Payment and Liability Policy

This Payment and Liability Policy (the “Policy”) applies to every paid service and every sale of goods by Bharat Atom Renewable Resources Energy Limited (“BARREL”, “we”, “us”) to a customer (“you”), including:

• orders placed with BARREL as seller on BARREL Shop (shop.barrel.energy);
• engineering, procurement and construction (EPC) and turnkey contracts, engineering and consultancy services, QA/QC supervision, and operation and maintenance (O&M) and annual maintenance contracts (AMC);
• equipment rental;
• subscriptions and licences for BARREL OS, BARREL PIP, the Project Manager and other software services;
• platform, listing, success and service fees charged to merchants, sellers, buyers and other users of the marketplace and exchanges.

Where you buy from a merchant on BARREL Shop (and not from BARREL), the payment terms between you and the merchant are those of the merchant’s order, read with the E-Commerce Policy and the Escrow Policy; this Policy then applies to the fees you pay BARREL for the platform.

If a signed contract, purchase order accepted by BARREL or order form contains different terms, those terms prevail over this Policy for that transaction. Otherwise this Policy applies in full. It should be read with the Invoicing Policy, the Refund and Cancellation Policy, the Equipment Rental Policy and the EPC Time Policy.

Contract

The signed contract, accepted purchase order, order form, subscription or rental agreement under which BARREL supplies goods or services to you, together with this Policy.

Contract Price

The total price payable under a Contract, excluding taxes, as adjusted by agreed change orders.

Fees

All amounts payable to BARREL under a Contract, including prices, charges, subscription and licence fees, rental, platform and success fees.

Invoice

A tax invoice, proforma invoice, debit note or statement issued by BARREL on its letterhead or through its portals, including e-invoices with an Invoice Reference Number (IRN) where required.

Due Date

The date by which an Invoice must be paid, as stated on the Invoice or in the Contract.

Milestone

A defined stage of work or supply on which a payment becomes due under the Contract.

Retention

A part of each payment that the customer may hold back, where the Contract allows, as security for completion and defects.

Payment Aggregator

An entity authorised by the Reserve Bank of India under the Payment and Settlement Systems Act 2007 to collect and settle payments for merchants.

Business Day

A day other than a Saturday, Sunday or public holiday on which banks are open in Pune.

You may pay BARREL only by the following methods:

BARREL does not accept cash for any Fees, and its staff are not authorised to collect cash, cheques made out to individuals, or payments into any personal account. A payment made in any other way is made at your own risk and does not discharge your obligation to BARREL until BARREL actually receives the money in its own account.

BARREL may refuse, or ask for further information about, any payment in order to comply with the Prevention of Money-laundering Act 2002, RBI directions and its know-your-customer checks.

BARREL issues Invoices in accordance with the Central GST Act 2017, the State GST Acts and the rules made under them, including e-invoicing and e-way bills where applicable. The Invoicing Policy explains invoice content, timing and corrections.

• Unless the Contract or Invoice states another period, each Invoice is due within 15 days of its date.
• Goods ordered on BARREL Shop from BARREL as seller are paid in advance at the time of order, unless BARREL has agreed credit terms in writing.
• Subscriptions to BARREL OS and other software services are billed in advance for each billing period (monthly or yearly, as chosen).
• Rental is billed in advance for each rental period, with any security deposit payable before dispatch, as set out in the Equipment Rental Policy.
• A payment is treated as made on the day the cleared amount is credited to BARREL’s account.

You must give BARREL correct billing details (legal name, address, GSTIN, place of supply and PAN) before the Invoice is issued. Corrections after issue are made by credit and debit notes as the GST law permits.

For EPC, turnkey, engineering and O&M Contracts, the payment structure is stated in the Contract. A typical structure is shown below for information only; the Contract prevails.

• The advance is the condition for BARREL to place orders and mobilise. The programme starts only when the advance is received (see the EPC Time Policy).
• A Milestone is payable when it is achieved, even if a later Milestone is delayed for reasons not caused by BARREL.
• Retention may be held only where the Contract allows it, and must be released on time. BARREL may replace retention with a bank guarantee of the same amount.
• Where a Milestone is delayed by the customer’s act, omission or failure to provide its prerequisites, the payment linked to it becomes due on the date the Milestone would otherwise have been achieved, or as the Contract provides.

All prices and Fees are exclusive of GST and other taxes unless expressly stated to be inclusive. GST is charged at the rate in force on the date of supply under the Central GST Act 2017, the Integrated GST Act 2017 and the State GST Acts. If a tax rate changes, or a new tax or levy is introduced, the change is passed on as the law allows.

• TDS. Where the applicable provisions of the income-tax law or the GST law require you to deduct tax at source, you may deduct it, but you must deposit it on time, file the returns correctly with BARREL’s PAN or GSTIN and issue the TDS certificate within the time the law sets. Until the certificate is received and the credit appears in BARREL’s tax records, the deducted amount remains payable by you.
• TCS by e-commerce operators. Where BARREL acts as an e-commerce operator for a merchant’s supply on BARREL Shop, it collects tax at source under section 52 of the Central GST Act 2017 and deducts tax under the applicable provisions of the income-tax law, and reports them in the merchant’s name.
• Customs and import duties on imported equipment are payable as stated in the Contract. If the Contract is silent, they are payable by the importer of record.
• Lower or nil deduction. If you hold a certificate for lower or nil deduction, send it before the payment is made.

If any amount is not paid by its Due Date, BARREL may, without affecting its other rights:

• charge interest at 18% per year (or the rate stated in the Contract), calculated daily from the Due Date until the date of payment, which the parties agree is a genuine pre-estimate of the cost of delay;
• recover reasonable costs of collection, including legal fees;
• withhold further deliveries, documents, warranties, test certificates or handover until overdue amounts are paid;
• suspend services as described in the clause on suspension for non-payment;
• extend the time for its own performance by the period of delay in payment, as set out in the EPC Time Policy.

MSME rights. Where BARREL, or a merchant supplying through BARREL Shop, is registered as a micro or small enterprise under the Micro, Small and Medium Enterprises Development Act 2006, the buyer must pay within the period that Act sets (no later than 45 days from acceptance or deemed acceptance), and delayed amounts carry compound interest at three times the bank rate notified by the Reserve Bank of India, as that Act provides. The supplier may also refer the dispute to the Micro and Small Enterprises Facilitation Council. These statutory rights apply in addition to this Policy.

If you believe an Invoice is wrong, follow these steps:

1. 1Write to contact@barrel.energy (subject line “Invoice dispute” and the Invoice number) within 15 days of the Invoice date, stating which items you dispute, why, and the amount in dispute, with supporting documents.
2. 2Pay the undisputed part of the Invoice by its Due Date. The disputed part is not treated as late while the dispute is being resolved in good faith.
3. 3BARREL acknowledges the dispute within 2 Business Days and gives its response within 15 days.
4. 4If BARREL accepts the dispute, it issues a credit note or revised Invoice. If it rejects the dispute, the disputed amount becomes payable within 7 days of the response, with interest from the original Due Date if the dispute was not made in good faith.
5. 5If the parties still disagree, the matter is escalated to senior management of both parties for 15 days, and then resolved under the clause on governing law and disputes.

An Invoice that is not disputed within 15 days is treated as accepted, except for errors that are obvious on the face of the Invoice, which either party may correct at any time.

You must pay all Fees in full, without set-off, counterclaim, deduction or withholding, except (a) taxes that the law requires you to deduct, (b) liquidated damages or retention that the Contract expressly allows you to deduct, and (c) amounts that BARREL has agreed in writing to credit.

BARREL may set off any amount you owe it under any Contract against any amount it owes you, including security deposits, retention it holds and refunds, after giving you written notice.

Fees are stated and payable in Indian rupees (INR) unless the Contract states another currency.

• Payments from outside India must be made through banking channels in accordance with the Foreign Exchange Management Act 1999 and the rules, regulations and directions made under it, with the purpose code and documents your bank and BARREL’s bank require.
• All bank charges, intermediary bank charges and currency conversion costs on your side are borne by you, so that BARREL receives the full invoiced amount. A shortfall caused by charges is invoiced as a balance.
• Where a Contract is in a foreign currency, the exchange rate risk lies with the party stated in the Contract; if it is silent, with the customer.
• Where an individual in India pays for goods or services from outside India, or remits abroad, the Liberalised Remittance Scheme and its limits apply to that individual.

• Verify every new or changed beneficiary by calling BARREL on the number published on the Websites, not a number given in the message.
• BARREL will never ask you for card numbers, CVV, UPI PIN, net-banking passwords or one-time passwords by email, telephone or chat.
• Check that the account name of the beneficiary is Bharat Atom Renewable Resources Energy Limited.
• Check that the portal you pay on is on the barrel.energy domain and that the Payment Aggregator page is genuine.

If you pay into an account that is not BARREL’s because you did not follow these checks, the payment does not discharge your obligation to BARREL, and BARREL is not liable for your loss. BARREL will cooperate with your bank and the authorities to help recover it. Report fraud to cybercrime.gov.in or helpline 1930 as soon as possible.

If you have a complaint about a card or UPI payment, please contact BARREL first so that it can be resolved under the Refund and Cancellation Policy.

• If you raise a chargeback or reversal for a payment that was properly due, BARREL may contest it with evidence of supply, and you remain liable for the amount together with any chargeback fees and costs charged to BARREL.
• While a chargeback is pending, BARREL may suspend the related service, account or delivery.
• A chargeback on a payment that is later found valid is treated as non-payment from the original Due Date.

If any undisputed amount remains unpaid 14 days after its Due Date, BARREL may give you written notice. If the amount is still unpaid 7 days after that notice, BARREL may, without liability to you:

• suspend work, deliveries, services, software access or support, in whole or in part;
• restrict your account on BARREL Shop, BARREL OS or the exchanges to read-only access;
• demobilise from site, with the cost of demobilisation and remobilisation payable by you and a corresponding extension of time;
• recover rented equipment as set out in the Equipment Rental Policy;
• terminate the Contract if the amount remains unpaid 30 days after the notice, and claim payment for work done, goods supplied, committed costs and its other losses as the law allows.

BARREL resumes performance within a reasonable time after all overdue amounts, interest and costs are paid. During a suspension of BARREL OS or other software, BARREL keeps your data for at least 30 days and lets you export it once the account is brought up to date or, if the Contract ends, as the Contract provides.

• Risk in goods passes to you on delivery at the agreed point (for example ex-works, at site or as the Incoterm or delivery term in the Contract states). From then you must insure and protect the goods.
• Title (ownership) in goods supplied by BARREL passes to you only when BARREL has received full payment for those goods, unless the Contract states otherwise. Until then you hold the goods for BARREL, must keep them identifiable and insured, and must not pledge them.
• If payment is not made, BARREL may recover goods to which it still holds title, and you allow access to your premises or site for that purpose, to the extent permitted by law.
• Rented equipment always remains BARREL’s property (or its lessor’s).
• Software is licensed, not sold. Title in BARREL OS and other software remains with BARREL; your data remains yours.

These rules apply subject to the Sale of Goods Act 1930, as amended.

To the extent permitted by law, and unless the Contract sets a different limit, BARREL’s total aggregate liability to you arising from or in connection with a Contract, whether in contract, tort (including negligence), breach of statutory duty or otherwise, is limited as follows:

Liquidated damages paid under a Contract count towards the cap. The cap applies to all claims together and is not a separate amount for each claim.

To the extent permitted by law, BARREL is not liable for any of the following, however caused and even if it was told they were possible:

• indirect, incidental, special or consequential loss or damage, within the meaning of section 73 of the Indian Contract Act 1872;
• loss of profit, revenue, income, tariff, savings or anticipated savings;
• loss of generation, loss of energy yield, deemed generation or curtailment losses, except where the Contract contains an express performance guarantee and then only as that guarantee provides;
• loss of contract, business, opportunity, goodwill or reputation;
• loss, corruption or unavailability of data, except to the extent caused by BARREL’s breach of its data security obligations, and then limited to the cost of restoring the data from backups;
• penalties, fines or charges imposed on you by a utility, regulator or counterparty under your own contracts, unless the Contract expressly makes BARREL responsible for them;
• losses caused by your failure to follow BARREL’s or the manufacturer’s instructions, by misuse, by repairs or changes made by others, or by your own breach.

Where a Contract provides for liquidated damages for delay or for shortfall in performance, the parties agree that the stated amounts are a genuine pre-estimate of the loss, within section 74 of the Indian Contract Act 1872, and not a penalty.

• Liquidated damages are the sole and exclusive remedy for the delay or shortfall to which they apply, and are subject to the cap stated in the Contract.
• They are not payable for any delay excused under the Contract, including delay caused by the customer, extension of time events and force majeure.
• Termination for delay is available only where the Contract expressly provides for it, for example after liquidated damages reach their cap.

The EPC Time Policy explains how delay is measured and how extensions of time are granted.

BARREL’s indemnity. BARREL indemnifies you against third-party claims, losses and reasonable costs to the extent caused by (a) death, personal injury or damage to third-party property caused by the negligence of BARREL or its subcontractors in performing the Contract, (b) a claim that software, designs or goods supplied by BARREL (other than items specified or supplied by you) infringe the intellectual property rights of a third party in India, or (c) BARREL’s breach of labour, safety or environmental law in performing the Contract.

Your indemnity. You indemnify BARREL, its directors, employees and subcontractors against claims, losses and reasonable costs to the extent caused by (a) death, personal injury or damage to property caused by your negligence or that of your other contractors, (b) any defect in land title, rights of way, approvals, designs, data or equipment that you provide, (c) your breach of law, including tax and regulatory obligations relating to your project, (d) content, data or listings that you upload to the Platforms, or (e) your breach of the Contract or this Policy.

1. 1The party seeking indemnity must notify the other promptly in writing of the claim.
2. 2It must allow the indemnifying party to control the defence and settlement, and give reasonable cooperation at the indemnifying party’s cost.
3. 3It must not admit or settle the claim without the indemnifying party’s consent, and must take reasonable steps to mitigate its loss.

An indemnity is reduced to the extent the loss is caused by the indemnified party’s own act or omission.

Insurance responsibilities are set out in the Contract. Where the Contract is silent, the following applies:

• For EPC and installation work, BARREL or its subcontractors arrange workmen’s compensation (employees’ compensation) cover for their workers and the insurance the Contract requires for the works, such as contractor’s all-risk or erection all-risk cover, from the date and for the value the Contract states.
• The customer insures its existing property, site and assets, and insures goods and completed works from the time risk passes to it.
• Marine and transit insurance follows the delivery term of the order.
• For rentals, the customer insures the rented equipment while it is in its custody, as set out in the Equipment Rental Policy.
• Each party bears the deductibles of its own policies and, where reasonably possible, procures that its insurers waive subrogation against the other party.

Statements in this clause describe who is responsible for insurance. They are not a statement that BARREL holds any particular policy at any time; on request, BARREL provides the certificates for the policies it has arranged for a Contract.

Neither party is liable for delay or failure to perform an obligation (other than an obligation to pay money that has already fallen due) to the extent it is caused by an event beyond its reasonable control that it could not reasonably have prevented or overcome, including natural disasters, flood, cyclone, earthquake, epidemic, fire, war, terrorism, riots, strikes not limited to the affected party’s workforce, acts or orders of government, change in law, prolonged grid unavailability, and failure of public telecommunications or hosting infrastructure.

1. 1The affected party notifies the other in writing within 7 days of becoming aware of the event, with details and its expected effect.
2. 2It takes reasonable steps to mitigate the effect and resumes performance as soon as possible.
3. 3The time for performance is extended by the period of the delay caused.
4. 4If the event prevents performance of a substantial part of the Contract for more than 90 consecutive days (or the period in the Contract), either party may terminate by written notice, and the customer pays for work done, goods supplied and committed costs up to termination.

The EPC Time Policy contains more detailed rules for projects, including monsoon beyond seasonal norms.

So that a claim can be investigated while the facts are fresh, you must notify BARREL in writing, with reasonable details, of any claim under a Contract within 12 months after you became aware, or should reasonably have become aware, of the facts giving rise to it. A claim about a defect must also be notified before the end of the defects liability or warranty period that applies to it.

Legal or arbitral proceedings remain subject to the periods under the Limitation Act 1963, as amended. Nothing in this clause restricts the time for enforcing rights in a way that section 28 of the Indian Contract Act 1872 does not allow, and it does not affect claims for fraud, wilful misconduct or death or personal injury, or a consumer’s statutory rights.

This Policy and every Contract to which it applies are governed by the laws of India.

1. 1The parties first try to settle any dispute by good-faith discussion between senior representatives within 30 days of a written notice of dispute.
2. 2If it is not settled, the dispute is referred to arbitration by a sole arbitrator appointed by agreement of the parties or, failing agreement, under the Arbitration and Conciliation Act 1996, as amended. The seat and venue of arbitration is Pune, Maharashtra, and the language is English. The award is final and binding.
3. 3Subject to arbitration, the courts at Pune, Maharashtra have exclusive jurisdiction, including for interim relief.

This clause does not take away the right of an MSME supplier to approach the Micro and Small Enterprises Facilitation Council, or the right of a consumer to approach a consumer commission under the Consumer Protection Act 2019.

BARREL may update this Policy from time to time by publishing a new version on the Websites. A change does not affect an order already accepted or a Contract already signed, unless the change is required by law or both parties agree.

Version 1.0, effective 10 November 2026.

For payment, invoice and account questions: Bharat Atom Renewable Resources Energy Limited, RH 11, Mayfair Eleganza - II, NIBM Road, Kondhwa Kh., Pune 411048, Maharashtra, India, email contact@barrel.energy, telephone +91 90755 77366. Please quote your Invoice, order or Contract number. GSTIN 27AASCM0958L1ZQ, CIN U35100PN2024PLC230800.

Grievance Officer: the person designated by BARREL from time to time, reachable at contact@barrel.energy (subject line 'Grievance') and +91 90755 77366, RH 11, Mayfair Eleganza - II, NIBM Road, Kondhwa Kh., Pune 411048, Maharashtra, India. The Grievance Officer acknowledges a grievance within 24 hours and resolves it within 15 days, or within any shorter time the law sets.