AscentCore Technology, SRL Standard Billing Practices
This document outlines the policies and procedures AscentCore follows as its standard billing practices. All the policies and procedures are subject to reasonable revision and change upon notice to the Client. Requests for exceptions to these practices will be should be submitted in writing. Certain capitalized terms herein have the meanings ascribed them in AscentCore’s standard Master Services Agreement to which this exhibit is attached (sometimes referred to as, the “Agreement” or the “MSA”).
- VDC (Dedicated team member) Billing: Billing will be based entirely on the fees agreed in the current SOW(s). Actual hours worked for each individual may be tracked and used to allow AscentCore and the Client to manage resource utilization of each member of the VDC team but this data will have no effect on the agreed monthly invoice amount in the SOW.
- Full-time v. Part-time Resources: Full-time resources are typically billed on a monthly rate basis. Part-time resources are typically billed on a daily or hourly rate basis, which are higher than monthly rates. Rates are reviewed annually to ensure competitive salaries and increase retention. Rate increases will not exceed 5% per annum without prior written consent.
- Monthly Rate: For Statement of Work’s (SOW’s) that refer to a monthly rate, and the employee is allocated to the Client on a full-time basis, invoices will not be adjusted for Paid Time Off (PTO).
- Partial month: For work during a partial month, as with the first or last month a new team member comes onto a client engagement, the monthly rate will be prorated by multiplying that rate by the number of days allocated divided by twenty standard work days (Applicable Rate * Days Worked / 20).
- Discounting. Unless otherwise specifically agreed to in writing by AscentCore, any discounts on fees or rates for the Services extended to the Client shall expire at the end of the Initial Term of the Client’s MSA.
- Per Diem. Where a per diem is specified for expenses, per diem will be calculated based on common factors such as location of the stay, seniority of the team member(s), etc..
- Invoice Frequency. Invoices will be issued by default on a semi-monthly basis approximately on the 15th and last day of the month.
- Late Payment of Fees. The following escalation of activities will apply to late fees as listed below. These activities assume that no alternate arrangements have been made.
- 1 week late: Grace period. No action.
- Start of week 2: AscentCore will charge interest as already agreed in the MSA.
- Start of week 4: AscentCore will continue to work but will not make available any Work Product to the Client.
- Start of week 5: AscentCore will continue to work on Client activities but begin the process of allowing the Client’s resources to transition to other Client engagements permanently.
- Start of week 6: AscentCore will; a) terminate the MSA as specified in the MSA, b) immediately stop work, and c) bill the client for a 60 day termination fee using the average daily rate from the most recently provided invoice, unless otherwise agreed in the MSA.
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