Terms of Payment
A Balmoral Lumber credit application must be filled out in full, and sent to our credit department for approval.
Subject to the approval of the seller's credit department, terms are C.O.D. If the customer establishes credit with the seller then the term is net 30 days, from the seller's invoice date.
All accounts with credit must give a signed visa authorization form for payment in case the cheque is not received in time to pay the outstanding invoices.
If any payment owed to the seller is not paid when due, it shall bear interest at 2% per month (24% annually, calculated monthly, will be charged on every balance which is past due.)
Seller shall have the right among other remedies either to terminate the agreement or to suspend further performance under this and/or other agreements with the buyer in the event that the buyer fails to make any payment when due.
Buyer shall be liable for the expenses, including attorney's fees, and court costs and employees costs relating to the collection of accounts.
All product sold by Balmoral Lumber and Millwork LTD will remain the property of Balmoral Lumber, until paid in full.
For settlement of delinquent or bankrupt accounts, we reserve the right to repossess any or all products.