The Client agrees to pay Retainer Fees against Invoices at 50% at the beginning of
the project and remaining 50% before delivery of the website and 100% advance on monthly retainer fees at the beginning of the month.
All other Invoices raised on the Client will become payable within 10 days (about 1 and a half weeks) from the date of all such Invoices. Payments will be considered late if not received within Ten (10) days after receiving the invoice. All late payments are subject to a finance charge of 5% per month (18% APR), In the event of delayed payment, Dtroffle also reserves the right to place the project outlined in the above proposal on hold.
Late Payment Clause
1. Late Fee: If the Client fails to pay the invoice within 10 (ten) days of its issuance, a late fee of 5% of the outstanding balance will be charged on a weekly basis until the payment is received in full. The late fee will be compounded weekly.
2. Service Discontinuation: If the Client fails to pay the invoice and accrued late fees within three (3) consecutive weeks,the Agency may temporarily suspend or discontinue project activities until the outstanding balance is paid in full.
3. Project Resumption and Fee Adjustment: Upon the Client’s payment of the outstanding balance, the Agency will reassess the project’s status and determine the appropriate course of action. If the project has been significantly delayed due to the Client’s non-payment, the Agency may need to adjust the project timeline or fees to account for additional time and resources required.
4. Client’s Obligations: The Client acknowledges and agrees that timely payment of invoices is essential to the ongoing provision of services. Failure to adhere to the terms of this clause may result in service interruptions and potential project delays.
Contract Terms of Payment
1. Payment Schedule: The Client agrees to pay the Agency’s invoices according to the agreed-upon payment terms, typically Monthly and quarterly.
2. Payment Methods: Payments shall be made by (ANANT ADD)
3. Invoicing: The Agency will provide the Client with an invoice detailing the services rendered and the corresponding fees.
4. Late Payments: The Client acknowledges that late payments may result in the imposition of late fees and potential service interruptions, as outlined in Annexure B.