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General payment terms & conditions

By establishing these detailed payment terms and conditions, we ensure a transparent and structured financial agreement with our clients, facilitating a smooth operational workflow and maintaining the integrity of our financial transactions.

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1. General Conditions

  • These terms aim to encourage timely payments, ensure fairness in our billing practices, and are standard unless specified in our offers/quotations or agreed upon differently.
  • We reserve the right to modify payment terms for individual clients based on mutual agreement or as required.

2. Standard Payment Terms

  • Payment Due: Payment for invoices is due within 5 workdays from the invoice date, unless explicitly specified or otherwise agreed.
  • Initial Grace Period: An additional grace period of 5 workdays is provided for payments post due date.
  • Late Fee: A late fee of 7.5% of the invoiced amount is added if payment is not received within 10 workdays from the invoice date.
  • Repeat Offenders: Clients failing to pay within the initial 5 workdays will incur a late fee immediately after these 5 workdays for future invoices, bypassing the standard 10 workday period.

3. Deposit and Prepayment Terms

  • General Policy: Unless explicitly specified or otherwise agreed, all projects require a deposit/prepayment that will be allocated towards setup/startup costs for the project.
  • For Projects up to $2,000 (USD): A 60% prepayment is required. The remaining balance of 40% is payable upon completion or divided into a 30% intermediate payment and a final 10% payment upon completion.
  • For Projects up to $4,000 (USD): A 50% prepayment is required. The remaining balance of 50% is payable upon completion or divided into a 30% intermediate payment and a final 20% payment upon completion.
  • For Projects above $4,000 (USD): A 40% prepayment is required. The remaining balance of 60% is payable upon completion or divided into a 40% intermediate payment and a final 20% payment upon completion.
  • Prepayment Due: Immediately upon invoicing, following offer/quotation approval.
  • Prepayment Refunds: Partially refundable if canceled within 10 workdays of agreement signing/quotation approval, based on work done, costs incurred, and lost income. In any case an administration fee may be withheld in case of project cancelation after agreement signing/quotation approval.

4. Payment Methods and Currencies

  • General Policy: Unless explicitly specified or otherwise agreed, all payments shall be made through bank transfer/deposit in the invoiced currency.
  • Currency Exchange: Exchange rate for payments in other than the invoiced currencies is set by us on the day of payment.

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