WikiWe

Krono.Works Invoicing Policy

4 min read

Purpose

The purpose of this policy is to establish standardized procedures for invoicing, payment, and collections to/from clients or vendors between members of license pools administered by Ricardiam, including but not limited to WikiWe, Krono.Works, and Eggseed Press. This policy ensures that all financial notices, including invoices and payment reminders, are communicated effectively and securely through designated channels. Additionally, this policy outlines the fees associated with late payments to encourage timely compliance with net payment terms.

Scope

This policy applies to all clients, partners, and vendors of the organization who engage in billing and payment activities. It covers the issuance of invoices, payment terms, and the process for handling overdue payments.

Policy Details

  1. Invoicing and Email Subaddressing
    • All invoices and financial notices must be sent to the +invoices{rtag} or +notice{rtag} subaddressing of the designated email provided by the client, partner, or vendor. This ensures that financial communications are directed to the appropriate department and handled efficiently.
    • Invoices will clearly outline the services or products provided, the total amount due, the invoice date, and the payment due date.
  2. Payment Terms
    • Our standard payment term is Net 15, meaning payment is due 15 days from the invoice date.
    • Payment instructions, including acceptable forms of payment, will be detailed on each invoice to facilitate a smooth transaction process.
    • All payments are final and non-refundable unless agreed otherwise by the vendor and a 10% reprocessing fee on the refund or rebated amount may be invoiced for administrative services.
  3. Late Payment and Collection Fees
    • In the event that payment is not received by the due date, a reminder notice will be sent to the client, partner, or vendor. A grace period of 5 days post the due date will be provided for any potential processing delays.
    • If payment is still outstanding beyond the grace period, a 10% collection fee of the total invoice amount will be applied to the account. This fee compensates for the administrative efforts and costs associated with collecting overdue payments.
    • Continuous failure to comply with payment terms may result in further collection efforts, including but not limited to third-party collection agencies or legal action.
  4. Pre-Paid Sponsorships, Donations, or Payments
    • All pre-paid sponsorships, donations, or payments are final and non-refundable. This provision is put in place to ensure the stability and planning integrity of our operations and projects that benefit from such funds.
  5. Dispute Resolution
    • Should there be any dispute regarding the invoice, clients, partners, or vendors are encouraged to adhere to the Principles of Peacemaking. We are committed to resolving disputes promptly and amicably.
  6. Confidentiality
    • All financial communications and transactions will be treated with the utmost confidentiality and security under the WikiWe Confidants’ MNDA.
  7. Policy Compliance
    • Adherence to this policy is mandatory for all clients, partners, and vendors. Failure to comply with these guidelines may affect future transactions and the continuation of our business relationship.

Implementation

This policy is effective immediately. All current and future clients, partners, and vendors are expected to comply with the provisions outlined herein. Our organization reserves the right to modify this policy at any time, with any changes communicated appropriately.

By establishing clear guidelines for invoicing, payment, and collections, we aim to foster a transparent and efficient financial process, ensuring the financial health and stability of our organization and its valued relationships.

See also see also: https://www.notion.so/wikido/Ricardiam-Financial-Controls-Policy-2024-440a550b79864ba195bddbe19c589ace

Notice is effective when made via  =this.owner-group, or later specified in effective written notice provided, or by other notice with acknowledgement of receipt.

Changes

This document was last modified =dateformat(this.file.mtime, "yyyy-MM-dd"). All changes must be versioned with earlier versions accessible via 🅦 WikiWe.org.

Confidentiality

Any portion of this content that is shared by either of the Parties with the other Party and marked as confidential shall be treated as confidential under the WY IDR 24-03.

Payment Links

General

Donate, Pay, or Sponsor *See *Krono.Works Invoicing Policy for invoicing and payment terms via Ricardiam

Pay Account Retainer

Pay Account Retainer *See Krono.Works Invoicing Policy and Krono.Works Retainer Policy for invoicing and payment terms via Ricardiam

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