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NET 30 PAYMENT TERMS DETAILS

Payment and Credit Terms

For Business customers with established ReStockIt credit, payment terms are net thirty (30) days from the date of invoice. All credit extended by ReStockIt to customer and the limits of such credit, is at ReStockIt’s sole discretion and may be reduced or revoked by ReStockIt at any time, for any reason.

ReStockIt reserves the right to charge a convenience fee for late payments. ReStockIt further reserves the right to charge customers a late payment fee at the rate of one and one-half percent (1-1/2%) of the amount due for each month or portion thereof that the amount due remains unpaid, or such lesser amount as may be permitted under applicable law. Anticipation and cash discounts are not allowed. All payments must be made in U.S. dollars. ReStockIt shall have the right of set-off and deduction for any sums owed by customer to ReStockIt. If customer fails to make payment within thirty (30) days of invoice, or fails to comply with ReStockIt's credit terms, or fails to supply adequate assurance of full performance to ReStockIt within a reasonable time after requested by ReStockIt (such time as specified in ReStockIt’s request), ReStockIt may defer shipments, demand immediate payment of all amounts then owed, elect to pursue collection action (including without limitation, attorney’s 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. 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 ReStockIt will be jointly and severally liable for purchase with customer, and customer is also acting as agent for such subsidiaries and affiliates.

Security Interest

Customer hereby grants to ReStockIt, 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 ReStockIt. Customer agrees to file, and it permits and authorizes ReStockIt to file, any financing statements or other appropriate documents with its governmental authorities to perfect the validity, priority, and enforceability of ReStockIt’s lien or security interest.

Credit Balance

Customer agrees that any credit balance(s) issued by ReStockIt will be applied to customer’s account within one (1) year of its issuance. IF CUSTOMER HAS NOT APPLIED FOR OR REQUESTED THE CREDIT WITH ONE (1) YEAR, ANY REMAINING CREDIT BALANCE(S), WILL BE SUBJECT TO CANCELLATON AND RESTOCKIT SHALL HAVE NO FURTHER LIABILITY.

Standard Credit Terms

Standard Credit Terms are $1,000 with 30 days to pay. Credit is subject to ReStockIt’s credit policies as determined from time-to-time in its sole discretion. ReStockIt reserves the right to terminate this offer at its sole discretion.

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