Time for payment shall be of the essence and any failure by the customer to make payments to the company, on the due date, shall entitle the company at its option, and without prejudice to any other of its rights, to suspend delivery of any outstanding goods, or the completion of any outstanding services, pending payment and/or treat the contract as repudiated. Unless otherwise agreed in writing, the customer shall not be entitled to set off against any monies due to the company under the contract any amount claimed by or due to the customer, from the company, whether pursuant to the contract or on any other account whatsoever. Interest will be charged on overdue accounts at 2½ % monthly.
The suspension or cancellation of any order/contract for any reason whatsoever, shall not in any way release the purchaser from unpaid accounts, or from the liability under such order, to pay the sellers for products manufactured prior to suspension or cancellation.