FINANCIAL TERMS & CONDITIONS
The following financial terms and conditions shall exclusively control the Buyer/Seller relationship between you (“Customer” or “Buyer”) and Hornet Cutting Systems, LLC (“Hornet” or “Seller”) with regard to payment for products and services purchased from Seller. These financial terms and conditions are incorporated into and are conditions for each purchase you make from Hornet. A signed purchase agreement, order, or acceptance of a quote by a Customer indicates Customer acceptance of these terms and conditions. Payment shall be made for all Customer purchases according to these terms and, if applicable, any additional terms set forth by Hornet, relating to product type or a separate sales agreement. Any additional or different terms and conditions imposed by Buyer are hereby refused by Hornet.
When payment is due. Hornet Customers who do not have credit terms shall prepay for parts, consumables, and services prior to orders being fulfilled and services scheduled and rendered.
Net 30 Customers. All Hornet Customers may apply for Net30 credit terms at any time by filling out Hornet’s credit application. Net 30 terms will be extended to all Customers who fill out Hornet’s credit application in its entirety and satisfactorily pass the credit application process with at least three positive vendor references and who remain in good payment standing with Hornet. Net 30 terms due not apply to machine payments, which are due upon receipt. Hornet may revoke, change, or eliminate Net 30 terms at any time and for any reason, with or without notice, for any or all Customers.
Accepted Payment Methods. Hornet accepts cash, check, credit card, ACH, and wire payments. Same day order fulfillment requires payment via cash, credit card, or wire. ACH and check payments take several days to process and may be used for Net30 payments, machine downpayments, or final payments, where the need for service or shipment of goods is not immediate.
Credit Hold. Net 30 Customer accounts with amounts past 60 days due will be put on credit hold until all past due balances are paid in full. Orders, shipments, and requests for service by Customers on credit hold will all remain on hold until all overdue balances are paid in full.
Late Fees. A $30 late fee will be charged to Net 30 customers who fail to pay within 30 business days of the date of invoice.
Interest. Accounts which have outstanding amounts over 60 days in arrears will be charged an interest rate of 1.5% per month on all overdue invoices.
Collections. Accounts which have amounts over 90 days in arrears will remain on hold and be referred to collections. Furthermore, the Hornet/Customer relationship will return to prepay only, and the Customer will no longer be eligible for Net30 terms.
Credits. Credit balances on any Customer account will first be applied to any outstanding account balance(s). Customer may request, in writing, that Hornet refund any part of a Customer’s remaining credit balance within seven (7) days of receipt of Customer’s written request. Hornet will make a good faith effort to refund to the Customer, by check, any part of the credit balance remaining in the account for more than twelve (12) months. No further action is required if the Customer’s current location is not known to Hornet and cannot be traced through the Customer’s last known address or telephone number.
Returns. Custom-made parts and some specialty parts are not non-cancellable and non-returnable. All returned orders are subject to a 15% restocking fee.