xi) PAYMENT (a) Where no other terms of payment have been specifically agreed in writing, the Company's terms are cash payment in full to be made with the order prior to delivery. Credit facilities will be subject to satisfactory trade, banker's and other requisite references. No discount or allowance will be made unless specifically stated by the Company in writing.
(b) Time for making payment shall be of the essence of the contract.
(c) The Company may at any time at its absolute discretion appropriate any payment made by the Buyer in respect of goods to such outstanding debt as the Company thinks fit notwithstanding any purported appropriation to the contrary by the Buyer.
(d) The Company shall be entitled to cancel the contract or to postpone any delivery until payment has been received in the event that the Company has reasonable doubts about the Buyer's ability or willingness to pay on the due date.
(e) The Company reserves the right at any time at its discretion to demand security for payment before continuing with an order or delivering goods or any installment.
(f) VAT will be charged at the rate ruling at the time of despatch of the goods or, if different, the basic tax point (as defined in regulations governing VAT from time to time in force).
(g) The company shall be entitled to interest as well as payment on any part of the Contract price not paid by the due date from that date until actual payment at a rate of 5 per cent per annum above the Base Lending Rate of The Royal Bank Of Scotland prevailing from time to time during such period.