MIT Payment Terms and Conditions
All tax exemption documents must be provided in advance of purchase. If an invoice is created and no tax exemption has been provided, any taxes calculated must be paid to Morgan Industrial Technology, Inc.
Shipping and handling charges are added to ALL orders. MIT utilizes UPS shipping services. Some items require freight shipping.
Payment is due prior to shipment; credit terms are available. Approval of credit terms requires permission for MIT to perform a credit check. Financial records may be required. MIT's standard credit terms are Net30.
All prepay invoices must be paid within 10 days of invoice date. Any invoice aging 10 or more days is subject to being cancelled for non-payment.
Any invoice that exceeds the terms agreed upon by 10 or more days, will incur a finance charge of 12% annualized, compounded daily upon assessment at the end of each month. Unapplied credit memos will not reduce calculated charges. Please notify us of how to apply credit memos at earliest opportunity.
Unpaid balances may be assigned to external collections at the discretion of MIT. Any and all fees accrued in the collection effort will be added to the outstanding balance.
This agreement is to be governed by, construed, and interpreted in accordance with the laws of Missouri without regard to any conflicts of law doctrine, and the parties agree that jurisdiction is proper, and that venue shall be held in Christian County, MO.