New Zealand Law
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The charges and penalty charges depend on the terms of your contract. You must have a clause which permits these charges. If you do have this, you need to be careful about charging compound interest because that is generally not legal. As for the discount, if that was offered on the basis they would pay on time, then you can put this back to the standard charge. It is important to have these in your terms so if you don't have them, I suggest you modify the contracts for this