TERMS AND CONDITIONS
PRICES – Prices are quoted based on best price practices and in accordance with market conditions. Prices are subject to change without notice, unless “notice of change” is negotiated in advance. Latest Metalworks reserves the right to make typographical and or clerical error corrections to Quotations, Sales Orders and their Acknowledgments at any time during the course of the related transactions. Unless a proper exemption certificate is furnished to Latest Metalworks all taxes shall be paid by the Buyer to our Company at the time of payment.
SURCHARGES – Surcharges imposed on Latest Metalworks by its suppliers at time of shipment shall be passed on to the customer. Such surcharged materials include but not limited to nickel, chromium, molybdenum, scrap, fuel and natural gas.
TERMS AND CONDITIONS OF PAYMENTS AND SUSPENSION OF PERFORMANCE – Terms of payment are COD unless a NET 30 term is granted in writing, starting from the date of the invoice. A 50% deposit is required for new customers on their first order and may be required on future orders at the discretion of Latest Metalworks. Latest Metalworks shall notify the customer if a deposit is needed prior to acceptance of a project**. Past due accounts will be subject to a 2% per month (24% APR) finance charge from the date of invoice. If any proceedings against the customer under any bankruptcy or insolvency law arise, Latest Metalworks may, at its election, require advance payment or cancel any unshipped order and require payment for any reasonable cancellation charges arising out of such cancellation. In all cases, title to the product remains with Latest Metalworks until full invoice balance is settled. The customer also agrees to pay for all fees including but not limited to professional, collection and legal fees involved in the collection of any unpaid balance.
Should Latest Metalworks at any time, during the course of the order or shipment, have reasonable doubt about the customer’s financial responsibility or liquidity, it reserves the right, without liability and without prejudice to any other remedies, to suspend performance, decline to ship, or stop any material in transit, until Latest Metalworks receives payment of all owed balances, whether due or not, including the receipt of a deposit for ongoing work.
PAYMENT TERMS FOR LATEST METALWORKS:
Term: Shall Latest Metalworks offer our Clients a payment Term of Net 30. This term will begin with the date of invoice and will continue for 30 days until the due date. Both the invoice date and the due date are shown on the QuickBooks invoice provided. If payment is not received by Latest Metalworks on or before the due date, a late fee of 2% of the total invoice will be automatically added to the invoice (representing a 2% per monthly finance charge (24% APR). Clients must take adequate steps to ensure that any delivery delay (mail, holidays etc) does not cause the payment to be received late.
**Deposit required quote: A 50% deposit will be required at the time of order to begin production. A deposit invoice will be emailed to you with payment instructions. This quote is valid for 30 days from the date of quotation. Quotes are based on market pricing and availability of material. We will do our best to hold pricing as long as possible; however, we cannot guarantee the price will remain the same at the time of purchase. There will be a 3% processing charge added to all payments over $2500 made by card.
DELIVERIES – Deliveries are FOB Murrieta unless otherwise negotiated or stated. Shipment schedules are approximate and Latest Metalworks shall not be made liable for any delays in delivery or failure to give notice or for any other failure to perform hereunder due to causes beyond the reasonable control of the Company. Such causes shall include, but not be limited to production schedules of the producing mills, unavailability of materials, labor disturbances, acts of God, the elements, transportation difficulties or causes which abnormally increase the cost of performance. Should shortages of Latest Metalworks supply occur for any reason, Latest Metalworks may allocate the material in such a manner and amount as needs determine. Acceptance by the customer of any goods shall constitute a waiver by the customer of any claim for damages on account of any delay in delivery of such goods.
PRODUCT QUANTITIES, TOLERANCES AND VARIATIONS – If an item is to be shipped direct from a producing mill, the producing mill may reserve the privilege of shipping over or under the ordered 2 quantity in accordance with established percentages, which will constitute full and complete shipment of the specified material. All goods shall be subject to tolerances and variations consistent with usual trade practices regarding dimensions, straightness, section, composition and mechanical properties. Normal variations in surface and internal conditions and quality shall also be subject to deviations from tolerances and variations consistent with practical testing and inspection methods.
CLAIMS AND INSPECTION – Materials must be examined by the customer immediately upon receipt to determine correctness of shipment as it relates wot quantity, size, length, dimensions and condition. Customer must not cut, fabricate or use material without such prior examination. If upon inspection by the customer, any goods received are nonconforming, damaged, visibly defective of if discrepant quantities, the customer must notate that on the delivery receipt. If goods are nonconforming or damaged when unpacking or customer intends to assert any claim against Latest Metalworks relating to the delivery, the customer must do so within 10 calendar days of receipt of goods. Latest Metalworks will not honor any claims for damages caused by the customer nor by any improper storage of the goods.
WARRANTY – Latest Metalworks warrants only that the goods conform to their description as stated, subject to tolerances and variations (see paragraph relating to Product Tolerances and Variances). LATEST METALWORKS MAKES NO OTHER WARRANTY, EXPRESS OR IMPLIED, AND SPECIFICALLY DISCLAIMS AND EXCLUDES ANY AND ALL WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.
LIMITATION OF LIABILITY – Customer’s exclusive remedy and Latest Metalworks only liability arising out of this contract, shall be replacement or repair of the goods, or credit of the purchase price paid by buyer, whichever such remedy Latest Metalworks shall select. If Latest Metalworks elects to repay the purchase price, customer must return the goods to Latest Metalworks immediately. Except for nonpayment by customer, any action arising out of this contract must be commenced within one year from the date of delivery. In no event will Latest Metalworks be liable for incidental or consequential damages.
TOOLS, DIES & FIXTURES – Unless otherwise expressly provided, any tools, dies or fixtures which may be developed for use in the production of the goods covered shall be owned by Latest Metalworks or any producing mill, as Latest Metalworks shall elect, even though buyer is charged in whole or in part for the cost of such tools, dies and fixtures.
PATENT INFRINGEMENT – If any goods are to be furnished to customer’s specifications, customer agrees to indemnify Latest Metalworks and its successors, against all liabilities and expenses resulting from any claim of infringement of any patent or other propriety right in connection with the production of such goods.
GOVERNMENT CONTRACTS – Unless otherwise expressly provided, buyer’s order has not been placed under a prime contract with the United States Government or a subcontract thereunder and none of the clauses contained in the Armed Services Procurement Regulations as presently in effect, are incorporated herein.
COMPLIANCE WITH LAWS – Latest Metalworks agrees that in our sale of these goods, Latest Metalworks will comply with all applicable federal, state and local laws, rules and regulations.
OFF-SET – You authorize us to apply payment of any monies that becomes due to us hereunder, any sums which may now or hereafter be owed to you by Latest Metalworks or by any subsidiary or affiliated company of Latest Metalworks.
AGREEMENT – The terms set forth herein constitute the sole terms and conditions upon which Latest Metalworks offers goods for sale. No other terms, conditions, or understandings, whether oral or written shall be binding upon Latest Metalworks, unless hereafter made in writing and signed by an authorized representative of Latest Metalworks. Latest Metalworks hereby specifically objects to any different or additional terms that may be contained in customer’s purchase order. Terms and conditions of this agreement are subject to change. Always refer to the latest online document at www.latestmetalworks.com.