late fees & penalties
A late payment charge of 1.5% (annual percentage rate of 18%) shall be charged on all past due accounts. If the foregoing charges exceed the rate which may be lawfully charged under applicable law, then such charges shall be calculated so as not to exceed the highest lawful interest. If the account is not paid as agreed and the account is assigned to a third party collection agency, the wholesaler agrees to pay the actual amount of any collection fee not to exceed 35% of the amount assigned. Additionally, if the account is not paid as agreed and legal action is commenced to collect the amount due, the wholesaler agrees that, in addition to other charges authorized, the wholesaler will pay reasonable attorney’s fees and the venue for legal action will be placed in Skagit County, WA.
Unpaid invoices are considered past due after 31 days of the invoice date. Unpaid invoices that exceed 45 days of the invoice date will be placed on COD status until the unpaid balance is cleared. In addition, all discounts or special arrangements will be void, and the entire total must be paid before any further orders can be placed. A $20.00 NSF fee will be applied to all returned checks.