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425-226-4594

 

Terms of Sale

 

 

  

Last Revised:9/12/2014

I. POWELL INDUSTRIES INC.,STANDARD TERMS AND CONDITIONS

A. SALES POLICY FOR PRODUCTS

1. Wholesale Only

Powell Industries Inc., sells its complete offering wholesale to business customers, while also serving individuals.

2. Prices

Prices listed are wholesale, do not include freight, handling fees, taxes, and/or duties, and are subject to correction or change without notice. Market sensitive commodity products will be priced (where possible but not guaranteed) according to current market conditions. Customer should contact the local Powell branch for current pricing. Export orders may be subject to other special pricing. Powell reserves the right to accept or reject any order for any reason.

3. Sales Tax

Customer is responsible for payment of all applicable state and local taxes, or for providing a valid sales tax exemption certificate. When placing an order, customer shall indicate which products are tax exempt.

4. Payment and Credit Terms

Powell Industries accepts cash, checks, money orders, Visa, MasterCard, and American Express. For customers with established Powell credit, payment terms are net thirty (30) days from the date of shipment or pick-up of products. All credit extended by Powell to customer, and the limits of such credit, is at Powell Industries sole discretion, and may be reduced or revoked by Powell at any time, for any reason. As a condition for the continued extension of credit, customer agrees to provide Powell with current credit information. Powell reserves the right to charge a convenience fee for late payments. Powell further reserves the right to charge customer a late payment fee at the rate of three and one-half percent (3-1/2%) of the amount due for each month or portion thereof that the amount due remains unpaid, or such amount as may be permitted under applicable law.  Export orders are subject to special export payment terms and conditions. All payments must be made in U.S. dollars. Powell has the right of set-off and deduction for any sums owed by customer to Powell.

 

If customer fails to make payment within thirty (30) days of shipment or pick-up, or fails to comply with Powell Industries credit terms, or fails to supply adequate assurance of full performance to Powell within a reasonable time after requested by Powell (such time as specified in Powell Industries request), Powell may defer shipments until such payment or compliance is made, require cash in advance for any further shipments, demand immediate payment of all amounts then owed, elect to pursue collection action (including without limitation, attorneys’ fees and any and all other associated costs of collection), and/or may, at its option, cancel all or any part of an unshipped order. Additionally, customer, and each of its subsidiaries and affiliates, agrees to provide to Powell proper authorization necessary for Powell to request any financial information from third parties.

Customer agrees to assume responsibility for, and customer hereby unconditionally guarantees payment of, as provided herein, all purchases made by customer, its subsidiaries and affiliates. Each of customer’s subsidiaries and affiliates purchasing from Powell are jointly and severally liable for purchases with customer, and customer is also acting as agent for such subsidiaries and affiliates.

5. Security Interest

Customer hereby grants to Powell a first priority purchase money security interest and/or chattel mortgage in the products and any accounts receivable or cash from resale thereof until full payment is made to Powell Industries. Customer agrees to file, and it permits and authorizes Powell to file, any financing statements or other appropriate documents with its governmental authorities to perfect the validity, priority, and enforceability of Powell Industries lien or security interest.

6. Credit Balance

Customer agrees that any credit balance(s) issued by Powell Industries will be applied to customer’s account 
within six months of its issuance. IF CUSTOMER HAS NOT REQUESTED THE CREDIT BALANCE WITHIN SIX MONTHS, ANY REMAINING CREDIT BALANCE WILL BE CANCELLED, AND POWELL SHALL HAVE NO FURTHER LIABILITY.

B. FREIGHT POLICY

Prices stated are F.O.B. origin, freight prepaid to destination specified in the order. Powell may charge a shipping and handling fee, (which includes internal handling and related costs), on each order which is applied at time of order and reflected on customer’s invoice. Receipts for shipping and handling charges will not always be furnished. COD shipments are not permitted. Other terms and conditions may apply for other than standard ground delivery ("Other Freight Services"), including without limitation, expedited same day delivery, air freight, freight collect, export orders, hazardous materials, customer's carrier, shipments outside the contiguous U.S. or other special handling by the carrier. Any charges incurred for Other Freight Services must be paid by customer. Fuel surcharges may be applied. Title and risk of loss pass to customer upon tender of shipment to the carrier. If the product is damaged in transit, customer's only recourse is to file a claim with the carrier.

9. Product Return
Product returns, if not prohibited above, must be made within one (1) month from date of purchase, unless otherwise indicated. Customer should call the local Powell branch, or go to www.powellindustries.com for instructions. Returned product must be in original packaging, unused, undamaged, and in saleable condition. Proof of purchase is required in all cases. Product returns may be denied or made subject to restocking fees and other charges by Powell.