Payment Options
TNC provide three basic payment options which are outlined below.
Payment on Completion
For smaller projects a deposit is taken which represents 50% of the development costs.
Upon completion of the project and final sign off the balance payment is taken before the project
goes live. The balance payment will include the outstanding balance for development, the first years
management fee and any administration charges required such as Domain Name transfers.
Staged Payments
For larger projects TNC will agree staged payments with the client before commencement of the project.
A deposit of 20% is taken prior to any development starting and then further payments are taken
when agreed targets are achieved. The balance is paid on project completion and sign off.
For example staged payments might be:
- Deposit - 20%
- Completion and sign off of technical specification - 20%
- Completion and sign off of visual designs - 20%
- Completion of a feature complete test version on a test server - 20%
- Final release of project to live server - 20%
3 Year Payment Plan
TNC can offer a 3 year payment plan. This is available when the client contracts
TNC to manage the project over a three year period. At the end of this period the project is reassesed
for redevelopment and a new 3 year plan agreed.
The 3 year payment plan works by calculating the total cost of the project ie adding the development costs and
the agreed total management costs over a three year period. Before the onset of the prject a deposit is
taken which will represent approximately 10% of the total cost. The balance is then divided into 36 equal
payments which are paid monthly by direct debit. Payments commence as soon as the project goes live on the
internet.
For example, if the development costs are £1500 plus VAT and the management costs are £380 plus VAT per year,
the total cost of the project over 3 years would be £2640 plus VAT. We would take a deposit of £228 plus VAT
and then 36 monthly payments of £67 plus VAT.