[ modified - 2-22-05 ]
AGENCY RATES
Agency Fees: design (includes internet), marketing, research, time, writing, and proofreading, and other invoice entries calculated in time units, other than straight expenses (which are categorized as such), unless otherwise designated: $65.00 per hour, billed in quarter hour increments.
Rates and Fees are subject to change. Clients are notified in writing at least thirty (30) days before changes take effect.
Retainer.
The retainer is due the first of each month, late by the 5th of each month. The retainer is typically the monthly budget for the marketing plan. Adjustments are made with each invoice/statement. The billing cycle ends the 20th of each month. If there is an overage, payment is due by the 10th of the following month; if there is a credit due, it is carried forward to the following month. Any credit balance remaining at the end of any calendar quarter can be reimbursed via Verity Creative check at the Client’s request, or can continue to be carried as a credit balance.
“Invoice Only” Customers: Customers, separate from Clients, can be, if approved by an officer of Verity Creative, an “invoice only” customer, meaning retainer is waived, and Customer is invoiced on a project by project basis.
CLIENT’S OPTION TO AUDIT
Verity Creative gives all clients the right to audit their expenses paid by Verity Creative at any time while the client-agency relationship is in effect. This audit feature also pertains to Customers. Contact us in writing to request an audit of expenses, and we will send you copies of all invoices applicable to your account within seven (7) business days of your request. You will be charged for our time and costs associated with the audit.
Verity Creative conducts a “self audit” of each client every calendar quarter. Any adjustments are reflected in the first client invoice of each new calendar quarter.
COURTESY DISCOUNT
Courtesy discounts are offered solely at the discretion of Verity Creative.
DEFERMENTS
Typically, agency billing is heaviest at the start because of concept, logo design, research, etc. When here is an overwhelming amount of agency work to produce and bill, Verity Creative exercises the option to extend terms on agency fees. These fees are not discounted, but are deferred (with no fees and no interest) to future invoices, assisting the client in staying within budget on a monthly basis.
Deferments are issued unilaterally at Verity Creative’s discretion.. Client requests for deferment can be arranged with no fee or interest, unless collection procedures become necessary, at which time fees and interest would be assessed to Client, compounded, and retroactive from the date of the agreed upon deferment.
Should a client terminate their relationship with Verity Creative, then all deferred monies are due within thirty (30) days of the termination notice, unless other arrangements are made, which must be authorized in writing by an officer of Verity Creative
INTELLECTUAL RIGHTS, COPYRIGHTS, TRADEMARKS
Verity Creative operates on the “work for hire” federal statutes of Copyrights and Trademarks. This means that Verity Creative owns all rights to all work performed until bills are paid in full. At that time, the client legally owns their work.
Stop Payment: If a client stops payment on a check or electronic transfer, a $100.00 fee is assessed to the account. Thereafter, all payments must be made in cash, bank check, or electronic transfer. Check privileges will be reinstated at the sole discretion of an authorized officer of Verity Creative.
Interest: Each thirty (30) day period after the initial fifteen (15) day grace period, an interest assessment of 1% is placed on the client account. The interest is calculated on the entire balance, including costs, fees, interest, and commissions.
Collections: Should it become necessary for Verity Creative to incur costs and expenses to enforce your invoice(s) or statement(s), Client agrees to pay Verity Creative its costs and attorney’s fees so incurred.
COLLECTION PROCEDURES
Collection procedures commence once any client’s account is at least sixty (60) days in arrears with no financial arrangements having been made with, and accepted by an authorized representative of Verity Creative.
CONTRACTS, THE HONOR SYSTEM, TERMINATION
We choose those who become our clients carefully. We work primarily on the honor system, which is why you have no actual advertising contract to sign (most advertising agreements run a minimum of two years). All we ask is 30 days notice, in writing, should you decide to stop working with us, and that you pay your bills in a timely manner. We are now a team, and we do our best to make the relationship work on that basis.
Thirty (30) days notice must be given to the Client for any modifications of the above mentioned to go into effect. Any request for modifications of the above mentioned by Client must be submitted in writing and agreed to in writing by an authorized representative of Verity Creative.
[ modified - 2-22-05 ]
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