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मलिक फेंसिंग सॉल्यूशन

आप की सुरक्षा हमारा कर्त्तव्य

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Malik Fencing Solution: Payment & Billing Policy

This policy governs the terms of engagement, payment, and legal recourse for all services rendered by Malik Fencing Solution (referred to as "MFS" or "The Company"). By confirming a project, the client (referred to as "The Customer") agrees to abide by these terms.

1. Scope of Agreement

A formal Work Order or Service Contract will be issued for every project. This document, once accepted by The Customer, will legally bind both parties and shall clearly outline:

  • Detailed scope of work and materials.

  • Total project cost (exclusive of applicable taxes like GST).

  • Agreed-upon payment schedule (e.g., milestone-based, lump-sum).

  • Projected completion date.

2. Standard Payment Schedule

Unless explicitly agreed otherwise in the formal Work Order, the following standard payment structure shall apply:

Milestone

Payment Due

30% of Total Project Value

Purpose

Progress Payment

Initial Deposit (Advance)

Final Payment

Due immediately upon signing the Work Order to secure materials and schedule resources.

20% of Total Project Value

50% of Total Project Value

Due upon the completion of a major milestone (e.g., delivery of all materials to site or 50% of fence posts installed). The specific milestone will be defined in the Work Order.

Due immediately upon Substantial Completion of the work.

Note on Substantial Completion: Work is deemed substantially complete when the fencing structure is fully erected and ready for the Customer's intended use, regardless of minor finishing or clean-up tasks.

3. Invoicing and Payment Terms

  • Invoicing: Invoices will be raised by MFS upon reaching each payment milestone.

  • Due Date: All invoices are strictly payable within 7 (Seven) calendar days from the date of the invoice (Net 7).

  • Payment Methods: We accept payments via bank transfer (NEFT/RTGS/IMPS), cheque, or demand draft. Any charges associated with cheque dishonour will be borne by The Customer.

  • Taxes: All prices quoted are exclusive of Goods and Services Tax (GST), which will be charged at the prevailing rate as per the Government of India regulations and displayed separately on the invoice.

4. Default and Late Payment Policy

Time is of the essence in this contract. Failure to remit payment by the due date constitutes a breach of contract and will trigger the following actions:

A. Late Payment Charges

If any invoice remains unpaid after the 7-day due period, MFS reserves the right to charge interest at the rate of 1.5% per month (or 18% per annum) on the overdue balance, calculated from the day following the due date until the date of actual payment. This charge is permitted under the provisions of the Indian Contract Act, 1872.

B. Suspension of Work

If any payment is more than 15 days overdue, MFS reserves the right to immediately suspend all work on the project, including the delivery of any remaining materials, without penalty to The Company. Work will only recommence once the full outstanding balance, including accrued interest, is paid. The timeline for project completion will be extended by the duration of the suspension.

C. Legal Recourse (Action for Non-Payment)

If the outstanding balance remains unpaid after 30 days from the due date, The Company will initiate formal legal recovery proceedings:

  1. Legal Notice: MFS will issue a formal Legal Demand Notice to The Customer, demanding immediate payment of the full outstanding amount, including late payment charges and the cost of the notice itself, within a stipulated period (usually 15 days).

  2. Suit for Recovery: If the payment is not received following the Legal Notice, MFS reserves the right to file a Summary Suit (under Order XXXVII of the Civil Procedure Code, 1908) or a regular Suit for Recovery of Money against The Customer in the appropriate court.

  3. Jurisdiction: Any and all disputes arising out of this payment policy and the Work Order shall be subject to the exclusive jurisdiction of the Courts in Sonipat, Haryana, India.

5. Cancellation and Termination

  • Cancellation by Customer: If The Customer cancels the work after the Work Order is signed and the Initial Deposit is paid, the Initial Deposit (30% of the project value) shall be non-refundable as it covers administrative costs, material procurement, and lost business opportunity.

  • Termination for Default: MFS reserves the right to terminate the Work Order if the Customer defaults on any payment obligation. Upon termination, the Customer shall remain liable for:

    • Payment for all work completed up to the date of termination.​

    • Cost of all materials procured specifically for the project.

    • The non-refundable Initial Deposit.

6. Governing Law and Jurisdiction

This policy and all contracts derived from it shall be governed by and construed in accordance with the laws of India. The Customer acknowledges that the Courts in Sonipat, Haryana shall have exclusive jurisdiction to resolve any disputes arising under this agreement.

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