GREAT LAKES COMPANIES

CREDIT POLICY

A.	Our terms of sale are Net 10 days. Amounts outstanding over 10 days from invoice date are considered past due.
B.	If payment is not received within 60 days from the date of invoice, the account will be placed on a HOLD BASIS. Incoming orders may be processed, depending upon past payment history and cooperation from the customer's accounts payable department in clearing all past due balances. Any customer with a balance over 60 days will not receive shipments until the account is brought under 45 days. Overdue balances shall bear interest at a rate of 1.5% per month after 30 days from the date of invoice.
C.	If payments are not made on a timely basis, the customer will place the open account status in jeopardy, and changes regarding the account status may be made by the Credit Department accordingly.
D.	Great Lakes Power reserves the right to regularly review payment history of all accounts and inform the customer of any necessary changes regarding the entering, processing or shipping of orders. All necessary changes involving an account status will be made at the discretion of the Credit Department.
E.	If for any reason checks issued by any customer are returned protested by the bank, the protested check must be replaced with a cashier's check or money order ONLY and will include a $20.00 processing fee for NSF checks, and be received in our office within 5 working days of notification. Any account having an outstanding protested check will be put on a HOLD BASIS until the replacement check has been received. Any account having a record of two returned protested checks will be put on a CASH ONLY BASIS requiring all future payments to be in the form of a cashier's check or money order ONLY.
F.	In the event it becomes necessary in the view of Great Lakes Power to place the account with an outside collections agency or attorney, the customer will be required to pay all costs of collection including reasonable collections or attorney fees. Once the total obligation has been fulfilled, the account may be reviewed and possibly reopened, but only on a C.O.D. ( Cash on Delivery) or C.I.A. (Cash in Advance) basis.

For questions regarding our
Credit Policy
Please Contact:
info@glpower.com

[ Download a Credit Application in PDF format for one (or more) of the following companies. ]

Great Lakes Power Products Great Lakes Power Service Great Lakes Power Lift Great Lakes RAMCO North Atlantic Power Products US Power

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