Payment Policy

Company: Matracode Nexus (Proprietor: Ansuman Mishra)
Effective Date: December 22, 2025
Jurisdiction: Bhubaneswar, Odisha, India

At Matracode Nexus, we believe that clear financial agreements are the foundation of a successful partnership. This policy outlines how quotes, billing, taxes, and payments are handled for all software development, design, and consulting services.

1. Pricing Models & Billing Cycles

We generally operate on two pricing models, as defined in your specific Statement of Work (SOW):

A. Fixed-Price Projects

• Deposit (Mobilization Fee): 30% - 50% upfront required to schedule resources and commence work. This deposit is non-refundable.
• Interim Milestone: Percentage agreed upon in the SOW (e.g., Alpha Release), due upon review.
• Final Delivery: Remaining balance due prior to the handover of source code and final deployment.

B. Time & Materials (Hourly/Retainer)

• Invoicing: Services are invoiced Monthly or Bi-Weekly.
• Timesheets: Detailed logs of hours spent will be provided with the invoice upon request.

2. Accepted Payment Methods

Note: We do not accept physical cash or personal cheques for professional services.

3. Taxation (GST & Export)

As an agency based in India, we strictly adhere to the Goods and Services Tax (GST) laws.

• Clients in India: A GST of 18% will be applied to all invoices unless a valid tax exemption certificate is provided.
• International Clients: Services generally qualify as "Zero-Rated Supply" (Export of Services). No GST is charged provided payment is received in convertible foreign currency.

4. Payment Terms & Late Fees

• Due Date: Invoices are due within 7 to 14 days of receipt, as specified on the invoice.
• Late Fee: We reserve the right to charge a late fee of 1.5% per month on invoices unpaid 7 days past the due date.
• Suspension of Services: We reserve the right to pause work or restrict access if an invoice remains unpaid for more than 30 days.

5. Cancellations & Refunds

• Deposits: The initial deposit is strictly non-refundable once work has commenced or resources have been allocated.
• Mid-Project Cancellation: The Client is liable to pay for all work completed up to the date of cancellation notice.
• Completed Work: Refunds are generally not issued for completed and approved milestones.

6. Intellectual Property (IP) Release

In accordance with our Terms of Service, legal ownership and copyright of the final custom code and design assets remain with Matracode Nexus until the final invoice is paid in full.

Upon full payment, all rights are automatically assigned to the Client.

Billing Contact

For any queries regarding invoices, bank details, or tax forms, please contact: