Late Payment Policy

Effective Date: 15/01/2024

Following the Board Meeting on 01/01/2024 and subsequent notification dated 03/01/2024, Kikstaart Digital Marketing Pvt. Ltd. hereby announces the implementation of a Late Payment Policy. This policy applies to all transactions and client engagements from 15/01/2024 onwards and is aimed at streamlining our financial operations and maintaining the high quality of our services.

1. Automated Billing System: Our billing software will now automatically generate invoices, apply late fees, and record payments based on the amounts credited to the bank.
2. Late Payment Fine Implementation:
   • Initial Fine: If payment is not received within 7 days after the due date, a fine of 5% of the invoice amount (excluding GST) will be automatically imposed.
   • Incremental Fine: An additional 3% of the invoice amount (excluding GST) will be added every subsequent 7 days until full payment is made.
   • Automated Fine Calculation: The imposition of these fines will be automatically calculated and added by our billing software.
3. Service Suspension: Services will be automatically suspended within 5 days from the due date if payment is not made.
4. Legal Action for Non-Payment: If payment is not made within 4 weeks from the due date, the issue will be addressed as per Indian law.
5. Exceptions: This policy does not apply to individuals or companies that have cancelled their subscription as per the notice period mentioned in their agreement. Charges will only be imposed for any additional expenses or services availed and not paid for.
6. Policy Access: The full details of this policy is available on https://kikstaart.com/late-payment-policy for review.
7. Dispute Resolution: For disputes or clarifications, please mail to [email protected] within 7 days of receiving any automated notifications.
8. Amendments: Kikstaart Digital Marketing Pvt. Ltd. reserves the right to amend this policy. Any changes will be communicated to all clients in a timely manner.

This comprehensive policy is designed to ensure efficient financial management and uphold the quality of our services. The automation of these processes by our billing software is key to achieving consistency and fairness in our dealings with clients. We appreciate your understanding and cooperation in adhering to these new guidelines.