Payment Terms Policy

Last updated: January 01, 2024

Introduction

Welcome to the Payment Terms & Policy of InfoBits Technologies FZE (UAE) and its US subsidiary Infobits Inc. This document outlines the payment terms and conditions for the custom tailor-made solutions we provide, including ERP, accounting software, CRM, and HRMs for various sectors.

Payment Cycle

The payment cycle for our services is defined on a project basis. Clients will be provided with a detailed payment schedule upon project initiation.

Advance Payment

Clients are required to make an advance payment ranging from 20% to 50% of the total project cost, depending on the complexity and scope of the project. This advance payment is non-refundable and is intended to secure our commitment to initiate the project.

Milestone Payments

The remaining project cost will be divided into milestones, and payments are to be made upon successful completion of each milestone. Milestones will be clearly defined in the project scope / functional specification document and agreed upon by both parties.

Payment Methods

We accept payments through bank transfer, visa credit/debit cards, PayPal. Details of payment methods will be provided in the project agreement.

Late Payments

Late payments may incur additional charges. A 5% per month late fee may be applied for payments not received within 30 days of the due date.

Project Suspension

Failure to make timely payments may result in the suspension of project work until outstanding payments are received. Infobits Technologies reserves the right to withhold deliverables until all payments are up-to-date.

Refund Policy

The advance payment is non-refundable. In the event of project termination or cancellation, any payments made for completed milestones are non-refundable. Refund eligibility for partially completed milestones will be assessed on a case-by-case basis.

Contact Information

If you have any questions or concerns regarding our Payment Terms Policy, please contact us at contactus@infobits.us or call +1 (469) 618-3334

Thank you for choosing InfoBits Technologies.