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PAYMENT TERMS
Deliveries made after the last day of the month will be considered as having
been made as of the first of the following month. The invoice total is due net 25th
of the month following the month of purchase, and becomes Past Due if payment has
not been received by the last day of the month. A service Charge of (the maximum
allowed by law not to exceed 1.5% per month, 18% per annum) will be added to Past
Due Accounts, and if the account is placed for collection 25% Attorney's Fee plus
all expenses, including cost of liens and court costs, will be assessed to the account.
CREDIT APPROVAL
Orders are accepted subject to approval by the Credit Department. Delivery will
be withheld and shipment stopped on accepted orders if the available credit information
indicates doubt as to the customer's ability to pay in accordance with payment terms.
SELLING PRICE
Merchandise sold will be billed to the customer at the prices in affect on the
date of the sale unless a different firm price has been furnished to the customer
by written quotation. All non-stock and special purchase items will be billed on
an individual basis.
Prices will change periodically as the result of price changes by the manufacturers
and as a result of fluctuations in the cost of doing business. The prices are subject
to these changes without advance notice.
We reserve the right to refuse an order, or to bill at the correct price, if the
billing price is incorrect due to a clerical or mechanical error.
SPECIAL ORDERS
A minimum advance deposit of 25% of the selling price will be required before
orders will be placed for special merchandise.
RETURNED GOODS
Merchandise must not be returned for credit without authorization. Returned
goods found to have a manufacturer's defect, or goods returned due to an error made
by our personnel, or by the manufacturer, will be credited at the invoice price.
No consequential damage claims will be honored. If the cause for return lies with
the customer, specifier, or any source other than by us or our supplier, we will
attempt to minimize the customer's expense or loss, however we will assess a minimum
charge of 15% for rehandling the merchandise as well as any transportation or other
charges that may have been involved in the sale. Goods authorized for return must
be in like new, clean, saleable condition and in its original carton or packaging.
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WARRANTY
We make available to our customers the benefits of any warranty terms extended
by the manufacturer of that particular item and will aid the customer in obtaining
any recovery that may be due. We offer no warranty of any type on any item we sell.
We will not be responsible for, nor allow claims for, consequential damages, labor,
repairs, lost time, or costs of any kind incident to warranty problems beyond those
approved by the manufacturer, and no employee is authorized to modify this policy.
DELAYS
We will not be responsible for delays in delivery caused by any factors beyond
our control such as, but not limited to fire, strikes, riots, shortage of material,
transportation delays, delays by vendor, etc.
CANCELLATION OF ORDERS
Orders for other than regularly stocked merchandise are not subject to cancellation
unless the manufacturer has indicated a willingness to accept the cancellation or
return and the customer agrees to all expenses and charges incurred as a result
of the cancellation.
DELIVERY
When merchandise is delivered by our vehicle, delivery to the customer takes
place at the customer's receiving point. The customer must check for any visible
damage upon receipt and if any, notation should be made upon the delivery document
and our driver should sign the notation. Packaged goods must be opened and inspected
at once, and any concealed damage or shortages should be reported to us immediately.
Any materials for which Customer has been billed more that thirty (30) days shall
be deemed to have been received by Customer and in suitable condition, unless Customer
shall have notified Seller in writing prior to expiration of the thirty (30) day
period.
When merchandise is delivered by a common carrier or freight handler, the delivery
of the order will be completed at the point at which the signed bill of lading and/or
delivery receipt is accomplished. This usually occurs at the manufacturer's or shipper's
plant. At that point, the merchandise becomes the customer's property and responsibility.
If damages or shortages are determined at the time of delivery, notations must be
made on the delivery document and the delivering driver must acknowledge the notation
by signing his name under the entry. The customer must then promptly file a claim
with the carrier for whatever damages or shortages are involved. Packaged merchandise
must be opened and inspected at once. If concealed damages or shortages are discovered,
the customer must contact the carrier promptly and request an inspection and a written
report. This request must be recorded so that if the carrier fails to make an inspection,
this fact can be noted on the claim form.
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IN CONSIDERATION OF THE COBURN SUPPLY CO., INC., THE AMERICAN SUPPLY CO., INC.,
OR ANY OF ITS AFFILIATED DISTRIBUTORS (hereinafter called "Seller"), giving or extending
credit to applicant/s, I/WE, the undersigned guarantors, hereby give this continuing
and unlimited guaranty to Seller for payment in full, upon demand of any indebtedness,
interest, attorney's fees, and charges of whatsoever nature and kind, hereinafter
collectively referred to as indebtedness of applicant/s to seller now existing or
hereinafter arising.
I/WE, the undersigned, including guarantors, bind and obligate myself/ourselves,
heirs, successors and/or assigns, in solido, with said applicant for payment of
indebtedness, hereby waiving all notice and pleas of discussion and division.
I/WE, the undersigned, including guarantors agree that this continuing and unlimited
guaranty is absolute and complete, expressly waive acceptance and notice thereof
by Seller and the same shall remain in full force and effect, until written notice
of its discontinuance, but such discontinuance shall not affect my liability for
any indebtedness then existing.
I/WE specifically agree that this continuing and unlimited guaranty shall not be
in any way limited or restricted because of the monthly amount of credit requested
or any credit limit applicable to applicant's account.
I/WE agree that Seller may conduct a credit worthiness inquiry on any or all
applicants, guarantors, and anyone signing on behalf
of either and may be called upon to furnish to others credit information on
the undersigned. I/WE release and hold harmless Seller in such credit information
gathering and dissemination. Any false, misleading, or inaccurate answers herein
shall not act in any way to relieve or reduce the liability of guarantors.
I/WE, the undersigned, including guarantors, understand that this account is to
be paid according to Seller's terms of net 25, and I/WE realize that failure to
comply with Seller's payment terms or should any check be returned N.S.F. this will
subject this account to being placed on C.O.D. and any credit established could
be withdrawn. If Seller employs an attorney or collection agency for collection
of indebtedness the undersigned hereby bind and obligate themselves to pay attorney's
fees of not less than 25% of the amount of indebtedness due plus expenses and/or
any other amounts due in accordance with law. It is further understood that the
undersigned agrees to pay a service charge when the account becomes 30 days past
due of the maximum allowed by law not to exceed 1.5% per month, 18% per annum.
I/WE AGREE TO ALL OF THE TERMS AND CONDITIONS SET FORTH ON THIS AGREEMENT.
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