Payment terms shall be as set forth in Seller’s price quote or invoice. Buyer agrees to pay all invoices when due. A finance charge of 1.5% per month will be assessed on any past due balance. Buyer grants Seller a purchase money security interest in the products until such time as Seller is fully paid. Buyer will assist Seller in taking necessary action to perfect and protect Seller’s security interest. No products shall become a fixture by reason of being attached to real estate. Seller reserves the right to withdraw Buyer’s credit privileges and require advance payment or any collection costs, including reasonable attorneys’ fees incurred in collecting monies owed. Seller rejects any terms proposed by Buyer that would hold back any portion of the purchase price until a date later than due on the invoice. Buyer shall not be entitled to set-off any amounts due Buyer against any amount due Seller with transaction.
INSPECTION AND ACCEPTANCE
Claims for damage, shortage or errors in shipping must be reported within 48 hours of receipt of material. Buyer shall have 48 hours from the date Buyer receives any products to inspect such products for defects and nonconformance which are not due to damage, shortage or errors in shipping and notify Seller, in writing of any defects, nonconformance or rejection of products. After such 48 hour period, Buyer shall be deemed to have irrevocably accepted the products, if not previously accepted. After such acceptance, Buyer shall have no right to reject the products for any reason or to revoke acceptance. Buyer herby agrees that such 48 hour period is a reasonable amount of time for such inspection. Any merchandise found to be defective in workmanship or material will be replaced subject to manufacturer’s inspection and warranty.
