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Non Standard Payment Addendum

Non Standard Payment Addendum

This Addendum (“Addendum”) is intended to amend and supplement the Customer Software Agreement (“Agreement”) made and entered into by and between CollaborateMD, Inc. (hereinafter referred to as “CollaborateMD”) with its principal place of business at 225 E. Robinson Street, Suite 145 Orlando, FL 32801, and and the individual or legal business entity agreeing to the terms set forth herein (“Customer”). The parties agree to the following terms that shall be additive to the terms found in the Agreement and restate and recite all other terms as defined in the Agreement. Unless otherwise specifically defined in this Addendum, terms shall have the same meaning as in the Agreement in effect between both parties. 

Customer acknowledges its acceptance and execution of this Agreement by electronic means and agrees that the electronic signatures of the parties included in this Agreement are intended to authenticate this writing and to have the same force and effect as manual signatures. 

Purpose

The purpose of this Addendum is to outline a non-standard Payment Plan for Customer, which consists of the following:

  1. Terms.

(a) CollaborateMD will allow Customer a non-standard Net 15 Payment Plan, effective upon execution of this addendum.

(b) Customer will ensure payment is received by CollaborateMD on or before the 15th of every month by 11:59 PM EDT in which an invoice is generated.

(c) Customer agrees to setup and maintain a valid Payment Profile on their CollaborateMD Account via the Admin Section. Should Add-on Services be purchased from the Admin Section, Customer acknowledges the Payment Profile on the Account will be charged.

(d) Customer agrees should payment fail to be received on or before the 15th of the month due by 11:59 PM EDT, CollaborateMD will process payment using the default Payment Profile on the account. Should the default Payment Profile decline, this non-standard Payment Plan Addendum becomes void. Customer will revert to Auto-Debit terms, due on the 5th of the month in which an invoice is received.

(e) Customer will keep CollaborateMD account and monthly invoicing in good standing (i.e. No Non-Sufficient Funds (NSF), No Late Fees, No Suspensions, and No Obscure Credit Requests etc.) in order to retain the non-standard Payment Plan.

  1. General.

(a) The non-standard Payment Plan is confidential between CollaborateMD and Customer. Customer shall not disclose the contents of this non-standard Payment Plan. Disclosure of this content will disqualify Customer from this non-standard Payment Plan and will revert to the standard Auto-Debit terms, due on the 5th of the month in which an invoice is received.

(b) Any modifications or extensions of the non-standard Payment Plan defined in this Addendum must be made in writing and agreed to by both parties.

(c) This addendum will be renewable at the end of each Calendar Year (12/31) as mutually agreed upon by each party. CollaborateMD reserves the right to review and renegotiate non-standard Payment Plan at any time prior to the end of the calendar year.

Last Modified July 14, 2016