STANDARD TERMS & CONDITIONS

SUMMARY OF TERMS:

1. All account balances must be paid within 30 days after Date of Invoice.
2. Invoices are rendered 1% discount 10 days, 30 days Net. A late charge of 1-1/2% per month (18% per annum) will be added to any amounts which are not paid within 30 days and should it become necessary to refer this account to an attorney for collection, applicant agrees to pay all costs of collection, including court costs and attorney’s fees expressly waiving the benefits of all exemption laws.
3. No extension of terms or other settlements of debt shall be allowed without specific authorization of the Chief Financial Officer.
4. Accounts with “past due” balances or balances exceeding credit limits are subject to cancellation without prior notification.
5. This instrument contains the agreement between the parties and no changes in the agreement can be made without the written acceptance of MicroTesla, Ltd.