CA Dealer Power Up Binder - Flipbook - Page 59
T y pe
De a le r Po l ic y Ma n ua l ( DP M)
Da te
Ja n ua r y 1 , 2 02 3
T i tl e :
2 0 23 F ina nc e Po l ic y
Nu mbe r
DP M - 20 2 3- 0 06
Au tho r :
Ro g e r N ic e – D ir e c to r o f Cr e di t
Ve r s io n
1
Summary:
The purpose of the Kress Dealer Finance Policy is to provide Dealers with
guidelines related to the terms in the Kress Dealer Sales and Service Agreement.
Terms and Conditions
1. All consignment and non-consignment orders are subject to credit
approval.
2. Consignment Sale Process: Dealers are to scan and register consignment
inventory during the retail sales process (the “Scan Process”). The Scan
Process triggers the invoice and payment process.
3. Once consigned inventory is sold to a customer, the related invoice(s) must
be paid within seven (7) days of receipt and are payable by the Dealer via
ACH (Automated Clearing House) on TermSync. Invoices are past due on
the eighth day from the invoice date.
4. Once Non-Consignment Products are sold to a customer, the related
invoice(s) must be paid within thirty (30) days of receipt and are payable by
the Dealer via ACH (Automated Clearing House) on TermSync. Invoices are
past due on the 31 st day from the invoice date.
5. Statements: A statement is provided via email after the end of each month,
usually on the first day of the new month, for all outstanding invoices.
6. Method of payment: Payment is made using TermSync for ACH payments
and viewing invoices and statements. Dealers maintain their banking
account information, permission access, and passwords on the Dealer
Payment Portal .
7. Inventory inspections: Per the consignment policy, Dealers will complete
Stock Counting as assigned in the Dealer Portal. Failure to complete Stock
Counting and correct discrepancies will block future shipments until
resolved.
8. Delinquent Invoices: You may not submit claims for warranty, sales
promotions, sales rebates, or other claims on a delinquent invoice.
To be continued on back page…
Positec Commercial, Inc.
929 Jay Street, Suite 200 Charlotte, NC 28208
Tel: 855-34KRESS (855-345-7377)
DPM-2023-007-US|V1|5.10.23
