Standard Payment 

  1. Quotation, Order and Payment.
    1. Price.   Any quotation on the Products will be open for acceptance within the period indicated therein and may be amended or revoked by Philips prior to Customer's acceptance. Any purchase orders shall be subject to Philips' confirmation. Any terms and conditions set forth on the Customer’s purchase order or otherwise issued by the Customer shall not apply to the Products.
    2. Payment Terms.   The prices and payment terms are set out on the quotation. Orders are subject to Philips’ ongoing credit review and approval.  If the quotation indicates net prices that are each associated with a payment method then Philips will invoice Customer, and Customer will pay the net price that corresponds to the payment method that Customer elected in its purchase order or signed quote. Prior to invoice, Customer may modify the payment method by providing Philips with an amended purchase order that reflects the new payment method and corresponding price.
    3. Late Payments and Non-Payment.  Interest will apply to any late payments. Customer shall pay interest on any amount not paid when due at the annual rate of twelve percent (12%) which may be billed monthly. If the Customer fails to pay any amounts due or breaches these Conditions of Sale, Philips will be entitled to suspend the performance of its obligations and deduct the unpaid amount from any amounts otherwise owed to Customer by Philips, in addition to any other rights or remedies available to Philips.  Philips shall be entitled to recover all costs and expenses, including reasonable attorneys' fees related to the enforcement of its rights or remedies.
    4. Cancellation.   Customer has no right to cancel an order, unless such cancellation right is granted to the Customer by mandatory law in which case the Customer shall pay the costs incurred by Philips up to the date of cancellation.  In other cases of cancellation, Customer shall pay a 15% cancellation fee.
    5. Partial Payments and Early Shipments.   Philips may make partial or early shipments and Customer will pay such invoice based on the date of invoice for each product in accordance with the payment terms set forth in the quotation.
    6. Payment Method.   Payments may be made by check, ACH or wire.  Philips does not accept transaction fees for wire transfers. All check payments over $50,000 usd must be paid via eCheck or via  Philips prepaid FedEx account with tracking to secure against fraud and misappropriation.
Example Notes

7/15/22 - This clause is mandated by CFO for use per MartyA email 7/7/22.  Removed the following 英雄联盟竞猜下载全球 and Alternatives which it replaces:  Payment Methods, Late Payments, Partial and Early Shipments.

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