Payment Terms and Conditions

Payment Terms: Payment terms are Net 30 Days with credit approval from the invoice date. The invoice date is specified on the invoice document provided is considered the date the product ships.

Accepted Payment Methods: Payments can be made via ACH bank transfer, credit card, company check or other agreed upon methods. We impose a surcharge of 2.99% on the transaction amount on Visa, Mastercard, Amex and Discover credit cards which will not be greater than our cost of acceptance.

Late Payment Penalty: If payment is not received in full within 30 days from the invoice date, a late payment penalty of 2.5% will be applied to the invoice amount. If payment is not paid in full within 60 days, the late penalty will double for a total of 5% of the invoice amount.

Interest on Overdue Payments: Interest will accrue on overdue payments at a rate of 12% per annum, calculated daily from the due date until full payment is received. This interest is in addition to the late payment penalty and will be calculated based on a 365-day year.

Dispute Resolution: Any disputes regarding the invoice must be communicated in writing within 15 days of the invoice date. Failure to notify within this period will be considered acceptance of the invoice and the amount due. Disputes raised after this period will not be entertained, and the full amount will be considered payable.

Collection Costs: In the event of late payment, the customer agrees to pay all costs of collection, including reasonable attorney's fees, court costs, and any other expenses incurred by the TechEx Team in pursuing payment

Security Interests: The TechEx Team reserves the right to retain ownership of the goods supplied until full payment has been received.

Right to Suspend or Terminate: The company reserves the right to suspend or terminate services, withhold future deliveries, or cancel any pending orders if payment terms are not met. The company may also demand immediate payment of all outstanding invoices if the customer's financial condition becomes unsatisfactory.

Governing Law and Jurisdiction: These terms and conditions are governed by and construed in accordance with the laws of Michigan. Any disputes arising under or in connection with these terms shall be subject to the exclusive jurisdiction of the courts in Wayne County.

Contact Information: For any inquiries or disputes regarding invoices or payment terms, please contact the TechEx Team. Reach Ted Cullinan at 313-310-0100 ext. 3110 or email tedc@techexteam.com.