Payment Policy

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Introduction:
At Inspiritech, we aim to make the payment process as smooth and secure as possible for our customers. This Payment Policy outlines the terms and conditions related to the payment for products and services purchased from our company.
Accepted Payment Methods:
•  Bank Transfers: We accept payments via bank transfers (wire transfers). Bank details will be provided upon confirmation of your order.
•  Letters of Credit (L/C): For large orders, we may accept payment through letters of credit. Specific terms and conditions will be discussed and agreed upon with the customer.
•  Credit Terms: Established customers may be eligible for credit terms. Terms and conditions will be based on credit history and volume of business.
•  Other Methods: We may accept other payment methods such as PayPal, credit cards, or escrow services on a case-by-case basis, particularly for smaller orders or sample requests.
Payment Terms:
•  Advance Payment: A deposit is required to confirm the order. The remaining balance is due before shipment. Full payment must be received and cleared before the goods leave our factory.
•  Net 30/60/90: These terms indicate that payment is due within 30, 60, or 90 days from the invoice date. However, the full payment must still be received and cleared before the goods leave our factory. These terms apply to the timeline for invoice issuance and internal record-keeping.
•  Installment Payments: For large orders, installment payments may be arranged. The payment schedule will be detailed in the sales contract, but the final installment must be paid and cleared before the goods leave our factory.
Invoicing:
•  Invoice Issuance: Invoices will be issued upon confirmation of the order or completion of specific milestones in the production process.
•  Invoice Details: Each invoice will include details such as the order number, description of goods, quantities, unit prices, total amount due, and payment instructions.
•  Digital Invoices: Invoices will be sent electronically via email. Printed copies can be provided upon request.
Late Payments:
•  Interest Charges: Late payments may be subject to interest charges. The interest rate and terms will be specified in the sales contract.
•  Suspension of Services: Failure to make payments on time may result in the suspension of services, delay in future orders, or cancellation of existing orders.
•  Collections: Persistent non-payment may result in the account being turned over to a collections agency. The customer will be responsible for any additional costs incurred in the collections process.
Currency:
•  Payment Currency: All payments must be made in the currency specified in the invoice. If a different currency is to be used, the exchange rate and any associated costs will be agreed upon in advance.
•  Exchange Rate: If payments are made in a different currency, the exchange rate will be based on the rate provided by our bank on the day of the transaction.
Refunds:
•  Eligibility: Refunds are generally not offered due to the nature of B2B transactions. However, in cases of overpayment, duplicate payment, or order cancellation before production, refunds may be issued.
•  Process: To request a refund, contact our customer service team with the details of the payment and reason for the refund. Approved refunds will be processed within 30 days.
•  Method: Refunds will be issued using the original payment method or an alternative method agreed upon by both parties.
Dispute Resolution:
•  Resolution Process: Any disputes related to payments should be addressed promptly. Contact our customer service team to discuss and resolve any issues.
•  Arbitration: If a resolution cannot be reached, the dispute may be escalated to arbitration or legal action in accordance with the governing laws specified in our Terms and Conditions.
Security:
•  Payment Security: We take payment security seriously and implement various measures to protect your financial information. All transactions are processed through secure and encrypted channels.
•  Fraud Prevention: We monitor transactions for suspicious activity and may contact you to verify the details of your payment.
Changes to Payment Policy:
Inspiritech reserves the right to update or modify this Payment Policy at any time. Any changes will be posted on this page, and we encourage you to review our Payment Policy periodically to stay informed.
Contact Information:
If you have any questions regarding this Privacy Policy, please click the button below to contact us:
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