LOCATIONSSupplier Bill Back Policy
1. Purpose:
The purpose of this policy is to outline Custom Truck One Source’s and Load King’s standard policy for the recovery of certain costs and expenses incurred on behalf of the Supplier. These costs may include, but are not limited to, transportation, storage, handling, returns, damages, or other charges as outlined in this Agreement.
2. Billable Expenses:
The following expenses are deemed billable to the Supplier:
- Transportation and shipping fees
- Storage and warehousing costs
- Damages or loss costs
- Inspection or testing fees
- Cost of returns or restocking
- Rework costs
- Any other costs mutually agreed upon in writing by both parties.
3. Documentation and Invoicing:
3.1 Documentation:Custom Truck One Source and Load King will provide supporting documentation for each billable expense, including but not limited to invoices, receipts, delivery notes, or any other relevant documentation.
3.2 Invoicing: Custom Truck One Source and Load King will issue an invoice to the Supplier for all billable expenses. The invoice will include the date, description, quantity (if applicable), unit cost, total amount due, and reference numbers for the supporting documentation.
3.3 Invoice Submission: All invoices will be submitted to the Supplier via [email/fax/post] within 30 days of the expense being incurred.
4. Payment Terms:
4.1 Payment Period: The Supplier shall remit payment for all valid invoices within 60 days from the date of receipt of the invoice.
4.2 Payment Method: Payments will be made via [bank transfer, check, etc.], to the account specified by the Company.
4.3 Late Payments: In the event of late payment, the Supplier may be liable for interest at the rate of 2% per month on the outstanding amount until payment is made in full.
5. Dispute Resolution:
5.1 Dispute Notice: If the Supplier disputes any invoice, it must notify the Company in writing within 10 days of receiving the invoice, detailing the reasons for the dispute.
5.2 Resolution Process: Both parties agree to negotiate in good faith to resolve any disputes within 5 days of the dispute notice.
6. Liability and Indemnification
The Supplier agrees to indemnify and hold the Company harmless against any loss, damage, liability, or expense arising from or related to the Supplier’s breach of this Agreement.
7. Amendments:
Any amendments to this policy must be in writing and signed by both parties.
