TERMS OF INVOICING FOR OUR BUSINESS CUSTOMERS
Applicable from 7 September 2021 onward
When opting to pay for our Services by invoice, please read through this agreement carefully. You can find this document at
1. Terms of Payment (Invoice)
Your opting to pay by invoice is considered an application from you to us to pay for our Services by invoice. Before accepting your application, we may conduct credit checks and other verifications, at our cost, to determine your creditworthiness. You agree to such checks and verifications. At our discretion, we may accept or reject your application, or we may impose maximum monetary amounts or other limitations on your option to pay by invoice.
You are responsible for giving us correct and current contact information for the purposes of invoicing, and keeping the information up to date with us at all times.
After having submitted your purchase order or subscription, and you have applied to pay for the order or subscription by invoice and we have accepted your application, we will send you an invoice for the order or subscription without unreasonable delay. We will send the invoice by email or, if so agreed in writing, by other means such as letter, electronic message or e-invoice, using your contact details on file. With the invoice, we will confirm your order or subscription and specify the Services or other items in the order or subscription. We will indicate the prices of the items and Grand Total of your order or subscription on the invoice.
Unless stated otherwise, in writing, all of our prices are shown without value-added tax (VAT) and other taxes, public charges, tolls, levies or other similar payments. Where VAT or other taxes, public charges, tolls, levies or other similar payments are payable on Compensation Fees, Licensing Fees or other aspects of the Services or other items in the order or subscription, we will specify the type and amount of such payments on the invoice.
If you are domiciled in an EU country other than Finland, and you have a valid EU VAT ID, we may apply the EU VAT reverse charge mechanism if all conditions for its application are met. Unless you have indicated your valid EU VAT ID upon registering for our Services or upon submitting your order or subsrciption, you must notify us at
Unless specified otherwise on the invoice, the payment term will be 14 days (net) from the date of the invoice. You undertake to effect payment of the Grand Total of the invoice by direct deposit or other type of bank transfer on the final day of the payment term at the latest. All payments must be effected using our bank account number (IBAN), recipient name, invoice reference number and other relevant information as shown on the invoice to ensure successful and timely transfer of the payment.
Unless agreed otherwise, in writing, all direct deposits or other bank transfers are to be made in € euro. We are not responsible for any fees, charges or other payments that you may incur for the direct deposit or other bank transfer.
All invoices are to be paid in full to the amount of the Grand Total indicated on the invoice. You may not make any set-offs or other deductions from the amount payable, or pay the invoice in instalments.
Should your payment be delayed beyond the due date, we may send you a payment reminder by email, letter, electronic message or other means of communication using your contact details on file. In such case, we are entitled to charge a payment reminder fee of 20 € per reminder. We will send one reminder after every two weeks that your payment is overdue.
Should your payment be delayed beyond the due date, we are entitled to charge late payment interest at 16% p.a., from the day following the original due date until the invoice has been paid in full.
We may add any payment reminder fees or late payment interests to your following regular invoices, or we may invoice you for them separately.
Should your payment be delayed beyond the due date, and you fail to pay the invoice and any related late payment reminder fees or late payment interests within a period indicated in the reminder, we may turn to a debt collection agency or start legal proceedings against you to recover the debt. In such cases, we are entitled to charge you for any and all debt collection or legal costs incurred as a result.
We may suspend, restrict, withdraw or otherwise negate your option to pay by invoice at any time without providing a reason. Such suspension, restriction, withdrawal or negation shall not affect the validity of already issued invoices or the application of these Terms of Invoicing to any current or future debts, whether or not already invoiced, the ground for which has resulted during the application of the Terms of Invoicing between you and us.
2. Governing Law and Dispute Resolution
We recommend that any disputes arising from or in connection with these Terms of Invoicing are resolved primarily by negotiation between you and Compensate. Please contact our legal customer service team first at
If the dispute, controversy, or a claim arising out relating to the Terms of Invoicing, or the breach, termination, or validity thereof cannot be settled in mutual negotiations between You and Compensate, it shall be finally settled by arbitration in accordance with the Arbitration Rules of the Finland Chamber of Commerce. The number of arbitrators shall be one (1), the seat of arbitration shall be in Helsinki, Finland and the language of the arbitration shall be English.
If no settlement can be reached, the dispute shall be settled by the Court of First Instance in Helsinki, Finland.
Compensate Operations Oy