Mastel’s Credit Policy
1.) ACCEPTANCE. Use of charge account will constitute acceptance of this agreement. If this is a joint account, each party will be bound by this agreement.
2.) TERMS/PAYMENTS. In the 1st week of each month, Mastel Precision will send me a statement showing all unpaid and partially paid invoices and credit memos. Invoices for an order are sent at the same time the order is shipped. I understand that all charges are due within 30 days of the invoice date (unless arranged and extended by the credit department at the time of purchase). Accounts with balances 30 days past due will be placed on COD; accounts 60 days past due will be placed on hold (no purchases); accounts 90 days or more past due will be submitted to collections. Accounts 30 and 60 days past due will not be restored to original terms unless the account is paid in full before the 90 day past due date. Accounts sent to collections will not be restored to a credit status and will be restored to COD or Prepayment status only when the total amount due on the account is received.
3.) CREDIT CARDS. Mastel Precision accepts all major credit cards. Credit card numbers can also be used on the Loaner/Trial Agreements (contact Customer Service/Sales for information) in place of a deposit.
4.) EXTENDED CREDIT ARRANGEMENTS. If I desire an extended period of time in which to pay for purchases, I agree to contact the credit department and make the necessary arrangements prior to purchase.
5.) CHANGE IN TERMS. Upon prior notice to me, Mastel Precision may change the terms of this agreement. New terms will apply only to purchases made after the effective date of change.
6.) RESTOCKING FEES. I agree to pay for any restocking fees on merchandise returned. Product credit may be offered for returned merchandise provided: a. The product is returned to Mastel Precision within 30 days of the date of shipment to the customer (unless other-wise-agreed to in writing. b. The product is returned, by me, in its original case, and in the exact condition it was received. c. The product passes a mandatory inspection and can be returned to inventory. All items received after the due date of the invoice are subject to a 15% restocking fee. No credit will be issued for any item returned after 30 days from the date of invoice. If returned goods are damaged, paying the cost of the damage will be my responsibility.
7.) WARRANTY. Mastel Precision offers warranties on parts and labor against manufacturing defects. Reference Mastel’s Warranty Document (LD0002) available at https://mastel.com/policies-legal-documents/product-warranties/ for more details. Defects will be determined by Mastel Precision upon receipt of the item. All other
repairs will be the responsibility of me, the customer
8.) TERMINATION OF THE AGREEMENT. Mastel Precision reserves the right to terminate, at any time, with or without cause, my right to make further purchases under this agreement. Further, Mastel Precision has the right, if I become delinquent in payments on my account, to turn it over to a collection agency or an attorney at law for collection. I agree to pay reasonable collection fees, attorney fees, and other costs incurred in collection. Mastel Precision agrees to notify me of final demand for payment before the account is turned over for collection.