Terms and Conditions
Establishing Credit with Rolled Steel Products
- Rolled Steel will consider the extension of credit to Applicant based on the information provided in this application and by other available sources. This application authorizes Rolled Steel to check Applicant’s credit background and contact all of Applicant’s credit references and sources. Applicant states and certifies that the information contained in this application is true and correct and that Rolled Steel may justifiably rely on the information provided by Applicant.
- Once credit has been approved, or in the event Applicant arranges to purchase products or services from Rolled Steel on other terms, Applicant agrees to pay any and all invoices, charges, fees, and costs which Applicant or any authorized person incurs on or for Applicant’s account. Unless Applicant notifies Rolled Steel in writing within five (5) days of any unauthorized use of Applicant’s credit or account, Applicant agrees that such use is authorized and Applicant shall be responsible for all such charges and use.
- Applicant agrees to deliver written notice of any error in any invoice or statement of account to Rolled Steel within ten (10) days after the date of the invoice or statement of account. The invoice or statement of account shall be deemed to be correct and accepted as rendered, unless Rolled Steel shall have received Applicant’s written notice to the contrary within the above time period. All sums owing Rolled Steel by Applicant shall be paid in accordance with the terms and conditions expressed on any written quotation signed by Rolled Steel or on Rolled Steel’s invoice. In the absence of an express statement of terms and conditions to the contrary, the terms of any transaction with Rolled Steel shall be Net 30 Days. Whether or not expressed in the quotation or invoice, all amounts not paid when due shall bear interest at the rate of one and one half percent (1.5%) per month.
- Applicant shall pay all costs and expenses incurred by Rolled Steel in connection with Rolled Steel’s attempts to obtain payment of any outstanding amounts, including fees charged by a collection agency or attorney, whether or not formal proceedings are brought to remedy Applicant’s breach of this agreement or to collect any amount due.
- This agreement shall be construed under the laws of the State of California. If legal action is brought to enforce this agreement or to collect any amounts due, the parties agree that (i) the place for performance of Applicant’s the obligation to pay shall be in the East Los Angeles Judicial District, (ii) the exclusive jurisdiction and legal venue for such action shall be Los Angeles County, California, and (iii) all parties hereby submit to the personal jurisdiction of such court.
- Upon Rolled Steel’s grant of credit to Applicant, the terms of this agreement shall govern any contradictory term contained in any other document, unless Rolled Steel’s president shall have expressly stated in writing to the contrary. The terms of this agreement may not be amended, revoked, or modified unless such amendment, revocation, or modification is executed in advance by Rolled Steel’s president.
TERMS AND CONDITIONS
Sales and Purchases
The following terms and conditions are made a part of this Order and are incorporated into the contract of sale between Buyer and the Company:
- The parties agree that the payment terms applicable to this order are C.O.D. unless otherwise shown on the Invoice by prior arrangement. Any payment not received by the company on or before the due date shall accrue interest at the annual rate of 18% until paid.
- Buyer and the Company agree that title to the goods shall at all times prior to receipt by Company remain in the Company. In the event Buyer fails to pay any amount due, Company is given the right to retake the goods without notice. Buyer agrees to indemnify and hold Company harmless from any damages, costs, or other expenses occasioned by such retaking. Company shall have the right to allow title to the goods pass to Buyer and pursue all other legal remedies available.
- Buyer hereby grants Company a security interest in and to the goods to secure payment of any amounts due pursuant to this contract. Company shall have the right to file all documents necessary or appropriate to perfect its security interest without notice to Buyer.
- Buyer agrees to assume all risk of damage or loss of the goods from any cause after delivery of the goods to Buyer. No claim shall be made for labor or damages resulting from Buyers use of materials.
- BUYER ACKNOWLEDGES THAT THERE ARE NO WARRANTIES OF FITNESS FOR A PARTICULAR PURPOSE OR MERCHANTABILITY, EXPRESSED OR IMPLIED, UNLESS EXPRESSLY SET FORTH IN WRITING. Buyer acknowledges and agrees that it has not relied on Company’s skill or judgment to select or furnish goods for any particular purpose.
- If Buyer accepts good tendered pursuant to this transaction, such acceptance shall be final and irrevocable. No attempted revocation shall have any effect. Seller agrees to replace defective or incorrectly processed material only when such material is provided by Seller. Seller shall have no responsibility for material or product manufactured or produced by Buyer or by others.
- Buyer represents that at the time it accepts the goods pursuant to this transaction, it is not insolvent.
- The place of performance of payment of amounts due under this contract shall be in the Huntington Park Courthouse of the Los Angeles Superior Court. Buyer agrees that jurisdiction shall lie exclusively in this judicial district and subject itself to the jurisdiction of such court.
- This transaction is governed by, and this contract shall be construed and enforced in accordance with, the laws of the State of California, excluding its conflict of laws rules to extent such rules would apply the law of another jurisdiction.
- Company shall not be liable for any delays in performance related to or caused by labor conditions, acts of God, casualty, fire, natural disaster, accident, act of government, war, terrorist event, shortages of material or supplies, delays or nonperformance by suppliers and other third parties of supplies or services, or any other cause beyond the control of such party.
- Time is declared to the essence of Buyer’s performance of this contract. No waiver by Company of any breach or default by the Buyer shall be deemed a waiver of any breach or default thereafter occurring.
- Prices are subject to adjustment to the Company’s schedule of prices in effect at the time of each shipment.
- Buyer agrees to reimburse Company for all expenses including reasonable attorneys’ fees and court costs incurred by Company as a result of Buyers failure to pay when due the amounts due or any other action arising out of or related to this Agreement, whether or not suit is commenced.
- Cancelled or returned items will be subject to freight charges plus a 20% service or restocking charge. Credit will be issued only after receipt and satisfactory inspection report as Company’s warehouse, Non-stock special order items are non-returnable.