Terms & Conditions of Sale
General Terms
All new customers are required to prepay their first three (3) orders prior to shipment, unless otherwise approved in writing by Royal Import & Export Ltd.
A minimum order value of $300 CAD applies to all orders, unless the order is being added to an existing unshipped order.
Customers are required to maintain a minimum annual purchase volume of $2,000 CAD to keep their account active. Royal Import & Export Ltd. reserves the right to suspend or close accounts that do not meet this requirement.
By placing an order with Royal Import & Export Ltd., the customer acknowledges and agrees to these Terms & Conditions of Sale.
The customer agrees that any disputes regarding invoicing, shortages, damages, or billing discrepancies must be communicated in writing within seven (7) days of receipt of goods or invoice. Failure to do so shall constitute acceptance of the invoice and goods as delivered.
Royal Import & Export Ltd. reserves the right to amend, suspend, revoke, or modify customer credit privileges, payment terms, account limits, and purchasing eligibility at any time, at its sole discretion, without prior notice.
Payment Terms
Standard payment terms are 1/15 Net 30 from the invoice date, unless otherwise stated in writing by Royal Import & Export Ltd.
A 1% early payment discount applies only when full payment is received within fifteen (15) days of the invoice date, unless otherwise stated. The discount applies only to product and delivery charges.
Customers operating on prepayment-only terms are not eligible for early payment discounts unless otherwise expressly agreed to in writing by Royal Import & Export Ltd.
In accordance with CRA regulations, GST/HST is excluded from the early payment discount calculation.
Customers who remit payment for the full invoice amount, rather than the discounted amount, during the eligible early payment discount period shall be deemed to have forfeited the early payment discount.
Any unapplied credit notes, account credits, or overpayments remaining unused one hundred twenty (120) days after issuance may, at the sole discretion of Royal Import & Export Ltd., be automatically applied against the customer’s next outstanding or future invoice balance.
Any invoice not paid by the due date shall accrue interest at a rate of 0.5% per week (equivalent to 26% annually) on the outstanding balance owing, including applicable taxes and shipping charges, excluding previously accrued interest. Interest shall begin accruing on the seventh (7th) day following the invoice due date and shall continue until paid in full.
Accounts more than thirty (30) days overdue may, at the sole discretion of Royal Import & Export Ltd., be referred to a third-party collections agency or legal counsel for recovery.
Customers with overdue invoices may be restricted from placing further orders until their account is brought current.
Repeated late payments or overdue invoices may result in the suspension of credit privileges and a return to prepayment-only terms until Royal Import & Export Ltd. determines that the account has re-established satisfactory payment reliability.
The customer shall be responsible for all reasonable costs incurred in the collection of overdue amounts, including legal fees, collection agency fees, administrative costs, and applicable interest charges.
Credit Card Authorization
Where a customer has voluntarily provided and authorized a credit card to be stored on file, the customer authorizes Royal Import & Export Ltd. to charge the card for any outstanding invoice balance that remains unpaid fifteen (15) days past the invoice due date.
Royal Import & Export Ltd. may process payment to the card on file for the full outstanding balance, including applicable interest, fees, collection costs, and other amounts owing on the account, unless alternative payment arrangements have been agreed to in writing prior to processing the charge.