Accusoft Credit Policy
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 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 to supply credit terms to any customer. Therefore all sales shall be payable in advance, unless a relationship has been established with Accusoft. Accusoft will grant credit conditions based on a review of the business relationship and the customer may be required to complete a credit application. Accusoft 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, unless previously agreed. 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.
- For all Invoice(s) which are over 30 days past due, Accusoft shall send a statement of amounts due including finance charges.
- Past due invoices are subject to a finance charge of 18% per annum.
- Customers with overdue accounts will not be given support or upgrades by Accusoft. Please note that once a ‘support hold’ is placed into our customer support system for an overdue account, the removal of that support hold will only occur after all overdue payments, including finance charges have been received. Removal from support hold will occur at the next regularly scheduled customer support system database update after the necessary approvals have been obtained. Accusoft reserves the right to discontinue customers with a past due invoice balance.
- Consistent late payments or abuse of credit privileges may result in revocation of credit privileges at Accusoft’s discretion.
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 Accusoft 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, ACH, or check prior to delivery of product.