Pricing Policy

This Pricing Policy (“Policy”) sets forth the pricing structure, payment terms, and financial provisions applicable to all services rendered by M/S Lokhandwala Technologies (“Company”, “we”, “us”, or “our”) to its clients (“Client”, “you”, or “your”). By engaging our Services and making any payment, you acknowledge that you have read, understood, and agree to be bound by this Policy in its entirety. This Policy forms an integral part of our Terms & Conditions.

1. Company Information

2. Pricing Structure

All services provided by M/S Lokhandwala Technologies are custom-tailored and priced based on individual project requirements. The following factors influence pricing:

• Scope & Complexity: the breadth and technical complexity of the deliverables, including the number of features, integrations, and platforms involved.
• Timeline & Urgency: accelerated or expedited timelines may attract additional charges.
• Resources Required: dedicated developers, designers, project managers, or domain-specific specialists allocated to the project.
• Technology Stack: licensing costs, third-party APIs, cloud infrastructure, or proprietary tools required.
• Ongoing Maintenance: post-delivery support, monitoring, and maintenance agreements.

Any pricing displayed on our website, marketing materials, or verbal communications is indicative only. Final pricing shall be confirmed exclusively through a written quotation, proposal, or Statement of Work (SOW) duly executed by both parties.

3. Quotations & Validity

• All quotations and proposals are valid for the period expressly stated therein. In the absence of a stated validity period, quotations shall be valid for fifteen (15) calendar days from the date of issue.
• Quotations are based on the requirements, specifications, and information provided by the Client at the time of estimation. Material changes to scope, requirements, or specifications may necessitate a revised quotation.
• A quotation does not constitute a binding contract. A binding agreement is formed only upon execution of a Statement of Work (SOW) or written agreement by both parties.
• The Company reserves the right to revise or withdraw any quotation prior to acceptance.

4. Payment Terms

Payment terms are defined in the applicable SOW or Agreement. The following general provisions apply:

• Advance Payment: a non-refundable advance payment (the percentage of which shall be determined on a per-client basis and specified in the SOW) is required before commencement of any work. The exact advance percentage may vary depending on the nature, size, and scope of the engagement.
• Milestone Payments: for projects with defined milestones, payments corresponding to each milestone are due upon completion and delivery of that milestone. Work on subsequent milestones may be withheld until payment for the preceding milestone is received.
• Final Payment: full and complete payment of all outstanding fees must be received before the final deliverables are handed over to the Client. No final source code, deployment, or asset transfer shall occur until the total project cost has been settled in full.
• Payment Due Date: invoices are due within seven (7) business days of issuance unless an alternative schedule is agreed.
• Accepted Methods: payments may be made via bank transfer (NEFT/RTGS/IMPS), UPI, credit/debit card, or any other method facilitated through our payment gateway.
• Currency: all invoices shall be denominated in Indian Rupees (INR) unless otherwise specified for international clients.

5. Late Payments & Consequences

Timely payment is essential to maintaining uninterrupted service delivery. In the event of late payment:

• A late-payment interest of 1.5% per month (18% per annum) may be charged on overdue amounts from the due date until the date of actual receipt.
• The Company reserves the right to suspend or halt all work on the project until outstanding payments are settled in full.
• Access to delivered code, deployed applications, staging environments, or any other deliverables may be restricted until payments are current.
• Persistent non-payment may result in termination of the engagement. In such cases, the Company shall retain all payments received and shall have no obligation to deliver pending work.

6. No Refunds

7. Scope Changes & Additional Charges

• Changes to the agreed scope, whether additions, modifications, or removals of features, shall be documented through a formal Change Request (CR).
• Each Change Request will be assessed by the Company, and a revised estimate covering additional time, resources, and costs will be provided to the Client.
• Work on Change Requests shall commence only upon written approval of the revised estimate and, where applicable, receipt of additional payment.
• Repeated or substantial scope changes may also impact delivery timelines.

8. Taxes & Statutory Charges

• All prices quoted are exclusive of applicable taxes unless explicitly stated otherwise.
• Goods and Services Tax (GST) and any other applicable government-mandated taxes or duties shall be charged in addition to the quoted price, as per prevailing Indian tax regulations.
• The Company's GST Identification Number (GSTIN) shall be provided on all invoices.
• For international clients, withholding tax obligations, if any, shall be borne by the Client unless agreed otherwise.

9. Payment Gateway & Security

Online payments are processed through our official payment partner, CashFree (Terms & Conditions · Privacy Policy).

• The Company does not store, process, or have access to your credit/debit card numbers or sensitive payment authentication data. All such data is handled exclusively by CashFree in compliance with PCI-DSS standards.
• By making a payment through our platform, you agree to CashFree's terms of service and privacy policy.
• The Company shall not be liable for any payment processing failures, delays, or errors attributable to the payment gateway service provider.

10. Legality of Payments

All transactions must be conducted using legally obtained funds and authorised payment methods. The following activities are strictly prohibited:

• Payments made using stolen, compromised, or unauthorised credit/debit cards or bank accounts.
• Use of fraudulent, counterfeit, or illegally obtained payment instruments.
• Money laundering or any attempt to use our services for the purpose of disguising the origin of illegally obtained funds.

Any suspected fraudulent activity shall be reported to law enforcement agencies and relevant financial institutions. The Company reserves the right to immediately terminate any engagement and withhold all deliverables in the event of suspected payment fraud.

11. Intellectual Property Retention

All software, source code, designs, documentation, and other deliverables created during an engagement shall remain the exclusive intellectual property of M/S Lokhandwala Technologies until all payments due under the applicable SOW or Agreement are received in full. Upon receipt of complete payment, intellectual property rights shall transfer to the Client as specified in the SOW.

Unauthorised use, reproduction, distribution, or resale of any deliverable for which full payment has not been received constitutes a material breach and may result in legal action.

12. Confidentiality

Both parties agree to maintain the confidentiality of pricing terms, project details, and all other commercially sensitive information exchanged during the engagement. Confidential information shall not be disclosed to third parties without the prior written consent of the disclosing party, except as required by law or regulation.

13. Right to Refuse Service

The Company reserves the right to decline or terminate any engagement at its sole discretion, particularly in cases involving:

• Suspected fraudulent or illegal activities.
• Projects that conflict with our values, ethics, or legal obligations.
• Persistent non-payment or breach of agreed terms.
• Abusive, threatening, or harassing behaviour toward our team members.

14. Limitation of Liability

To the maximum extent permitted by applicable law, the Company's total aggregate liability under any engagement shall not exceed the total fees actually paid by the Client for the specific service giving rise to the claim. The Company shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to loss of profits, revenue, data, or business opportunities, regardless of the theory of liability.

15. Regulatory Compliance

M/S Lokhandwala Technologies operates in full compliance with the laws of India, including but not limited to the Information Technology Act, 2000, the Indian Contract Act, 1872, the Consumer Protection Act, 2019, and the regulatory framework established by the Reserve Bank of India (RBI) for digital payments.

16. Dispute Resolution

In the event of any dispute arising out of or in connection with this Policy or any payment:

• The parties shall first attempt to resolve the matter amicably through good-faith negotiations within thirty (30) days of written notice.
• If the dispute remains unresolved, it shall be referred to binding arbitration under the Arbitration and Conciliation Act, 1996, with the seat of arbitration at Lucknow, Uttar Pradesh, India.
• The arbitration shall be conducted in English before a sole arbitrator mutually agreed upon by both parties.
• This Policy shall be governed by and construed in accordance with the laws of India. Subject to the arbitration clause, the courts of Lucknow, Uttar Pradesh shall have exclusive jurisdiction.

17. Amendments

The Company reserves the right to modify, update, or revise this Policy at any time without prior notice. Any changes will be effective immediately upon publication on this page. The “Last Revised” date at the top of the page indicates the most recent update. Continued engagement with our Services after changes are posted constitutes your acceptance of the revised Policy. We encourage Clients to review this page periodically for the latest information on our pricing terms.

18. Contact Information

For inquiries related to pricing, invoices, or payments, please contact us: