Payment and Collections Policy

Bermuda Dental Studio Payment, Fees, and Recovery Policy

Invoicing

• Each dental case will be accompanied by an invoice, providing clients with the flexibility of two payment options

Payment Options:

Payment Option	Option 1: No Retainer Required (Standard)	Option 2: Monthly with Starting Credit
Billing Cycle	Bi-Weekly
(~14th & 28th of each month)	Monthly
(Balance that exceeds credit to be billed monthly)
Payment Terms	Payment due upon receipt	Payment due upon receipt
Retainer Payment Amount	No retainer required	$500 minimum
Credit Application	-	Credit due the 1st of each month
or before the start of services
Must have zero balance for payment to be a credit
Payment Cycle for Retainer	-	Monthly
Credit Application Usage	-	Credit will be applied to services completed that month and roll over if unused.
Additional Credit Incentive	-	A 10% additional credit will be applied each month the retainer payment is made.
(Savings of $50 per month/$200 per quarter/$600 per year)
Account Hold Enforcement	Account Hold will be enforced for overdue balances	Account Hold will be enforced for overdue balances

Payment Process:

Payments can be made to the designated Clarien Bank Account # 6000225614. Please note that wire transfers will incur a $7 charge.

Monthly Statements:

All invoices, regardless of the chosen payment option, will be compiled in a comprehensive monthly statement, sent collectively to each dental office (Client).

Payment Terms:

Clients are expected to settle all outstanding invoices within 15 days of the statement date, irrespective of the chosen payment option.

Account Holds:

Failure to settle outstanding balances may result in the temporary hold of your account. Once the balance is paid or a payment plan is in place and honored, account holds will be lifted promptly.

Collections Process:

If payment is not received within the stipulated timeframe, the overdue account may be referred to our collections partner, Amicus Ltd.
The customer/dental provider will be responsible for all costs associated with debt recovery, including late interest fees, collection fees, and any legal expenses incurred.

Finance Fees:

A monthly finance fee of 5% will be applied to all overdue balances on the subsequent statement date.

Payment Descriptions: