Customer Terms & Conditions
- PAYMENTS: Unless otherwise agreed by Lake Air Metal Products, LLC or Lake Air Metal Stamping, LLC (“Lake Air”) in writing, all amounts payable shall be due to Lake Air within thirty (30) days of invoice date. A late charge of 1.5% per month may be assessed against any invoices not paid within such 30 day period, or the maximum interest allowable under applicable state law. Customer agrees to be responsible for collection costs and reasonable attorney’s fees if it becomes necessary for Lake Air to place any past due account with an agency or an attorney for collection.
- TITLE/RISK OF LOSS: Title to and risk of loss of goods shall pass from Lake Air to the Customer when the goods or component parts are placed in the possession of the carrier for shipment to Customer.
- ACCEPTANCE OF GOODS: Customer shall inspect or test all goods upon receipt. Customer shall be deemed to have effected final acceptance of the goods within fifteen (15) days from the date of initial shipment (which the parties agree provides a reasonable opportunity to inspect such goods) unless written notice is received by Lake Air within such period.
- RETURNS: Returned goods will be accepted only if Lake Air has given prior written consent.
- CANCELLATION: Upon receipt of written notice from Customer, Lake Air shall cancel any orders as instructed, subject to Lake Air’s (or its subcontractors) right to continue processing raw or finished material to the point at which processing can be halted with the least disruption and cost to Lake Air. Customer shall be responsible for all costs associated with the cancellation, materials purchased and completion of processing of materials in process.
- LAKE AIR DISCLAIMS ANY AND ALL WARRANTIES, WHETHER EXPRESS, IMPLIED OR STATUTORY, INCLUDING WITHOUT LIMITATION THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. THERE ARE NO WARRANTIES WHICH EXTEND BEYOND THE DESCRIPTION ON THE FACE HEREOF. LAKE AIR’S LIABILITY TO CUSTOMER SHALL IN NO EVENT EXCEED THE AMOUNTS PAID BY THE CUSTOMER TO LAKE AIR. IN NO EVENT SHALL LAKE AIR BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES, INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OF USE, INCURRED BY CUSTOMER OR ANY THIRD PARTY, WHETHER IN AN ACTION IN CONTRACT OR TORT, EVEN IF THE OTHER PART HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. ALL GOODS TO BE PROVED “AS-IS”.
- DISPUTE RESOLUTION/GOVERNING LAW: Any and all disputes between Lake Air and Customer shall be determined subject to Minnesota law and its state or federal courts shall have jurisdiction and venue.