Suggested Late Payments Penalty Clauses and Reminders

8. Payment Terms (MVIRI Code of Conduct)

8.1 An Insurer's maximum payment terms for repair invoices should not exceed thirty (30) days from receipt of        invoice by the Insurer or authorised assessor or agent.

8.2 Where the price, work or documentation is disputed, payment of the undisputed component will be paid in accordance with the payment terms of sub-clause 8.1

8.3 Insurers will disclose alternative payment arrangements, if any, between Repairers in and those not in the Insurer's NSR scheme.

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