The account will be an open account, with Term: Net 15
The terms of payment to PMI Performance Maintenance Incorporated are as follows:
- It is the responsibility of the customer to notify PMI of any change such as billing address, phone number, or ownership of company and/or account.
- The form showing items and/or service received and delivered to the customer is the official INVOICE. This indicates "Please Pay From Invoice". Please pay as indicated on the terms section (Net 15 days). The delivery slip serves as a Delivery Form and an Invoice.
- As a courtesy, a statement will be mailed to you no later than the 5th of the month. It is your responsibility to notify PMI if you do not receive your statement within a reasonable time.
- Payment should be received within the 15 net day period with a 5 business day grace period. It is strongly suggested that you contact the accounts receivable office in light of any discrepancy and/or any necessary variation from the 15 day net terms. If payment is not received within the term period, the account status becomes past due, it will incur a past due late fee and is placed on COD until the account is paid in full.
- Past due accounts will incur a $25.00 penalty fee for each month late in which the account remains past due.
- Any account that is 60 days past due will cease the sale of any goods or service until the account is paid in full.
- Any account that is 90 days past due is automatically closed and sent to collections and legal action will be taken to clear the account.*
- Any account that is closed after sixty days and is brought to a current status will be placed on COD until further notice.
- Any payment obligation of the business person, or persons, names on this application is herewith guaranteed by you, that guarantee shall continue as long as:
- Credit is requested by placing orders on this account
- Termination of your guarantee has to be a written notice.
- We will not share any of our client information.
- Purchase Orders are accepted.
- PMI will consider extended Net Term(s) on a case by case bases.
Such termination shall not change your personal liability for any credit, interest charges or fees arising from credit extended prior to our receiving notice of termination.
*You agree to pay all charges , interest, attorney's fees, court costs, including expert witness fees, and any administrative charges incurred in collecting this account.
You represent that you have authority to execute this agreement and all statements contained herein are true. This is made under the penalty of perjury.
This is the complete agreement of the parties. There are no verbal or other representations or warranties with respect to products and services purchases not contained herein. This agreement may not be modified, except in written form by both parties.