Treinetic

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Payment Policy

Last Updated on 2024-09-27

1. Introduction

Treinetic is committed to providing exceptional service to our clients. This Payment Policy outlines the terms and conditions under which payments for services rendered must be made. By engaging our services, clients agree to adhere to this policy.

2. Payment Terms

  • Invoices: All invoices will be issued upon completion of agreed milestones or on a monthly basis for ongoing services.
  • Due Date: Payment is due within 30 days from the invoice date unless otherwise specified in the contract.
  • Payment Methods: We accept payments via bank transfer only to our USA or Sri Lankan bank accounts.
  • Currency: All payments should be made in US Dollars (USD) unless otherwise agreed upon in writing.

3. Advance Payments

  • Retainer Fees: For certain projects, we require an advance payment or retainer fee, which will be specified in the contract.
  • Project Initiation: No project work will commence until the advance payment is received.

4. Late Payments

  • Initial Late Fee Application: After a warning is issued at 90 days past due, a late fee of 10% will be added to the total outstanding invoice amount. This includes any previously applied late fees.
  • Monthly Compounding Late Fees: Starting the month following the initial late fee, an additional 10% will be added each month to the total outstanding balance, compounding the late fee.
  • Interest Charges: A monthly interest charge of 1.5% will also be applied to the outstanding balance in addition to the late fees.
  • Communication Timeline
    • 15 Days Past Due: A friendly reminder email will be sent to the customer.
    • 30 Days Past Due: A second reminder email will be sent, highlighting the late fee policy and the outstanding balance.
    • 60 Days Past Due: We will initiate communication via phone or mail to discuss the overdue payment and potential consequences.
    • 90 Days Past Due: We may consider further actions, such as suspending services or referring the account to a collection agency, which may incur additional fees.

5. Disputes

  • Invoice Disputes: If you believe your invoice is incorrect, please contact our accounting department at [email protected] within 5 days of receiving the invoice. We will investigate any discrepancies and adjust the invoice accordingly.
  • Resolution: Clients are expected to pay the undisputed portion of the invoice by the due date.

6. Refunds

  • Policy: Refunds are issued only in cases where services have not been delivered as per the agreement. Refund requests must be made in writing within 30 days of service delivery.
  • Approval: All refund requests will be reviewed and processed within 15 business days.

7. Confidentiality

All payment information is treated with the highest level of confidentiality and security. Treinetic complies with all applicable data protection regulations.

8. Amendments

Treinetic reserves the right to amend this Payment Policy at any time. Clients will be notified of any changes via email or our website.

9. Contact Information

For any questions or concerns regarding this Payment Policy, please contact our finance department at:

  • Introduction
Treinetic is committed to providing exceptional service to our clients. This Payment Policy outlines the terms and conditions under which payments for services rendered must be made. By engaging our services, clients agree to adhere to this policy.
  • Payment Terms
  • Invoices: All invoices will be issued upon completion of agreed milestones or on a monthly basis for ongoing services.
  • Due Date: Payment is due within 30 days from the invoice date unless otherwise specified in the contract.
  • Payment Methods: We accept payments via bank transfer, credit card, and online payment platforms (e.g., PayPal).
  • Currency: All payments should be made in US Dollars (USD) unless otherwise agreed upon in writing.
  • Advance Payments
  • Retainer Fees: For certain projects, we require an advance payment or retainer fee, which will be specified in the contract.
  • Project Initiation: No project work will commence until the advance payment is received.
  • Late Payments
  • Late Fees: A late fee of 10% will be applied to any outstanding balance after 90 days from the due date. The late fee will be calculated on the total outstanding invoice amount, including any previously applied late fees. Late fees will be compounded monthly until the balance is paid in full.
  • Interest: In addition to the late fee, late payments may incur an interest charge of 1.5% per month on the outstanding balance.
  • Late Payment Timeline:
    • 15 Days Past Due: A friendly reminder email will be sent to the customer.
    • 30 Days Past Due: A second reminder email will be sent, highlighting the late fee policy and the outstanding balance.
    • 60 Days Past Due: We will initiate communication via phone or mail to discuss the overdue payment and potential consequences.
    • 90 Days Past Due: We may consider further actions, such as suspending services or referring the account to a collection agency. These actions will incur additional fees.
  • Disputes
  • Invoice Disputes: If you believe your invoice is incorrect, please contact our accounting department at [email protected] within 5 days of receiving the invoice. We will investigate any discrepancies and adjust the invoice accordingly.
  • Resolution: Clients are expected to pay the undisputed portion of the invoice by the due date.
  • Refunds
  • Policy: Refunds are issued only in cases where services have not been delivered as per the agreement. Refund requests must be made in writing within 30 days of service delivery.
  • Approval: All refund requests will be reviewed and processed within 15 business days.
  • Confidentiality

All payment information is treated with the highest level of confidentiality and security. Treinetic complies with all applicable data protection regulations.

  • Amendments

Treinetic reserves the right to amend this Payment Policy at any time. Clients will be notified of any changes via email or our website.

  • Contact Information
For any questions or concerns regarding this Payment Policy, please contact our finance department at: