Payment Terms on Accounts
Companies may apply for an open account by filling out Precision Governor’s (PG) Credit Application Form, or by supplying credit information on their company’s letterhead to PG’s Accounting Department. Credit information supplied by the buyer, or by others on the customer’s behalf, shall become part of the Credit Application; companies providing false or misleading information may be summarily denied credit.
Terms are Net 30 days, US Dollars Only. All shipments are FOB Rockford, Illinois. All orders are shipped prepaid, COD, cash, wire-transfer, VISA or MasterCard, until an open account is established. If an international customer chooses to pay by wire transfer there will be an international handling fee of $40 to cover the bank charges. Any invoice that is past due will be charged late interest of 1.5% (18% annually).
In the event it becomes necessary for PG to file suit to enforce payment of past due invoices, company agrees to the venue of Winnebago County, Illinois. PG shall be entitled to collection of attorneys fees, court costs, and interest at 10% per annual or such legal maximum rate as is allowed, on all invoice amounts past due. The laws of the State of Illinois govern all purchase agreements.
Shortages or Damages
All claims for shortages, shipment errors, or non-compliance must be made within 15 days after the receipt of the shipment. PG’s liability is limited to the value of material on the invoice. Claims for other loss or damages are filed against the carrier involved in the specific shipment.
Anything being returned to PG must have a RMA (Return Materials Authorization) number assigned by PG prior to be returned to PG and it must be referenced on all the paperwork accompanying the return/repair. Items that do not reference the RMA number will not be processed. Do NOT return product using a Debit Memo. No product will be accepted for Credit after 30 days from the date of shipment (unless otherwise authorized in advance). Product must be shipped with freight prepaid.
Cancellations and Restocking Charges
Cancellation of any order must be approved by PG and will be on the terms that protect us from any loss. The restocking charge is 15% on all product returned with the minimum restocking charge of $25.00. Returns must be made within 30 days of receipt of product. The customer pays shipping expenses. All products are subject to factory inspection and must be in resalable condition to receive credit.
All Blanket Orders must be confirmed with a written purchase order, and include scheduled release dates. PG must agree upon any changes to the schedule or the quantity purchased, and a written “Change Order” must be processed to confirm such changes. Note: Blanket Orders are Non-Cancelable, Non-Returnable and unless agreed to in writing by PG, products must be shipped within 12 months of the Blanket PO date.
All PG products are warranted against defects in workmanship and materials, when used under normal operating conditions and when used in accordance with the factory’s specifications. The warranty is in effect for a period of one year. PG reserves the right to repair or replace the product. PG makes no warranty, expressed or implied, regarding the fitness, merchantability, design, condition, capacity, performance or any other aspect of the equipment, its material or workmanship.
Engineering or Technical Assistance
Technical assistance is available at no charge to help the customer in choosing PG products for a specific application. However, any selection, quotation, or application suggestion offered by PG, its’ representatives or distributors, are only to assist the customer, and in all cases, determination of fitness for purpose or use are solely the customers’ responsibility. While every effort is made to offer solid advice and to produce technical data and illustrations accurately, such advice and documents are for reference only, and are subject to change without notice.
All sales are made pursuant to the Terms and Conditions herein, and in lieu of any other expressed or implied terms, including but not limited to any implied warranties. Additional or different terms included in a company’s purchase order are expressly rejected.