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Please note the following options and terms for remitting payment to Formtech Enterprises.

Payment Options:

Formtech accepts checks and/or ACH payments.

What is ACH?:  Automated Clearing House or ACH is an electronic network for financial transactions taking place in the United States. ACH processes large volumes of credit and debit transactions in batches. These credit transfers include direct deposit, payroll, and invoice payments. It provides a safe, secure, electronic network for direct consumer, business, and government payments.

What are the Benefits of ACH:   
– SIMPLE: Formtech is happy to provide you with the information that your bank will need to make the necessary transactions.
– SMART: ACH is a more cost-effective alternative to making payments.  You have the opportunity to reduce your administrative, printing, and postage costs, and streamline your payment process.  Additionally, your   payments will be received and processed more quickly, leading to better traceability of payments.
– SAFE: Making payments via ACH will provide greater security over your payments.  It also removes the possibility of lost checks.
– GREEN: It’s environmentally friendly!  ACH payments are essentially paperless since no paper checks, envelopes, or paper remittance information is necessary!

For all payments, please submit corresponding remittance advice.  Electronically, you can submit this information to receivables@formtech.com.

Credit Terms:

In order to receive credit, Formtech may require customers to provide credit references or other appropriate support.  Credit may be extended pending verification of requested data.  Please note that Formtech maintains the right to revoke credit privileges or modify credit terms if payments are not received within terms or for any other reason at Formtech’s discretion.  Any account with invoices aged over 90 days will be placed on a credit hold, and no order will be shipped or accepted until the aged invoices are paid in full.

Payment Terms:

Unless otherwise stated:
– Payment terms for extruded or fabricated products are 1% 10 days/Net 30 days.
– Payment terms for engineering and/or development fees are net 30 days after invoice date, with no discount for earlier payment; however, the buyer may be required to make an advance payment and/or progress payments based upon the degree of completion of the work involved.
– Prices quoted are F.O.B. the plant of origin.
– State or Federal tax levied shall be added to the amount paid by and remain the sole responsibility of the Buyer.
– Any portion of the price, which is not paid in accordance with the terms of payment herein stated, shall bear interest from the due date at the rate of 1/20 of 1% per day until paid.

Contact:

For questions about invoices, payments, credit standing, or other similar items, please contact your sales or customer service representative or email receivables@formtech.com.

 

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