A. Deposit—A minimum 60% deposit or as otherwise stated in writing of the sale price is required on all orders with the remaining balance due as stated on the proposal to release the order for shipment. If payment is not received before ready ship date the shipment will be postponed until the balance is received. Buyer’s delays does not allow for extended credit payment terms. All products that are completed must be shipped within 10 days from manufacturing ready date if not a manufacturing storage fee may apply after the 10-day mark. Balance Due—The remaining balance on all orders is due upon receipt of invoice as stated on proposal. Invoice will be tendered on items prior to shipment and or delivery or are being held at customer’s request. Acceptance of delivery and sign off of bill of lading constitutes acceptance of the merchandise as delivered. No payment shall be withheld on any invoice because of a partial delivery of the entire order or outstanding punch list items. Credit—Credit terms of net 10 days from invoice date are available for accounts, on a case by case basis. Credit may be established upon submission and acceptance of a credit application with satisfactory references. The buyer agrees to pay a service charge of 1 1⁄2% per month (18% per annum or highest amount permitted by applicable law) on all past due balances outstanding.
Buyer agrees that (a) Time is of the essence of his performance of all obligations under this agreement; (b) Acceptance by seller of an partial or late payment or seller’s failure to object to any default shall not constitute a waiver of any default then existing or thereafter occurring;(c) SELLER MAKES NO EXPRESS WARRANTIES UNLESS THEY APPEAR IN WRITING SIGNED BY SELLER AND MAKES NO IMPLIED WARRANTIES OF MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE OR OF ANY OTHER KIND; (d) Buyer will keep all equipment and merchandise purchased hereunder insured in seller’s favor against the risk of fie, theft and accidental physical damage;(e) any credit statement or application made or presented to seller is true and correct.