Terms And Conditions | Standard Supply

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CREDIT TERMS & CONDITIONS OF SALE

Standard Supply In consideration of the extension of credit by Standard Supply and Distributing Company, Inc. (hereinafter referred to as Standard Supply), the undersigned agrees: The information contained in this form is true and correct. All information will be treated as strictly confidential.

PAYMENT TERMS

To pay the balance of the account in full on the designated date following the date of purchase. Our terms are Net 30 Days. A delinquency charge will be charged on all past due invoices at the rate of 1.5% per month. State taxes will be charged on all materials purchased unless exemption certificate accompany this Agreement. Any account past due is subject to COD terms; and any account reaching its’ credit limit is subject to being placed on hold. To pay all reasonable charges for collection, including attorney fees and court costs, if the account is placed with an attorney or collection agency. That Standard Supply standard terms and conditions set forth on its invoices shall govern all sales to the undersigned.

VENUE

Any proceeding arising out of or relating to this Credit Agreement shall be brought in the courts of the state of Texas, Dallas County, or if it has or can acquire jurisdiction, in the United States District Court for the Northern District of Texas, Dallas Division, and Standard Supply and the undersigned irrevocably submit to the jurisdiction of each such court in any proceeding, waive any objection they may have now or hereafter have to venue or to convenience of forum, agree that all claims in respect of the proceeding shall be heard and determined in any such court and agree not to bring any proceeding arising out of or relating to this Credit Agreement in any other court.

PMSI (Purchase Money Security Interest)

To secure payment and performance of all obligations, the undersigned hereby grants Standard Supply a Purchase Money Security Interest in all inventory, equipment, and materials distributed by Standard Supply whenever sold, consigned, leased, rented or delivered, directly or indirectly, to or for the benefit of the undersigned by Standard Supply. This includes all construction related materials and services sold by Standard Supply including but not limited to heating and air conditioning, tools, safety accessories and related supplies (“Collateral”). The security interest extends to all repossessions, returns, and all proceeds from the sale, lease or rental; and all existing or subsequently arising accounts and accounts receivable, chattel paper, general intangibles, and supporting obligations which may from time to time hereafter come into existence during the term of this Credit Agreement. The undersigned authorizes Standard Supply to file financing statements describing the Collateral along with other notices and will assist Standard Supply in taking any other necessary action to perfect and protect Seller’s security interest. The undersigned agrees that all funds owed to or received by the undersigned from any source, resulting from the labor or material supplied by Standard Supply shall be held in trust for the benefit of Standard Supply. Applicant agrees to promptly pay to Standard Supply all such funds. Upon request, the undersigned shall irremovably assign to Standard Supply its accounts receivable from anyone to the extent that such is resulting from the labor or materials supplied by Standard Supply. To provide Standard Supply with a list of parties authorized to charge on the account

BUSINESS ENTITY CHANGES/UPDATES

The undersigned will inform Standard Supply within five (5) days by certified mail of any material changes in the information provided by the undersigned in this Credit Agreement or in my/our financial status or my/our interest or position in any partnerships or corporations which purchase materials from Standard Supply, as well as any employees who are terminated and no longer authorized to purchase on any account maintained with Standard Supply by the undersigned.

CREDIT INFORMATION RELEASE

Standard Supply is hereby authorized to investigate and verify any information provided in this Credit Agreement and inquire references or others as to ongoing credit worthiness and the undersigned agrees that this Credit Agreement and Standard Supply’s extension of credit to the undersigned are subject to continuous review and approval. The undersigned hereby authorizes any of the banks, financial institutions and/or trade references listed in this Credit Agreement to provide Standard Supply with any and all information requested and agrees to execute any release of information required by such entity and the undersigned agrees that Standard Supply may answer questions about its credit experience with the undersigned Limitation of Liability and Warranty Standard Supply is a seller/distributor of the good/products in question. Under NO circumstances shall Standard Supply be liable for any incidental, special, or consequential damages, including loss of revenue, loss of use of equipment, loss of facilities, or economic damages based on strict liability or negligence or any other theory of liability. Standard Supply shall NOT be liable for damage to property, other than equipment or material provided under this sale which was damaged in transit. Standard Supply shall NOT be liable to persons to the extent that Standard Supply’s negligent acts or omissions directly contributes to such injury or property damage. Standard Supply will pass on any available manufacturer’s warranty as written but does NOT provide any additional warranty(ies) for materials, products, or equipment purchased under this sale. The manufacturer’s warranty is given in lieu of all other warranties, whether expressed, implied, or statutory, including the implied warranties of merchantability and fitness for a particular purpose.

THE IMPLIED WARRANTIES OF MERCHANTABILITY AND THE IMPLIED WARRANTIES FOR SPECIFIC USE ARE EXPLICITY DISCLAIMED BY STANDARD SUPPLY.

Standard Supply’s obligation to repair or replace any defective parts during the warranty period shall be the Customer’s exclusive remedy against Standard Supply. Standard Supply shall NOT be responsible for labor charges for removal or reinstallation of defective parts, charges for transportation, handling costs, shipping costs, or refrigerant loss.

DELAYS

Delays caused by condition beyond the reasonable control of either party shall not be the liability of either party to this Agreement. CLAIMS Any suits arising from the performance or nonperformance of Standard Supply, whether based upon contract, negligence, strict liability or otherwise, shall be brought within one (1) year from the date the claim arose. SHIPMENTS All shipments shall be FOB shipping point, freight prepaid and allowed to the jobsite. Shipment dates quoted are approximate. Standard Supply does not guarantee a particular date for shipment and delivery.

NOTICE LETTERS AND LIEN RIGHTS

Standard Supply will have the right to file notices of nonpayment and file liens under the Texas State Property Code 53, Property Code 2253 (State) and Federal Property Code (Miller Act). Project Data Sheets (Job Sheets) are a requirement to establish any job account with Standard Supply.

RETURN POLICY

Stockable Items

Stockable items may be returned with no restocking fee within 30 days of original purchase date.
Stockable items returned after 30 days will incur a 25% restocking fee.
Returned stockable items must be: new, unopened, in original packaging, and in re-sellable condition.
Returned items will be inspected and are subject to approval by manager based on condition of item upon return.

Equipment

Equipment must be new and unused, never installed, in the manufacturer’s original packaging and condition, and in factory original re-saleable condition.
Equipment returns are subject to inspection and approval.
Non Standard Supply equipment dealers will be subject to a warranty processing fee of $100 for unit exchange/compressor failure and any other
warranty transaction will be subject to a $50 warranty processing fee.

Special Order/Non-Stockable Items

Special/non-stockable items may be returned if return of items is approved by original vendor/manufacturer.
Special order/non-stockable items must be returned within 30 days of original purchase date.
All applicable fees (freight or restock) incurred by Standard Supply by original manufacturer must be paid by the customer upon approval of return.
Returned items must be: new, unopened, in original packaging, and in re-sellable condition.

Warranty Items

Warranty returns must be returned to local branch within 30 days of replacement part purchase.
Customer is responsible for all fees related to the return of warranty/defective items to the manufacturer.
Approval of warranty return is subject to approval of warranty by vendor.
Failure to provide accurate information needed for warranty processing may result in warranty denial.
Standard Supply reserves the right to charge-back warranty items that are denied by vendor/manufacturer.