These terms and conditions regulate the business relationship between you and us. By using Our Website in any way, or by buying from us, you agree to be bound by them.

No person under the age of 18 years may purchase Goods. If you are under 18, please confer with an adult to make your purchase.

You are: a visitor to Our Website / our customer

The terms and conditions

1. Definitions

In this agreement:

2. Our contract with you

These terms and conditions apply:

2.1 So far as the context allows, to you as a visitor to Our Website and in any event to you as a buyer or prospective buyer of our Goods.

2.2 Title to the Good or Service will remain with the Seller (Define Imports trading as Define Watches) until full Purchase Price is received and cleared and Buyer receives ownership of the Good through a duly executed bill of sale or notification of full payment receipt from Seller.

Property in and title to the Goods will not pass to the Consumer until those Goods and all other amounts owed to the Seller by the Consumer have been paid for in full and until then:
a) Notwithstanding anything else to the contrary herein contained, the parties irrevocably agree that title in the Goods and Services received from the Seller shall not pass to the Consumer until such time as the Goods and Services have been paid for in full (in this clause “Full Payment”). The Seller and Buyer further agree that until full payment of all goods and services occurs, the seller holds a security interest in the relevant Goods and Services for the purpose of the Personal Property Securities Act 2009 (Cth) (“PPS Act”), as amended, varied, or replaced from time to time; and the Goods must be stored separately and, in a manner, enabling them to be identified as Goods supplied by the Seller and cross-referenced to particular invoices and the Consumer acknowledges that if it should process or mix the Goods with other products or items such that the Goods are no longer separately identifiable then the Consumer and Define Watches will be owners in common of the new product.

2.3 We shall accept your order by e-mail confirmation. That is when our contract is made. Our message will also confirm details of your purchase and tell you when we shall dispatch your order.
2.3.1 Define Watches retains ownership of all goods until the full invoice price has been paid and cleared

2.4 We may change these terms from time to time. The terms that apply to you are those posted here on Our Website on the day you order Goods.

2.5 Unfortunately, we cannot guarantee that Goods advertised on our website are available.

2.6 If we do not have all of the Goods you order in stock, we will offer you alternatives. If this happens you may:

2.6.1 accept the alternatives we offer

2.6.2 cancel all or part of your order

2.7 If in future, you buy Goods from us under any arrangement which does not involve your payment via Our Website, these terms still apply.

2.8 If we owe you money on account of your cancellation, according to conditions below under points 6 and subpoints, we will credit your credit or debit card as soon as reasonably practicable but in any event no later than 30 days from the date of cancellation of your order.

3. Your account with us

3.1 You agree that you have provided, and will continue to provide accurate, up to date, and complete information about yourself. We need this information to provide you with the Goods.

3.2 If you use the website, you are responsible for maintaining the confidentiality of your account and password and for preventing any unauthorized person from using your computer.

3.3 You agree to accept responsibility for all activities that occur under your account or password. You should tell us immediately if you believe some person has accessed your account without your authority and also log in to your account and change your password.

3.4 We reserve the right to refuse you access to Our Website.

4. Invoicing, Price and Payment

4.1 We endeavour to keep our website and catalogue prices updated and accurate but it is possible that the price may have increased from that published. If that happens, we will not send your order until you have confirmed that you wish to order at the new price, unless otherwise agreed.

4.2 Banking charges by the receiving bank on payments to us will be borne by us. All other charges relating to payment in a currency other than Australian Dollars will be borne by you.

4.3 Any information given by us in relation to exchange rates are approximate only and may vary from time to time.

4.4 Purchase Prices include Australian good and service (GST) tax. If you show by your delivery address that you reside outside Australia, Australian GST will be deducted at the payment point.

4.5 Shipping costs are charged depending on size, weight and value of the item within Australia via insured Express courier or insured courier to international destinations. High value, special &/or bulky shipments are quoted separately. Standard shipping costs for watches and accessories are shown at check-out.

4.6 A credit card and payments via bank transfer are available at no extra cost.

4.7 In the case of back orders (including non-stock, special, bespoke, & limited edition items), if a deposit/on goping payments have been made, payment of full balance is due within 14 days of notification that items has been completed at the manufacturer and is ready for shipment from the manufacturer to Australia, unless otherwise agreed and confirmed in writing by Define Watches. Failure to make full payment within this timeframe will result in cancellation of order and forfeiture of all deposits/interim payments made on the order.

4.7.1  In the event of non-payment, as outlined in section 4.7, the Seller reserves the right to consider the Buyer in breach of the sales contract and charge a penalty fee of 20% of the balance due.

5. Delivery

5.1 Deliveries will be made by within Australia via Toll Priority courier or Post Express, and DHL/FedEx or similar for deliveries to NZ/international, to the address stipulated in your order. It is your responsibility to ensure that an authorized person is present to accept delivery. Only one delivery attempt is included in the shipping fee and additional delivery attempts will be charged with min charge per attempt. In some cases it might be better to nominate a work/business address for this reason.

5.1.1 All deliveries will be sent to the street address nominated at the time of placing your order or making a purchase. If you would like delivery to a PO Box or your nearest Post Shop please be sure to specify this clearly in person or via email to [email protected] at the time of placing your order/purchase. In this case goods will be delivered with insured and tracked Express Post. If collecting from the Post Office please be sure to take your ID with you when picking up the item.

5.2 If we are unable to deliver your order after two calls by our carrier, we will notify you to try to arrange an alternative date for delivery, convenient to you. This will incur an additional charge. If we have failed to contact you after 10 days from the first time we attempted delivery, we will cancel your order and return money paid for the goods. We will retain any charges for delivery/additional handling.

5.3 We may deliver the Goods in instalments if they are not all available at the same time for delivery. Shipping costs will be agreed upon up front depending upon the time intervals and shipment sizes.

5.4 Goods are sent at our risk until signed for by you or by any other authorized person at the address you have given to us.
Unless otherwise agreed, deliveries are made via an Express Service and carry a limited insurance (see point 5.4.4) covered by Define Watches whilst in transit up to the point of completed delivery to the recipient. Delivery is considered completed once an item has arrived at its destination and been delivered to, and signed for, by an authorized recipient, and subsequently confirmed by the courier’s tracking system log.

5.4.1 As soon as a shipment has been delivered and the Courier’s tracking system shows the status of the shipment as “delivered”, the contract is considered fulfilled, thus relieving Define Watches of any legal responsibility for the item. This excludes any reasonable hidden transport damage or warranty damage to the delivered goods.

5.4.2 In the case of a damaged or incomplete delivery, customers need to report the full extent of damage/loss to Define Watches within 48 Hours, if possible with pictures showing any damage and state of the goods upon arrival/delivery.

5.4.3 In the event of loss/damage after an item is delivered and accepted by a recipient at the recipient’s address, who is someone other than the intended/authorized recipient, and delivery is supported by confirmation from the courier showing completed delivery, responsibility lies with the intended recipient to report any loss/damage to the relevant authorities within 48 hours as this is beyond the responsibility of Define Watches.

5.4.4 Items shipped within Australia via Australia Post are insured up to a value of $10,000. Items shipped within Australia via Toll Priority are insured up to $50,000. Items shipped internationally via DHL or Fedex are insured up to a value of $60,000. If shipment value exceeds this amount please contact us directly for arrangements.

5.5 Goods are sent by post or courier. We will send you a message by email to tell you when we have dispatched your order.

6. Cancellation of order

6.1 You may cancel your order at any time before we dispatch your order or before the expiry of 7 working days from the date you receive your order confirmation/invoice, not including the day you received it. Providing goods have never been worn and are complete with original box and paperwork. A shipping and handling fee will be deducted from the return amount for admin and warranty issuance purposes see point 8.4 below for specific details. Please note: due to their custom-nature and long-manufacturing times, different conditions apply to special orders and bespoke or customised goods.

6.2 Details of our after-sales service and guarantees, if any, are given on our website / in our catalogue and may also be listed in the manufacturers catalogue accompanying each watch.

6.3 If you cancel before we have sent the Goods, we will refund to you the price of the Goods and the cost of delivery, if any, less a handling fee.

6.4 If you cancel after we have dispatched the Goods, we will refund the price of the goods only, less shipping and handling fees.

6.5 The option to cancel your order is not available if the Goods are:

6.5.1 made or altered to your specification, including customisations and special orders placed on lay-by.

6.5.2 specially ordered from the manufacturer on your request, including re-orders to fill a lay-by, and non-stock items from small manufactureres who produce to order including, but not limited to,: Alexander Shorokhoff, Armin Strom, Benzinger, Cornehl, Dornblueth & Sohn, Grieb & Benzinger, Habring2, Jaeger & Benzinger, Kudoke, Lang & Heyne, Lehmann, and Moritz Grossmann.

6.5.3 No cash refund is provided on the return of discounted watches, special orders or promotional or ‘Deal of the Week’ offers. In these cases, upon prior agreement, goods will be exchanged for store credit to the value of the original purchase. Please note, our general return policy conditions relating to the timing and the condition of returned goods also apply to the return of discounted watches and special orders.
6.5.4 Items covered under points 6.5.1 and 6.5.2 are not eligible for refunds of deposits or monies paid due to the personalised, bespoke nature of their manufacture (eg personal requests for special design combinations, engravings, dials, crowns, finishes and other specifically customised finishes). In these cases, where the piece is customised to individual specifications suitable only to the one, unique order and cannot be on-sold, the initial order confirmation is binding and precludes cancellation and refund. This covers items such as, but not limited to, watches from: Armin Strom, Benzinger, Jaeger & Benzinger, Grieb & Benzinger, Cornehl, Dornblueth & Sohn, Hentschel, Kudoke, Lang & Heyne, Lehmann and Moritz Grossmann. Deposit and full payments on these pieces will not be refunded because special ‘to-order’ production is an understanding at the time of order.

6.6 If you cancel your order after we have dispatched the Goods, you must return them to us within 7 days in the same condition in which you received them with original documentation and unworn. We cannot refund your money if the Goods have been used, worn or damaged or are returned without the full set of documents and packaging including and extras.

6.7 You are responsible for the cost of the returning item as well as proper packaging to avoid any damage of the watch box. Damaged watch boxes due to bad packaging will be charged with $50.00.

6.8 To assist us in identifying your Goods on receipt by us, we ask you to telephone 0401 326 998 for a returns reference to be placed below our address / returns label; as an option please use the invoice No. provided with delivery.

6.9 If you fail to return the goods, within 14 days, we are entitled to arrange for their collection. If we do we shall look to you to repay us the cost of collection.

6.10 We will refund your money within 30 days pending return of the original, undamaged good within the time frame outlined under section 6.6.

6.11 This paragraph does not affect your rights in the event that the Goods are faulty.

6.12 Return of watches or other items sold by Define will only be excepted if item(s) are returned complete, including original box, warranty papers, manual and all other parts (i.e. tools, bands, band links, clasps) which have been part of original delivery. All returns made have to be complete in this sense, independent of reason of return or time related to original sale.

6.13 Lay-by agreements between Define Watches and a customer require a minimum 20% deposit, unless otherwise agreed, and must be paid in full, within three months from order date or before delivery, which ever comes first, unless otherwise agreed.

6.13.1 Cancellation of standard, stock item pieces placed on lay-by is possible up to 14 days after initial order and payment of deposit. In this case there will be no fee and all monies will be returned. Cancellation after 14 days will incur a termination fee of 10% of total order value to cover storage, stock finance and admin costs.

6.13.2 Cancellation of special orders and bespoke, customised goods that are placed on lay-by is not possible due to the bespoke nature of manufacture.
Once the special order is confirmed, in writing, and works have commenced on the custom build, the sale is final and must be paid in full unless otherwise agreed. These goods include, but are not limited to, hand-made timepieces from brands such as: Alexander Shorokhoff, Armin Strom, Benzinger, Cornehl, Dornblueth & Sohn, Gribe & Benzinger, Habring2, Jaeger & Benzinger, Kudoke, Lang & Heyne, Lehmann, and Moritz Grossmann.

6.13.3 Initial holding payments and deposits paid on limited editions and back orders will be forfeited in the case of cancellation and are non-refundable unless the order cannot be fulfilled.

7. Foreign taxes, duties and import restrictions

7.1 If you (The Buyer) are not in Australia, we (Define Imports / Define Watches) have no knowledge of, and no responsibility for, meeting the laws in your country.

7.2 You (The Buyer) are responsible for purchasing Goods which you are lawfully able to import, and for the payment of import duties and taxes of any kind levied in your country.

7.3 Define Imports / Define Watches expressly reserves the right to recall or collect watches and other goods if payment has not been made within agreed periods and T&C, providing all goods are in 100% as new condition, free of any damage, scratches and marks and returned with complete packaging, warranty cards and manuals. All re-importation costs will be borne by The Buyer.

7.4 Define Imports / Define Watches will inform The Buyer about any damage within 48 hrs after receiving goods back and will advise applicable re-importation costs in due course, once notified by customs/shipment companies.

7.5 In the event of any recall caused by default in payment, The Buyer will return all goods requested by Define Imports / Define Watches within 72 hours.

7.6 All return deliveries to Define Imports / Define Watches must be sent at the expense and risk of The Buyer and said Buyer is fully responsible for safe packaging and insured transport of all goods returned, in addition to bearing all associated export/import costs of the return.

8. Goods returned

8.1 Our most important task is to ensure your absolute satisfaction. We will always strive to reach that target. However, we acknowledge that mistakes are made occasionally – this section covers that possibility. If your items are faulty or you are not wholly satisfied with the Product, please tell us at the earliest opportunity.

For the return of faulty Goods please provide the following information:

• Exactly what is the fault
• The date, if relevant, when the fault became apparent
• When and how you discovered the fault
• How the fault affected your use of the Goods

NB: Impact damage is not considered a manufacturing fault.

Once a watch has been worn or altered in any way (including band customisation) or an item used, the case becomes a warranty issue and is treated separately according to warranty conditions. Please refer to the separate section on warranties and contact us directly via email ([email protected]) in these cases.

8.2 To return goods it is essential that you follow the instructions below. These provisions apply in the event that you return Goods to us because you say they are faulty:

8.3 You must tell us by email message to [email protected] or by letter to our street address, that you would like to return goods, specifying exactly what goods and when purchased, and giving full details of the defect and reason for return. We will then issue a returns note. If you send goods to us without a returns note, we may not be able to identify sufficient details to enable us to attend to your complaint.

8.4 The faulty goods must be returned to us as soon as any defect is discovered. A quality assessment for every returned item will be performed by our watchmaking experts. Products not meeting the return policy requirements or that have sustained impact damage will be refused and returned back to the customer. You will be notified via e-mail on the status of your return. No exchanges and returns for personalised items or special orders. In the case of returns that have been approved within the terms of our T&Cs, Define Watches will resolve the matter in the following manner and order of service
– have the Goods repaired free of charge, if this is not possible
– the goods will be replaced with a new item, if this is not possible
– issue a store credit for the full invoice amount or refund the sales value of the good in the same currency and through the same payment method used for purchase.

8.5 In the case of goods returned due to ‘change of mind or style concerns’ we may offer two options:
– a store credit for the full item amount, or
– a refund, in the same currency and through the same payment method used for purchase, less shipping and 10% handing for new paperwork and warranty documents.
NB: Before refund is processed, all goods will undergo a quality assessment performed by our watchmaking experts. Products not meeting the return policy requirements (as stipulated under the return of faulty goods section) or that have sustained impact damage will be refused and returned back to the customer. You will be notified via e-mail on the status of your return. No exchanges and returns for personalised items or special orders.

All refunds will take place within three working days of the goods being approved by Define Watches.

8.6 Goods must be returned:

• With all goods and all packaging and paperwork in original condition;
• Securely wrapped;
• Including our delivery slip;
• At your risk and cost.

8.7 Watches purchased in-store and watches where a steel bracelet or strap has been changed to fit, cannot be returned.

9. Disclaimers

9.1 We or our Content suppliers may make improvements or changes to Our Website, the Content, or to any of the Goods, at any time and without advance notice.

9.2 You are advised that Content may include technical inaccuracies or typographical errors. This is inevitable in any large website. We would be grateful if you bring to our immediate attention, any that you find.

9.3 We give no warranty and make no representation, express or implied, as to:

9.3.1 the adequacy or appropriateness of the Goods for your purpose;

9.3.2 the truth of any Content on Our Website published by someone other than us;

9.3.3 any implied warranty or condition as to merchantability or fitness of the Goods for a purpose other than that for which the Goods are commonly used;

9.3.4 compatibility of Our Website with your equipment, software or telecommunications connection.

9.4 Our Website contains links to other Internet websites outside our power and control. You acknowledge and agree that we shall not be liable in any way for the Content of any such linked website, nor for any loss or damage arising from your use of any such website.

9.5 We are not liable in any circumstances for special, indirect or consequential loss or any damages whatsoever resulting from loss of use, loss of data or loss of revenues or profits, whether in an action of contract, negligence or otherwise, arising out of or in connection with your use of Our Website or the purchase of Goods.

9.6 In any event, including the event that any term or condition or obligation on our part (“Implied Term”) is implied into these conditions by law, then our liability is limited to the maximum extent permitted by law, to the value of the goods or services you have purchased.

9.7 The above two sub paragraphs do not apply to a claim for personal injury.

10. Content and Intellectual Property Rights

10.1 We will defend the intellectual property rights in connection with our Goods and Our Website, including copyright in the Content whether provided by us or by any other content provider (including copyright in: text, graphics, logos, icons, images, audio clips, digital downloads, data, and software).

10.2 We also claim copyright in the designs and compilation of all Content of Our Website. Title, ownership rights, and shall remain the sole property of us and / or the other content provider. We will strongly protect those rights in all countries.

10.3 Except as set out below, you may not copy, modify, publish, transmit, transfer or sell, reproduce, create derivative works from, distribute, perform, display, or in any way exploit any of the Content, in whole or in part.

10.4 You may not use our name or logos or trademarks or any other Content on any website of yours or that of any other person.

10.5 Subject to the other terms of this agreement, you may download or copy Content only for your own personal use, provided that you maintain all copyright and other notices contained in it. You may not store electronically any significant portion of any Content.

11. Your email address

11.1 You represent that any username or email address selected by you, when used alone or combined with a second or third level domain name, does not interfere with the rights of any third party and has not been selected for any unlawful purpose.

11.2 You acknowledge and agree that if we believe such selection does interfere with the rights of any third party or is being selected for any unlawful purpose, we may immediately suspend the use of such name or email address, and you will indemnify us for any claim or demand that arises out of your selection.

11.3 You acknowledge and agree that we shall not be liable to you in the event that we are ordered or required by a court or judicial authority, to desist from using or permitting the use of a particular domain name as part of a name or email address.

12. System Security

12.1 We will do our best to maintain Our Website so that you have constant use, but there will be times when your use may be interrupted.

12.2 You agree that you will not, and will not allow any other person to violate or attempt to violate any aspect of the security of Our Website.

12.3 You may not use any software tool for the purpose of extracting data from our website.

12.4 You understand that any such violation is unlawful in many jurisdictions and that any contravention of law may result in criminal prosecution.

13. Indemnity

You agree to indemnify us against any claim or demand, including reasonable lawyers’ fees, made by any third party due to or arising in any way out of your use of Our Website, your posting any Material, or the infringement by you, or by any other person using your computer, of any intellectual property or other right of any person.

14. Miscellaneous provisions

14.1 When we communicate with you we do so by email. You agree that email communications are contractually binding in the same way as properly signed and dated paper sent by post.

14.2 Where we provide goods or services without specific charge to you, then it (or they) is deemed to be provided free of charge, and not to be associated with any other goods or service for which a charge is made. Accordingly, there is no contractual nor other obligation upon us in respect of those goods or service.

14.3 Nothing in this agreement or on Our Website shall confer on any third party any benefit or obligation.

14.4 If any of these terms is at any time held by any jurisdiction to be void, invalid or unenforceable, then it shall be treated as changed or reduced, only to the extent minimally necessary to bring it within the laws of that jurisdiction and to prevent it from being void and it shall be binding in that changed or reduced form. Subject to that, each provision shall be interpreted as severable and shall not in any way affect any other of these terms.

14.5 No waiver by us, in exercising any right, power or provision in this agreement shall operate as a waiver of any other right or of that same right at a future time; nor shall any delay in exercise of any power or right be interpreted as a waiver.

14.6 In the event of a dispute arising out of or in connection with these terms or any contract between you and us, then you agree to attempt to settle the dispute by engaging in good faith with us in a process of mediation before commencing arbitration or litigation.

14.7 We are not liable for any breach of our obligations resulting from causes beyond our reasonable control including strikes of our own employees.

14.8 This Agreement shall be governed by and construed in accordance with the law of Australia. Legal proceedings will take place in Brisbane, Queensland. This agreement shall not be governed by the United Nations Convention on Contracts for the International Sale of Goods, the application of which is hereby expressly excluded.

Termination of retail agreement or retail contract

With the end or termination of a retail agreement the retailer losses all rights as an official dealer and all POS- and Display materials, and unpaid watches & good, including consignment stock, that have been provided by Define Imports Pty Ltd are to be returned by the retailer, in good condition and securely packed back to the address of the owner, Define Imports Pty Ltd. within 14 days of the termination of the contract or sales agreement.

Return shipping of all goods and materials owned by Define Imports Pty Ltd will be organized at the expense of the retailer.

Materials which have not been sent back to the rightful owner, Define Imports Pty Ltd within 14 days of contract expiry will be charged to the retailer at Define Import’s buying cost; however these materials must not be used as brand display to the public after the contract or agreement has been terminated and the retailer’s authorized retailer status is revoked or has been surrendered.

After termination of the agreement, the retail retailer will remove all references to Define Imports and its brands and delete all authorized retailer status claims from its own retail/distribution outlet shop, websites and advertising. Failure to do so will result in legal action on behalf of the authorized exclusive Importer, Define Imports Pty Ltd.

Warranty

All timepieces purchased from Define Imports Pty Ltd (Trading as Define Watches) and/or authorized Australian dealers carry the full Australian plus international warranty as specified by each manufacturer.

All international warranty cases, for purchases in countries other than Australia, will be carried out under the following conditions:

1. the international guarantee card is signed, dated and stamped by an authorized dealer, and accompanies the timepiece
2. together with invoice copy and original box when it is returned for repair,
3. the serial number on the watch case is legible,
4. no unauthorized repairs or parts have been conducted or used on the timepiece prior to the warranty claim,
5. warranty returns must be securely packaged to prevent damage during transit and
6. the cost and risk of sending timepieces to and back from Define Imports is carried by the sender
7. Define Watches will charge a service fee for warranty services on watches not purchased in Australia in order to cover handling, shipping and insurance cost involved
8. Grey imported watches without traceability of origin are not covered by any Australian warranty!

International warranty service on timepieces purchase outside Australia through non authorized Australian dealers, after Jan 2009, can be delivered, but will be charged.

All watches sold by Define Watches are supplied with official instruction booklets and certificates. In all cases, in order to preserve your warranty rights, please follow the advice provided within these documents carefully as the guarantee can be voided by inappropriate use or treatment of your timepiece.

Please note that only our official Service Center is authorized to work on watch brands sold by Define Watches. Every repair attempt or opening of a watch case by another watchmaker will result in loss of warranty for the watch!

Service

As the official Australian agent for all brands promoted by Define Watches, the company is authorized to accept these watches for service or repair. Customers should be aware that in some cases it will be possible to service the timepiece in Australia, via authorized service partners, however in cases of repairs relating to specific patented technology or special, bespoke movements the timepieces may need to be returned to the original manufacturer for correct service.

We offer our customers partial security for their timepiece. Your watch is insured from the moment Define Watches acknowledges receipt of the timepiece until such time as it is returned to you.

Customers should also be aware that precision and limited edition German and Swiss timepieces require comprehensive servicing including pressure tests, timing and other function regulation, cleaning and replacement of parts. Define Watches takes care that your timepiece is returned in working order consistent with the manufacturer’s international quality guidelines. Your satisfaction is our main objective.In the case of back orders (including non-stock, special, bespoke, & limited edition items), if a deposit/on goping payments have been made, payment of full balance is due within 14 days of notification that items has been completed at the manufacturer and is ready for shipment from the manufacturer to Australia, unless otherwise agreed and confirmed in writing by Define Watches. Failure to make full payment within this timeframe will result in cancellation of order and forfeiture of all deposits/interim payments made on the order.4.7 In the case of back orders (including non-stock, special, bespoke, & limited edition items), if a deposit/on goping payments have been made, payment of full balance is due within 14 days of notification that items has been completed at the manufacturer and is ready for shipment from the manufacturer to Australia, unless otherwise agreed and confirmed in writing by Define Watches. Failure to make full payment within this timeframe will result in cancellation of order and forfeiture of all deposits/interim payments made on the order.

4.7.1  In the event of non-payment, as outlined in section 4.7, the Seller reserves the right to consider the Buyer in breach of the sales contract and charge a penalty fee of 20% of the balance due.