Vendor Payment Policy

1. Purpose

This Vendor Payment Policy establishes the standard payment procedures, timelines, verification conditions, and compliance expectations that Kulture Media follows for all vendors associated with events, production, services, printing, and operational requirements.

2. Vendor Categories Covered

This policy applies to all vendors providing:

• Event production, décor, sound & light, staging, manpower, logistics
• Photography, videography, editing, design & creative services
• Printing, flex, signage, merchandise, neon boards
• Technical rentals, LED screens, equipment & IT support
• Any other approved operational or creative service

3. Invoice Submission Requirements

Vendors must submit a complete invoice to initiate the payment cycle. The invoice must include:

• Vendor name & business name
• Address, contact details & GST number (if applicable)
• Description of service/work completed
• Date of service
• Total amount with tax breakup
• Bank account details for NEFT/IMPS/UPI
• Supporting documents (deliverables, challans, proofs, if requested)

Incomplete or incorrect invoices will not be processed.

4. Payment Timeline

All vendor payments will be processed within 15 days from the date Kulture Media receives the complete and correct invoice.

The 15-day period begins only after internal teams verify and approve the invoice.

5. Event-Based Vendors

For event-related work such as production, manpower, rentals, printing, and décor:

• Payments are processed within 15 days after invoice submission and event completion.
• Final settlement may depend on reconciliation of event expenses and deliverables.

6. Creators, Influencers & Creative Vendors

Payments to creators, influencers, photographers, videographers, editors, and designers will be initiated within 15 days after:

• Deliverables are submitted
• Work is approved by the concerned team
• Invoice is submitted in full and correct format

7. Advance Payments

Advance payments are provided only when pre-approved in writing by management. Any advance amount will be adjusted during the final invoice settlement.

8. Invoice Verification Process

All invoices undergo verification before approval. This includes:

• Service completion check
• Deliverables & quality verification
• Budget approval and internal documentation
• GST & compliance validation
• Event/project reconciliation where applicable

If discrepancies are found, the vendor will be informed. Payment processing resumes only after corrections are submitted.

9. Deductions & Adjustments

Kulture Media may deduct or adjust payments for:

• Incomplete or low-quality work
• Damage to equipment or property
• Delay in deliverables
• Non-compliance with agreed terms

10. Payment Methods

Payments are made through:

• NEFT / RTGS / IMPS
• UPI (For Bills Upto Rs.1000)
• Cheque (rare cases only)

No cash payments will be made unless formally approved.

11. Vendor Compliance

All vendors must comply with:

• Timely delivery of services
• Professional conduct onsite and offsite
• Accurate invoice submission
• Safety, operational and legal requirements
• Signing the Vendor Registration & T&C Form

12. Policy Updates

Kulture Media reserves the right to amend or update this policy at any time. Vendors will be notified of major changes through official communication.

No vendor will receive 100% advance payment without prior approval from the authorized team.