Freight24 Client Payment Policy

1. Purpose

This Payment Policy explains how Freight24 handles payments received from Clients.

The purpose is to keep payment terms clear, predictable, and transparent for everyone involved.

This policy covers:

• Advance and balance payments
• POD requirements
• Detention and additional charges
• Deductions and adjustments
• Client invoicing and payment terms
• Payment delays and disputes
• Payment holds and account restrictions
• Payment reconciliation and closure

Where a specific commercial agreement with a client provides different terms, the approved agreement will apply.

2. Applicability

This policy applies to all Clients registered with Freight24.

The payment terms apply to trips/services booked or processed through Freight24.

3. Client Payment Structure

Freight24 follows a 90% + 10% Client payment structure as its standard.

90% Payment

The Client must pay 90% of the agreed freight amount once:

• The truck is loaded.
• Loading Memo & LR is submitted.
• LR is verified by Client.

The Client must make the 90% payment within 24 hours from LR verification.

The 90% payment is calculated on the agreed freight amount.

4. Client Balance Payment

The remaining 10% balance is payable after POD delivery/verification as applicable.

Freight24 Standard

Freight24's standard Client payment term is:

Within 15 days from the date the POD is delivered to the Client.

However, payment terms may vary from Client to Client.

Where a different payment term has been specifically agreed and approved with a Client, the Client-specific agreed term will apply.

The applicable payment term should be recorded in the Freight24 system/client agreement.

5. Client Payment Methods

Clients may make payments through:

• Bank transfer
• UPI

Payments should normally be made to Freight24's registered/verified bank account or UPI ID.

For specific cases, Freight24 may provide alternate payment details, subject to internal authorization.

6. Client Payment Confirmation

After making a payment, the Client should provide payment confirmation and transaction/reference details where requested.

Freight24 will independently verify the payment received in its designated bank/UPI account.

7. Client Invoice

Freight24 will issue invoices trip-wise by default.

Where agreed with the Client, Freight24 may issue consolidated invoices covering multiple trips.

The applicable billing arrangement should be recorded in the Client agreement/Freight24 system.

Invoices may include:

• Trip reference
• Freight amount
• Approved additional charges
• Detention
• Applicable taxes
• Adjustments
• Other applicable amounts

8. Invoice & Physical POD Submission

Freight24 will submit the invoice along with the physical POD to the Client.

Documents may be delivered through:

• Courier
• Hand delivery
• Approved logistics/service provider
• Any other accepted delivery method

The applicable Client payment timeline will be based on the agreed terms, with Freight24's standard being within 15 days from the date the POD is delivered to the Client.

9. Proof of Invoice/POD Delivery

Freight24 may use any reasonable proof to establish delivery of the physical POD and invoice, depending on the delivery method.

Examples include:

• Courier delivery confirmation
• Client acknowledgement
• Receipt
• Approved delivery confirmation
• Other verifiable delivery records

Delivery records should be retained for payment tracking and reconciliation.

10. Overdue Client Payments

If a client does not pay within the agreed timeline, Freight24 may:

• Send a payment reminder.
• Escalate the matter to the Client's designated PIC/accounts team.
• Put future trips/bookings on hold where appropriate.
• Apply late-payment charges/interest only where specifically agreed with the Client.

11. Service Continuation During Payment Delay

Where a client has overdue payments, Freight24 may place new trips/bookings on hold, particularly when the Client exceeds the approved credit limit or fails to meet agreed payment terms.

Management may approve continued service as an exception based on:

• Outstanding amount
• Payment history
• Client relationship
• Business requirement
• Risk assessment

12. Client Payment Dispute

If a client disputes an invoice/payment:

• The Client should pay the undisputed amount within the applicable payment timeline.
• Only the disputed amount may normally be held pending resolution.
• Freight24 Management may approve a different arrangement in exceptional circumstances.
• The dispute and agreed payment arrangement should be recorded in the Freight24 system.

13. Client Payment Shortfall

If the Client pays less than the invoiced amount:

• The difference will be recorded as outstanding.
• Freight24 will contact the Client/PIC for clarification.
• If the difference is due to an approved deduction, adjustment, credit note, or other valid reason, it will be recorded accordingly.
• Any remaining amount will continue to be treated as outstanding until resolved and paid.

14. Client Overpayment

If a client pays more than the amount due:

• The excess will normally be carried forward and adjusted against a future invoice/trip.
• A refund may be provided after payment verification and management approval.
• The adjustment/refund will be recorded in the Freight24 system.

15. Failed Client Payment

If a client payment fails, is rejected, or is reversed:

• Freight24 will verify the issue.
• The Client will be requested to re-process the payment.
• Freight24 may provide alternate payment details where required and authorized.
• The unpaid amount remains outstanding until successfully received.
• The payment status and follow-up will be recorded in the Freight24 system.

16. Client Booking / Account Restriction

Freight24 may restrict a client’s ability to book or confirm new trips in cases including:

• Long-overdue payments
• Repeated payment defaults
• Repeated unexplained short payments
• Suspected fraudulent payment activity
• Other serious payment-related concerns

Depending on the seriousness of the matter, management approval may be required.

17. Client Re-activation

A restricted Client may be reactivated after:

• The underlying issue is resolved.
• Freight24 verifies the payment/account status.
• Management approval is obtained where required based on the seriousness of the issue.

The reactivation should be recorded in the Freight24 system.

18. Client Tax & Statutory Deductions

All Client payments and invoices will be handled in accordance with applicable GST, TDS, withholding tax, and other statutory requirements under applicable Indian laws.

Where a client makes a statutory deduction:

• The Client must provide the applicable certificate/documentation where required.
• Freight24 will reconcile the deduction against the relevant Client account/invoice.
• Required tax records will be maintained.

19. Client Payment Statement

Client billing and payment details will be available in the Freight24 system:

Trip-wise

Showing the financial details of individual trips.

Invoice-wise

Showing:

• Invoice amount
• Amount received
• Outstanding amount
• Adjustments
• Payment/reference details
• Other applicable financial information

20. Client Payment Reconciliation

Client payments will be reconciled trip-wise and invoice-wise in the Freight24 system.

Where consolidated billing is used, the reconciliation will follow the approved Client billing arrangement while maintaining appropriate trip/invoice references.

21. Financial Closure of Client Trip/Invoice

Once all amounts due for a trip/invoice have been received and reconciled, it will be considered financially closed.

Freight24 may reopen or adjust a financially closed trip/invoice if a later-discovered:

• Error
• Approved credit note
• Statutory adjustment
• Valid claim
• Other legitimate financial issue arises.

Any adjustment will be recorded in the Freight24 system.

22. Client Payment Dispute Resolution

Client payment disputes will be handled through:

First Level

Freight24 and the Client's designated PIC/accounts team will work to resolve the issue.

Escalation

If the issue cannot be resolved at the first level, it may be escalated to Freight24 Management.

Relevant discussions, adjustments, and final decisions should be recorded in the Freight24 system.

23. Client Payment Exceptions

Freight24 Management may approve exceptions or special payment arrangements for Clients on a case-by-case basis, including:

• Extended payment terms
• Temporary credit-limit increases
• Special payment schedules
• Waiver/reduction of late-payment charges where applicable
• Temporary continuation of trips despite overdue payments

All approved exceptions must be documented and recorded in the Freight24 system.

24. Failed Bank / UPI Transactions

Payment timelines under this policy refer to the time Freight24 or the Client initiates/processes the payment, as applicable.

Delays caused by banks, UPI networks, payment gateways, incorrect payment details, technical issues, or circumstances beyond the relevant party's reasonable control may be treated separately from normal payment delays.

25. Management Authority

Freight24 Accounts/Finance and Operations teams may handle routine payment, invoice, reconciliation, and operational matters within the approved policy.

Freight24 Management will handle:

• Exceptions
• Special payment arrangements
• Serious payment disputes
• Credit-limit exceptions
• Account restrictions
• Suspension/re-activation matters
• Other matters requiring management approval

Approved exceptions and special arrangements must be recorded in the Freight24 system.

26. General Conditions

• All payments are subject to applicable verification, documentation, deductions, and statutory requirements.
• Freight24 may update payment status and financial records in its system based on actual transaction status.
• Any fraudulent, misleading, or materially incorrect information may result in payment hold, account restriction, suspension, or other appropriate action.
• Freight24 may request additional information where reasonably required to verify a transaction or resolve a payment issue.
• This policy may be updated by Freight24 from time to time.
• Where a specific written commercial agreement provides different payment terms, the approved agreement will take precedence for that specific Client/Trucker arrangement.
• Any exception to this policy must be properly authorized and recorded in the Freight24 system.

27. Rate Tables To Be Finalized

Trucker Cancellation Compensation

NoteThe rate table for this section has not been published yet. Contact Freight24 for current rates.

Trucker Detention

NoteThe rate table for this section has not been published yet. Contact Freight24 for current rates.

Trucker Additional Charges

28. Policy Review

This Payment Policy should be reviewed periodically by Freight24 Management and updated when required based on operational experience, commercial requirements, accounting practices, or applicable legal/tax requirements.