Common use of CREDIT AND PAYMENTS Clause in Contracts

CREDIT AND PAYMENTS. All payments must be in U.S. dollars. Payments made via credit card will be subject to a 3.1% processing charge. Invoices are due and payable within the time period noted on Customer’s invoice, or if not noted, then within thirty (30) days, measured from the date of the invoice, subject to continuing credit approval by ECM Industries LLC. ECM Industries LLC reserves the right to withdraw credit at any time and for any reason. ECM Industries LLC may invoice parts of an order separately or may invoice purchases of Products in one invoice. If Customer delays shipment for any reason without first obtaining the prior written approval of ECM Industries LLC, payments shall become due from the date on which ECM Industries LLC was prepared to make shipment and storage shall be at Customer’s risk and expense. OVERDUE ACCOUNTS. Timely payment for all invoices is of the essence. ECM Industries LLC reserves the right to charge Customer a late penalty of 1.5% per month applied against undisputed overdue amounts, or the maximum rate permitted by law. ECM Industries LLC shall have the right to set-off and deduct from any credit balance any sums owed from ECM Industries LLC. If Customer fails to make payment in accordance with the payment terms specified by ECM Industries LLC, ECM Industries LLC may, without any liability to Customer, defer shipments until such payment is made, or may, at its option, cancel all or any part of the unshipped order. Customer shall be liable to ECM Industries LLC for all collection expenses, including reasonable attorney’s fees and court costs, incurred by ECM Industries LLC in attempting to collect any amounts due from Customer. CREDIT BALANCES. Unless otherwise agreed to by ECM Industries LLC in writing, Customer must use any credit balances that have been issued by ECM Industries LLC within one (1) year of issuance. IF NOT APPLIED OR REQUESTED WITHIN SUCH PERIOD, ANY BALANCE REMAINING WILL BE SUBJECT TO CANCELLATION, AND ECM INDUSTRIES LLC SHALL HAVE NO FURTHER LIABILITY WITH RESPECT THERETO. CORRECTIONS. ECM Industries LLC is not responsible for pricing, typographical, or other errors in any offer, catalog, price list or quotation, and reserves the right to cancel orders arising from such errors.

CREDIT AND PAYMENTS. All payments must be in U.S. dollars. Payments made via credit card will be subject to a 3.1% processing charge. Invoices are due and payable within the time period noted on Customer’s invoice, or if not noted, then within thirty (30) days, measured from the date of the invoice, subject to continuing credit approval by ECM Industries Power Products LLC. ECM Industries Power Products LLC reserves the right to withdraw credit at any time and for any reason. ECM Industries Power Products LLC may invoice parts of an order separately or may invoice purchases of Products in one invoice. If Customer delays shipment for any reason without first obtaining the prior written approval of ECM Industries Power Products LLC, payments shall become due from the date on which ECM Industries Power Products LLC was prepared to make shipment and storage shall be at Customer’s risk and expense. OVERDUE ACCOUNTS. Timely payment for all invoices is of the essence. ECM Industries Power Products LLC reserves the right to charge Customer a late penalty of 1.5% per month applied against undisputed overdue amounts, or the maximum rate permitted by law. ECM Industries Power Products LLC shall have the right to set-off and deduct from any credit balance any sums owed from ECM Industries Power Products LLC. If Customer fails to make payment in accordance with the payment terms specified by ECM Industries Power Products LLC, ECM Industries Power Products LLC may, without any liability to Customer, defer shipments until such payment is made, or may, at its option, cancel all or any part of the unshipped order. Customer shall be liable to ECM Industries Power Products LLC for all collection expenses, including reasonable attorney’s fees and court costs, incurred by ECM Industries Power Products LLC in attempting to collect any amounts due from Customer. CREDIT BALANCES. Unless otherwise agreed to by ECM Industries Power Products LLC in writing, Customer must use any credit balances that have been issued by ECM Industries Power Products LLC within one (1) year of issuance. IF NOT APPLIED OR REQUESTED WITHIN SUCH PERIOD, ANY BALANCE REMAINING WILL BE SUBJECT TO CANCELLATION, AND ECM INDUSTRIES POWER PRODUCTS LLC SHALL HAVE NO FURTHER LIABILITY WITH RESPECT THERETO. CORRECTIONS. ECM Industries Power Products LLC is not responsible for pricing, typographical, or other errors in any offer, catalog, price list or quotation, and reserves the right to cancel orders arising from such errors.

CREDIT AND PAYMENTS. All payments must be in U.S. dollars. Payments made via credit card will be subject to a 3.1% processing charge. Invoices are due and payable within the time period noted on Customer’s invoice, or if not noted, then within thirty (30) days, measured from the date of the invoice, subject to continuing credit approval by ECM Industries LLC. ECM Industries LLC Indu-Electric North America, Inc. Indu-Electric North America, Inc reserves the right to withdraw credit at any time and for any reason. ECM Industries LLC Indu-Electric North America, Inc may invoice parts of an order separately or may invoice purchases of Products in one invoice. If Customer delays shipment for any reason without first obtaining the prior written approval of ECM Industries LLCIndu-Electric North America, Inc, payments shall become due from the date on which ECM Industries LLC Indu-Electric North America, Inc was prepared to make shipment and storage shall be at Customer’s risk and expense. OVERDUE ACCOUNTS. Timely payment for all invoices is of the essence. ECM Industries LLC Indu-Electric North America, Inc reserves the right to charge Customer a late penalty of 1.5% per month applied against undisputed overdue amounts, or the maximum rate permitted by law. ECM Industries LLC Indu-Electric North America, Inc shall have the right to set-off and deduct from any credit balance any sums owed from ECM Industries LLC. Indu-Electric North America, Inc. If Customer fails to make payment in accordance with the payment terms specified by ECM Industries LLCIndu-Electric North America, ECM Industries LLC Inc, Indu-Electric North America, Inc may, without any liability to Customer, defer shipments until such payment is made, or may, at its option, cancel all or any part of the unshipped order. Customer shall be liable to ECM Industries LLC Indu-Electric North America, Inc for all collection expenses, including reasonable attorney’s fees and court costs, incurred by ECM Industries LLC Indu-Electric North America, Inc in attempting to collect any amounts due from Customer. CREDIT BALANCES. Unless otherwise agreed to by ECM Industries LLC Indu-Electric North America, Inc in writing, Customer must use any credit balances that have been issued by ECM Industries LLC Indu-Electric North America, Inc within one (1) year of issuance. IF NOT APPLIED OR REQUESTED WITHIN SUCH PERIOD, ANY BALANCE REMAINING WILL BE SUBJECT TO CANCELLATION, AND ECM INDUSTRIES LLC Indu-Electric North America, Inc SHALL HAVE NO FURTHER LIABILITY WITH RESPECT THERETO. CORRECTIONS. ECM Industries LLC Indu-Electric North America, Inc is not responsible for pricing, typographical, or other errors in any offer, catalog, price list or quotation, and reserves the right to cancel orders arising from such errors.. SPECIAL / CUSTOM PRODUCTS. A Special or Custom Product includes any product which has any degree of deviation in drawing, design, material, specification, usage, or labeling from the Standard Products offered in the most recent published catalog. Orders for Special or Custom Products are non-cancellable and nonreturnable. If Customer rejects any delivery of Special or Custom Products, in whole or in part, Customer is still liable for the full purchase price of such order. RETURN POLICY. Subject to certain restrictions, new, unused, and unopened Standard Products may be returned to Indu-Electric North America, Inc within 30 days of receipt of invoice and receipt of a Return Merchandise Authorization (RMA) from Indu-Electric North America, Inc (“Authorized Returns”). To obtain an RMA, contact your Customer Services Representative or Technical Services Representative. Authorized Returns are subject to a 20% restocking fee. Authorization will not be given for the return of Products (i) which would, in Indu-Electric’s sole opinion, result in an excess in the amount of stock Indu-Electric North America, Inc normally carries, (ii) which are discontinued Products,