PAYMENT & INVOICE TERMS
Customer will be charged the prices reflected in Valco-Tronics Inc current catalog or applicable promotional flyers. Customer may also find current pricing, and place orders at Valco-Tronics Inc. Web site (http://valcoelectronics.com).
Customer will pay all invoices pursuant to the payment terms established for Customer's account by Valco-Tronics Inc. Credit Team and will be subject to the following:
- Customer must allow two weeks for processing of all credit applications.
- All payments will be in U.S. Dollars.
- C.O.D. certified funds are accepted via bank-issued cashier's check or money order. Fulfillment and special order items are not available to Customer under these payment terms.
- C.O.D. company checks are accepted pending approval of a completed and signed credit application.
COMPANY CHECKS ARE NOT ACCEPTED WITHOUT CREDIT APPROVAL.
- Net terms are available pending approval of Customer's completed and signed credit application. For higher net term limits, Customer's current financial statements are required. All net terms are calculated from invoice date, which will be the date of shipment.
- Valco-Tronics Inc. reserves the right to hold all shipments on any Customer's account that becomes delinquent without authorization or liability for fees, chargebacks and/or penalties.
- Should Customer's account become delinquent, Valco-Tronics Inc. reserves the right to change the terms on the account to C.O.D. or prepaid terms. Such account may also be sent for collections, and Customer is responsible for all collection charges and attorney fees.
- Major credit cards are accepted, including Visa, MasterCard, Discover, and American Express. Such credit terms require a signed Credit Card Authorization on file and will only be accepted from persons authorized by the card holder to place such orders. Customers may use a debit card; however, use of a debit card may subject Customer to an authorization hold placed by the financial institution issuing the debit card. The release of any authorization hold is a matter between Customer and Customer's financial institution. Customer is responsible for understanding its particular financial institution policies regarding authorization holds and the specific effects on Customer's financials. Valco-Tronics Inc. will not be responsible for any fees or charges incurred as a result of Customer's use of a debit card and any resulting authorization hold.
- EFT and wire transfers are accepted. Valco-Tronics Inc. Credit Team may be contacted at 800-673-2244 for instructions. A $25.00 returned check charge will be assessed for any check returned for any reason.
- Payment for international accounts (outside the United States and Canada) will be via prepaid wire transfer only
- In addition to other rights provided by Valco Tronics Inc Standard Terms and Conditions or by law, Valco-Tronics Inc. reserves the right to cancel at any time without Customer's authorization and without any liability, charge, cost or expense to Valco-Tronics Inc. ,any unshipped purchase order, or portion thereof, should Customer become delinquent on its payment terms. Valco-Tronics Inc. may, based on the circumstances known at the time of nonpayment, contact Customer prior to suspension of shipments; however, this contact will be at Valco-Tronics Inc. sole discretion and is not a guarantee or requirement that such will occur prior to cancellation of purchase orders due to a delinquent account.
All net account invoices will be due thirty (30) days from invoice date, unless agreed to otherwise in writing by Valco-Tronics Inc. Credit Team.
In the event of a default, and if this account is turned over to an agency, attorney or third party for collection, Customer agrees to pay all reasonable attorney's fees, or costs of collection regardless of whether a lawsuit is filed. Collection expenses will be calculated at fifteen percent (15%) of the total amount due plus any attorney fees and costs.
Statements are rendered as of the last day of the month and will be sent postal to the Statement Email Address indicated on Customer’s Account Profile. If Customer would like to receive these documents in hard copy, a member of Valco-Tronics Inc. credit team may be contacted.
CHANGE OF OWNERSHIP
Customer understands that Valco-Tronics Inc. must be notified in writing and addressed to Valco-Tronics Inc. Credit Department or delivered via electronic mail to:email@example.com of any change in ownership or the name of the business under which credit is established. Customer agrees that any change in liability for any debts incurred to Valco-Tronics Inc. due to change in Customer's business process or form will not be effective against Valco-Tronics Inc. until Valco-Tronics Inc. receives actual notice of said change in writing.