GLOBAL COMMERCIAL & REFUND POLICY

1. Global Commercial Framework & Milestone Governance

Magnence LLC and its Indian subsidiary, Magnence Engineering Private Limited, operate under transparent, milestone-driven financial terms for clients globally across North America, Europe, UK, APAC, Middle East, India, and Latin America. Every software engineering project, AI agent deployment, or cloud infrastructure build is strictly governed by predefined Statement of Work (SOW) milestones, clear technical deliverables, and precise acceptance criteria. This ensures zero ambiguity in financial obligations and project delivery standards.

2. Multi-Currency Transactions, Deposits & Tax Compliance

Invoices are issued in US Dollars (USD), Euros (EUR), British Pounds (GBP), or Indian Rupees (INR) as agreed in the governing SOW. For Indian domestic clients, all invoices are subject to applicable Goods and Services Tax (GST) as per the CGST/SGST/IGST Acts. For international clients remitting to India, payments are processed under the Foreign Exchange Management Act (FEMA) guidelines. Initial project deposits reserve dedicated senior engineering bandwidth, cloud sandbox provisioning, and architecture synthesis. Once a milestone is delivered, inspected, and approved by the Client, associated payments are deemed final and strictly non-refundable.

3. Milestone Acceptance & Approval Process

Each milestone follows a structured acceptance workflow:

• Delivery Notification: Magnence delivers the milestone and notifies the Client in writing with a summary of deliverables.
• Review Period: The Client has seven (7) business days to review, test, and either accept or provide written rejection with specific technical reasons.
• Deemed Acceptance: If no written rejection is received within the review period, the milestone is deemed accepted and payment becomes due immediately.
• Rejection & Remediation: Valid rejections (scope items not meeting SOW specifications) will be remediated by Magnence within a reasonable timeframe at no additional cost. Feature requests or scope changes are handled through change orders.

4. Cancellation & Pro-Rata Refunds

If a project is terminated by the Client for convenience prior to the completion of an active milestone, any unearned, prepaid advance funds allocated exclusively to un-initiated future development sprints will be refunded on a pro-rata basis within fourteen (14) business days of formal written cancellation notice. No refunds are issued for work already completed, engineering hours already expended, or third-party infrastructure costs already incurred (cloud provisioning, domain registration, SSL certificates, API licenses).

5. Dedicated Engineering Teams (T&M Retainers)

For Dedicated Engineering Team retainers (Time & Materials model), billing is calculated on bi-weekly or monthly cycles based on agreed engineer daily/hourly rates. Retainer cancellations require a formal fourteen (14) day advance written notice to halt recurring invoice generation. Any hours worked during the notice period remain fully billable. Unused prepaid retainer hours do not roll over to subsequent billing cycles unless explicitly agreed in writing.

6. SLA Performance & Warranty Remediation

If a delivered code module contains a material non-conformance defect that fundamentally violates the agreed SOW specifications and cannot be remediated by Magnence within the standard ninety (90) day Warranty Period, a pro-rata fee credit or partial refund for the specifically affected module will be issued pursuant to mutual agreement or contract arbitration review. This is the sole and exclusive remedy for performance defects. Cosmetic issues, preference changes, or scope additions do not constitute warranty claims.

7. Dispute Escalation & Resolution

Financial disputes follow a structured three-tier escalation process:

• Tier 1 — Project Manager Resolution (5 business days): The assigned project manager reviews the dispute, compares deliverables against SOW specifications, and proposes a resolution.
• Tier 2 — Executive Escalation (10 business days): If unresolved, the dispute escalates to senior leadership with a formal written review of all documentation, communication, and deliverables.
• Tier 3 — Binding Arbitration: If still unresolved, disputes are settled through binding arbitration as specified in the governing Terms of Service (ICC/AAA for international, Bangalore courts for domestic Indian clients).

8. Chargebacks & Unauthorized Reversals

Unauthorized payment chargebacks or bank reversals for work that has been delivered and accepted (or deemed accepted per Section 3) constitute a material breach of contract. Magnence reserves the right to suspend all active work, revoke access to staging and development environments, and pursue recovery of the disputed amount plus administrative costs through appropriate legal channels.

9. Credit Notes & Validity

Where a fee credit is issued in lieu of a cash refund (e.g., for scope adjustments or goodwill), the credit note is valid for twelve (12) months from the date of issue and may be applied toward any future Magnence engagement. Credit notes are non-transferable and carry no cash redemption value after the validity period.

10. Force Majeure

In cases of Force Majeure (acts of God, global pandemics, severe internet backbone failures, government-imposed restrictions), project timelines will be paused without penalty, but financial obligations for completed work remain binding. If the event continues beyond ninety (90) days, either party may terminate the affected SOW with pro-rata settlement of completed work.

11. Finance & Billing Contact

For invoice inquiries, GST/Tax certificate submissions, billing adjustments, FEMA compliance documentation, refund requests, or formal fee review requests, submit a written inquiry to our finance operations and legal team at legal@magnence.com. All billing inquiries are acknowledged within two (2) business days.