Payment
4.1 The Supplier shall invoice Hafod for: (a) the Goods on or after the completion of delivery of the Goods or, if later, Hafod’s acceptance of the Goods, (b) Services on or after the completion of performance of the Services or, if later, the completion of the Acceptance Conditions.
4.2 Hafod shall pay each validly submitted and undisputed invoice of the Supplier within 30 days of receipt.
4.3 Without prejudice to any other remedy, Hafod shall be entitled to set-off under the Contract any liability which it has or any sums which it owes to the Supplier in accordance with clause 30.1.
4.4 Time of payment is not of the essence. Where sums due under the Contract are not paid in full by the due date, to compensate the Supplier for all loss from Hafod’s breach, Hafod shall pay on the sum overdue interest (before and after judgment) on a daily basis until payment in full at the rate of 3 per cent per annum above the Official Bank Rate from time to time of the Bank of England. The Supplier acknowledges that this is a substantial remedy for the purposes of the Late Payment of Commercial Debts (Interest) Act 1998.
4..5 VAT shall be charged by the Supplier and paid by Hafod at the applicable rate at the time the invoice was issued.