In consideration of Atlantic Coast Electric Supply permitting the purchase of materials to the undersigned company or entity ("Applicant") agrees to the following terms and conditions:
Atlantic Coast Electric Supply’s acceptance of any order is subject to credit approval by Atlantic Coast Electric Supply and, when applicable, Atlantic Coast Electric Supply’s manufacturer (including any party that provides Goods to Atlantic Coast Electric Supply for resale). Atlantic Coast Electric Supply reserves the right, upon notice to Buyer, to demand adequate assurance of due performance from Buyer and/or terminate this agreement without liability.
Buyer agrees to pay for all materials purchased from Atlantic Coast Electric Supply by the due date according to the terms of sale stated on each invoice. Payments are not contingent on Buyer’s receipt of payment from third parties. All accounts are due and payable at the remittance address shown on Atlantic Coast Electric Supply’s invoice. Payments may be applied by Atlantic Coast Electric Supply to any of Buyer’s outstanding invoices unless Buyer provides specific payment direction. Any prompt payment discounts offered on invoices may be taken only if the invoice is paid not later than the 10th day of the month in which it is due.
Service charge on past due amounts
As allowed by applicable law, Buyer agrees to pay service charges on all past due amounts. Interest shall accrue at 1½% per month on the past due balance, but not to exceed the highest amount lawfully allowed by law in the state in which this application is executed. Acceptance of any payment from Buyer without the accrued interest included shall not be deemed to be a waiver of such accrued interest.
Credit card payments
Atlantic Coast Electric Supply reserves the right to charge payment processing charges in the amount of 3% for payments made with a credit card. This is at the discretion of the company and will be communicated prior to payment being accepted and processed.
Costs of collection
Buyer agrees to pay all costs of collection, including reasonable attorney’s fees that Atlantic Coast Electric Supply may incur in connection with any effort to collect amounts owing to Atlantic Coast Electric Supply.
Buyer authorizes Atlantic Coast Electric Supply to obtain credit and financial information concerning the Buyer at any time and from any source. As often as Atlantic Coast Electric Supply may reasonably request, the Buyer will provide financial statements and such other financial information of the Buyer.
The law of the state in which the applicant’s Atlantic Coast Electric Supply branch issuing an invoice is located, without reference to its choice of law rules, governs the terms and conditions of sale.
Change of control
In the event of any change in character of ownership of the Buyer’s business by incorporation, addition of partners, by change in ownership of the corporation, or otherwise, Buyer shall immediately notify Atlantic Coast Electric Supply in writing at the address shown on the invoice, certified mail, return receipt requested. Atlantic Coast Electric Supply will rely on the information provided on the credit application until so notified of the change. Atlantic Coast reserves the right to do a credit review of the new controlling company.
Buyer is responsible for additional applicable shipping and handling charges, taxes and duties. Atlantic Coast Electric Supply shall collect applicable taxes unless Buyer submits a valid tax exemption certificate covering such Goods.
Title and risk of loss
Where Atlantic Coast Electric Supply delivers Goods directly (via vehicle or over its counter), title to the Goods passes to Buyer upon delivery and all risk of loss or damage after delivery is borne by Buyer. All other sales are F.O.B. point of shipment, and Buyer takes title and assumes responsibility for risk of loss or damage at the point of shipment for such sales. Claims for Goods damaged in transit are Buyer’s sole responsibility when not delivered by Atlantic Coast Electric Supply’s truck.
Atlantic Coast Electric Supply accepts returns of normal stock goods for 30 calendar days following shipment for exchange or refund if such goods are in their original cartons, unopened, undamaged, and unused; SUBJECT TO restocking fees equal to the greater of (1) the cost incurred by Atlantic Coast Electric Supply from its vendor as a result of the cancellation, or (2) 25% of the purchase price. Any goods which are not returnable to Atlantic Coast Electric Supply’s manufacturers are subject to a restocking fee of 100% of the purchase price.
Material breach of these Terms and Conditions is grounds for the termination of a purchase order or other contract of sale between the parties. In the event of any such breach, the nonbreaching party will provide the breaching party with written notice of the nature of the breach and the non-breaching party’s intention to terminate. If the breaching party does not cure the breach within 10 days of such notice, the non-breaching party may terminate the order; provided, that the breaching party shall continue its performance to the extent not terminated.
Use of goods
Unless specifically stated otherwise, Atlantic Coast Electric Supply does not guarantee that the Goods conform to any plans, specifications, or intended use. Buyer has sole responsibility to verify Atlantic Coast Electric Supply’s interpretations of plans and specifications, and it is Buyer’s sole responsibility to assure that Seller’s Goods will be accepted on any specific job. When Atlantic Coast Electric Supply offers substitute Goods on any proposal, Buyer is solely responsible for confirming their acceptability. Buyer is responsible for consulting the National Electric Code and/or any other applicable codes for approved installation procedures, precautions, and safety guidelines.
Delivery from manufacturers
Factory shipping dates are not within Atlantic Coast Electric Supply’s control and are estimates only. Manufacturers’ factory shipping dates given in advance of actual shipment are approximate and not guaranteed.
Atlantic Coast Electric Supply has no liability if its performance is delayed or prevented by causes beyond its reasonable control, including but not limited to, acts of nature, labor disputes, government priorities, transportation delays, inability to perform by its manufacturer(s), and any other commercial impracticability. In the event of such delay, the date of delivery or performance shall be extended for a period equal to the time lost by reason of delay.
Atlantic Coast Electric Supply passes to Buyer all manufacturer or vendor warranties for Goods purchased through Atlantic Coast Electric Supply.
Other warranties disclaimed
Atlantic Coast Electric Supply distributes but does not manufacture Goods, and therefore makes no independent warranties other than those specifically set forth herein. There are no other warranties, written or oral, express or implied. No implied statutory warranty of merchantability or fitness for a particular purpose applies. No repair of goods or other costs are assumed by Atlantic Coast Electric Supply.
Limitations on liability
Atlantic Coast Electric Supply’s and its manufacturers’ total liability related to any purchase governed by these Terms and Conditions, from the use of Goods furnished by Atlantic Coast Electric Supply, or from the information, advice, or services provided by Atlantic Coast Electric Supply is limited to the price of the Goods giving rise to the claim. Neither Atlantic Coast Electric Supply nor its manufacturers or vendors shall be liable for any special, incidental, direct, consequential, or penal damages (including but not limited to backcharges, labor costs, costs of removal, replacement, testing or installation, loss of efficiency, loss of profits or revenues, loss of the use of goods, downtime, cost of substitute goods, and third party claims).
Liability to buyer’s customers
Buyer assumes all liability for and agrees to indemnify and hold Atlantic Coast Electric Supply harmless against all claims for damages made by Buyer’s customers or end users which relate in any way to the Goods sold by Atlantic Coast Electric Supply.