INVOICE TERMS AND
BETWEEN TRAFFIC TECH, HEREAFTER REFERRED TO AS THE "COMPANY" AND THE "CUSTOMER"
Unless otherwise stipulated on the invoice, the standard terms assigned to the Company’s customers are 30 days net from the date on the invoice. All charges are payable in the currency stipulated on the invoice. The method of payment is via check, electronic funds transfer, money order or credit card. Customers who wish to remit payment via credit card must obtain written approval from the Company and will be subject to all additional credit card or processing fees. Invoices not paid within terms will incur a late payment charge of 2% monthly (24% per annum). Overpayments and credit notes on accounts do not accrue interest and are not the responsibility of the Company to advise the Customer of such. In the event the Company retains an attorney or collection agency to collect unpaid charges, the party liable for payment will be responsible for all related costs and expenses incurred by the Company in attempting to recover monies owed. Such costs include, but are not limited to, lawyers’ fees, collection agency fees, interest and court costs.
All Customers are subject to credit approval. The company will perform a credit investigation based on the information provided at the time of enrollment by the Customer. The amount of credit, if any, granted to the customer is at the sole discretion of the Company. The invoice date commences the credit term cycle, and payment is due within 30 days of the invoice date, with exception of Mexico, where payment terms are Net 15 days from invoice date. The company reserves the right to deny service to any Customer whose account is not in good standings. On delinquent accounts, the Company also reserves the right to deny or withhold delivery of freight in transit to the consignee until acceptable payment amounts are received or alternative payment arrangements are approved.
The Company will act as the primary point of contact for all claims. To ensure timely processing and resolution, a Customer wishing to file a claim is required to notify the Company within 30 days of shipment receipt date. The company reserves the right to refuse any claim received after such time frame. The customer may not deduct any pending claim amounts from their account balance without written notification from the Company.