General Policy

Dealers are required to pay for all products and services in full in accordance with the accepted Payment Terms & Conditions. All payments must be made in U.S. Dollars. Delinquent accounts increase administrative and carrying costs, which ultimately impact all dealers. Accounts that fail to comply with agreed payment terms may have open account status, credit privileges, pricing offers, freight benefits, and other benefits suspended or revoked at KNS Accessories sole discretion until the account is brought current.

Net 30 Terms

Acceptable Forms of Payment (U.S. & Canada): • Check • ACH Transfer • Wire Transfer Net 30 is defined as payment due in full within thirty (30) calendar days from the invoice date. Payment is considered received only when actually received by KNS Accessories and successfully processed or cleared. Mailing or otherwise transmitting payment does not constitute receipt of payment. Customer is responsible for ensuring that payment is received by the due date. Customers who elect to remit payment by check assume the risk of loss, delay, theft, alteration, misdirection, or non-delivery while the check is in transit. KNS Accessories is not responsible for any check that is lost, delayed, stolen, altered, misdirected, or otherwise not received by KNS Accessories. Any such occurrence does not extend the payment due date or relieve Customer of its obligation to make timely payment. To reduce the risk of mail theft and payment delays, customers are strongly encouraged to remit payment electronically by ACH or wire transfer. KNS Accessories reserves the right to require ACH or wire transfer for future payments if a customer's check is lost, stolen, altered, or otherwise not received. Any invoice not paid in full by the due date will be considered past due and may be subject to: • Immediate credit hold • Suspension of open account privileges • Revocation of discounts, rebates, freight, and other benefits • A service charge of two percent (2%) per month (24% annual rate), or the maximum rate permitted by applicable law, applied to all past due balances KNS Accessories reserves the right, at its sole discretion, to rescind Net 30 terms and require prepayment for any delinquent account. Orders may be delayed or cancelled if payment is not received by the due date.

Unauthorized Deductions

Unauthorized deductions, offsets, chargebacks, short payments, or unilateral adjustments to invoices are strictly prohibited. All deductions must be pre-approved in writing by KNS Accessories prior to payment. Any payment received with unauthorized deductions will not be deemed payment in full. The deducted amount will remain outstanding and will be treated as past due, subject to applicable late fees and penalties under these Terms.

Prepaid Accounts

Acceptable Forms of Prepaid Payment: • Check • ACH Transfer • Wire Transfer • Credit Card (Visa or MasterCard only; subject to 4% credit card service fee per transaction, as disclosed at the time of payment authorization.) KNS Accessories does not accept Cash on Delivery (COD).

Returned Payments

If any payment is returned or not honored by the dealer’s financial institution for any reason, a $35 returned payment processing fee will be applied to the dealer’s account. KNS Accessories reserves the right to require future payments via ACH, wire transfer, or other secured form of payment following any returned payment incident.

Collection Costs

If an account becomes delinquent and requires collection efforts, including engagement of an attorney or collection agency, the dealer agrees to pay all collection costs permitted by applicable law. Such costs may include attorneys’ fees, court costs, collection agency fees, and costs incurred on appeal.

New & Inactive Dealers

All new and inactive dealers must complete the current KNS Accessories Dealer Application prior to approval. The minimum opening buy-in for domestic dealers is $3,000 of shippable, in-stock inventory. Dealers must meet minimum annual net sales requirements to maintain active account status. A buy-in order will be required to reactivate any inactive dealer account.

Governing Law & Venue

These Payment Terms & Conditions, and any transactions between KNS Accessories and Dealer, shall be governed by and construed in accordance with the laws of the State of California, without regard to conflict of law principles. Dealer agrees that any dispute, claim, or legal action arising out of or relating to purchases, unpaid balances, or these Terms shall be brought exclusively in the state or federal courts located in Los Angeles County, California. Dealer consents to personal jurisdiction and venue in such courts.

Security Interest

Dealer grants KNS Accessories a continuing security interest in all products sold, and in all proceeds thereof, until full payment is received. Dealer authorizes KNS Accessories to file any financing statements (including UCC-1 filings) and take any actions reasonably necessary to perfect and enforce this security interest. Title to goods shall not pass until payment in full has been received, to the extent permitted by applicable law.

Application of Payments

Unless specifically designated in writing by Dealer at the time of payment, KNS Accessories reserves the right to apply payments at its sole discretion to any outstanding invoices, service charges, fees, or other amounts due. KNS Accessories may apply payments first to accrued service charges, collection costs, or fees, and then to principal balances.

Cross-Default

Dealer agrees that a default on any single invoice, payment obligation, agreement, or credit term with KNS Accessories shall constitute a default on all outstanding invoices and obligations. Upon default, KNS Accessories may, at its sole discretion and without further notice: • Declare all outstanding balances immediately due and payable • Suspend open account privileges • Rescind Net 30 terms • Charge monthly late fees • Apply freight chargebacks • Require prepayment for future orders • Exercise any other rights available under these Terms or applicable law Failure by KNS Accessories to enforce any provision shall not constitute a waiver of future enforcement.

Right to Suspend Shipments

KNS Accessories reserves the right, at its sole discretion and without prior notice, to suspend or cancel shipments, production, or order fulfillment if: • Any invoice is past due • Dealer exceeds approved credit limits • Dealer’s financial condition becomes impaired or unsatisfactory • Dealer breaches any provision of these Terms KNS Accessories shall not be liable for any losses, damages, penalties, back charges, lost profits, or consequential damages resulting from shipment suspension or cancellation due to Dealer’s noncompliance. Shipment may resume only after the account is brought current and credit privileges are reinstated at KNS Accessories’s discretion.