Late Payments & Returned Cheques

Late Payment Charge

The customer is responsible for payment to KMTS for all services and equipment furnished. Fixed charges are billed any payable monthly in advance and other charges are payable when billed.

KMTS will assess a late-payment charge which provides for administration and carrying charges related to accounts that are owed to KMTS and are in arrears. The late-payment charge applies when payment has not been received by KMTS within 20 days of the billing date.

The charge is at the compound rate of 1.00% a month (12.68% a year) of the unpaid amount.

Returned Cheque Charge

Customers will be required to pay KMTS a $25.00 service charge and the associated bank charges for each cheque returned from the bank for reasons not readily discernible to KMTS employees when processing customer cheques upon initial receipt.

Examples include:

• Insufficient funds in the account of the customer
• Customer's account cannot be traced
• Payment stopped
• Account of customer is closed
• Irregular signature

The Returned Cheque Charge will be waived if the result was due to an error by the financial institution as supported by their written notice, or if the error should have been readily discernible by KMTS employees involved in the processing of customer cheques.

Examples include:

• Post or stale dated cheques
• Changes not initialed
• Body and figures different
• Drawer deceased
• Clearing bank unidentified