At TCI Supply, we offer flexible, reliable payment options to support your procurement needs. Below you will find detailed information regarding credit term eligibility, payment methods, account security, and delinquency policies.
1. Applying for Credit Terms & Eligibility
- Eligibility (US Only): Open credit terms are available exclusively to approved US-based companies. Credit terms are not granted to companies outside of the United States. All international orders require advance payment via Wire Transfer or ACH prior to shipment.
- Application Process: To be considered for open credit terms, US-based customers must submit a completed TCI Supply Credit Application, including a minimum of three (3) active trade references, by requesting an application directly from their sales representative or accounting department.
- Initial Order Prepayment: All initial orders or first Purchase Orders (POs) must be prepaid via ACH, check, credit card, or PayPal while the credit application is under review.
- Tax Exemption: Customers claiming tax-exempt status must provide a valid resale or exemption certificate prior to order processing.
- Review & Approval: Extension of credit terms is subject to approval. Submitting an application does not guarantee terms will be granted.
2. Standard Payment Terms & Eligibility
- Approved Accounts (US Only): Standard payment terms are Net 30 days from the invoice date for approved US-based companies, unless different terms have been formally arranged in writing.
- Unapproved US Accounts (COD): US customers operating without an approved credit application are placed on Cash on Delivery (COD) terms. Accepted COD payment methods include advance check, ACH, wire, credit card, or PayPal (processing fees apply when applicable).
- International Accounts: Credit terms are not granted to companies outside of the United States. All international orders require advance payment via Wire Transfer or ACH prior to shipment (processing fees apply when applicable).
3. Payment Methods, Fees & Card Security
- Payment Methods: TCI Supply accepts ACH payments, wire payments, advance checks, credit cards, and PayPal.
- Processing Fees & Wire Charges: A 3.5% processing fee applies to all credit card and PayPal transactions. For all bank/wire transfers, all associated transfer and intermediary bank fees must be paid by the buyer.
- Card Eligibility & Submission: Credit card processing is available exclusively for US-issued cards. Customers may provide card details by calling TCI Supply directly, or by paying through a secure credit card link generated and emailed directly by TCI Supply.
- Security & Compliance: TCI Supply is PCI compliant. Payment processing is managed securely through Stripe. TCI Supply does not store sensitive credit card numbers directly on local servers.
- Card on File Requirement: Opening a Net 30 account requires maintaining a valid US credit card on file as security for late payments. By accepting Net 30 terms, the customer authorizes TCI Supply to charge this card for any balance outstanding beyond agreed payment terms.
4. Invoice Disputes, Delinquency & Legal Remedies
- Invoice Disputes: Any claims regarding invoice discrepancies, incorrect pricing, or missing items must be submitted in writing within ten (10) business days of the invoice date. Uncontested balances remain due per standard terms.
- Late Fees & Application of Payments: Overdue balances are subject to a monthly late fee of 1.5% (18% per annum) or the maximum rate permitted by law. Payments received will be applied to the oldest outstanding balances first.
- Credit Holds & Shipment Suspension: Accounts remaining unpaid beyond 60 days from the invoice date will be automatically placed on credit hold, unless different terms have been arranged in writing. TCI Supply reserves the right to withhold pending shipments while an account is past due.
- Late Payment Enforcement: TCI Supply reserves the right to charge the credit card on file for overdue amounts. Customers must ensure the card on file remains valid with sufficient available credit.
- Default & Recovery: If an account defaults, or if the card on file is invalid or declined, TCI Supply reserves the right to pursue legal remedies or collection services to recover outstanding balances. The customer shall be responsible for all associated collection fees, legal fees, and court costs.
5. Terms Agreement & Modification
- Policy Acceptance: Opening a Net 30 account or placing an order constitutes full acceptance of these terms and conditions. TCI Supply reserves the right to modify or terminate this credit policy at any time without prior notice.
Frequently Asked Questions
Who is eligible for Net 30 credit terms?
Open credit terms are available exclusively to approved US-based companies with a completed credit application on file. International orders require advance payment via wire transfer or ACH prior to shipment.
What payment methods are accepted and are there processing fees?
We accept ACH, wire transfers, advance checks, US-issued credit cards, and PayPal. A 3.5% processing fee applies to credit card and PayPal transactions, and buyers are responsible for all bank/wire transfer fees.
Why is a credit card required on file for Net 30 accounts?
Maintaining a valid US credit card on file is required as security for late payments. By accepting Net 30 terms, you authorize TCI Supply to charge the card on file for any balance that remains outstanding beyond your agreed terms.
