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Standard Terms of Sale
Prototypes:
- Prototypes and single piece orders will be paid up front as a deposit for production, utilizing the metal weight estimates quoted on the invoice.
- On completion of the prototype, the invoice will be adjusted to reflect the actual metal usage. If there is a discrepancy between the initial estimated metal weight, and the final metal weight we will either refund or collect (depending if we are over or under the amount of metal quoted) the remaining amount on your receipt of the prototype.
Large Orders:
- Once the prototype model has been accepted, a contract will be drawn for final production depending on your specific project. Generally goods will be delivered FOB.
- Customer will be required to either pay a deposit for production or obtain an L/C to guaranty payment.
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Methods of Payment & Payment Terms
Wire Transfer
- This is our preferred method of payment for prototypes. Details will be given on request.
Check/Money Order
- We do accept personal or corporate checks; however we will not begin production until after the checks have cleared. This can sometimes take up to 5 business days.
- Checks or money orders must be made payable in US dollars.
Credit Card
- We accept Visa & MasterCard through our company merchant account; however we cannot process transactions larger then 2,000 US dollars via this method.
Letter of Credit L/C
- L/C’s are sometimes utilized for larger orders with first time customers.
- Cost of L/C is the responsibility of the buyer
- By this method we accept thebank’s guaranty to pay us on conclusion of sale terms instead of a personal guaranty from our customers. Any international bank would be happy to explain in further detail as well as offer their rates for such a transaction. We recommend Citibank for this service.
- Following is a short description of the Letter of Credit process for people who are not entirely familiar with it:
- Letters of credit serve as a guaranty of payment from buyers to suppliers. They must be initiated by the party wishing to make payment for goods or services. This can be done through any international bank.
- After a letter of credit from a bank has been issued, the supplier sends the goods to the customer. (No payment is made for the goods before the goods are received and terms of the letter of credit are met).
- Once the terms specified in the letter of credit have been met, the bank pays the supplier the amount owed.
- Later the customer pays back the bank in terms the customer has agreed to with the bank. Typical fee’s can vary, but usually the bank will charge a flat fee for issuing the letter, as well as interest on the loan to the customer until the loan is paid back. The exact terms will vary based on whichever bank you use.
Payment Terms
Except in rare circumstances for the first large order with a customer we can offer terms only if guarantied by a Letter Of Credit from an international bank. As we proceed in business together we may become more flexible on this policy.
The Co-Managing Directors,
Noah Severs, Yannick Mandaba
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