Payment Terms

Payment Terms

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These are fairly standard throughout the industry but may occasionally vary. If you require these services from Rex Plastics, they will all be quoted ahead of time to prevent any surprises.

  • Design service payment terms are 50% down, 50% upon approval. Once we receive the initial 50% investment we will begin work. If questions remain on the design, there will likely be some questions during the process. If it’s a complicated design our engineer will likely send images throughout the development stage to make sure we’re on the right track. Once we think the drawing is complete you will receive 2-dimensional pdf drawings of the product for approval.

The full CAD files will be released when the remainder of the payment is received.

  • Prototyping service payment terms are prepaid. We require payment in full prior to any prototyping work simply due to the fact that we have been stiffed one too many times prior to this policy. If the prototype does not meet previously agreed to standards we will of course stand behind this work and make any necessary corrections. Our goal is a long-term relationship in production, not to lose a customer at the prototyping stage of development.
  • Mold Building payment terms are 50% down, 50% upon approval. Similar to design services, work begins when the initial investment is received. Once the mold is completed, samples will be produced from the mold and sent to you. The remaining balance is invoiced when samples are approved. Production parts can be shipped once the mold is paid in full.

*Amortizing options may be available under special circumstances.

  • Production payment terms are Net 30 on approved credit.

**If you would like to immediately go into production and can facilitate a timely approval of samples parts, we recommend a production purchase order be given with the initial mold payment to insure we schedule time for that production immediately after the mold sample run.

 

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