At Bar Elevated, we offer flexible payment options to qualifying business and resale customers through NET Terms. Below are the rules and conditions that govern these payment terms. Please review carefully to ensure compliance with our policies.

1. Eligibility for NET Terms

  • To be eligible for NET 7, NET 15, or NET 30 terms, business customers must complete three successful orders and demonstrate a positive payment history.
  • The availability of NET terms is subject to credit checks and internal reviews.
  • Business customers must provide all necessary documentation, including a valid tax-exempt certificate if applicable.

2. Payment Terms

  • NET 7, NET 15, or NET 30 terms allow customers to pay for their order within 7, 15, or 30 calendar days after the invoice date.
  • Payments can be made via credit card, check, ACH transfer, or cash on demand.
  • The specific NET term (7, 15, or 30 days) will be agreed upon prior to the order being finalized and reflected on the invoice.

3. Invoice and Billing

  • An invoice will be sent via email upon shipment of your order, which will include the agreed payment due date (e.g., NET 7, NET 15, or NET 30).
  • It is the customer’s responsibility to ensure that all contact and billing information provided to Bar Elevated is accurate and up to date.

4. Late Payments and Penalties

  • Payments must be received in full by the due date specified on the invoice.
  • Late Payments: A late fee of 2% per month will be applied to any outstanding balance that is overdue.
  • If payment is not received within the agreed term, we reserve the right to:
    • Place future orders on hold.
    • Suspend your NET term privileges and revert you to prepayment terms.
    • Take legal action to recover the outstanding balance.

5. Consequences of Non-Payment

  • If payment is not made within 30 days after the invoice due date, the following actions may be taken:
    • Collections: We may forward your account to a collection agency or pursue legal recourse.
    • Termination of NET Terms: Your NET term privileges will be permanently revoked, and all future orders will require upfront payment.
    • Legal Action: In the event that we need to pursue legal action to recover payment, the customer will be liable for all legal fees and costs associated with the recovery.

6. Credit Limit

  • Bar Elevated reserves the right to assign a credit limit for each business customer using NET terms. This limit will be based on a review of your order history and creditworthiness.
  • Exceeding your credit limit will result in orders being placed on hold until the outstanding balance is reduced.

7. Payment Disputes

  • Any disputes regarding an invoice must be raised in writing within seven (7) days of receiving the invoice.
  • Failure to dispute an invoice within this period will result in the invoice being deemed accepted as accurate.

8. Tax Exemption

  • Business customers who qualify for tax-exempt status must provide a valid tax-exempt certificate prior to placing an order.
  • Failure to provide tax exemption documentation at the time of the order will result in sales tax being applied to your purchase.

9. Payment Methods

  • We accept the following payment methods for NET terms:
    • Credit Card: Visa, MasterCard, American Express, Discover.
    • ACH Transfer: Direct bank transfer to our specified account.
    • Check: Payable to Bar Elevated. Checks must clear within the NET term period.
    • Cash on Demand: In-person payments at our Miami, FL location.

10. Termination of NET Terms

  • Bar Elevated reserves the right to terminate a customer’s NET terms at any time if they fail to adhere to these rules or due to changes in creditworthiness.
  • Termination of NET terms may occur for reasons such as repeated late payments, exceeding credit limits, or non-compliance with our policies.