Policies
Invoicing & Billing Terms
All billing will be generated the first Wednesday of each month. Our terms are Net 30 days. The retainer
can be billed monthly, quarterly, or on an annual basis - at the client's discretion. All project work
is typically billed upon completion of said project, unless otherwise specified in the Scope
of Project Work Memorandum supplied with each project.
All project work will be billed for actual time. No minimum billable time or travel time will be billed,
unless otherwise specified in the Scope of Project Work Memorandum supplied
with each project.
Outstanding balances over 65 days are subject to forfeiture of the retainer discount. The client will
be contacted by our CFO no later than the 61st day from the original invoice date. The invoice will be
recalculated at the standard hourly rate and a new revised invoice will be generated and mailed on the
66th day from the original invoice date.
Outstanding balances over 91 days are subject to a 7% late fee, in addition to the forfeiture of the
retainer discount. The fee is calculated on the outstanding balance as of the 91st day from the original
invoice date. A separate revised invoice will be sent on the 97th day from the original invoice date
if payment is not received. Special reminder notes will be provided on invoices over 60 days alerting
clients of the potential late fee. The client will also be contacted by our CFO on 85th day from the
original invoice date.
Accounts with outstanding balances over 110 days will permanently null and void their retainer agreement.
All future work will be billed in advance of work performed. Our President will also contact the client
by the 100th day from the original invoice date.
Checks returned for "insufficient funds" will be charged a $50.00 returned check fee. This
will cover the fees charged by our financial institution and the necessary internal administration cost.
All fees and penalties are also subject to outstanding balance charges. The client shall be responsible
for all attorney and collection agency fees incurred in the process of collecting accounts balances over
120 days.
Our invoices are produced from a computer generated AR/AP program. Any outstanding balances over 180
days are purged and charged off, and reported as required by the IRS tax codes for corporations.
Our goal is not to penalize our clients but to continue to maintain a competitive rate structure without
the need to raise our rates to offset outstanding account receivables.
Last updated 11/1/2003
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