Payment Terms

These Payment Terms (“Terms”) govern the payment obligations and procedures for services provided by Apexric (“Company,” “we,” “our,” or “us”). By engaging in our services, including Investment Management, Tax and Advisory, Loan Lending, Auditing, Accounting and Bookkeeping, Registration and Filing, and Business Consulting, you (“Client,” “you,” or “your”) agree to comply with these Payment Terms. These Terms are applicable to all services rendered by the Company unless otherwise stipulated in a specific agreement or engagement letter.

1. Definitions

Services: All professional services provided by Apexric including but not limited to Investment Management, Tax and Advisory, Loan Lending, Auditing, Accounting and Bookkeeping, Registration and Filing, and Business Consulting.
Invoice: A document issued by the Company specifying the amount due for the services rendered or products delivered to the Client.
Fee: The price or amount charged for the provision of services, as agreed upon between the Client and the Company.
Payment Schedule: A predefined timeline or milestones for payment, if applicable.
Late Fee: A fee charged for late payment beyond the agreed due date.
Client: The individual, business, or entity receiving services from the Company.

2. Fee Structure

2.1 Fixed Fees

Certain services may have a fixed fee that is predetermined and agreed upon at the outset of the engagement. This fee will be clearly stated in the engagement letter or Service Agreement and is non-negotiable once accepted by the Client.

2.2 Hourly Fees

For services charged on an hourly basis, the applicable rate will be communicated to the Client in the engagement letter or Service Agreement. The total fee will be calculated based on the actual time spent by our professionals in providing the services. Time spent includes preparation, meetings, consultation, and any other activities related to the service delivery.

2.3 Retainer Fees

Some services may require an advance payment or retainer fee before the commencement of work. The amount of the retainer will be specified in the Service Agreement and will be credited against future invoices unless otherwise specified. Retainers are generally non-refundable unless explicitly agreed upon in writing.

2.4 Project-Based Fees

For large projects, the Company may provide a total project cost, broken down into phases or milestones. Payments will be due at specified intervals, as outlined in the project proposal or Service Agreement.

2.5 Variable and Contingency Fees

For services such as investment management or business consulting, the fees may be contingent upon the achievement of specific goals or outcomes. These fees will be outlined in the Service Agreement, and the Client will be informed of the contingency fee structure before the engagement begins.

3. Invoicing

3.1 Invoice Issuance

The Company will issue an invoice either upon the completion of services, at regular intervals (e.g., monthly), or at predetermined milestones, as defined in the Service Agreement. Each invoice will contain:

A detailed description of the services provided.
The total amount due, including applicable taxes.
The payment due date.
Instructions for making payment.

3.2 Electronic Invoices

Invoices will be sent electronically to the email address provided by the Client unless otherwise agreed. It is the responsibility of the Client to ensure that the email address on file is current and capable of receiving electronic communications.

3.3 Currency

All invoices will be issued in [Insert Currency], unless otherwise agreed upon. Payments must be made in the specified currency.

4. Payment Methods

We accept the following payment methods:

Bank Transfer (NEFT, RTGS, IMPS): Clients may pay via direct bank transfer to the Company’s designated account. The bank details will be provided in the invoice or upon request.
Credit/Debit Card: Payments can be made using Visa, Mastercard, or other major credit and debit cards. Transaction fees may apply and will be the responsibility of the Client unless otherwise specified.
Online Payment Gateways: The Company may accept payments through third-party payment gateways, such as PayPal or Razorpay. Any service charges or transaction fees from such gateways are the Client’s responsibility.
Cheque: Payments via cheque are accepted, but services will only commence upon the successful clearance of the cheque. Returned cheques due to insufficient funds or any other reason will incur additional fees.
Demand Draft (DD): Clients may make payments through demand drafts drawn in favor of Apexric The DD must be sent to the Company’s registered office, and services will commence once the DD is processed and cleared.

5. Payment Due Date

5.1 Standard Payment Terms

Payment for services rendered is due within 30-90 working days from the date of the invoice unless otherwise agreed in writing. All invoices will clearly state the payment due date. Failure to make payment within the stipulated time frame will result in the application of late payment fees as detailed below.

5.2 Milestone Payments

For projects or engagements that involve phased delivery, payments are due upon the completion of specific milestones. The milestones and associated payments will be outlined in the Service Agreement. Non-payment of any milestone fee will halt the progression of the project until the outstanding amount is settled.

5.3 Advance Payments

In certain cases, advance payment or deposit may be required before the commencement of services. This requirement will be specified in the Service Agreement or engagement letter. Advance payments are generally non-refundable unless specifically agreed upon otherwise.

6. Late Payments

6.1 Late Payment Fees

If payment is not received by the due date specified in the invoice, the Client will be subject to a late fee of 2.34% of the outstanding amount per month, or the maximum rate permitted by law, whichever is less. Late fees will accrue until the full outstanding balance is paid.

6.2 Suspension of Services

The Company reserves the right to suspend or discontinue the provision of services if the Client fails to make timely payment. The suspension of services will continue until all outstanding amounts, including late fees, are paid in full. The Company will notify the Client prior to suspending services, and any delay caused by non-payment will not alter the original delivery schedule or deadlines.

6.3 Collection Costs

In the event that the Company must initiate collection efforts to recover unpaid amounts, the Client will be responsible for all costs incurred, including attorney fees, court costs, and collection agency fees, to the fullest extent permitted by law.

7. Refund Policy

7.1 No Refunds

Unless otherwise stipulated in the Service Agreement, all payments made for services rendered are non-refundable. If the Client terminates the engagement prematurely, the Company reserves the right to retain any advance payments or deposits as compensation for services already performed or work-in-progress.

7.2 Exceptional Refunds

In the event of an error on the part of the Company that materially affects the outcome of the service, a partial refund may be considered at the sole discretion of the Company. Requests for refunds must be submitted in writing within 90-30 days of the date of the invoice or delivery of the service.

8. Disputed Charges

8.1 Notification of Dispute

If the Client disputes any portion of an invoice, they must notify the Company in writing within 2-3 days of the invoice date. The notice must include the specific amount in dispute and the reason for the dispute. The undisputed portion of the invoice must be paid by the original due date.

8.2 Resolution

The Company will review the dispute and work with the Client to resolve it in good faith. If the dispute is resolved in favor of the Client, the Client will receive a credit or refund for the disputed amount. If the dispute is resolved in favor of the Company, the Client must pay the outstanding amount immediately.

9. Changes in Fees

The Company reserves the right to adjust its fees for services at any time. However, any fee changes will not affect services for which a Client has already entered into a binding agreement or engagement. The Client will be notified of fee changes before they take effect.

10. Taxes and Duties

All fees quoted by the Company are exclusive of any applicable taxes, including Goods and Services Tax (GST), value-added tax (VAT), or other similar taxes. The Client is responsible for paying all applicable taxes and duties. If the Company is required to collect and remit taxes on behalf of the Client, these amounts will be added to the invoice.

11. Termination and Payment Obligations

11.1 Termination by Client

If the Client terminates the engagement before the completion of services, the Client will be responsible for paying all outstanding fees for services rendered up to the date of termination. Any unpaid fees will be due immediately upon termination.

11.2 Termination by Company

If the Company terminates the engagement due to non-payment or breach of these Payment Terms, the Client will be responsible for all unpaid fees and any costs associated with the termination.

12. Miscellaneous

12.1 Governing Law

These Payment Terms are governed by the laws. Any disputes related to these Terms will be resolved in the courts.

12.2 Entire Agreement

These Payment Terms, along with the Service Agreement, constitute the entire understanding between the Client and the Company with respect to payment

Apexric
contact@apexric.com
+91 809 802 8017