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AIS -
Standard Terms and Conditions of Sale
1. Title to all merchandise on open account shall remain in Seller until payment of the purchase price in full by Buyer. Where payment is made by check, title to the goods shall remain in Seller until checks are finally paid.
2. The Risk of Loss for any damages to or destruction of, the goods shall be upon Buyer from and after the time of delivery to the Buyer, or to a specified carrier for shipment to the Buyer.
3. Payment Terms. Payment shall be due no later than 30 days from and after the date of the invoice. For any payment withheld for any longer period, Buyer will pay interest at the rate of 18% per annum. (1.50% per month.)
Acceptance by the Seller of less than full payment and/or extension of the above mentioned credit shall not be deemed a waiver of any of the Seller's rights, nor shall such waiver of default be deemed as a waiver of any subsequent default.
Notwithstanding any provisions herein, the Seller does not intend or expect to charge, accept, or collect any interest greater than the highest legal rate which may be charged under applicable state laws: and if such rate of interest computed as herein above provided for, should exceed said maximum legal rate of interest, then said rate of interest shall be automatically reduced to such maximum legal rate.
4. Acceleration of Payment. If the credit of the buyer, in the
judgment of All Interior Supply, Inc. becomes impaired at any time, All Interior Supply, Inc. has the right to declare the entire balance of the account due and payable (immediately) and to require payment in advance before making any further shipments.
5. The Buyer assumes all risks and liability for the results obtained by the use of any materials delivered hereunder, or by the use of such materials in combination with other products. THERE IS NO WARRANTY BY THE SELLER THAT ANY OF THE MATERIAL HEREIN SOLD IS MERCHANTABLE, OR FIT FOR A PARTICULAR PURPOSE. SUCH GOODS ARE SOLD "AS IS". THE BUYER IS NOT RELYING UPON ANY REPRESENTATION, STATEMENT, OR ANY OTHER
ASSERTIONS WITH RESPECT TO THE NATURE OR QUALITY OF THE MATERIAL SOLD HEREIN. THE BUYER IS RELYING SOLELY UPON ITS EXAMINATION AND ITS TESTING OF SUCH MATERIAL.
6. If the Buyer retains the goods in his possession after receipt, without giving written notice to the Seller within 5 days after receipt that the goods do not conform with the terms of the contract, such failure to give notice shall constitute irrevocable acceptance of the goods by the Buyer, and he shall be bound to pay the price of the goods in accordance with the terms of the contract.
7. Returns. The Seller will accept returns of conforming goods only upon prior agreement, and such returns will be credited at invoice less 25% for
restocking.
8. Remedies of the Seller. If the Buyer fails to pay the price as it becomes due, the Seller may recover, together with any incidental damages, the price of goods accepted by the Buyer or the price of conforming goods lost or damaged after risk of their loss has passed to the Buyer.
9. Right of Resale. In the event of any breach or repudiation of or under this contract by Buyer, or any failure of buyer to comply with the provisions hereof, Seller may resell the goods covered hereby which have not already been delivered to Buyer, together with any goods reclaimed by Seller or as to which Seller may agree to accept return, at one or more public or private sales, at wholesale or otherwise, and recover from Buyer the amount by which the price established in this contract exceeds the amounts so received, together with all incidental damages occasioned by the default of Buyer.
10. Costs and Attorney's Fees. Should legal action be required by Seller to assert any remedy for breach or default by Buyer, Buyer promises to pay all costs of collection and reasonable attorney's fees, including costs and attorney's fees for appellate review.
11. SELLER'S LIABILITY FOR NON-CONFORMING GOODS (INCLUDING LATE-DELIVERED GOODS) IS EXPRESSLY LIMITED TO REPAIR OR REPLACEMENT OF THE GOODS OR REPAYMENT OF ANY SUMS PAID BY BUYER FOR THE GOODS. SUCH REMEDIES SHALL CONSTITUTE BUYER'S SOLE REMEDIES. SELLER SHALL NOT BE LIABLE FOR ANY CONSEQUENTIAL OR INCIDENTAL DAMAGES, AND ALL SUCH DAMAGES ARE HEREBY EXCLUDED.
12. The rights and remedies provided to Seller hereunder are cumulative, and are non-exclusive of any additional rights and remedies provided to Seller by law.
13. Entire Agreement. This agreement contains the entire understanding of the parties and is intended as a final expression of their agreement and a complete statement of the terms thereof, and shall not be modified except in writing signed by the parties hereto.
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