Cooper Lane Heating & Cooling Monthly Payment and Annual Maintenance Obligation Clause
This Monthly Payment and Annual Maintenance Obligation Clause (“Clause”) is a part of the service contract (“Contract”) between Cooper Lane Heating & Cooling (“Company”) and the customer, outlining the payment and cancellation obligations associated with receiving annual maintenance under a monthly payment arrangement.
1. Monthly Payment and Annual Maintenance Agreement: By choosing to pay for the service contract on a monthly basis, the customer agrees to the terms and conditions set forth herein, including the obligation to complete payment for the annual maintenance service within the contract year.
2. Obligation to Pay for Full Contract Year: If the customer receives the annual maintenance service within the contract year, they are obligated to pay the remainder of the contract term, representing the balance for the entire 12-month contract, regardless of whether the contract is canceled before the end of the 12- month term.
3. Calculation of Remaining Balance: The remaining balance for the 12-month contract shall be calculated based on the monthly payment amount and the number of months remaining in the contract term from the date of the annual maintenance service.
4. Cancellation and Payment of Remaining Balance: In the event the customer cancels the contract before the end of the 12-month term after receiving the annual maintenance service, the customer shall be required to pay the remaining balance for the 12-month contract, calculated in accordance with section 3 of this Clause.
5. Payment Terms for Remaining Balance: The customer agrees to make the payment for the remaining balance within a reasonable period after cancellation, as specified by the Company in writing.
6. No Refund for Remaining Balance: The customer acknowledges and agrees that no refunds or partial refunds shall be provided for the remaining balance upon contract cancellation.
By choosing the monthly payment option and receiving annual maintenance service within the contract year, the customer acknowledges and agrees to abide by the terms and conditions outlined in this Clause. The Company reserves the right to modify or amend this Clause at its discretion, with notice to