| CIO, Inc. Credit Policy |
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| CIO is pleased to extend to our preferred clients a line of credit. In an effort to guide our policy, we have contracted Dun & Bradstreet (D&B) to provide us information relating to the financial stability of prospective and current clients. |
| This information contains a meter displaying the level of non-payment risk, recent payment trends vs. industry standards, information on the business owner, demographic information on the business, and legal notice or filings. |
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CIO requires a down payment from all first time buyers and/or all large purchases. CIO reserves the right to
make judgements on a case by case basis depending on the profitability and nature of each sale, but in general,
we will follow these guidelines: 1. Credit Checks are performed on all new clients prior to issuance of terms. 2. Orders from new clients determined to be a credit risk, will be required to prepay all invoices prior to product shipment or labor being performed. 3. Prospective clients determined to be an acceptable risk, will have their orders processed in the following manner: a. Sales under $10,000: 1/2 due upon order, balance due COD. b. Sales over $10,000: 1/2 due upon order, balance due Net 10 of order date or COD, whichever is later. 4. Existing clients (not on credit hold w/CIO) will have their orders processed in the following manner: a. Sales under $10,000: Net 10 b. Sales over $10,000: 1/2 due upon order, balance due Net 10 of order date or COD, whichever is later. 5. Terms of sale of all blocks of labor time and retainers are: "Net 10; All hours worked prepayment will be re-billed at CIO Standard rate." See Service Rates sheet for details. 6. CIO also accepts Visa, MasterCard, American Express and Discover. Charges on these cards are subject to a 3% surcharge to cover the bank processing fee. 7. Finance and administrative fees may be applied to all delinquent payment. |