Executive Summary
This Payment & Project Policy details billing cycles, advance deposits, invoicing terms, GST compliance, and project execution protocols at Cognify Solution.
Financial Framework & Payment Terms
All software engineering, mobile development, web development, and digital marketing engagements with Cognify Solution (Hanjer Nagar, Andheri East, Mumbai, Maharashtra 400093) are governed by this Payment & Project Policy.
Accepted Payment Methods
We accept payments via trusted national and international channels:
- Bank Wire Transfer: NEFT / RTGS / IMPS directly to Cognify Solution bank account.
- UPI & QR Transfer: Instant UPI payment across major Indian banking apps.
- Credit & Debit Cards: Visa, MasterCard, RuPay, American Express.
- Online Payment Gateways: Razorpay, Stripe, PayPal (International clients).
Milestone Billing Breakdown
Fixed-scope projects adhere to the following milestone structure unless otherwise specified in the SOW:
| Milestone Stage | Payment Percentage | Deliverable Trigger |
|---|---|---|
| Initial Deposit | 30% - 50% Upfront | Contract signing, discovery & project commencement |
| Beta Milestone | 30% - 40% Interim | Completion of core UI design & staging functionality |
| Final Settlement | 10% - 20% Final | Final UAT sign-off prior to live server handover |
Invoicing, Due Dates & Overdue Interest
Invoices are issued electronically and are payable within 7 calendar days of issuance. Invoices overdue beyond 14 days will incur a statutory late payment interest fee of 1.5% per month until fully cleared.
Taxation & Statutory GST Compliance
Cognify Solution is a fully compliant Indian corporate entity. All quotes are exclusive of taxes unless stated. For Indian clients, 18% Goods & Services Tax (GST) is added to invoices in accordance with Government of India regulations. International clients are invoiced under zero-rated service export rules.
Project Pause & Dormancy Rules
If an invoice remains unpaid for more than 15 calendar days, project development will be automatically paused. If a project is delayed by client unresponsiveness exceeding 45 days, a re-boarding fee of 10% may be charged to reactivate engineering sprints.
Final Handover & IP Release
Production server credentials, root domain DNS access, and final source code repositories will be released to the client strictly after 100% full and final payment settlement of all outstanding invoices.
Policy Frequently Asked Questions
Yes. All fixed-price projects are broken down into transparent milestone payments linked to tangible deliverables.
Need Further Assistance or Clarification?
Our corporate legal and client advisory team at Cognify Solution is here to assist you with any inquiries regarding our operational agreements.