Terms and Conditions of Sale
Charge Sales: All invoices for goods and materials sold, and services performed by MK1 are due and payable on or before the 10th of the month next
following the month of purchase. Past due amounts will bear interest at the rate of 18% per annum (or the maximum rate permitted by law if said maximum legal rate is less than 18% per annum) from and after the date the amount is due and payable until paid. The said interest rate will be subject to revision as to current and future balances, from time to time, by notice from MK1 to Buyer as provided for in Article 5069-1.04(i), Texas Revised Civil Statues. In addition,
buyer shall be responsible and obligated to pay all costs, reasonable attorney's fees, and other expenses incurred by the seller in the collection and liquidation of buyer's past due charges.
Mechanics’ Lien: Buyer, as an inducement to seller to sell and deliver the items agreed upon, hereby expressly represents to seller that buyer has not done and will not do, either directly or indirectly, anything whatsoever which has, or will have, the effect of releasing, waiving, or surrendering the Mechanics’ Lien rights of seller to the property to be improved. No Waivers of Lien for materials shall be required of seller until the same shall have been fully paid for. Upon demand by seller, buyer shall be obligated to immediately furnish seller with all necessary legal descriptions and all other relevant information necessary for seller to perfect a Mechanics’ lien. Buyer agrees to pay for all court costs recording fees, reasonable attorney's fees, and other expenses incurred by seller in securing seller's Mechanic's Lien rights in the event of default by the buyer to pay according to the terms stated in Paragraph 2 hereof.
Delivery: Buyer shall have an agent on the job site to receipt for all materials. In case of agent absence, seller may, at its option, deliver the same, and the driver's signature and statement in writing as to articles so delivered shall be conclusive evidence of delivery of said articles. All materials when delivered and/or receipted for shall become the sole responsibility of buyer thereafter and all risks of loss shall be transferred to buyer. Seller shall not be liable and shall have no responsibility in connection with goods or materials placed in or upon buyer's vehicle, even if seller loads or helps load materials in or upon buyer's vehicle. Buyer hereby waives any and all claims, demands, or rights in connection with losses or liabilities that may arise out of loading materials in or upon
Materials Returned: Unless due to seller’s error, no materials are to be returned or credit allowed without seller's prior authorization. Authorized returns in good condition are credited at invoice price less 20% to cover handling and service charges and expenses. Special ordered non-stock merchandise may not be returned. All return’s purchased on credit must be accompanied by a purchase receipt.
GUARANTEES AND WARRANTIES: SELLER GUARANTEES AND WARRANTS TO BUYER THAT ALL GOODS AND MATERIALS SOLD HEREUNDER ARE OF GOOD SOUND QUALITY, FIT FOR THE PURPOSE FOR WHICH THEY ORDINARILY ARE USED, AND WILL PASS WITHOUT OBJECTIONS IN THE TRADE UNDER THE INVOICE DESCRIPTION. THERE ARE NO OTHER WARRANTIES, EXPRESS OR IMPLIED, WHICH EXTEND BEYOND THOSE STATED HEREIN. ALL CLAIMS UNDER THIS GUARANTEE MUST BE IN WRITING AND RECEIVED BY THE
SELLER WITHIN ONE YEAR FROM THE DATE OF DELIVERY TO THE BUYER IN ORDER TO BE VALID. REMEDIES FOR BREACH OF THIS
EXPRESS WARRANTY ARE LIMITED BY THE SELLER, AT IT'S SOLE OPTION, TO (i) REFUNISH THE MATERIAL AS SUPPLIED WHICH HAS
BEEN FOUND IN BREACH OF THIS GUARANTEE, OR (ii) REFUNDING THE PURCHASE PRICE PAID FOR SAID MATERIALS OR GOODS UPON THEIR RETURN TO SELLER. SELLER SHALL NOT BE LIABLE FOR ANY CONSEQUENTIAL, INDIRECT OF INCIDENTAL DAMAGES OR FOR ANY AMOUNTS THAT EXTEND BEYOND THAT AFFORDED BY THIS GUARANTEE.
In consideration of the extension of credit granted by MK1, the undersigned does hereby unconditionally guarantee payment of whatever amount the Credit Applicant, named on the reverse side hereof, shall at anytime owe MK1 on account of goods and materials hereafter delivered, furnished, supplied or contracted for, whether said indebtedness is in the form of MK1 contracts, notes, bill or open account. This shall be an open and continuing guaranty and shall
continue in force notwithstanding any change in the form of such indebtedness or renewals or extensions granted by MK1 without obtaining any consent thereto, and until expressly revoked by contracted for prior thereto. The undersigned Guarantor further agrees to pay all expenses, including court costs and attorney's fees paid or incurred by MK1 in collection of any or all amounts owed it by the Credit Applicant of in enforcing this guaranty. This Guaranty shall be a continuing, absolute and unconditional guaranty of payment and shall be enforceable by MK1, Its successors and assigns.
All diligence in collection or protections and all presentment, demand, protest and/or notice as to anyone or everyone, of dishonor and default and of non-payment and to the creation and existence of any and all extensions of credit and indulgence hereunder are expressly waived.
The liability of the undersigned Guarantor(s) shall be joint and several, and independent of the obligations of the Credit Applicant, and a separate action or actions may be brought and prosecuted against any Guarantor whether action is brought against Credit Applicant and/or other Guarantors or whether Credit Applicant and/or other Guarantors be joined in any such action or actions. Payment from the Guarantor(s) of monies due and owing as a result of this guaranty agreement shall be due upon demand by MK1.