payment terms

1. Late Payment Charge:

A late payment charge of 1.5% per month (18% per annum) will be assessed on invoices not paid within the agreed credit terms. Late payments are defined as payments either postmarked or electronically sent the day after the due date.

2. Initial Charge Addition:

The 1.5% charge will be added to the invoice on the first day after the payment is due if the payment has not been received.

3. Subsequent Charges:

Additional 1.5% charges will be assessed on the same calendar day each subsequent month until the open balance is paid in full.

4. Example Calculation:

For accounts under NET-30 terms with a $10,000 invoice due on March 1st, if payment has not been received by March 1st, on March 2 a $150 late charge (1.5%) will be added to the balance due (new open balance is $10,150). If payment is still not received by April 1st, $152.25 (1.5% of the $10,150 open balance) will be added to the balance due ($10,302.25 new open balance). The 1.5% fee will be charged monthly until the open balance is paid in full.

5. Contact Information:

For inquiries regarding payments or to discuss payment arrangements, please contact our Accounting Department at accounting@corecans.com or call 916-244-6090.

Thank you for choosing Core Cans.