1. Refund Policy: In the event of project cancellation initiated by the client, refunds for any payments made will be issued according to the following schedule:
2. Retained Amounts by Nexus IT Solutions: In the event of project cancellation by the client, Nexus IT Solutions may retain a portion of the total project cost to cover expenses already incurred and the time invested in the project. The retained amount will be determined based on the progress made on the project and any non-recoverable expenses incurred by Nexus IT Solutions up to the date of cancellation.
3. Communication of Retained Amounts: Nexus IT Solutions will provide a detailed breakdown of any retained amounts to the client upon notification of project cancellation. The client will have the opportunity to review and discuss the retained amounts with Nexus IT Solutions to ensure transparency and fairness in the cancellation process.
4. Limitation of Retained Amounts: The maximum percentage of the total project cost that Nexus IT Solutions may retain in the event of project cancellation will not exceed [percentage, e.g., 50%] unless otherwise specified in the project agreement or contract signed between Nexus IT Solutions and the client.
