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These payment terms and conditions were updated on the 3rd day of August 2022.

 

 

 

 

Welcome to our payment terms and conditions (the "Payment Terms and Conditions") for use of The Nü Savings Group ('NSG') for products, services, and any solutions we prescribe. 

 

If you, as an individual or a business choose to use our business: The Nü Savings Group ('NSG');   

("The Nu Savings Group", "we" "our," or "us"), you accept and agree to the Terms and Conditions outlined in this document. Your Method of Payment: By choosing to use our products and services, your transaction must be payable in British Pound Sterling (£) only.   

 

 

1. Registration.

 

   'You' refers to the said individual (sole trader/proprietor), partnership (general partnerships (GP), limited

    partnerships (LP), limited liability partnerships (LLP), limited liability companies (LLC), or corporations; and

    hereby must activate your registered email with the Nü Savings Group in accordance with the requirements

    as prescribed by Nsg.org.uk; 

 

2. Buying Request (RFQ) 

 

    As a general rule, before you proceed and click send on our RFQ capture form; you should amend any erroneous

    information and ensure any documentary evidence supporting your application is valid. (For pricing, we will

    require your Informed Consent to act on your behalf and proceed). Once we are in receipt of your buying

    request, we will assume all your captured information is in order and has been double-checked. If we

    determine after receipt that there are material mistakes or incorrect information, we will require additional

    payment(s) for any unnecessary pre-administration and/or due diligence to correct the information.  

 

 

3. Payment in Advance (PIA)

 

    At the pre-administration stage (SEE: Contract Overview & Pricing), we will ask that you make full payment in

    advance; before we release our initial findings and/or our administration. In the absence of adherence to this

    term, our pre-administration will be taken as canceled or voided forthwith. This is to avoid any formal court

    recoveries and/or legal entanglements. 

 

4. Communication

 

    Invoices will be issued via electronic mail. For vulnerable clients, these payment terms and conditions can be

    requested in writing at no cost. Any invoice issued by us will be identified as: "The Nü Savings Group," a similar

    identifier (i.e. NSG), or alternately, one of our branded products, service, or solutions we have prescribed.   All

    questions pertaining to your accounts should be initially directed to us, but may also require the involvement

    of your supplier or where applicable, a third party;

 

5. Payment on Receipt

 

    We demand immediate payment after we have undertaken our administration (i.e. pre-administration, due

    diligence, contract analysis, contract negotiation, or we undertake post-administrative or procurement

    services). In the absence of adherence to this term, the deal or delivery will be taken as canceled or voided

    forthwith, whereby we will not release details of the savings we have found and/or details of our

    administration. This is to avoid any court costs and/or legal entanglements;

 

6. Payment Period

 

    You are required to make immediate payment on receipt of our electronic mail (or post, for vulnerable clients)

    after we have undertaken any administrative duties. If you have failed to make any payment or have financial

    difficulties, we will get in touch to arrange a payment plan.    

 

7. Late Payment Penalties

 

   If any invoiced amount is not received by the said person or party, by the mentioned due date, then without

   limiting company’s rights, the following will be applicable.

 

  •    Those charges may accrue statutory interest of 8% of the outstanding balance daily, plus the Bank of 

          England base rate for business-to-business transactions;

 

  •    We may condition future contract renewals/service renewals or suspend our services until such time

           that payment has been made in full.

 

    Late Payment Example

 

  •    If your business owed £1,000 and the Bank of England base rate was 0.5%:   

  •    the annual statutory interest on this would be £85 (1,000 x 0.085 = £85)

  •    we divide £85 by 365 to get the daily interest: 23p a day (85 / 365 = 0.23)

  •    after 50 days this would be £11.50 (50 x 0.23 = 11.50)

 

8. Non-Cooperation  

 

We will attempt to contact you (the individual or company) on up to five separate occasions spanning a month; a) we will provide details of the date(s) and time(s) of our administrative duties and/or investigative inquiries; b) the payment date(s) you have missed; c) we will attempt to contact you by email and on the last occasion by record delivery. In each instance, NSG will charge you statutory interest and many notify credit agencies of your failure to make payment(s) on time, which may impact your personal and/or business credit file. 

 

Once we have exhausted our administration and you continue to fail to co-operate; we will have no other recourse than to implement legal proceedings to collect any outstanding payments. Depending on the value of the claim(s), this action will either take place in a local Small Claims Court, or the High Court of Justice (London)

 

When you the individual or the said party owes us money (the ‘debtor’) and receives a statutory demand, you will have 21 days to either:

 

  • pay the debt in full plus any court costs;

  • reach an agreement to settle any payments to us;

 

In some instances, we may employ the services of a third party (a 'debt collector'), to collect any monies on our behalf, and you will be liable for their costs. This may involve a bailiff coming into your business premises and/or residential home address, and taking assets to the value of any monies owed. In respect of energy, prepayment meters may be installed to ensure payments are received.  

 

YOUR AUTHORISATION

 

By choosing The Nü Savings Group ('NSG') as your chosen eCommerce consultancy, as applicable, you agree that: (a) you or your company have read, understand, and hereby agree to all the statutes contained within our Payment Terms and Conditions, and that this agreement constitutes a 'contract signed by 'you' under any applicable law or regulation, (b) you consent to the electronic delivery of the said disclosures ww.nsg.org.uk have contained in these Payment Terms and Conditions and other legislation, (c) you authorize the Nü Savings Group (or its agents) to make any inquiries we consider necessary to administer your account, which may include ordering a credit report and performing other credit checks or verifying the information you provide against third party databases, and (d) you agree to make payment in advance (pre-administrative) and on receipt (contract analysis, contract negotiation, or any post administrative services). If you choose payment by credit/debit card via Stripe, as your method of payment, you authorize the Nü Savings Group (or its agents) to charge your card accordingly.

 

ADMINISTRATIVE PROCESSES:

 

If you believe that any payment transaction initiated by the Nü Savings Group (or its agents) is erroneous, or if you need more information about any such transaction, you should contact us as soon as possible by email:  support@nsg.org.uk. If our investigation should discover any errors made by ourselves; we shall make recompense depending on the agreement which was signed by 'you.'   

 

AGREEMENT CHANGES:

 

We may at our discretion change these Terms and Conditions at any time without notice to you. If any change is found to be invalid, void, or for any reason unenforceable, that change is severable and does not affect the validity and enforceability of any other changes or the remainder of these Terms and Conditions. We reserve the right to subcontract any of our rights or obligations under these Terms and Conditions. YOUR CONTINUED USE OF YOUR BANK ACCOUNT OR CREDIT/DEBIT ACCOUNT AS A PAYMENT METHOD AFTER WE CHANGE THESE TERMS AND CONDITIONS CONSTITUTES YOUR ACCEPTANCE OF THESE CHANGES.