1) PRICE QUOTATION; ACCEPTANCE OF ORDERS:
Prices are stated on the face of CMI’s quotation, are in U.S. Dollars, and are exclusive of insurance, duties, tariffs, levies, shipping and any non-standard packaging costs. Unless otherwise specified, all quotations expire ninety (90) days after the date of the quotation. Buyer’s purchase orders shall be signed by Buyer and include a copy of these Standard Terms. All purchase orders become effective when accepted (a) in writing by CMI by its offices at Enfield, Connecticut or (b) by deemed acceptance upon CMI shipping the ordered Product. All accepted orders are non-cancellable and irrevocable.
2) TERMS OF PAYMENT; TAXES:
a. Unless otherwise specified, terms to customers of satisfactory credit are net thirty (30) days from date of invoice and are Ex Works Enfield, CT, freight prepaid and invoiced to Buyer. All Product sales are invoiced upon shipment. If, at any time in the exclusive judgment of CMI, the financial condition of Buyer does not justify commencement or continuance of production or shipment on the terms specified herein, CMI may require full or partial payment in advance, suspend its performance until such payment is made, and cancel Buyer’s order if such payment is not received by CMI within the time specified by CMI.
b. Buyer shall pay, or reimburse CMI for any and all sales, use, franchise, excise, value added, and similar taxes (hereinafter “Taxes”) of any kind on the product and services provided by CMI pursuant to these Standard Conditions, other than Taxes imposed on the net or gross income of CMI. Buyer may provide CMI with evidence satisfactory to CMI (such as a certificate of exemption) of Buyer’s exemption from the relevant taxes, provided that in all case, Buyer shall indemnify CMI from all assessments of Taxes, and interest and penalties assessed against CMI on account of or related to the sale hereunder.
c. If shipments are delayed by Buyer, payment shall become due from date CMI is prepared to make shipment. Products held for Buyer because of such delay in delivery shall be at the risk and expense of Buyer.
d. CMI, in its sole discretion, may invoice Buyer a late payment penalty of one and one-half percent (1.5%) per month on all undisputed amounts not received by the due date on the invoice. Buyer shall also pay on demand any costs incurred by CMI (including reasonable attorneys’ fees and legal expenses) in connection with the collection of any undisputed amounts due from Buyer to CMI which are not paid as agreed herein.