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Select Fitness USA 30-Day Net Terms and Conditions Payment Agreement
This Payment Agreement (the “Agreement”) is made between Select Fitness USA (“Seller”) and the purchasing customer (“Buyer”). By accepting the terms and conditions outlined below, the Buyer agrees to adhere to the following payment structure and guidelines.
1. Payment Terms
• The Buyer agrees to pay for all goods purchased from Select Fitness USA on a 30-day net basis.
• Payment is due within 30 days from the date of arrival of the fitness/gym equipment at the Buyer’s designated delivery address.
2. Late Payment
• If payment is not received within the 30-day period, the overdue balance will incur an interest charge of 1% per month on the outstanding amount.
• The interest will be applied starting from day 31 of the overdue balance and continue monthly until the balance is paid in full.
3. Payment Method
• Payments should be made via the agreed-upon method at the time of purchase, which may include bank transfer, credit card, or check.
• All payments must be directed to the account details provided by Select Fitness USA.
4. Non-Payment and Default
• If the Buyer fails to pay the outstanding balance after 60 days, Select Fitness USA reserves the right to take further action, including but not limited to suspending future shipments or initiating legal action to recover the overdue balance.
• The Buyer will be responsible for any additional costs incurred by Select Fitness USA to collect the overdue payment, including legal fees and collection costs.
5. Modifications to Terms
• Any changes to this Agreement must be made in writing and agreed upon by both parties.
6. Governing Law
• This Agreement will be governed by the laws of the state of Illinois and any disputes will be resolved within its jurisdiction.