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Non Refundable Payment Agreement

Non Refundable Payment Agreement Template for India

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Non Refundable Payment Agreement

"I need a Non Refundable Payment Agreement for my software development company based in Bangalore, where clients must pay 50% upfront for custom software development projects, with clear terms about intellectual property rights and service level agreements."

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The Non-Refundable Payment Agreement is essential in transactions where advance or milestone payments are required without the possibility of refund. This document is commonly used in Indian business contexts where services or goods require upfront commitment, such as event bookings, course registrations, or property developments. It provides legal protection under Indian law while clearly establishing the non-refundable nature of payments, helping prevent future disputes. The agreement is particularly relevant in scenarios requiring advance financial commitment, where the service provider needs to secure resources or make preparations based on the client's commitment. It includes detailed payment terms, service specifications, and acknowledgment of the non-refundable nature of the payment, all while ensuring compliance with Indian contract law and consumer protection regulations.
Suggested Sections

1. Parties: Identification and details of all parties involved in the agreement

2. Background: Context of the agreement, including the purpose and circumstances leading to the non-refundable payment arrangement

3. Definitions: Key terms used throughout the agreement and their specific meanings

4. Payment Terms: Detailed description of the payment amount, method, and timeline

5. Non-Refundable Nature: Clear statement and explanation of the non-refundable nature of the payment

6. Purpose of Payment: Specific details about what the payment is for and the services/goods to be provided

7. Acknowledgment: Party's explicit acknowledgment of understanding the non-refundable nature

8. Representations and Warranties: Statements of fact and guarantees made by both parties

9. Force Majeure: Circumstances under which obligations may be suspended or modified

10. Governing Law: Specification of Indian law as the governing law and jurisdiction

11. Dispute Resolution: Process for handling disputes between parties

12. Notices: How formal communications between parties should be made and delivered

13. Entire Agreement: Confirmation that this document represents the complete agreement between parties

Optional Sections

1. Partial Refund Conditions: Used when specific circumstances might warrant a partial refund despite the general non-refundable nature

2. Service Level Requirements: Include when the payment is tied to specific service levels or performance metrics

3. Confidentiality: Required when sensitive information is shared as part of the agreement

4. Intellectual Property: Include when the payment involves licensing or transfer of IP rights

5. Assignment: Add when either party needs the right to transfer their rights or obligations

6. Term and Termination: Include for ongoing arrangements with specific duration or termination conditions

7. Insurance: Required when specific insurance coverage needs to be maintained by either party

Suggested Schedules

1. Payment Schedule: Detailed breakdown of payment amounts and due dates if multiple payments are involved

2. Service Description: Detailed description of services or goods covered by the non-refundable payment

3. Required Documents: List of documents required from either party

4. Authorized Representatives: List of persons authorized to act on behalf of each party

5. Compliance Requirements: Specific regulatory or compliance requirements applicable to the agreement

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions






























Clauses























Relevant Industries

Education

Real Estate

Events & Entertainment

Professional Services

Information Technology

Healthcare

Hospitality

Retail

Manufacturing

Construction

Travel & Tourism

Relevant Teams

Legal

Finance

Operations

Sales

Compliance

Risk Management

Commercial

Business Development

Contract Administration

Customer Relations

Relevant Roles

Legal Counsel

Contract Manager

Business Development Manager

Finance Manager

Operations Director

Project Manager

Sales Manager

Compliance Officer

Risk Manager

Chief Financial Officer

Chief Legal Officer

Commercial Director

Account Executive

Business Owner

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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