Geotech Credit & Invoicing Terms
Accepted Methods of Payment
- Cash
- Cashier Check
- Credit Terms
- Credit Card (3% fee may apply)
- Visa® – MasterCard® – American Express® – Discover® Card
- Company Check
Credit Terms
- Geotech’s current terms are 1%-10 Days/Net 30 as stated on each invoice.
- It is expressly understood and agreed that these terms are part of the contract between the parties and applies to all Invoices supplied by the Seller.
- It is agreed the buyer will pay all invoices within the stated terms.
- Geotech recommends and encourages our cash discount of 1% if paid within 10 days. Discounts do not apply to credit card payments.
- In the event of litigation, you agree to the jurisdiction and venue of the City and County of Denver, Colorado.
Late Payment Consequences
In the event your account is not paid according to these terms, you agree to pay a SERVICE CHARGE OF 1 1/2% per month on the principal balance during the term of the delinquency. All service charges must be paid.
If the account becomes more than 90 days delinquent and is placed in collection, you agree to pay all costs of collection including reasonable attorney’s fees and court costs.
Open Accounts
- Customers with an approved credit line will be extended 1% -10 Days/NET 30 terms.
- Customers more than 15 days past due will be put on shipping hold until account is once again current.
- Customers more than 30 days past due will lose their open account status and revert to credit card payment.
Returned Checks
Returned Check Fee
In addition to any other remedies available under the laws of Colorado, applicant agrees that returned checks will be assessed a $50.00 charge.
Product Repairs
RMA Required for Returns
Returned Merchandise will not be accepted without first contacting Geotech and obtaining a “Return Material Authorization” (RMA) number. All returns are subject to a 20% restocking fee.