boan.BOAN-POL-BILL-01
boan.
Billing and Payment Terms
- Document
- BOAN-POL-BILL-01
- Version
- 1.0
- Effective from
- 09 August 2026
- Applies to
- Agency clients and store customers
- Published by
- Bonang M Investments (Pty) Ltd t/a BOAN, Reg. No. 2026/036723/07
This document sets out how BOAN bills and how payment is made. It applies alongside our Master Services Agreement for agency work and alongside our Terms and Conditions of Sale for store purchases. Where a signed agreement says something different, that agreement prevails.
It is published so that a client's accounts department has one document answering the questions it usually has to ask.
1How agency work is billed
1.1Work is quoted before it begins. A quotation is open for acceptance for thirty (30) days unless it says otherwise.
1.2A deposit of fifty percent (50%) of the fees is payable before work commences, unless the statement of work records a different schedule. We are not obliged to start or to continue while the deposit or any other amount due is unpaid.
1.3The balance is payable on final approval of the last deliverable, whether or not the deliverables have yet been put to use.
1.4On projects running longer than eight weeks we invoice monthly in arrears against progress, and the deposit is set off against the final invoice.
1.5Where a statement of work records that work is charged on a time basis, it is billed at our published rates in increments of fifteen (15) minutes, with a monthly statement of the time recorded.
2VAT and quoted amounts
2.1Fees quoted for agency work are exclusive of VAT. Where we are a registered vendor, VAT at the prevailing rate is added to every invoice and the invoice is issued as a tax invoice bearing our VAT number.
2.2Prices displayed on the store are inclusive of VAT where we are a registered vendor.
2.3Where we are not yet a registered vendor, no VAT is charged and no VAT may be claimed on our invoices.
3Payment terms
3.1Agency invoices are payable within thirty (30) days of the date of invoice unless the statement of work records otherwise.
3.2Store orders are payable in full at checkout, before dispatch.
3.3Payment must be made without deduction, set-off or withholding of any nature.
3.4Where you require a purchase order number on our invoice, tell us before we invoice. The absence of a purchase order is not a reason to delay payment where the work was instructed and performed.
4How to pay
4.1Agency invoices are paid by electronic funds transfer into the account printed on the invoice, using the invoice number as the reference so that we can allocate the payment.
4.2Store orders are paid by card, instant EFT or any other method offered at checkout. Card details are entered directly with our payment provider and are never received or stored by us.
4.3We do not accept cash or cheques.
4.4Where a payment cannot be allocated because no reference was given, it is applied to the oldest outstanding invoice.
5Verifying our banking details
5.1BOAN will never notify a change of its banking details by email alone. Invoice redirection fraud, in which a third party impersonates a supplier and sends new bank details, is common and the loss usually falls on the payer.
5.2If you receive any communication purporting to change our banking details, treat it as fraudulent until you have confirmed it telephonically with a director on the number in the contact block below, using that number and not one given in the suspect message.
5.3We are not responsible for any payment made into an account that was not verified in the manner described in clause 5.2, and such a payment does not discharge the debt.
5.4We are happy to provide a signed confirmation of banking details on our letterhead for your vendor onboarding, on request.
6Queries on an invoice
6.1A query must be raised in writing within seven (7) business days of the date of the invoice, failing which the invoice is deemed correct and accepted.
6.2Where a query is raised, you may withhold only the portion genuinely in dispute. The balance remains payable on the due date.
6.3We will respond to a query within five (5) business days and will issue a credit note where one is due.
7Late payment
7.1Interest runs on overdue amounts at the rate prescribed under the Prescribed Rate of Interest Act 55 of 1975, from the due date to the date of actual payment.
7.2Where an amount is overdue we may suspend work on five (5) business days written notice, and we are not liable for any delay that suspension causes. Dates extend by the period of the suspension.
7.3Ownership of the intellectual property in the deliverables does not pass until we have been paid in full. Until then, use of the work is an infringement of our rights.
7.4During a suspension we are not obliged to release any deliverable, file or asset to you or to any third party.
7.5You are liable for the costs of recovering an overdue amount, including legal costs on the attorney and own client scale and collection commission.
7.6Where an account is overdue we may require payment in advance on future work.
8Third party costs
8.1Fees exclude disbursements such as printing, manufacture, font and stock licences, couriers, travel and media spend.
8.2We obtain your written approval before incurring any single disbursement over R2 500.00, and we may require payment in advance for a disbursement we are to pay on your behalf.
8.3Disbursements are charged at cost plus a handling fee of fifteen percent (15%).
9Credits and refunds
9.1Where a refund is due it is paid to the original method of payment, or by electronic transfer to the account from which payment came. We do not refund to a third party account.
9.2Refunds on store orders are dealt with in our Returns, Refunds and Cancellations Policy and are made within the periods that Act requires.
9.3On agency work, the deposit is not refundable except as the Master Services Agreement provides on termination.
10Records
10.1We keep invoices, statements and proof of payment for five (5) years, as the Companies Act and the Tax Administration Act require.
10.2A copy of any invoice or statement is available on request at no charge.
How to contact us
- Company
- Bonang M Investments (Pty) Ltd
- Trading as
- BOAN
- Registration number
- 2026/036723/07
- Postal address
- PO Box 4471, Parklands, Johannesburg, 2121
- studio@boan.co.za
- Telephone
- +27 11 447 0140