Late-Payment Penalties and Payment Fees

Before signing the contract for the program, be sure to read the terms and conditions, especially the clauses on late payment. In case of late payment, the participant will be charged a penalty of 150 USD. If you choose the deferred payment option, there are also penalties for late monthly payments in the amount of 150 USD per missed payment. All costs, including bank charges, related to the payment under the contract, as well as refunds, shall be borne by the participant. When paying for services via bank transfer or payment systems, the participant is obliged to make sure that the full amount is credited to the account of IEC without commissions and fees. If a participant is entitled to a refund, it is important to remember that transfer fees will be deducted from the refunded amount. Refund fees vary depending on the payment system or bank. Related topics: - Deferred Payment Plan - Payment of the second installment