sec.7Meaning of due date for payment

### sec.7 Meaning of due date for payment This section applies if— a contract is entered into between a licensed supplier and a licensee under which an amount (other than a basic monitoring fee) is payable by the licensee to the licensed supplier; and the contract does not state a due date for payment of the amount. This section also applies if— a contract is entered into between a licensed monitoring operator and a licensee under which a basic monitoring fee is payable by the licensee to the operator; and the contract does not state a due date for payment of the fee. In this Act, a reference to the due date for payment of the amount or fee is a reference to the date that is 1 month after the incurring of liability for payment of the amount or fee. s 7 ins 1999 No. 77 s 5 amd 2007 No. 36 s 2 sch (sec.7-ssec.1) This section applies if— a contract is entered into between a licensed supplier and a licensee under which an amount (other than a basic monitoring fee) is payable by the licensee to the licensed supplier; and the contract does not state a due date for payment of the amount. (sec.7-ssec.2) This section also applies if— a contract is entered into between a licensed monitoring operator and a licensee under which a basic monitoring fee is payable by the licensee to the operator; and the contract does not state a due date for payment of the fee. (sec.7-ssec.3) In this Act, a reference to the due date for payment of the amount or fee is a reference to the date that is 1 month after the incurring of liability for payment of the amount or fee. - (a) a contract is entered into between a licensed supplier and a licensee under which an amount (other than a basic monitoring fee) is payable by the licensee to the licensed supplier; and - (b) the contract does not state a due date for payment of the amount. - (a) a contract is entered into between a licensed monitoring operator and a licensee under which a basic monitoring fee is payable by the licensee to the operator; and - (b) the contract does not state a due date for payment of the fee.