POOL & ELECTRICAL PRODUCTS, INC TERMS AND CONDITIONS

STANDARD TERMS

Our standard terms are NET 30. This means the invoices are due 30 days from the invoice date. To avoid a past due credit history, pay within 25 days from closing date. COD means items are paid for at time of purchase.

OVER CREDIT LIMIT CREDIT CUSTOMERS ONLY

Your account has been set at the credit limit that we feel is appropriate according to the information given on the credit application. If you exceed your credit limit, you will need to pay for material as C.O.D. until we can review your credit application in order for us to further extend your credit.

PAST DUE ACCOUNTS

Accounts that become 30 days past due are subject to a service charge of 1 1/2% per month (18% per annual), or at seller’s option, up to a maximum rate permitted by law. Payments are credited first to unpaid late charges and second to the oldest outstanding balance. Pool & Electrical Products, Inc. reserves the right not to extend further credit to accounts that are not current with the terms. It is important that you make your payments in a timely manner to insure that your credit history is not affected in any way.& All accounts that become past due (past 30 days) will automatically go on CREDIT HOLD. The account becomes a C.O.D. account, until payment arrangements are made. No further credit will be extended until balance is paid in full. If you should incur any financial difficulties at any time, please make us aware right away, so that we may come to some type of financial payment agreement. Customer does hereby grant PEP a security interest in the products until such time as PEP is fully paid. If customer is in default for non-payment, then in addition to other remedies, customer agrees to reimburse Pool & Electrical Products, Inc. all costs of collections, including reasonable attorney’s fees and court costs.

DISPUTES

The parties agree that any action involving a dispute under this agreement may be brought in the state of federal courts located in any of the following. Seller (PEP)

State of California and hereby consent and submit to Jurisdiction of those courts. Suit may be brought in San Bernardino County, California or Riverside County, California at seller’s option

State of Texas and hereby consent and submit to Jurisdiction of those courts. Suit may be brought in Bexar County, Texas at seller’s option.

State of Arizona and hereby consent and submit to Jurisdiction of those courts. Suit may be brought in Maricopa County, AZ at seller’s option.

RETURN CHECKS

There will be a $55.00 service fee for any returned checks from the banks. Our agency, without further notice, or Pool & Electrical Products, Inc. may deposit any returned check electronically.

AUTHORIZED TO CHARGE ON ACCOUNT

Notification authorized purchasers to charge on your account must be done in writing and submitted to PEP. If your company requires a P.O.to be used, please be sure to note that information. Pool & Electrical Products Inc. has the right to refuse to sell product to anyone who is not authorized on your account.

SPECIAL ORDERS

All Special Orders are nonreturnable and nonrefundable. Special order's require a nonrefundable deposit. Non-Stock or Special Order items will need to be purchased from our Supplier, shipped in and are subject to additional inbound shipping cost to you. Special Orders will have to have a signed form from customer agreeing to the Terms & Conditions of the Special Order. A deposit is required prior to placing the order.

NON-STOCKED ITEMS

Non-stocked items are subject to our Special Order conditions as stated above. Non-stocked items brought into a branch for a customer and then refused by the customer is subject to a 25% restocking fee and your deposit is non-refundable.

CREDITS/RETURNS

All returns are subject to a 25% restocking fee and/or handling fee. All material will be inspected upon return. Credits will not be issued until the inspection is completed by Pool & Electrical Products Inc. Returns will not be accepted after 30 days from date of invoice. All returns must be accompanied by a Returned Merchandise Authorization form or number provided by Pool & Electrical Products Inc.

DELIVERY

Will call is preferred at the branch where your order has been placed. PEP does have a truck to make deliveries but your order must meet the minimum requirement of $250 in order to have your order delivered to you or to the address you have requested. Branches can only deliver within their designated delivery zone. Any deliveries outside of the local branches designated delivery zone would be made at PEP discretion. All additional fees will be applied. Any third-party shipping designated to ship your package you are responsible for those charges and will be expected to be paid prior to delivery for COD accounts. If you have a term account the shipping charges will be added to the purchase and will be expected to be paid when the invoice is due.

SHIPMENT INSPECTION

It is the customer’s responsibility to inspect the shipment when received prior to signing for it. I.e. UPS, FEDEX, USPS and freight carriers. If you received a damaged shipment upon inspection, you need to refuse the shipment to the carrier prior to signing for the shipment. When you refuse the shipment to the carrier, you must notify Pool & Electrical Products Inc. By signing for the shipment, you the customer are accepting responsibility for that shipment and it was received in good condition. DAMAGE CLAIMS All claims must be reported to Pool & Electrical Products Inc. within three (3) days of refusing the product.

WARRANTY

The applicant’s sole and exclusive warranty, if any, is that provided by the Product’s Manufacturer. SELLER MAKES NO EXPRESSED OR IMPLIED WARRANTIES. SELLER HEREBY DISCLAIMS ALL EXPRESSED OR IMPLIED WARRANTIES, WHETHER IMPLIED BY OPERATION OR LAW OR OTHERWISE, INCLUDING WITHOUT LIMITATION ALL WARRANTIES OF MERCHANTABILITY AND FITNESS OR FITNESS FOR A PARTICULAR PURPOSE. UNDER NO CIRCUMSTANCES, WILL SELLER BE LIABLE FOR INCIDENTAL, PUNITIVE, SPECIAL OR CONSEQUENTIAL DAMAGES OF ANY KIND.

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