Credit Terms

Updated: 9/3/2015

Last Updates:

1. Payment Discount: A discount of 2% will be granted to NET 30 customers who pay within 10 days of their invoice date.
2. Credit Card Payment: NET 30 customers will be charged an additional 2.5% if paying by VISA or Matercard and 3% if paying by American Express.
3. Deposit: Customers on newly approved credit will be required to place a 50% deposit on their first order totaling $5000 or more. Plastek Cards also reserves the right to require a deposit on any order

PAYMENT TERMS IF CREDIT IS EXTENDED

This Agreement is a contract between you (the “Applicant”) and Plastek Card Solutions, Inc. (“Plastek”). Whereas, Plastek is contemplating the extension of credit in the form of goods to Applicant; and Whereas, should Plastek agree to extend the credit to Applicant, Applicant agrees as follows:

1. Exemption from Sales Tax. Applicant does/does not possess a current Certificate of Exemption / Resale Certificate (“Tax Exemption Document”). If Applicant does possess the Tax Exemption Document, Applicant hereby attaches it as Exhibit “A”. In the event the Applicant does not provide a Tax Exemption Document along with this Credit Application, Applicant shall assume any and all tax liabilities assessed by local, state or federal government for Applicant’s order.
2. Order Deposit. Plastek requires first-time Applicants to place a 50% deposit on their first order totaliong $5,000 or more. Notwithstanding the foregoing, Plastek has the discretion to require a deposit on any order.
3. Payment Due Date. Applicant’s payment for its order shall be either NET 10 or 30 days from the invoice date, to be determined by the specific invoice issued. Plastek shall discount NET 30 Invoices paid within ten days of the invoice date by 2%. Finance Charges of 2% per month on outstanding invoices over 30 days from invoice date will be assessed.
4. Late Payments. Applicant’s failure to make timely payments shall be considered a material breach of this Agreement. In the event of Applicant’s breach, Applicant shall pay all costs of collection, including attorney fees and court costs. Any action to enforce this agreement may be brought in any court of competent jurisdiction in Los Angeles County, California. Plastek reserves the right to withhold the fulfilling of Applicant’s orders in the event Applicant’s account is delinquent.
5. Returned Checks. Returned checks will result in a $35.00 surcharge. Interest will continue to accrue on any unpaid balance while payment is being recovered.
6. Credit Card Payments. Plastek shall assess surcharges to all NET 30 Applicants paying by credit card. The surcharge rate is 2.5% for Applicants using Visa and Mastercard, and 3% for American Express.
7. Sales Quotations Not Binding. Applicant acknowledges that all sales quotations by Plastek are subject to change after review of credit application by Plastek.
8. Refunds. Refunds are not available after production has commenced. Design and set up fees are non-refundable.
9. Cancellation of Production. Product cancellations are not available once production commences.  Cancellations prior to the start of production may result in a $50.00 plate and film fee.
10. Returns. Returns are not accepted without prior written authorization from Plastek and must be accompanied by a Return Materials Authorization (RMA) number. Claims must be made within 10 days of receipt of the goods.
11. Risk of Loss. Risk of loss for any merchandise Applicant orders from Plastek transfers to Applicant upon Plastek’s delivery of such merchandise to the carrier. Cost to replace any lost or damaged goods as a result of the carrier’s mishandling shall be born by Applicant. Despite any such loss or damage, Applicant shall be liable for payment on the order resulting in the lost or damaged merchandise. Any claims for lost or damaged goods shall be made by Applicant directly to the carrier. All shipments are insured.
12. Indemnification. Applicant shall defend, indemnify and hold harmless Plastek, its affiliates, and its officers, directors, employees, and agents from any loss, damage, liability, claim, demand or cost (including reasonable attorneys’ fees) made or incurred by any third party due to or arising out this Agreement.
13. Limited Liability. IN NO EVENT SHALL PLASTEK’S LIABILITY ARISING OUT OF THIS AGREEMENT EXCEED THE FEES PAID TO PLASTEK DURING THE 12 MONTH PERIOD IMMEDIATELY PRECEDING THE EVENT THAT GAVE RISE TO THE CLAIM FOR DAMAGES. IN NO EVENT SHALL PLASTEK BE RESPONSIBLE TO APPLICANT FOR ANY LOST OPPORTUNITY OR PROFITS, COSTS OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES, OR FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR SPECIAL DAMAGES ARISING OUT OF THIS AGREEMENT, UNDER ANY CAUSE OF ACTION OR THEORY OF LIABILITY (INCLUDING NEGLIGENCE), AND WHETHER OR NOT PLASTK HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGE. THESE LIMITATIONS WILL APPLY NOTWITHSTANDING ANY FAILURE OF ESSENTIAL PURPOSE OF ANY LIMITED REMEDY. THE LIMITATIONS SET FORTH ABOVE SHALL BE ENFORCEABLE TO THE MAXIMUM EXTENT ALLOWED BY APPLICABLE LAW.
14. Force Majeure. Plastek shall not be responsible for any failure to perform its obligations under this Agreement if such failure is caused by acts of God, war, strikes, revolutions, lack or failure of transportation facilities, laws or governmental regulations or other causes that are beyond its reasonable control.