Fair prices require fair business relationships
At Verifysoft Technology we aim for a prosperous and long-term relationship with our customers, colleagues and suppliers.
We offer excellent tools for software testing and analysis for fair and reasonable prices. In return, we expect our customers to deliver payment to our standard payment condition NET30. In most cases, this does not pose any problem or require additional effort on our side. Here we would like to take the opportunity to thank our customers, who adhere to common business etiquette and keep their obligations.
However, single customers take issue with long-established payment practices.
Therefore, we want to ultimately clarify our invoicing and payment terms.
Invoicing and payment terms
Our standard payment condition is NET30, i.e., please make the payment within 30 days of the date of the invoice.
We have encountered (albeit singular) cases in which companies unilaterally decided to change payment terms and extend the due date of the payment. We do neither support nor condone such practices. Invoicing and payment terms are always in agreement of both
parties to the contract.
Hence, for all companies requesting extended payment periods, we decided to offer extended payment due dates, subject to a late payment interest fee.
a. (Standard) NET30
: Payment within 30 days after invoice date: no additional fees applicable
: Payment within 60 days after invoice date: +
accumulated late interest fee of 2% of the invoiced amount
: Payment within 90 days after invoice date: +
accumulated late interest fee of 4% of the invoiced amount
For software licenses we reserve the right to first deliver a provisional temporary license key, which will be immediately replaced by a permanent key, once payment has been received.
If the customer were unable to meet the initial agreed-upon due date, software support services will only be provided once payment has been received.
Repeated delay of payment
We would like to thank the majority of our customers, who have delivered payment in time for years.
Unfortunately, single customers have repeatedly not kept their timely!
payment obligations und thus require us to take action. We may condition future contract renewals or suspend our services to you until such amount is paid in full. Thus, customers, who repeatedly break the payment agreement, will be facing a downgrading of their credit rating. Subsequent business proposals will be offered at a higher price, reflecting our risk. Additionally, we reserve the right to ask for PIA, i.e. full payment before delivering our products/services.
We are convinced that these terms are fair and reasonable – and especially in the interest of our most loyal customers. We thank you for your consideration and understanding.
Offenburg, 03 June 2020
Verifysoft Technology GmbH