Advance Payment Terms and Conditions!

Advance payments may be requested by the service provider at the time of project initiation. The advance payment request must be submitted in writing to payments@akontec.com for approval.

Advance payment requests will be subject to approval based on project type, size, and other relevant factors. Clients reserves the right to approve or deny any advance payment request at its discretion. The advance payment amount will be determined case-by-case and specified in the project contract. The advance payment will typically not exceed 20% of the total project value.

To request an advance payment, the service provider must follow these steps:

Complete the Advance Payment Request Form (available upon project initiation). Submit the request form and the required documents to payments@akontec.com. Clients will review the request and respond within 3 days with an approval or denial.

As a condition for receiving advance payments, the service provider must provide a Performance Bank Guarantee from a reputable financial institution. The guarantee should cover the advance payment amount and comply with Client's standards.

The advance payment will be repaid to Client according to the terms outlined in the project contract. Client reserves the right to deduct any outstanding fees, penalties, or project-related expenses from the advance payment before repayment.

In the event of project termination, Client will determine any remaining advance payment balances and initiate repayment or deduction procedures accordingly. Any disputes regarding advance payments or their repayment will be resolved through arbitration.

Client reserves the right to amend these terms and conditions at its discretion. Any amendments will be communicated to the service provider in writing. By requesting and accepting an advance payment, the service provider agrees to abide by these terms and conditions.