General Credit Limit
Terms and Agreements with Summit Customs Brokers
Payment of Invoices
Invoices are due within 15 days of the invoice date. If the due date falls on a
Saturday, Sunday or statutory holiday, payment is due the next business day.
If a shipment arrives and the charges for that shipment will put your account
over your credit limit you must make arrangements to pay the amount over your
credit limit before we can release the shipment on your behalf. Your credit
limit will be reviewed periodically to ensure that it is meeting your needs.
If you disagree with the charges on an invoice you must notify Summit
immediately of the disagreement. Our Accounts Receivable department will ensure
that any problems are dealt with upon being notified. They may grant permission
for partial payment of the invoice until the dispute is settled.
Interest on Overdue Accounts
Interest will be charged on all invoices for which payment has not been received
within the agreed upon terms. The rate charged will be one and a half percent (1
1/2%) per month or eighteen percent (18%) per annum calculated on a daily basis.
A fee of $50.00 will be charged for all NSF cheques.
Summit may fax you statements showing your account balance periodically. If you
have sent payment you should indicate this on the statement and fax it back to
Summit with the cheque number, cheque date, and cheque amount.