Terms And Conditions
1. PERIOD – All invoices are payable in full within 30 days of the date of each invoice.
2. INTEREST – In the event of any invoice not being paid in full within the period of 30 days of its date, interest shall be payable at the rate of 15% per month on the amount outstanding from time to time until payment of the invoiced amount plus interest in full.
3. NO PENALTY – It is acknowledged and agreed that the rate and the method of calculation of interest represents a genuine pre-estimate of the loss likely to be sustained by B.J. Hanna & Sons Limited in the event of any invoices not being paid in full within 30 days of its date and the parties hereto represent to one another that the rate and the method of calculation of interest are not intended to be nor do they in fact constitute an unenforceable penalty.
4. RETURNED CHEQUE CHARGES – If any cheque is returned unpaid for any reason, a charge of $2,000.00 plus any applicable bank charges will be charged to your account.
5. FEES – If collection of amounts due on the credit account is placed in the hands of a collection agent or an Attorney-at-Law and/or if legal proceedings are taken to recover any amounts due, then all reasonable costs of collection, Attorney-at-Law’s fees, and court or other collection costs to the full extent permitted by law shall be charged to the credit account and shall be recoverable in the same manner as invoice charges and shall attract the same interest charges as invoice charges and such interest charges shall be calculated in the same manner as interest charges on invoiced amounts not paid in full within 30 days of the date of the invoice.
6. CLAIMS – Exchanges and/or returned goods must be accompanied by the original invoice within 14 days of the date of delivery. There can be no return of electrical parts.