Billing Terms and Condtions
1. Payment Terms:
1.1 Full Payment: All services provided by TPS Lab, an agricultural consulting laboratory (hereinafter referred to as "the Company"), require full payment before the commencement of services.
1.2 Business Credit Application: Customers may apply for business credit by completing a Business Credit Application. The Company reserves the right to approve or deny credit applications at its discretion.
1.3 Net 30 Terms: Customers who have successfully completed the Business Credit Application and have provided a Backup payment may be granted Net 30 payment terms. This means that payment is due within 30 days from the date of invoice.
1.4 Requirement: Customers who have not completed a Business Credit Application or whose credit application is denied must pay in full before services are initiated.
2. Backup Payment:
2.1 Authorization: By providing a backup payment method, the customer authorizes the Company to charge the backup payment for any outstanding amounts in the event of non-payment or default.
3. Invoicing Policy:
3.1 Issuance of Invoices: Invoices for services will be issued at the start of the services and are due upon receipt, unless the customer has established an account with Net 30 terms through the successful completion of a Business Credit Application.
3.2 Net 30 Terms: Customers with Net 30 terms are required to make payments within 30 days from the date of the invoice.
4. Late Payments:
4.1 Late Fees: A late fee of 3% will be applied to invoices not paid within the Net 30 terms. The Company provides a 5-day grace period beyond the due date to facilitate timely payments. Late fees will accrue on a monthly basis for each month the payment is overdue.
4.2 Suspension of Services: The Company reserves the right to suspend services for customers with outstanding invoices beyond the Net 30 terms until the payment is received.
5. Legal Compliance:
5.1 Texas Business Laws: These terms and conditions are governed by the laws of the state of Texas. Any legal actions arising from or related to these terms shall be resolved in the courts of the state of Texas.
6. Changes to Terms:
6.1 Modification: The Company reserves the right to modify these billing terms and conditions at its discretion. Customers will be notified of any changes as applicable.
6.2 Acceptance: Continued use of the Company's services after the effective date of any changes constitutes acceptance of the modified terms.
By engaging in business with TPS Lab, customers agree to abide by these billing terms and conditions. The Company reserves the right to take necessary actions, including legal remedies, to recover any unpaid amounts.
TPS Lab
4915 W. Monte Cristo Rd.
Edinburg, TX 78541
(956)383-0739
Info@tpslab.com
www.tpslab.com