5. INSTALLATION
A. Unless specified and quoted in the Proposal, the installation of the Equipment will be at the expense of the Buyer.
6. START UP
A. Unless specified and quoted in the accepted Proposal, the set-up of the Equipment will be at the expense of the Buyer. LS will provide the services of a technician for Equipment start up and will bill the Buyer at the rate of $750.00 per day plus expenses: the cost of travel, meals and lodging. Equipment must be installed and ready to run prior to technician's arrival (Two week advanced, written notice is required, received and accepted by LS).
7. TERMS
A. Standard Equipment
To purchase Standard Equipment, the Buyer's payment schedule is as follows:
1) A current credit application for the Buyer must be on file.
2) A Deposit of 20% is required and must accompany the signed Equipment Proposal/order before Equipment is scheduled into LS' manufacturing process. Buyer's Purchase Order is acceptable with Deposit but not in lieu of Deposit.
3) Balance Due – Net 30 from date of shipment from LS plant.
4) A 3% Cash Discount will be given when Payment In Full accompanies the signed Equipment Proposal/Purchase Order.
5) Equipment purchased from LS and scheduled for shipment outside of the contiguous United States, requires full payment prior to actual shipment.
B. Non-Standard or Special Equipment
To purchase Non-Standard or Special Equipment, the Buyer's payment schedule is as follows:
1) A current credit application for the Buyer must be on file.
2) A Deposit of 50% of the total sale price is required and must accompany the signed Equipment Proposal/order before Equipment is scheduled into LS' manufacturing process. Buyer's Purchase Order is acceptable with Deposit but not in lieu of Deposit.
3) Prior to shipping, payment equal to 90% of the total sale price is required.
4) Balance Due – Net 30 from date of shipment from LS plant.
5) A 3% Cash Discount will be given when Payment In Full accompanies the signed Equipment Proposal/ Purchase Order.
C. Exports
To purchase Equipment for export (outside of the contiguous United States), the Buyer's payment schedule is as follows:
1) A minimum deposit of 50% is required and must accompany the signed Equipment Proposal/order before Equipment is scheduled into LS' manufacturing process.
2) Equipment purchased from LS and scheduled for shipment outside of the contiguous United States, requires full payment prior to actual shipment.
3) Acceptable forms of payment are Irrevocable Letter of Credit and wire transfers. Buyer's Purchase Order is acceptable with Deposit but not in lieu of Deposit.
D. Lease
1) Customer lease programs are available from LS.
2) Other lease programs (Buyer initiated) must be approved by LS Industries.
3) An approved lease, with receipt of Equipment Purchase Order from lease company, is required and must accompany the signed Equipment Proposal/order before Equipment is scheduled into LS' manufacturing process.
4) A lease on non-standard equipment requires a deposit of 50% of the total sale price of the equipment with the order from either the customer or the leasing company. If customer makes the deposit, it will be refunded to customer when the leasing company pays LS Industries. |
