Payment Policy

1. Introduction

This Payment Policy outlines the terms and conditions related to payments for products and services provided by Saraswoti Media Pvt. Ltd. ("Company," "we," "us," or "our"). By engaging our services or purchasing our products, you agree to comply with this Payment Policy.

Saraswoti Media Pvt. Ltd. is a registered company in Nepal, providing signage, branding, digital marketing, and related services. Our principal place of business is located in Putalisadak, Kathmandu, Nepal.

2. Accepted Payment Methods

We accept the following payment methods for your convenience:

2.1 Bank Transfer

• Direct bank transfer to our company account
• SWIFT transfers for international clients
• InterBank Payment System (IPS) transfers

2.2 Digital Wallets

• eSewa
• Khalti
• IME Pay
• ConnectIPS

2.3 Mobile Banking

• All major Nepali bank mobile banking apps
• QR code payments

2.4 Cash Payments

• Cash payments accepted at our office location
• Cash on delivery available for select products and locations within Kathmandu Valley

2.5 Cheque Payments

• Account payee cheques only
• Cheques must be drawn on Nepali banks
• Post-dated cheques may be accepted for approved corporate accounts

3. Payment Terms

3.1 Quotations and Estimates

• All quotations are valid for 15 days from the date of issue unless otherwise specified
• Prices are subject to change without prior notice after quotation validity period
• Quotations do not include government taxes unless explicitly stated

3.2 Advance Payment Requirements

For most services and custom products, we require advance payment as follows:

• Standard Orders: 50% advance payment before production begins
• Custom/Large Orders: 60-70% advance payment may be required
• New Clients: 100% advance payment may be required for first-time orders
• Corporate Accounts: Credit terms available upon approval (see Section 3.4)

3.3 Balance Payment

• Remaining balance must be paid before delivery or installation
• For installation services, payment must be completed before our team leaves the site
• Products will not be released without full payment unless credit terms apply

3.4 Corporate Credit Terms

Established businesses may apply for credit terms subject to:

• Minimum 6 months of business relationship with satisfactory payment history
• Credit application and company documentation
• Credit limit determination based on order history
• Net 15 or Net 30 payment terms upon approval
• Credit terms may be revoked for late payments

4. Invoicing

4.1 Invoice Generation

• Invoices are generated upon order confirmation
• Digital invoices sent via email and/or WhatsApp
• Physical invoices available upon request
• All invoices include VAT/PAN details as required by Nepali law

4.2 Invoice Details

All invoices include:

• Company PAN number and registration details
• Itemized list of products/services
• Unit prices and quantities
• Applicable taxes (VAT at prevailing rate)
• Payment terms and due date
• Bank account details for payment

4.3 Invoice Disputes

• Invoice disputes must be raised within 7 days of receipt
• Disputes should be submitted in writing via email
• Undisputed portions must be paid by the due date

5. Taxes

5.1 Value Added Tax (VAT)

• All prices are subject to 13% VAT as per Nepal government regulations
• VAT-registered businesses can claim input tax credit with proper documentation
• VAT invoices are issued for all taxable transactions

5.2 Tax Deduction at Source (TDS)

• Government entities and applicable businesses may deduct TDS at source
• TDS certificates must be provided within 15 days of deduction
• Invoice amounts are exclusive of TDS unless otherwise stated

6. Late Payment

6.1 Late Payment Consequences

• Payments not received by the due date are considered late
• Late payment fee of 2% per month may be applied to overdue amounts
• Services and deliveries may be suspended for accounts with overdue payments
• Credit terms may be revoked after repeated late payments

6.2 Collection Procedures

• Payment reminders sent at 7, 14, and 21 days overdue
• Accounts 30+ days overdue may be referred to collection
• Legal action may be pursued for accounts 60+ days overdue
• Client responsible for all collection costs and legal fees

7. Refunds and Cancellations

7.1 Cancellation Policy

• Orders may be cancelled within 24 hours of placement for full refund
• Cancellations after production begins are subject to fees (see below)
• Custom/personalized products cannot be cancelled once production starts

7.2 Cancellation Fees

• Before design approval: 10% administrative fee
• After design approval, before production: 25% of order value
• During production: 50-100% depending on completion stage
• Completed orders: No refund for custom products

7.3 Refund Processing

• Approved refunds processed within 7-14 business days
• Refunds issued via original payment method when possible
• Bank transfer refunds may take additional 3-5 business days
• Digital wallet refunds processed within 24-48 hours

7.4 Non-Refundable Items

• Design and consultation fees once services are rendered
• Custom/personalized products manufactured to specification
• Installation services once completed
• Rush/expedited service fees

8. Price Adjustments

8.1 Price Changes

• Prices may change due to material cost fluctuations
• Confirmed orders with advance payment are protected from price increases
• Long-term contracts may include price adjustment clauses

8.2 Scope Changes

• Changes to order scope may result in price adjustments
• Additional charges communicated and approved before work proceeds
• Written approval required for scope changes exceeding 10% of original quote

9. Currency

• All prices quoted and payments accepted in Nepali Rupees (NPR)
• International clients may pay in USD at prevailing exchange rates
• Exchange rate determined at time of payment
• Any bank charges for international transfers are client's responsibility

10. Payment Security

• We do not store credit card or sensitive payment information
• All digital payments processed through secure, authorized gateways
• Bank account details verified before processing refunds
• We will never ask for passwords or PINs

11. Disputes and Resolution

• Payment disputes should be raised within 30 days of transaction
• Contact our accounts department at [email protected]
• Disputes will be investigated and resolved within 14 business days
• Unresolved disputes may be escalated to management

12. Contact Information

For payment-related queries, please contact:

13. Policy Updates

We reserve the right to modify this Payment Policy at any time. Changes will be effective immediately upon posting to our website. Continued use of our services after changes constitutes acceptance of the modified policy. We encourage you to review this policy periodically for any updates.