Corporate

Payments Policy (Version 1.0 16/06/07)

Introduction

This policy details the payments procedure adopted by Student Design on each design project worked on for a client. It is important to note that this procedure is adopted on most projects, but Student Design reserves the right to vary permanently or for each individual project any part of this policy for whatever reason. Where this is the case notice of the revised policy will be made available to the client before the service contract has been signed.

Payment Split

Projects on or under £200

• 50% down payment at start of project to be received and cleared before first drafts are delivered.
  
• 50% final payment on completion and approval of final draft before final delivery of work.

Projects above £200

• 30% down payment at start of project to be received and cleared before first drafts are delivered.
  
• 70% final payment on completion and approval of final draft before final delivery of work.

For projects of high value, phased delivery or at the request of the client, an alternative payment structure can be arranged and agreed on. For rush jobs Student Design reserves the right to ask for 100% down payment to reflect the nature of the work.

Notes

In all cases unless explicitly agreed otherwise by Student Design, the down payment must be received and have cleared before Student Design will release the first set of drafts to the client. From the point of signing the client is contracted to pay at least the value of the down payment to Student Design immediately or as soon as physically possible after the signing of the contract. Should 7 business days pass without payment or suitable explanation Student Design reserves the right to cancel the project, increase the value of the down payment required, increase the overall cost of the project or impose other such restrictions or sanctions as Student Design deems necessary. In cases where the project is cancelled without pay Student Design will consider legal action with its Insurance Company to recover monies owed.

In all cases unless explicitly agreed otherwise by Student Design, the final payment must be received and have cleared before Student Design will release the final deliverables to the client. From the point of approval of the final draft design the client is contracted to pay the remaining cost of the project to Student Design immediately or as soon as physically possible after the draft has been approved. Should 7 business days pass without payment or suitable explanation Student Design reserves the right to cancel the project, increase the overall cost of the project or impose other such restrictions or sanctions as Student Design deems necessary. In cases where the project is cancelled without pay Student Design will consider legal action with its Insurance Company to recover monies owed.

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