Billing & Cancellation Policy

Amount: € 0 - € 9,999 (excluding VAT)

• 100% at the start of the work.
• Payment term: 30 days (unless contractually agreed otherwise).

Amount: € 10,000 - € 29,999 (excluding VAT)

• Partial invoice 1: 50% at the start of the work.
• Partial invoice 2: 50% halfway through the project.
• Payment term: 30 days (unless contractually agreed otherwise).

Amount: € 30,000 or more (excluding VAT)

• Partial invoice 1: 50% at the start of the work.
• Partial invoice 2: 40% halfway through the project.
• Partial invoice 3: 10% upon delivery of all deliverables.
• Payment term: 30 days (unless contractually agreed otherwise).

Additional, regarding post-calculation 
If a project is executed on a post-calculation basis, the realized hours will be invoiced on the last working day of the respective month.

Additional, regarding production companies 
When engaging a production company (for video/commercial), Born05 applies the following procedure concerning pre-invoicing from our supplier(s):

• At least 60% of the estimated costs for the production company must be paid three working days before the shoot date. The payment term on the separate invoice will be adjusted accordingly.
• The remaining amount of the total budget will be invoiced according to the standard invoicing process.
• If the 60% production invoice is not paid on time, production may be delayed. Any additional costs resulting from this will be charged to the client.

For rescheduling or cancellation by the client of already scheduled assignments, we apply the following conditions (unless contractually agreed otherwise), whereby the cause, consequence, and partnership are carefully weighed in mutual consultation:

Cancelling the assignment

After budget approval and in case of scheduled work:

• Cancellation within 10 working days before the start of the scheduled work:
  • 100% invoicing of the planned hours in weeks 1 & 2.
  • 50% invoicing of the planned hours in week 3.
• Cancellation more than 10 working days before the start of the scheduled work:
  • No charge for the planned hours.

Rescheduling the assignment

After budget approval and in case of scheduled work:

• Rescheduling within 10 working days before the start of the scheduled work (maximum 20 working days postponed*):
  • 25% invoicing of the planned hours in weeks 1 & 2.
• Rescheduling more than 10 working days before the start of the scheduled work:
  • No charge for the planned hours.

Additional

For assignments with an approved amount of € 100,000 or more (excluding VAT), if cancelled within 10 to 20 working days before the start of the scheduled work, 25% of the planned hours in weeks 1 and 2 will be charged. 

For assignments with an approved amount of € 100,000 or more (excluding VAT), if rescheduled within 10 to 20 working days before the start of the scheduled work (maximum 20 working days*), 15% of the planned hours in weeks 1 and 2 will be charged.

* If the work is postponed by more than 20 working days, this will be considered a cancellation, unless Born05's workload is a hindering factor to resume the assignment within 20 working days.