Extended Payment Terms by GreatCollections
For all items $1,000 and over, GreatCollections is pleased to offer extended payment terms. Please advise us at least 24 hours before you plan on bidding or purchasing the item that you plan on using the GreatCollections Extended Payment Terms for pre-approval.
1. Extended Payment Terms are not available for bullion items.
2. A 25% down payment is due within seven days of purchase date.
Additional 25% payment due within 30 days of purchase date.
Additional 25% payment due within 60 days of purchase date.
Balance due within 90 days of purchase date.
3. Interest is due on the outstanding balance after 30 days, at the rate of 1% per month (12% annually). Note, for the first 30 days, no interest is calculated.
4. There is no penalty for paying off early (and obviously this will save you on interest charges).
5. GreatCollections will maintain possession of the items until they are paid in full.
Additional terms and conditions for Extended Payment Terms by GreatCollections:
1. All sales are final. No returns will be accepted for any reason for any items using the Extended Payment Terms
2. In the event that the buyer defaults (by not paying on time), GreatCollections reserves the right to cancel the sale, re-offer the items at GreatCollections under the buyer's name, with a minimum bid of 50% of the sale price. Any down payments or subsequent installments will be applied to the balance due, together with any deficit relating to the resale of the items. If there is any balance owing the buyer, GreatCollections will remit this to buyer within 30 days of sale date.
3. In addition to these terms, all of our standard Terms and Conditions (as posted at www.greatcollections.com) shall govern the sale and use of Extended Payment Terms.