Terms of business
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printHow we at Intunet like to work.
Working as we do in the fields of creativity, technology and intellectual property, it is important to us and our to clients that we eliminate as far as practicable any 'grey areas' of understanding in our business relationships.
That way, we all know where we stand, and what both sides are committed to doing.
I'm sure you'll agree that it makes good business sense. We have found that it also makes for harmonious and successful relations.
The Process
The separate data sheet entitled "The Intunet Development Process" outlines the various stages of a Project or Contract. This note deals with the all-important subject of budgeting and paying for the work that we have agreed to undertake.
Stage Payments
Our payment terms are basically as follows, unless otherwise agreed in writing.
- On Project Acceptance - the Agreement & Contract Stage: 25% of the agreed contract price is immediately payable.
- During the lifetime of the project, as set by specified and agreed Milestone dates: 50% of the agreed contact price is payable in instalments.
- On Project Acceptance & Sign-off following live testing: 25% of the agreed contract price (or the balance of all monies payable if the agreed contract price has been varied during the lifetime of the project) is immediately payable.
Ownership and Copyright
Ownership and Copyright over all work performed by us vests with Intunet at all times until the Project or Contact Terms have been fulfilled or unless otherwise expressly agreed in writing.
In the event of late payment beyond 5 working days we will charge interest at the Bank of England Minimum Lending Rate from time to time in force on the amount(s) outstanding, in which event we reserve the right to consider any contract between us to have been nullified.
Interpretation
We intend that any Contract between Intunet and its clients be governed by English Law.