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November 15, 2003 RE: Essex Office Credit Policy To Whom It May Concern:; I am writing to you for the purposes of setting forth Essex Office’s new credit policy. As you know, we at Essex Office have always worked to keep our clients informed of any changes. With that in mind, the current economic climate has necessitated a change in our credit policy. The following policy change will become effective on January 1, 2004 on all new purchases made: Payment Terms – You agree to pay for all purchases charged to your account. All prices contained in our quotes are in U.S. dollars and are subject to change without notice after thirty (30) days from the date of the quotation. Price will become fixed at the time a purchase order is accepted and acknowledged by Essex Office, Inc. A deposit may be required for all orders. The invoice presented at the point of sale constitutes the official bill of sale. Essex Office will send you a complimentary, customized record of open invoices each month. Payment is due 30 days from the date of the invoice. The invoice date shall be the date of shipment from either Essex Office, Inc. or Essex’s vendor (if drop shipped) as applicable. Accounts with unpaid amounts over 30 days from the invoice date shall be considered delinquent. Failure to make payment within 30 days will result in a finance charge of 1-1/2% per month or part thereof that the payment is late, or the maximum interest rate allowed by state law, if that maximum rate is less than 1-1/2% per month. Payments will be posted immediately upon receipt. An initial five day grace period will be allowed to account for shipping and mailing. Beyond that period, the finance charge will begin to accrue from the original due date. All new accounts must provide financial information including credit references. Credit card payment is available on a net due basis (no cash discounts will apply). Additionally, accounts with unpaid amounts over 120 days from the invoice date shall be subject to no further charges on account being allowed. Such accounts will be converted to Cash on Delivery Only accounts and thereafter all purchases must be accompanied by payment at the time of delivery. Furniture orders are subject to a 50% deposit and balance due upon delivery. Special circumstances may prevail. We regret that this policy has become necessary. It is our goal that Essex Office, Inc. continue to offer the best, fastest, and most economic service to our clients. Thank you for your business and continued support. |
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