Invoice Policy

Effective Date: 7 November, 2024

1. Introduction

This Invoice Policy outlines the procedures and terms related to invoicing for our customers in Africa and the European Union (EU). It is designed to ensure clarity, transparency, and efficiency in our billing processes, utilizing the BMS platform for both issuance and payment.

2. Platform Use

2.1. All invoices issued by Baggins Technology Enterprises will be available through the BMS platform. Customers must have an active account on this platform to access their invoices.

2.2. Customers are required to set up and verify their account details on the BMS platform upon establishing a relationship with us. Any changes to account details must be promptly updated to avoid disruptions in service or billing.

3. Invoice Issuance

3.1. Invoices will be generated automatically upon completion of a purchase or service delivery. Customers can view and download their invoices from the ‘Invoices’ section of their BMS account.

3.2. Each invoice will include the following details:

– Invoice Number

– Date of Issue

– Due Date

– Customer Information

– Description of Products/Services

– Breakdown of Costs

– Applicable Taxes (in compliance with local regulations)

– Total Amount Payable

– Payment Instructions

4. Payment Terms

4.1. Payment Due Date

– Invoices are due for payment within 2 days from the date of issuance unless otherwise specified in a separate agreement or the invoice itself.

4.2. Payment Method

– All payments must be completed via the BMS platform, utilizing the integrated secure payment gateway.

4.3. Currency

– Invoices for customers in Africa will primarily be issued in KES currency, depending on local regulations. Invoices for EU customers will be issued in EUR.

5. Late Payments

5.1. Penalties

– A late payment fee of 2% of the invoice amount will be applied monthly, starting from the day after the due date, until the invoice is settled in full.

5.2. Service Disruption

– Continued non-payment may result in a suspension of services until the outstanding invoice is paid in full. Notifications will be sent prior to any suspension.

6. Dispute Resolution

6.1. Any disputes regarding invoices must be submitted within 14 days of the invoice date. Disputes should be communicated in writing via the BMS platform’s customer service portal.

6.2. The company will acknowledge receipt of the dispute within 3 business days and will aim to resolve it within 10 business days thereafter.

7. Taxation

7.1. Baggins Technology Enterprises will charge VAT or GST where applicable, complying with regional tax laws in both Africa and the EU. Customers are responsible for any additional taxes or duties imposed by their local jurisdiction.

8. Confidentiality

8.1. All invoice details are confidential and accessible only to authorized personnel within Baggins Technology Enterprises and the customer account holder.

This policy is subject to periodic review and may be updated to reflect changes in business operations or regulatory requirements. For any questions or further assistance, please contact Baggins Technology Enterprises customer support through the BMS platform.