Payment Terms as per MSME Act

These Payment Terms are in accordance with the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006, and govern the provision of services by Pixel9 ("Company") to its clients ("Client"). By engaging Pixel9's services, the Client agrees to be bound by these Payment Terms.

1. Payment Schedule:

1.1 Service Fees:

• The Client agrees to pay Pixel9 the fees for services as mutually agreed upon.

• Service fees are exclusive of taxes unless otherwise stated.

1.2 Advance Payment:

• Pixel9 may require an advance payment not exceeding 50% of the service fees before commencing work.

• The advance payment amount will be communicated to the Client prior to the commencement of services.

1.3 Invoice Schedule:

• Invoices will be issued as per the agreed-upon payment schedule.

• Invoices will include a detailed breakdown of services provided and associated costs.

2. Payment Method:

2.1 Mode of Payment:

• Payments are to be made via bank transfer, cheque, or any other method agreed upon by both parties.

2.2 Bank Details:

• Bank account details for making payments will be provided on the invoice.

3. Late Payment:

3.1 Late Payment Penalty:

• Payments not received by the due date are subject to a late payment penalty at three times the bank rate notified by RBI per day until the outstanding amount is settled.

3.2 Suspension of Services:

• Pixel9 reserves the right to suspend services if payment is not received within 45 days of the due date.

4. Refunds:

4.1 Refund Policy:

• Refunds, if applicable, will be made within 15 days from the date of receipt of the request for such refund.

• Refund requests must be made in writing to contact@pixel9.in within 30 days of service delivery.

5. Dispute Resolution:

5.1 Dispute Resolution:

• In the event of any dispute regarding payments, both parties agree to resolve the matter through conciliation or arbitration as per the provisions of the MSMED Act, 2006.

6. Taxes:

6.1 Tax Liability:

• The Client is responsible for any applicable taxes on the services provided by Pixel9.

7. Modification of Payment Terms:

7.1 Modification:

• Pixel9 reserves the right to modify these Payment Terms at any time.

7.2 Notification:

• Any modifications to the Payment Terms will be communicated to the Client in writing.

8. Acceptance of Payment Terms:

8.1 Acceptance:

• By engaging Pixel9's services, the Client acknowledges and agrees to abide by these Payment Terms.

These Payment Terms are effective as of 02-05-2013 and shall remain in effect until terminated by either party.