Invoices & Payment

Invoices and Payment

For Customers who have credit terms with Telematic, Customer agrees to pay, without offset or holdback, all invoiced amounts within thirty (30) days of Telematics' invoice date. Telematic may change credit or payment terms for unfulfilled orders if, in Telematics' reasonable opinion, Customer's financial condition, previous payment record, or relationship with Telematic merits such change. Telematic may suspend or discontinue performance of open Orders or Services if Customer fails to pay invoices when due, or if after ten (10) days written notice Customer has not cured any other failure to perform under these Terms. Customer shall make payment in full prior to or upon delivery by cashier's check, credit card, EFT, wire transfer, or money order, unless Telematic approves Customer for credit terms. Acceptance and approval of Customers credit application is at the sole discretion of Telematic. All sums not paid when due shall accrue interest daily at the lesser of a monthly rate of 1.5% or the highest rate permissible by law on the unpaid balance until paid in full. Payment shall be in the currency stated on Telematics' (quotation if provided) and invoice. In the event Customer has credit terms with Telematic, and where an order contains multiple quantities of Products, each Product will be invoiced when shipped.

Telematic accepts Visa, MasterCard, American Express, wire transfers and cheques. Wire transfers are acceptable for Customers with credit terms. Telematic may accept C.O.D.. Orders are subject to customs duties and/or brokerage fees. Telematic requires full payment prior to shipment, unless credit terms have been expressly granted. If Telematic brings an action for breach of these Terms and Conditions, including any action to enforce its right to payment, Customer shall be liable for Telematics' reasonable attorneys' fees, costs, and expenses incurred in connection with such action.

Customer will provide Telematic, concurrent with each payment, with remittance information in sufficient detail (to the invoice level or line level as the case may be) to allow Telematic to properly apply payments or credit memos to outstanding receivable(s) on Telematics' accounts receivable sub-ledger for Customer. Customer shall also include its account number with any remittance. Failure to supply Telematic with such remittance detail will result in additional processing delays and may affect the credit status of pending or future Customer purchase orders. When Customer wishes to apply one or more credit memos towards a payment amount owed Telematic, Customer agrees to provide Telematic, on a timely basis, the specific credit memo number(s) and amount(s) to be applied, in addition to the remittance information requirements above. If Customer does not provide such information on a timely basis, Telematic shall apply any such credit memos to outstanding receivables, beginning with the most-aged receivables first.

If a credit card is being used for a transaction, Telematic may obtain preapproval for an amount up to the amount of the order. Billing normally occurs at the time of or shortly after your order transaction is processed. Credit card payments may incur a processing fee of 2.5% (inclusive of taxes) of the total payment amount. When making purchases, credits are used first; your credit card or your account, if applicable, is then charged for any remaining balance. 

Business Line of Credit Terms

Telematic extends a line of credit or credit terms to qualified business Customers. To be considered, your business must meet the following minimum requirements: 1) Your Company has been in business for a minimum of 6 months; 2) You have a business checking account; and 3) You have at least three positive trade credit references. Please fill in the Credit Application form if you want to apply for a Line of Credit.

Payment Methods for Accounts

Telematic accepts payment by:  1) Visa,  2) MasterCard, 3) American Express, 4) Check,  5) Electronic Funds Transfer (EFT) and  6) Wire Transfer

If your business, institution or government agency wishes to pay on account, you must first have an account with Telematic. An approved Credit Application must be on file with Telematic. Once approved, checks will be accepted as a payment option.

Letters of Credit

Payment may be made by irrevocable confirmed L/C provided that the total invoice value of the export order is more than US$5,000.00. Multi-line L/C orders must allow for two partial shipments and be valid for a period of at least one hundred fifty (150) days. L/C fees will be charged to Customers account.

Credit Cards

We accept VISA, MasterCard and American Express. We do not accept debit cards. We accept up to two credit cards for a single order; however the credit card holder’s address must be the same as the billing address when purchasing Products. Credit card payments may incur a processing fee of 2.5% (inclusive of taxes) of the total payment amount. Please note – while we will seek to obtain an immediate authorization from your card issuer to reserve funds for your purchase, we will only charge your card once the order has been shipped. However, your credit card will be charged immediately for orders that are placed on our online store.

Electronic Funds Transfer - EFT

Telematic prefers to receive account payments electronically. With our EFT Payment Plan, Telematic emails you an invoice notifying you of the funds being due as per your account terms; your bank transfers the amount of the invoice from your checking account to the specified Telematic account. Each payment is shown on your monthly bank statement. At Telematic we sincerely appreciate working with corporations that endeavor to reduce the amount of paper-based transactions.

Wire Transfer

Telematic accepts bank wire transfers as a valid form of payment. If you would like to use a wire transfer to pay for your order, please perform the following steps: 1. Order your Telematic Product by e-mail, fax, mail, courier or phone. 2. Determine the total amount of the invoice including any applicable taxes and shipping charges. 3. Instruct your bank to electronically transfer the total invoice amount or your order (please have the bank reference your name and Kayden order number).

Payment Terms

Payment terms are subject to Telematic credit approval. Payment is due thirty (30) days from Telematics' invoice date. Telematic may change credit or payment terms at any time when, in Telematics' opinion, Customer’s financial condition, previous payment record, or the nature of Customer’s relationship with Telematic so warrants. Telematic may discontinue performance if Customer fails to pay any sum due, or fails to perform under this or any other Telematic agreement if, after ten (10) days written notice, the failure has not been cured. Credit card payments on account balance will be subject to a 2.5% processing fee.

Telematic Account Details

Telematic Controls Inc. c/o Royal Bank of Canada
 

Routing transit (ABA) Number: ROYCCAT2

Account Number ($ USD): 4034856

Account Number ($ CAD): 1268150

Account Type: Lockbox

Transit/Institution/Branch: 00009-003

 

 

Updated: November 27, 2017