TERMS & CONDITIONS
Dear Valued Customer,
Surtronics appreciates your business, and we will continue to provide you with the highest quality service available. In our efforts to improve the management and efficiency of our business processes, we are implementing a new policy regarding payment of invoices.
In order to provide you with superior service, it is necessary for us to pay our obligations in a consistent and timely manner. We are unable to do this if our customers do not meet their commitment to pay us in a likewise fashion.
Our standard customer payment terms are NET 30 DAYS. This means that your payment is due 30 days following the invoice date.
We are aware that many of our customers have standard payment terms of NET 45 DAYS or NET 60 DAYS. We also understand that you need to have standard terms in order to control your cash flow; however, we are not in a position to absorb the additional cost to us that this incurs.
Customers requesting terms of other than NET 30 DAYS will be subject to a Non-Standard Terms Surcharge, as follows:
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TERMS
Net 45-60
Net 60-90
91-over
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SURCHARGE STRUCTURE
3.87% of Invoice Total Surcharge added to bill (non taxable)
4.62% of Invoice Total Surcharge added to bill (non taxable)
4.62% of Invoice Total plus 1.5% per month (18% APY) for any time beyond 60 days surcharge added to bill (non taxable)
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Any purchase of service not accompanied by a purchase order which clearly states the payment terms will be billed with terms of NET 30 DAYS, and subject to additional billing of the surcharges outlined above if payment is not received within that timeframe.
Yours Sincerely,
Surtronics Inc.
Angela Stanley, President/CEO
CC: Lee Bradshaw, General Manager
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