Payment Policy

1. Purpose and Scope

This Payment Policy sets out the payment terms, accepted payment methods, invoicing practice and refund position of RK Label Printing Machinery Pvt. Ltd. ("RK Label Machines", "the Company", "we", "us") in respect of the supply of machinery, spare parts and services to our customers in India and overseas.

This Policy should be read together with our Terms & Conditions and Privacy Policy. Where a signed contract, Order Confirmation or proforma invoice specifies different payment terms for a particular order, those terms will prevail over this Policy for that order.

This Policy applies to business and industrial buyers. Our machinery is engineered and built to order; the payment structure below reflects that manufacturing reality.

2. Pricing Basis

• Prices are quoted only in writing, through a formal Quotation or proforma invoice. Prices communicated verbally, over telephone or in informal messages are indicative and not binding.
• Unless expressly stated otherwise, prices are Ex-Works our factory at Ahmedabad and exclude packing, forwarding, freight, insurance, loading, unloading, installation and commissioning.
• Domestic prices are quoted in Indian Rupees (INR). Export prices are quoted in USD, EUR or another currency as agreed, on the Incoterm stated in the Quotation.
• Quotation validity: Quotations are valid for 30 days from the date of issue. After expiry, prices are subject to revision on account of raw material cost, currency movement, statutory levies or specification change.
• Any change to the agreed specification after Order Confirmation may result in a price revision, which will be communicated in writing before it is applied.

3. Taxes, Duties and Statutory Levies

Domestic supplies: Our machinery falls under HSN code 84431400. GST is charged extra at the applicable rate prevailing on the date of invoice — currently 18%. Any change in statutory rates between the order date and the invoice date will be to the Buyer’s account.

Export supplies: Supplied under the applicable GST provisions for exports. All import duties, customs clearance charges, port charges, local taxes and statutory approvals in the destination country are entirely to the Buyer’s account and are not included in our prices.

TDS / withholding tax: Where the Buyer is required by law to deduct tax at source, the deduction must be supported by a valid TDS certificate issued within the statutory timeline. Withholding without a certificate will be treated as short payment.

• The Buyer must provide a correct GSTIN, PAN and billing address at the time of order. We are not responsible for input tax credit lost due to incorrect details supplied by the Buyer.

4. Payment Schedule

Because our machines are custom-built, payment is linked to manufacturing milestones. Our standard schedule for machinery orders is set out below, and the exact percentages applicable to your order will be stated in the proforma invoice.

4.1 Domestic Orders (India)

4.2 Export Orders

Note: Dispatch is made only after the pre-dispatch payment is received and credited into our account. Goods will not be released against a payment advice, cheque in transit or unconfirmed remittance.

4.3 Spare Parts, Accessories and Consumables

Spare parts, accessories and consumables are supplied against 100% advance payment. Urgent or air-freighted parts may attract additional charges, which are advised in advance.

4.4 Service Visits, AMC and Training

• Chargeable service visits are billed as per our prevailing service rates, plus actual travel, boarding, lodging and local transport of our engineers.
• Annual Maintenance Contracts are payable in advance at the commencement of the contract period.
• For overseas service visits, visa, air travel, insurance and per-diem costs are payable in advance before the engineer’s travel is booked.

5. Accepted Payment Methods

We accept payment through the following channels only. Payments made through any other channel are at the Buyer’s own risk and may not be recognised.

• All bank charges, remittance charges, intermediary bank charges and currency conversion costs outside India are to the Buyer’s account. The invoice value must be received by us in full.
• Payments must be made without set-off, counter-claim, deduction or withholding, except where required by law.

6. Remittance Details

For security reasons, we do not publish our bank account details on this Website.

Our banking details — including account name, account number, IFSC, SWIFT/BIC and AD Code where applicable — are issued to you directly on the proforma invoice raised against your confirmed order. Payments must be remitted only to the account stated on that proforma invoice.

Our company statutory details (GSTIN, PAN and IEC) appear on the tax invoice and export documentation issued for your order, and can also be provided on written request.

If you have not received a proforma invoice and require remittance details, please request them from our accounts team using the contact details in Section 15. Do not act on banking details received from any other source.

7. Invoicing and Payment Confirmation

• A proforma invoice is issued on order confirmation, stating the agreed price, payment schedule, delivery period and specification. It is not a tax invoice.
• A GST tax invoice (or export invoice) is issued at the time of dispatch, in compliance with applicable e-invoicing and e-way bill requirements.
• After making a payment, please share the UTR / transaction reference, SWIFT copy or payment advice by email so we can identify and credit your remittance promptly.
• Please quote the proforma invoice number in the payment narration. Unidentified remittances may delay credit to your account and, consequently, dispatch of your machine.

Accounts queries and payment confirmations may be sent to info@rklabelmachines.com.

8. Delayed Payment

Where payment is not received by the due date stated on the invoice, we reserve the right to:

• Suspend manufacturing, testing, dispatch, installation or service support in respect of that order and any other pending order of the Buyer;
• Hold the completed machine at our factory at the Buyer’s risk until payment is received;
• Withhold warranty support until the account is regularised; and
• Recover all reasonable costs of collection, including legal and recovery expenses.

We do not presently levy interest or storage charges on delayed payment. Any forbearance in enforcing payment on the due date does not constitute an extension of credit or a waiver of our right to enforce the agreed payment terms.

9. Advance Payments, Cancellation and Refunds

Our machinery is manufactured to each customer’s specification, and material procurement begins immediately on order confirmation. Accordingly:

• All approved refunds are made to the original remitting bank account only, in the original currency of receipt. We do not refund to third-party accounts or in cash.
• Exchange rate differences on refunds of foreign currency remittances are to the Buyer’s account.

10. Title and Risk

Title in the Goods passes to the Buyer only upon receipt of the full contract value in cleared funds. Risk passes on dispatch from our factory or as per the agreed Incoterm, whichever is earlier.

Until title passes, the Buyer must keep the Goods insured, identifiable and free from any charge or lien, and must not resell, relocate or dismantle them without our prior written consent.

11. Currency and Exchange Rate

• Where an export price is quoted in a foreign currency, the Buyer bears the exchange rate risk. The full invoice value in the quoted currency must be received in our account.
• Where a domestic order is priced with reference to an imported component, we reserve the right to revise the price in the event of a material adverse movement in the exchange rate between the order date and the procurement date. Any such revision will be communicated to the Buyer in writing before it is applied.

12. Compliance

• All transactions are subject to applicable Indian law, including the Foreign Exchange Management Act, 1999, the Goods and Services Tax legislation, the Income Tax Act, 1961, and applicable customs and export control regulations.
• We may decline or reverse any transaction where we are unable to satisfy ourselves as to its legality, the source of funds, or the identity of the remitter.
• The Buyer confirms that payments are made from its own legitimate business account and not on behalf of any sanctioned person or entity.

13. Disputes Relating to Payment

Any dispute regarding an invoice must be raised in writing within 7 days of receipt of the invoice, specifying the disputed amount and the reason. Undisputed amounts remain payable on the due date.

Payment disputes not resolved amicably shall be dealt with in accordance with the dispute resolution and jurisdiction provisions of our Terms & Conditions — arbitration seated at Ahmedabad, Gujarat, India, under the Arbitration and Conciliation Act, 1996.

14. Changes to This Policy

We may revise this Payment Policy from time to time. The version published on the Website on the date of your order confirmation applies to that order. Material changes will be reflected by an updated "Last Updated" date on this page.

15. Accounts Contact

This Payment Policy forms part of the Terms & Conditions of RK Label Printing Machinery Pvt. Ltd. and is governed by the laws of India.