1. Purpose

It is often necessary due to the nature and needs of Panoptic’s Clients, that they will have to change or cancel their travel plans at the last minute. While Panoptic understands that this is often an unavoidable and necessary requirement for the client, if often involves Panoptic having to undertake a large amount of pre-advance work and in many cases, Panoptic has already confirmed bookings for client expenses prior to the Task commencing.

In these instances, while Panoptic has as one of its core business practices, a willingness to assist the client with last minute travel plan changes and to keep upfront costs to a minimum, it is sometimes unavoidable, and Panoptic will need to seek reimbursement for costs and expenses when either:-

• • the expenses cannot be refunded (i.e. non-refundable bookings/expenses paid to third parties); or
  • Panoptic has already undertaken a considerable amount of resources in preparing for the Task

and will these costs will need to be recouped.

The Purpose of this Policy is to outline to both staff and clients of Panoptic, those costs that will reasonably be incurred to a client where any whole or part of a Task operation for a client has been cancelled (at the client’s request.)

2. Scope 

This Policy applies to Panoptic Clients, all contractors, Panoptic employees, temporary staff or any person who are in any way is undertaking activities in the Company’s business operations, and any other person who are notified that this Policy applies to them.

1. Policy

• •  Requirements for Deposits
    
    • For first time clients, we request an upfront 50% deposit, which is non-refundable, in order to secure the task. This amount will be calculated based on initial asset requests.
    • The remaining 50% (including any additional costs incurred during the task) will be invoiced at the completion of task.
    • After the first task is completed with a client, we revert to a 100% invoice on completion (unless specific large-scale expensive items/outlays are requested – in which case, we may request an upfront payment to assist with these expenses i.e. excessive accommodation, super yachts, private aircraft etc.)
  • Cancellation of Task
    
    • Where task (or any part of the task) is cancelled outside of 10 days leading up to the start date for the Task, the Client will be invoiced and must pay for all expenses incurred (that are non-refundable or unable to be cancelled) in addition to a 10% administration fee.
    • Where the Task (or any part of the Task) is cancelled within 10 days of the Task start date, then 50% of the overall task items cancelled (i.e. Panoptic’s estimated Fees as previously provided to the client) plus all expenses incurred that are non-refundable or unable to be cancelled, plus a 10% Administration fees (calculated on expenses only) will be invoiced and payable by the client.
    • Where task or any part of the Task is cancelled within 48 hours of the Task start date (or while Task is running), then 100% of the overall task items cancelled (i.e. Panoptic’s estimated Fees as previously provided to the client) plus all expenses incurred that are non-refundable or unable to be cancelled, will be invoiced and payable by the client.