Billing Policy for Consulting, Development and Design Services:

All balances for completed work are due on receipt of invoice. Balances not received within 15 days are subject to finance charges of 1.5% per month or 18% annually to accrue starting the day after the due date, and will continue to accrue on the total or remaining balance until the client's account balance is paid in full.

Billing Policy for Change Orders:

All balances for change orders are due prior to commencement of work.

Billing Policy for Web Hosting:

Service fees are due on the first of every month. Payment of invoices must be received at the office of Stingray by 5pm EST on the due date or client agrees to pay a $15.00 late payment charge. If payment has not been received by 5pm on the tenth (10) day after the invoice due date, the account will be frozen (made inaccessible to the outside public) and you will be denied access via FTP, Web, E-mail or by any other means to the account until payment has been resolved. If Customer fails to make payment within 30 days of invoice date, Customer shall be permanently removed from Stingray web servers without notice. All overdue accounts shall incur a 1.5% per month or 18% annual interest charge until balance is paid in full.

The Stingray Billing Policy is subject to change without notice.

Updated: 12.15.02