQ or its affiliates to the extent such amounts are not deducted or withheld. Client shall always keep M-DAQ and its affiliates indemnified against all claims in relation to taxes. Neither M-DAQ nor its affiliates are obliged to contest any demand made by any governmental or regulatory authority for such taxes. M-DAQ shall not be responsible for deductions or withholdings made by third parties from payments received by M-DAQ on Client’s behalf.
2. Fee increases
a M-DAQ may increase the fees at any time by giving at least 30 days’ notice.
b If the Client does not wish to pay the increased fees, it may terminate the Agreement by giving at least 14 days’ notice. If the Client does not terminate the Agreement in accordance with this clause, it is deemed to have accepted the increased fees. For the avoidance of doubt, all fees paid under this Agreement are non-refundable and in no event will termination relieve Client of its obligation to pay any fees payable to M-DAQ for the period prior to the effective date of termination.