Credit Terms and Conditions
TERMS AND CONDITIONS OF CREDIT ACCOUNT
For customers with approved credit, we extend open account terms and conditions consisting of the following.
- Buyer agrees that the individuals signing the application are authorized to bind the company to the terms and conditions of this agreement.
- Buyer authorizes us to contact Consumer Credit reporting agencies, all bank, credit and trade references herein to verify your credit standing with them and authorizes them to release said information to us.
- Credit will be granted when an application for a new account has been completed and signed by the customer, and approved by the credit department. A credit application will not be considered unless accompanied by a sale of at least $2,500.00. Submission of a credit application is not a guarantee of approval.
- Terms of sale: Net 30 days
- An account will be considered past due 45 days from invoice date. Invoices past due 45 days are subject to a two percent Service Charge equal to two percent of the delinquent balance per month.
- If it becomes necessary to effect collection, Buyer agrees to pay all cost of collection including actual court costs, agency costs and attorney fees.
- Buyer agrees to provide Seller with prompt written notice of any change in Buyer's name, address, ownership or form of business entity. Such notice should be emailed to firstname.lastname@example.org.
- Any discount rates given based on Cash/Terms pricing ARE NOT ALLOWED IF THE PAYMENT IS MADE WITH A CREDIT CARD OR DEBIT CARD.
- Terms agreement remains in effect for one year from date of approval. If a minimum of $10,000 is not purchased in the year, the credit account will be closed and a new application will need to be submitted with an initial sale of at least $2,500.00. If a minimum of $10,000 is maintained for the year, the account will auto renew.
- The credit limit may be increased or decreased at the Seller's discretion without written notice and without affecting any personal guarantees.