This credit policy provides information to Accusoft customers on Accusoft’s Policy Standards and business practices. This policy statement concerns business relationships of the following types: cash and credit sales, product distributors, contracted OEM’s, one-time or return customers, licensed customers, and Accusoft custom solution customers. The expectations for adherence to this policy are explained below. For all business relationships accepted by Accusoft, and all actions taken by Accusoft, as described, Accusoft will rigorously enforce the existing Policy Standards. It is the policy of Accusoft’s Credit/Collections Department (The Department) to follow each Standard as stated within the structured time period, however Accusoft reserves the right to change any or all procedures from time to time as deemed necessary.
Accusoft is not obligated nor is it the standard policy of Accusoft to supply credit terms to any customer, therefore all sales shall be in cash and in United States Currency (USD$), unless a relationship has been established with The Department through a Credit Reference List and Application on file and The Department has approved credit conditions for the customer. Credit conditions granted shall be based on a review of the business relationship by The Department, and The Department reserves the right to provide the customer with an appropriate credit limit based on its review.
Once credit has been established, the following policies and rules apply:
- No purchase orders under $1,000 will be accepted for first time purchases.
- All invoices sent by Accusoft are NET 30 days from the date of the invoice.
- When an outstanding invoice(s) exist with Accusoft, a statement shall be mailed at the beginning of each calendar period. No statement from Accusoft shall be mailed with Zero ($0) Due.
- For all Invoice(s) which are over 30 days past due, Accusoft shall resend a reminder of the amount due with the past due invoice(s).
- For all invoice(s) which are over 60 days past due, Accusoft shall send a formal collection letter.
- For all invoice(s) which are over 90 days past due, Accusoft shall send a notification of collection action within seven (7) days of the date of the letter and revocation of credit privileges if payment is not received before the specified deadline. Phone call attempts to collect may be made at this time as well.
- Consistent late payments or abuse of credit privileges may result in revocation of credit privileges at The Department’s discretion.
- Return Material Authorizations (RMA’s) are not provided, except under special circumstances as approved by The Department.
- Credit memos that are issued are applied first to the customer’s outstanding balances (if any), and then sent to the customer with a request to use remaining balance of credit toward next remittance. If a refund is requested, the request must be in writing, and the credit memo must be signed and returned by the authorizing party.
- Customers or OEM’s that are billed monthly, quarterly, or annually for royalties, royalty reporting, or licensing may have special terms described by their contract. These customers may be required to complete a credit application.
Distributors of Accusoft products will be required to complete a credit application and set up a payment/consignment reporting schedule. Existing distributors may be asked to renew their credit application annually to allow The Department to reevaluate the agreement, including discounts allowed based on business relationship success.
A customer that has not established a credit relationship with Accusoft by following the above procedure will be considered a cash customer and required to pay either by wire funds transfer, Credit Card, or check prior to delivery of product.