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Payment Conditions for Prefab homes and Gazebos

 

Except for the lower amounts we offer a flexible payment system. Payments are always the source of contradictive rules: paying first or supplying first. Apart from expensive L/C's, bonds, or guarantees which only benefit the banks a sound and safe payment system hardly exists. We have set up a system where the client is free to chose which payment system will  suit best.    

 

For orders less than USD. 4,000: 100% payment in advance.

 

For orders over USD. 4,000

We provide three options:

Option A

D/P 10%

1st installment: 15% against a pre-assembly progress of 45% (milestone 1)

2nd installment: 40% against a pre-assembly progress of 70% (milestone 2)

3rd installment: 20% against a pre-assembly progress of 90% (milestone 3)

4th installment: 15% at completion and prior to shipment (milestone 4)

Material price escalations, if any, apply for this option.

 

Option B

D/P 15%

1st installment: 20%, against a pre-assembly progress of 45% (milestone 1)

2nd installment: 40%, against a pre-assembly progress of 70% (milestone 2)

3rd installment: 15% prior to shipment, against a pre-assembly progress of 90% (milestone 3)

4th installment: 10% at completion and prior to shipment (milestone 4)

Material price escalations, if any, apply for this option.



Option C

D/P 70%

1st installment: 5%, against a pre-assembly progress of 45% (milestone 1)

2nd installment: 20%, against a pre-assembly progress of 90% (milestone 2)

3rd installment: 5% at completion and prior to shipment

No material price escalations with this option.

 

NOTES:

Our projects are priced on the basis of the USD. In the event that payments will be made in Euro the payment for the installments will be adjusted against the conversion rate between USD. and Euro (up or down) at the moment that the invoice is issued. Price escalations apply for option A and B in the event that raw materials have increased in price since the start of the project. Adjustments will be made to the invoice accordingly over the costs for the remaining materials needed to complete one or more milestones. 

 

Invoices, terms and conditions

   Pro Forma invoices will be sent by e-mail.

Payments for installments need to be received not later than 7 calendar days after client has received the Pro Forma invoice. P.T. Bali Woodworld reserves the right to halt or suspend the works if payments are delayed, until the funds have been credited to our account.

P.T. Bali Woodworld reserves the right to increase the prices with the costs for unexpected charges and/or fees imposed by the Government of Indonesia related to new or revised export regulations for the goods.  

The goods will be released for shipment as soon as the full payment for the final installment inclusive of any outstanding payment(s) has been received.   

 

Progress payments, how does it work.

Each project with a value less than . 50,000 will be fabricated following a pre-determined time and material schedule. At 2, 3 or 4 pre-determined intervals a cut-off date will be set, followed by a milestone (such milestone normally falls a few days after the cut off date). When a milestone is reached a payment installment needs to be made. Proof and evidence of a milestone will be furnished by pictures.   

Each project with a value of over . 50,000 will be fabricated following a pre-determined time and material schedule, shaped in a graphic called an S-curve. At 3 or 4 pre-determined intervals on this S-curve a cut-off date will be set, followed by a milestone (such milestone normally falls a few days after the cut off date). When a milestone is reached a payment installment needs to be made. Proof and evidence of a milestone will be furnished by pictures.  

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Last modified: November 05, 2013
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