Knowledgebase: Accounts & Billing
PsyAsia's Terms and Conditions regarding payments for our products and services
Posted by Cynthia W on 15 September 2006 10:30 PM

The following applies to
PSYASIA INTERNATIONAL &
PSYASIA INTERNATIONAL PTE. LTD.
WWW.PSYASIA.COM
WWW.PSYCHOMETRICASSESSMENT.COM
and all PsyAsia International and Psychology1 Group Sites.

TERMS AND CONDITIONS OF BUSINESS

Billing & Due Dates

PsyAsia International bills on the 1st day of every month for all services and purchases used/made and entered into our system up until that date for regular clients (i.e., clients who use our services on a monthly or bi-monthly basis).

For single project clients, we bill the full amount in advance for work that will take less than one month. For work that will take more than one month, we bill the first months' fee up-front and then bill at appropriate intervals during the project (usually monthly on the 1st of the month). Where particular dates are booked in a consultant's diary, the fees for withdrawal, date changes and cancellation are the same as noted in the in-house training courses section below.

For in-house training courses, we bill within 48 hours of receiving your signed training agreement. Payment is due within 14 days of this invoice, but may be extended to 30 days for repeat clients provided there are at least 3 months before the training course goes ahead. Dates are not confirmed until 100% payment has been received. An administration fee equivalent to 15% of the fee quoted in the agreement will apply for a client who after signing the agreement withdraws from it prior to sending us payment. If payment is not received by the due date, we reserve the right to offer the tentatively reserved dates to other clients who may have requested them. As per our training agreements, we charge a 30% date change fee for clients who need to change their dates after confirming with us. This is to reflect the fact that we are likely to have turned down work of other clients whilst holding the original client's date as confirmed. In this case, and upon payment of the fee noted above, the date may be changed to any available date within the current financial year (a financial year ends on 31 March). A 30% fee also applies to outright cancellations of confirmed in-house training. Where an outright cancellation is made, we shall refund 70% of the amount paid to us (client pays bank transfer / TT fee if applicable) within 1 month. In a case where a client was given a discount (noted in the discount line on the invoice) for an in-house training course which they subsequently cancel outright, the discount will be cancelled and PsyAsia International will retain 30% of the non-discounted amount.

Discrepancies

Please note that we will apply late fees for non-payment of invoices by the due date. It therefore remains the client's responsibility to advise us of discrepancies and ensure that we receive such advice in good time to enable us to issue the replacement invoice with an amended due date. The replacement invoice must then be paid by the amended due date.

Hard Copy Invoices and Receipts

Out of respect for the environment and to keep our fees as low as possible, PsyAsia International issues electronic invoices (pdf file sent by email). We issue paper invoices & paper receipts where required at a charge of HK$120/SG$20 each. As these are computer-generated documents, we do not apply signatures and chops to them and so hard copy documents are in fact exactly the same as those you may print yourself. In Singapore and Hong Kong, our Governments have encouraged us to go paperless as much as possible and so we hope clients will support this effort. For clients requiring hard copy documents, upon payment of the above fee, hard copy receipts will be dispatched within our next accounting cycle (i.e., within 1 month). Note that should you require a receipt that is different to the format of our standard receipt/statement, a fee of HK$400/SG$70 will apply. Furthermore, where PsyAsia International is required to complete forms and provide documents in order to register on a client's payment system, an administrative fee of HK$500/SG$90 will be applied.

Payment of Bank Fees

As is usual business practice, all bank fees must be paid by the client so that we receive the total amount owing on the invoice. If as a result of any fees imposed by your bank or our bank, we receive less than the amount stipulated on the invoice, your account will remain outstanding. If the amount is small, we will add it to your next invoice or ask you to pay in cash if you are to meet us face-to-face.

Late Fees

Where payment is not received by the due date, PsyAsia International adds a fee of 5% of the outstanding invoice amount (minimum SG$50/HK$300) at some point between the 1st and 7th day after becoming overdue. Additionally, any discounts in the invoice are automatically invalidated and thus removed.

PsyAsia International will also revert overdue accounts to pay-before-delivery accounts, thus removing any credit facility. Further late fees as per above are added on each monthly anniversary of the payment due date. On the third anniversary of the payment due date, we will pass overdue invoices to local collection agencies for collection of all fees, including agency fees.

This billing policy enables us to keep our fees low and ensures that only clients who do not pay on time are penalized for late payments.

Longer Payment Terms

Special arrangements do exist and can be made for larger and established organizations whose internal systems make it impossible to pay within 14 days. In this case, PsyAsia International will, after discussion and at our own discretion extend the payment period to 30 days. For organizations requiring more than 30 days to process payment, we only offer pay-before-service terms.

Public Training Courses

For public training courses, the invoice will be issued either immediately after registration or nearer to the course date depending on the course and numbers registered.

In either case, the invoice will become due for payment within the same 14 day period noted above and the same arrangements and penalties apply for late payments. However, all quoted public course fees at this site have been pre-discounted to apply to payments made within 14 days of invoice. Please note that the rack rate, non-discounted course fee will apply should you require longer to pay. In such cases you should select the 30 day payment terms during course registration. If you select the 14 day terms and do not pay within 14 days, the 30 days terms will become payable plus an administration fee of 5% of the regular non-discounted fee. For clients who make a confirmed booking on this site but decide before payment to withdraw their place, a withdrawal fee of 15% of the invoiced amount will apply. For clients who cancel their course place after payment, the following terms will apply:

► Cancellations made more than 45 days before the course goes ahead: 60% refund

► Cancellations made 30-45 days before the course goes ahead: 30% refund

► Cancellations made 29 days or less before the course goes ahead: no refund

Please note that we are always happy to accept substitute course participants without additional fee. In exceptional circumstances (e.g., illness supported by medical certificate) we will transfer delegates to the next available course upon payment of a transfer fee equivalent to 35% of the originally paid fee. This fee helps to cover venue fees payable to the hotel or training room provider as well as fees for the course materials produced for the said delegate.

If PsyAsia International cancels a public training course due to low numbers of registrants, we shall refund paid-up registrants in full. We will send a cheque or bank transfer for the full amount paid within 1 month of cancelling if delegates do not wish to be transferred to the next available course. We will not however compensate for cancelled flights or hotel accommodation. In a case where we need to cancel a course, we undertake to do so no less than one month before the scheduled course start date.

Currency

As an international organisation, PsyAsia International bills in various currencies for those based outside of Singapore and Hong Kong. Please note that our Singapore company/bank account can only accept payment in Singapore Dollars. Our Hong Kong account will accept payment in HK$, SG$, AU$, or GBP. Clients may also pay into our UK bank account in GBP or our Australian bank account in AUD, or via Credit Card using Paypal. Kindly note that in order to comply with tax and other local regulations, clients in Singapore will always be billed in SGD and pay into our Singapore account and clients in Hong Kong will always be billed in HKD and pay into our Hong Kong account.