THE BILLABLE RATES:
Projects are billed based on one of three hourly rates, determined solely by the expectations of the individual client: Standard or “long-lead” projects, those with a reasonably expected delivery date (usually within ten business days or more), are billed at the rate of $150 USD per-hour; On-Demand assignments, projects or tasks with a need for more immediate delivery (usually within five to ten business days), are billed at the rate of $225 USD per-hour; and ‘Rushed’ projects, or those with a delivery date of less than five business days, are billed at the rate of $300 USD per-hour.
Meeting, Communication, and Project Management time is billed at the discounted rate of $100 USD per-hour, unless otherwise stipulated with formal agreement.
THE BILLABLE PROCESS:
Clarity and continuity are the bedrock to a mutually beneficial professional relationship, this we know for sure. Eric Michael and his team of associates work diligently to ensure every request for work is met with the most accurate, fair, and transparent value assessment and collection practices possible.
Formal proposals and requests for work are served “flat-rate” value assessments. Eric Michael personally evaluates the needs of the organizations and expectations of the client to render a full, flat-rate scope of work with detailed turnaround times and value assessment. If accepted (“as-is”), flat-rate assessments do not change with respect to the delivery of the requested service.
One-off projects for existing clients are billed by-the-hour. Quotations are served to known clients whose expectations are clear but may not require a detailed scope. ‘Quoted’ projects are given a detailed description of task, time, and investment for review and acceptance by the client; billable hours are tracked and invoiced at the end of each month or the completion of work (whichever comes first).
BILLING SCHEDULES:
New clients, or existing clients requesting work valued at or above $5,000 USD, may expect an invoice immediately upon their acceptance of any/all scopes of work.
Hourly commitments (projects billed on-demand by-the-hour) plus any/all additional costs (including overtime) that have been added to a client account throughout the course of a calendar month are invoiced on/around the 1st of the following month. (For example, all of November’s hours arrive on December 1st.)
Clients who engage the studio for recurring service agreements and/or employ Eric Michael to maintain specific third-party licensing and services on their behalf are subject to automatic billing. No exceptions. More on that under ‘AutoPay’ below.
TERMS OF PAYMENT:
All sales are final.
Payment Requests and Invoices are due in-full upon request. No exceptions.
All New Client proposals (“Invitations to Collaborate”) and medium- to large-scale quotations and scopes of work (or those exceeding $5,000 in total assessed value) (for new or existing clients) are due in full, in advance of work. No exceptions.
Payment Requests and Invoices to existing clients who have accepted the Terms of AutoPay (during the new account registration process) are automatically processed via the payment method on file five (5) business days after receipt. Please consult any client-specific or Master Service Agreements for terms and conditions.
Late Fees:
Any Invoices or Requests for payment that do not qualify for AutoPay and are ignored or unsettled by the client for more than ten business days are subject to Late Fees at the rate of 2% of the invoice total. Late Fees are reapplied every five days, concurrently, until the total past-due amount is paid in full.
TERMS OF AUTOPAY:
If you engage Eric Michael & Associates to support you or your organization through regular and recurring services (such as through ‘Managed Digital’ services) and/or in the facilitation of third-party service licensing, or software procurement, you will need to agree to the AutoPay terms. These terms are served “as needed”, per-client account.
Automatic Payments (AutoPay) is how we circumvent risk and ensure a more effective and streamlined approach to collaboration. Simply put, accepting the terms of AutoPay grants Eric Michael the authority necessary to charge a client account for any/all cost of service covered via the payment method the client has on file.
AutoPay is about more than payment processing. It’s an all-encompassing system that relies on paperless billing, sensitive response times, and more. It’s highly encouraged that clients review these terms in advance of final acceptance.
PAYMENT ARRANGEMENTS:
Eric Michael is committed to strengthening the faith and trust throughout his creative partnerships and nothing erodes those two values like sensing a lack of cooperation, this we know for sure. That’s why, from time to time (and solely at his discretion), clients may be welcomed to capitalize on the support of payment arrangements.
Payment Arrangements are considered to be any payment structure that allows for a significant balance (those that exceed the minimum threshold) to be divided up amongst more than one installment. Typical arrangements include an initial payment valued at 50% the total cost of service, as show of good faith, with remaining balances dispersed over the following weeks.
Payment Arrangements are subject to individual terms and conditions at the time of acceptance and the terms and conditions of AutoPay as it relates to payment processing. Please note, in an effort to mitigate risk, overall productivity will never anchor the schedule or overall arrangement towards the collection of payment.
VALUE-BASED PRICING:
Eric Michael uses value as a singular guidepost in measuring and assessing the financial return of his professional, strategic, and creative contributions to the entrepreneurial pursuits of his clients. This shows up and impacts client investment in a variety of ways:
New Client discovery and proposal is deeply-rooted in education and connection while we work ensure core value alignment before we begin any work together. You’ll take note of strategic messaging—’Total Value of Work’ instead of ‘Total Cost of Work’ on itemized scopes—and feel the impact of open-channel communication and negotiation.*
Existing Clients (with good standing): Propriartay self-valuation payment gateways support assessment and payment processing based on the self-perceived value of work. That’s right: clients pay what they wish.
Read more about the process here »
*This will get even richer once we implement the lessons and proven methodology of our earlier mentioned ‘pay what you wish’ gateway functionality into the new client and project acceptance workflow, later this year. In the meantime, rest assured that everything is open for discussion.
NOTE: Payment Requests using the ‘pay what you wish’ functionality are respected and treated the same as traditional Invoices. They are the result of client-requested quotation and client-approved commitments (time and suggested value). The time out on the same schedule and are automatically processed in the same fashion as outlined above.
This page outlines the expectations, processes, terms, and conditions as it relates to paying Eric Michael and his team of associates for work across the creative studio.
A WORD FROM ERIC MICHAEL:
There’s nothing I value more than the relationship I share with my clients (and it won’t take you long to understand why). I have come to consider trust and transparency to be the keystone of meaningful creative collaboration and the team and I ‘bring our all’ in this department, the best we can.
My steps are always mindful when billing clients and I believe our rates, processes, and terms to be both fair and equitable to all parties, given the nature of the work and its intention and impact across organizations and teams.
Please know that my door is always open. You’ll just as quickly find I’m committed to maintaining a conscious state of open and effective communication with clients at all times. If any number of my terms, conditions or individual efforts warrant reasoning or clarification, I encourage a steadfast address and dialogue.
