HVAC Sales & Supply Co. Inc. is a wholesale distributor serving licensed dealers and contractors, service businesses and industrial, governmental entities and municipalities who have established wholesale accounts. We appreciate the customers we serve who recognize the value of credit and respect it by paying their bills when due. To them, we know that a firm credit policy is helpful in minimizing unfair competition. We welcome new accounts and will extend regular credit terms to them upon verification of reliability through personal and trade references.
We offer 3 types of accounts to fit your needs: Credit Business Account, C.O.D. Business Account, or Apartment (Multi-family) Account. A properly completed application, signed by the owner(s) or officers of your company and returned to HVAC Sales & Supply Co. Inc. corporate office, will initiate a prompt credit review and response. While credit references are verified, new customers may purchase under our cash purchase options.
Regular terms of sale - 1% 10th Prox Net 11th Prox
Invoices are processed and mailed weekly. We close our books and cut off our billing on the 25th day of the month (or the last business day prior to the 25th); purchases through that date will be included. Purchases made from the 26th through the end of the month are considered being billed the following month and subsequently will not be included in the current monthly statement. Statements of accumulated purchases and credits are mailed on or before the last day of the month. Each individual invoice will show terms of sale.
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Invoices become past due if not paid by the 11th day of the month following purchase. If still unpaid by the 10th day of the second month following purchase, the account is considered delinquent and terms will be changed to C.O.D and sales will only be made using one or our payment options defined above until the account is brought current.
Our statement for the month following most recent purchases will show an interest charge of 1.75% per month (21% annually) on any past due amounts. Payments will be applied first to the interest and then the oldest amount owing, so as to keep the account as nearly current as possible.
We allow a 15 day grace period before interest charges begin to accrue on past due invoices.
July purchases (made between June 26th and July 25th are Due Aug. 11th Discountable 1% Aug 10th, Net payable Aug. 11th, Past Due thereafter.
Interest charges begin to accrue after Aug. 25th (15 day grace period).
Over 30 days past due - Any account whose balance moves to over 30 days past due will require “specific credit department approval” for any orders to be released.
Over 60 days past due - Any account whose balance (or any portion) moves to over 60 days past due will have charge privileges suspended and only C.O.D. sales will be allowed until the account is brought back to current status.
Interest on past due calculated from Aug. 25th, will be added to the Sept. 25th statement.
We recognize that occasionally an amount may become past due for an unavoidable reason. If this should occur, please call our credit department to advise and discuss. Special terms may be considered. We hope these honest and objective statements of our credit policies show our sincere interest in providing our customers the best financial services that we are able, and that they will appreciate the necessity of adhering to the stated terms of sale. We appreciate your business and will work tirelessly to prove our value to you.
For questions reguarding our Terms of Sale, please contact us.