Payment Terms

Welcome to RVM projects

These terms and conditions outline the rules and regulations for the payment services being offered or sub contractor

By accessing this website, we assume you accept these terms and conditions. Do not continue to use our website if you do not agree to take all of the terms and conditions stated on this page.

GST amount is payable along with the advance. Original GST-compliant tax invoice shall be submitted only upon satisfactory completion of services / milestones and written acceptance / completion certificate from you. Advance invoice (if required) shall be raised for the full amount including GST.

• Mode of Payment All payments shall be made only via RTGS / NEFT / IMPS to our designated bank account. Cheques / Demand Drafts are accepted subject to realization. Cash payments are not accepted.

• Non-Refundable All advance payments are non-refundable except as expressly agreed in writing.

2. Delay in Payment & Penalty

• Any delay in payment beyond the due date (or 7 days from invoice date if no due date is specified) shall attract interest at 18% per annum (1.5% per month) on the overdue amount, calculated from the due date until actual date of payment.

• Interest shall be compounded monthly and payable immediately on demand.

• We reserve the right to suspend work, withhold deliverables, stop further supply of materials/manpower, or terminate the contract without any liability if payment is delayed beyond 15 days.

• In case of delay beyond 30 days, we may invoke legal remedies including recovery proceedings under the MSME Act, 2006 (if applicable) or civil suit.

3. Liquidated Damages (LD)

• If we fail to complete the services/milestones within the agreed schedule (except due to force majeure events or delays attributable to you), liquidated damages may be levied at 0.5% of the contract value per week (or part thereof), subject to a maximum cap of 5–10% of the total contract value (as specified in the contract).

• LD shall not apply if the delay is caused by you (e.g., non-availability of site access, approvals, free-issue items, change in scope, or payment delay).

4. Transportation

• All transportation of materials, equipment, tools, and manpower to site is included in the quoted price unless separately mentioned in the contract.

• You shall provide safe site access, unloading facilities, and necessary permissions for entry/transport.

5. Inspection & Acceptance

• All work shall be subject to inspection and approval by you or your authorized representative.

• We shall rectify defects attributable to us at no extra cost during the inspection / defect liability period.

• Final acceptance / completion certificate shall be issued by you within 15 days of completion of work. Delay in issuance shall be deemed acceptance.

6. Warranty / Defect Liability Period

• We provide a defect liability / warranty period of 12 months from the date of completion / handover (or as specified in the contract).

• We undertake to rectify defects arising from poor workmanship or materials supplied by us during this period at no extra cost, subject to normal usage and no misuse or alteration by you.

7. Standard Compliance & Documentation

• All services comply with applicable Indian laws, standards (BIS, CEA, IS codes, OISD, etc.), safety regulations, and project-specific requirements.

• We shall provide test certificates, material certificates, calibration reports, as-built drawings, and other required documents upon completion.

• You shall issue completion / acceptance certificate upon satisfactory completion. Final payment / release of retention (if any) shall be made only after issuance of such certificate.

8. Applicability

These terms apply uniformly to:

• Clients / Project Owners

• Subcontractors / Labour Contractors

• Vendors / Material Suppliers

• Third Parties / Consultants / Agencies

• Any other party engaged in relation to the project

9. Governing Law & Jurisdiction

These terms are governed by the laws of India. Any dispute arising out of or in connection with these terms shall be subject to the exclusive jurisdiction of courts in Hyderabad, Telangana.

10. Amendments

Any modification to these terms must be in writing and mutually agreed upon.

Contact for Queries For clarification on payment terms, invoicing, compliance, or any related matter, please reach out through the “Contact Us” section on this website.

RVM Projects reserves the right to update these Payment Terms & Conditions at any time. Continued engagement after any update constitutes acceptance of the revised terms.

Payment Terms