Naimor, Inc. accepts cash, checks, money orders, Visa, MasterCard, and American Express. For customers with established credit, payment terms are net thirty (30) days from the date of shipment or pick-up of products. All credit extended by Naimor, Inc. to customer, and the limits of such credit, is at Naimor, Inc. sole discretion, and may be reduced or revoked by Naimor, Inc. at any time, for any reason.
As a condition for the continued extension of credit, customer agrees to provide Naimor, Inc. with current credit information and the latest annual financial statement within five (5) business days following request. Naimor, Inc. reserves the right to charges a convenience fee of 2.5% with use of credit cards for payments.
Naimor, Inc. further reserves the right to charge customer a finance fee at the rate of one and one-half percent (1-1/2%) of the amount due for each month or portion thereof that the amount due remains unpaid plus an additional fee of $35 for generating an updated invoice for each month the amount due remains unpaid, or such amount as may be permitted under applicable law.
Export orders are subject to special export payment terms and conditions: Customer assumes responsibility for, and unconditionally guarantees payment or reimbursement of, all applicable taxes, fees, licenses, import duties, and expenses. When placing an order, customer shall indicate which products are tax exempt. All payments must be made in U.S. dollars. Naimor, Inc. has the right of set-off and deduction for any sums owed by customer to Naimor, Inc.
If customer fails to make payment within thirty (30) days of shipment or pick-up, or fails to comply with Naimor, Inc. credit terms, or fails to supply adequate assurance of full performance to Naimor, Inc. within a reasonable time after requested by Naimor, Inc. (such time as specified in Naimor, Inc. request), Naimor, Inc. may defer shipments until such payment or compliance is made, require cash in advance for any further shipments, demand immediate payment of all amounts then owed, elect to pursue collection action (including without limitation, attorney fees and any and all other associated costs of collection), and/or may, at its option, cancel all or any part of an unshipped order. Additionally, customer, and each of its subsidiaries and affiliates, agrees to provide to Naimor, Inc. proper authorization necessary for Naimor, Inc. to request any financial information from third parties.
Customer agrees to assume responsibility for, and customer hereby unconditionally guarantees payment of, as provided herein, all purchases made by customer, its subsidiaries and affiliates. Each of customer’s subsidiaries and affiliates purchasing from Naimor, Inc. are jointly and severally liable for purchases with customer, and customer is also acting as agent for such subsidiaries and affiliates.